Company: NINE
Filing Date: 2025-08-05
Form Type: 10-Q
Source: 0001532286-25-000016
Chunk: 22

Company: Nine Energy Service, Inc.
Filing Date: 2025-08-05
Form: 10-Q
Item: Part I, Item 1
Chunk 22
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.Inventories, net as of June 30, 2025 and December 31, 2024 were comprised of the following:  June 30, 2025December 31, 2024 (in thousands)Raw materials$32,997 $28,900 Work in progress105 148 Finished goods25,574 27,194 Inventories58,676 56,242 Reserve for obsolescence(4,467)(5,461)Inventories, net$54,209 $50,781 

6. Intangible Assets

The gross carrying amount and accumulated amortization of intangible assets as of June 30, 2025 and December 31, 2024 was as follows: June 30, 2025Gross Carrying AmountAccumulated AmortizationNet Carrying AmountWeighted Average Amortization Period(in thousands, except weighted average amortization period information)Customer relationships$63,270 $(56,789)$6,481 2.3Technology125,110 (57,937)67,173 8.3Total$188,380 $(114,726)$73,654 December 31, 2024Gross Carrying AmountAccumulated AmortizationNet Carrying AmountWeighted Average Amortization Period(in thousands, except weighted average amortization period information)Customer relationships$63,270 $(55,400)$7,870 2.8Technology125,110 (53,734)71,376 8.8Total$188,380 $(109,134)$79,246 Amortization of intangibles expense was $2.8 million and $5.6 million for the three and six months ended June 30, 2025, respectively. Amortization of intangibles expense was $2.8 million and $5.6 million for the three and six months ended June 30, 2024, respectively.Future estimated amortization of intangibles (in thousands) is as follows:Year Ending December 31,Remainder of 2025$5,591 202611,082 202710,315 20288,000 20298,000 20308,000 Thereafter22,666 Total$73,654 

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7. Accrued Expenses

Accrued expenses as of June 30, 2025 and December 31