Company: NINE
Filing Date: 2025-10-30
Form Type: 10-Q
Source: 0001532286-25-000026
Chunk: 112

Company: Nine Energy Service, Inc.
Filing Date: 2025-10-30
Form: 10-Q
Item: Part I, Item 2
Chunk 112
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4. 

Non-Operating (Income) Expenses

Non-operating expenses increased $0.9 million to $13.4 million for the third quarter of 2025. The increase in comparison to the third quarter of 2024 was primarily related to a $0.5 million increase in amortization of deferred financing costs between periods, coupled with a $0.3 million increase in interest expense associated with the 2025 ABL Credit Facility (as defined below) which carries a higher interest rate than our previous 2018 ABL Credit Facility (as defined below).

(Gain) Loss on Revaluation of Contingent Liability

We recorded a $0.1 million loss on revaluation of contingent liability in the third quarter of 2025 compared to a $0.4 million loss on revaluation of contingent liability in the third quarter of 2024. The decreased loss was related to a decrease in the fair value of the earnout associated with our acquisition of Frac Technology AS in comparison to the third quarter of 2024.

(Gain) Loss on Sale of Property and Equipment

Loss on sale of property and equipment decreased $0.4 million for the third quarter of 2025. The decrease in comparison to the third quarter of 2024 was primarily related to losses on equipment sales in the third quarter of 2024 that did not recur in the third quarter of 2025. 

Provision (Benefit) for Income Taxes

We recorded an income tax provision of $0.1 million for both the third quarter of 2025 and the third quarter of 2024. The income tax provision for both periods is related to our income tax position in state and foreign tax jurisdictions.

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Net Income (Loss) and Adjusted EBITDA

Net loss increased $4.5 million, or 44%, to $14.6 million for the third quarter of 2025, and Adjusted EBITDA decreased $4.6 million, or 33%, to $9.6 million for the third quarter of 2025. The changes were primarily due to the fluctuations in revenues and expenses discussed above. See “Non-GAAP Financial Measures” below for further information regarding Adjusted EBITDA.

Results for the Nine Months Ended September 30, 2025 Compared to the Nine Months Ended September 30, 2024 

 Nine Months Ended September 30,  20252024ChangePercentage Change (in thousands,