Company: NINE
Filing Date: 2025-08-05
Form Type: 10-Q
Source: 0001532286-25-000016
Chunk: 57

Company: Nine Energy Service, Inc.
Filing Date: 2025-08-05
Form: 10-Q
Item: Part I, Item 1
Chunk 57
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4,057 Investing activities(9,746)(8,093)Financing activities(5,471)(719)Impact of foreign exchange rate on cash281 (58)Net change in cash, cash equivalents, and restricted cash$(10,125)$(4,813)

Operating Activities

Net cash provided by operating activities was $4.8 million in the first six months of 2025 compared to $4.1 million in the first six months of 2024. The increase in cash flow provided by operating activities was primarily attributed to a $6.9 million increase in cash provided by operations, driven mainly by a decreased net loss in comparison to the first six months of 2024. The increase was partially offset by a $6.2 million decrease in cash provided by working capital in comparison to the first six months of 2024, driven mainly by a decrease in cash provided by accounts receivable collections between periods.

Investing Activities

Net cash used in investing activities was $9.7 million during the first six months of 2025 compared to $8.1 million in the first six months of 2024. The increase in cash flow used in investing activities was primarily attributed to a $1.7 million increase in cash purchases of property and equipment in comparison to the first six months of 2024.

Financing Activities

Net cash used in financing activities was $5.5 million during the first six months of 2025 compared to $0.7 million in the first six months of 2024. The $4.8 million increase in cash flow used in financing activities was primarily attributed to a $46.0 million increase in payments on revolving credit facilities during the first six months of 2025 in comparison to the first six months of 2024, coupled with $6.8 million in proceeds received from the issuance of common stock under our ATM program in the first six months of 2024, that did not reoccur in the first six months of 2025, as well as $4.5 million in debt issuance costs associated with the 2025 ABL Credit Facility in the first six months of 2025, that did not occur in the first six months of 2024 and a $0.5 million increase in payments of short-term debt between periods. The increase was partially offset by $52.9 million in proceeds received from revolving credit facilities in the first six months of 2025 that