Company: NINE
Filing Date: 2025-08-05
Form Type: 10-Q
Source: 0001532286-25-000016
Chunk: 75

Company: Nine Energy Service, Inc.
Filing Date: 2025-08-05
Form: 10-Q
Item: Part I, Item 8
Chunk 75
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 2024, respectively, in the Company’s Condensed Consolidated Balance Sheets. The impact of the revaluation adjustments is included in the Company’s Condensed Consolidated Statements of Income (Loss) and Comprehensive Income (Loss).

11. Taxes

The Company’s provision (benefit) for income taxes included in its Condensed Consolidated Statements of Income (Loss) and Comprehensive Income (Loss) was as follows:Three Months Ended June 30,Six Months Ended June 30,2025202420252024(in thousands, except percentages)Provision (benefit) for income taxes$(454)$139 $(339)$293 Effective tax rate4.2 %(1.0)%1.9 %(1.3)%The Company’s benefit for income taxes for the three and six months ended June 30, 2025 primarily reflects a $0.5 million discrete tax benefit recorded during the second quarter of 2025, as well as tax positions in state and non-U.S. jurisdictions. At June 30, 2025, the Company continued to record a full valuation allowance against its net deferred tax asset positions in the U.S. and Canada.

12. Earnings (Loss) Per Share

Basic earnings (loss) per share is computed by dividing net income (loss) by the weighted average number of shares of common stock outstanding for the period. Diluted earnings (loss) per share is based on the weighted average number of shares outstanding for the period, including the dilutive effect of equity awards.Basic and diluted earnings (loss) per share of common stock was computed as follows:  Three Months Ended June 30, 2025Three Months Ended June 30, 2024Net LossAverage Shares OutstandingLoss Per ShareNet LossAverage Shares OutstandingLoss Per Share(in thousands, except share and per share amounts)Basic$(10,391)40,886,710 $(0.25)$(14,041)35,477,154 $(0.40)Unvested restricted stock and stock units— — — — — — Diluted$(10,391)40,886,710 $(0.25)$(14,041)35,477,154 $(0.40)

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 Six Months Ended June 30, 2025Six Months Ended June 30, 2024Net LossAverage Shares OutstandingLoss Per ShareNet LossAverage Shares OutstandingLoss Per Share(in thousands, except share and per share