Company: NINE
Filing Date: 2025-10-30
Form Type: 10-Q
Source: 0001532286-25-000026
Chunk: 118

Company: Nine Energy Service, Inc.
Filing Date: 2025-10-30
Form: 10-Q
Item: Part I, Item 2
Chunk 118
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 2025 and 2024.

Three Months Ended September 30,Nine Months Ended September 30,2025202420252024(in thousands)Net loss$(14,647)$(10,143)$(32,099)$(32,239)Add back:Interest expense13,714 12,879 41,319 38,453 Interest income(114)(196)(572)(660)Restructuring charges33 177 339 519 Adjusted after-tax net operating income (loss)$(1,014)$2,717 $8,987 $6,073 Total capital as of prior period-end:Total stockholders’ deficit$(81,737)$(49,715)$(66,064)$(35,630)Total debt350,275 352,730 350,580 359,859 Less cash and cash equivalents(14,216)(26,027)(27,880)(30,840)Total capital as of prior period-end$254,322 $276,988 $256,636 $293,389 Total capital as of period-end:Total stockholders’ deficit$(95,866)$(57,561)$(95,866)$(57,561)Total debt363,258 350,000 363,258 350,000 Less cash and cash equivalents(14,389)(15,652)(14,389)(15,652)Total capital as of period-end$253,003 $276,787 $253,003 $276,787 Average total capital$253,663 $276,888 $254,820 $285,088 ROIC(23.1)%(14.7)%(16.8)%(15.1)%Adjusted ROIC(1.6)%3.9%4.7%2.8%

Adjusted Gross Profit (Loss)

GAAP defines gross profit (loss) as revenues less cost of revenues and includes depreciation and amortization in costs of revenues. We define adjusted gross profit (loss) as revenues less direct and indirect costs of revenues (excluding depreciation and amortization). This measure differs from the GAAP definition of gross profit (loss) because we do not include the impact of depreciation and amortization, which represent non-cash expenses.

Management believes adjusted gross profit (loss) provides useful information to us and our investors regarding our financial condition and results of operation and helps management evaluate our operating performance by eliminating the impact