Company: TISI
Filing Date: 2025-08-12
Form Type: 10-Q
Source: 0000318833-25-000057
Chunk: 100

Company: TEAM INC
Filing Date: 2025-08-12
Form: 10-Q
Item: Part I, Item 8
Chunk 100
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 operating expenses195,008 81,752 176,760 Adjusted selling, general and administrative expenses215,898 20,892 36,790 Adjusted EBITDA$19,490 $14,986 $34,476  Three Months EndedJune 30, 2024 IHTMSTotal(unaudited)(unaudited)(unaudited)Revenues$113,234 $115,384 $228,618 Adjusted operating expenses182,226 79,284 161,510 Adjusted selling, general and administrative expenses215,419 20,750 36,169 Adjusted EBITDA$15,589 $15,350 $30,939 

19 

 Six Months EndedJune 30, 2025 IHTMSTotal(unaudited)(unaudited)(unaudited)Revenues$236,611 $210,070 $446,681 Adjusted operating expenses1174,703 150,304 325,007 Adjusted selling, general and administrative expenses230,794 41,286 72,080 Adjusted EBITDA$31,114 $18,480 $49,594  Six Months EndedJune 30, 2024 IHTMSTotal(unaudited)(unaudited)(unaudited)Revenues$212,682 $215,536 $428,218 Adjusted operating expenses1158,359 150,447 308,806 Adjusted selling, general and administrative expenses230,385 40,592 70,977 Adjusted EBITDA$23,938 $24,497 $48,435 _____________1    Represent operating expenses excluding indirect depreciation and amortization, and severance cost.2    Represent segment selling, general and administrative expenses excluding depreciation and amortization, noncash share-based compensation, professional, legal and other non-recurring costs.Reconciliation of segment adjusted EBITDA to consolidated loss before income taxes:Three Months EndedJune 30,Six Months EndedJune 30,Segment adjusted EBITDA:2025202420252024IHT$19,490 $15,589 $31,114 $23,938 MS14,986 15,350 18,480 24,497     Total segment adjusted EBITDA34,476 30,939 49,594 48,435 Segment depreciation and