Company: NINE
Filing Date: 2025-10-30
Form Type: 10-Q
Source: 0001532286-25-000026
Chunk: 127

Company: Nine Energy Service, Inc.
Filing Date: 2025-10-30
Form: 10-Q
Item: Part I, Item 2
Chunk 127
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2025 ABL Credit Facility was approximately $25.9 million.

For additional information on the 2018 ABL Credit Facility and the 2025 ABL Credit Facility, see Note 8 – Debt Obligations included in Item 1 of Part I of this Quarterly Report on Form 10-Q.

Cash Flows

Cash flows provided by (used in) operations by type of activity were as follows for the nine months ended September 30, 2025 and 2024: 

Nine Months Ended September 30,20252024(in thousands)Operating activities$(5,133)$(1,793)Investing activities(13,162)(11,176)Financing activities6,559 (2,116)Impact of foreign exchange rate on cash331 (103)Net change in cash, cash equivalents, and restricted cash$(11,405)$(15,188)

Operating Activities

Net cash used in operating activities was $5.1 million in the first nine months of 2025 compared to $1.8 million in the first nine months of 2024. The $3.3 million increase was primarily attributed to a $6.5 million increase in cash used in working capital, in comparison to the first nine months of 2024, driven mainly by reduced collections of accounts receivable between periods. The increase was partially offset by a $3.2 million decrease in cash flow used in operations in comparison to the first nine months of 2024. 

Investing Activities

Net cash used in investing activities was $13.2 million during the first nine months of 2025 compared to $11.2 million in the first nine months of 2024. The $2.0 million increase was primarily attributed to a $1.8 million increase in cash purchases of property and equipment in comparison to the first nine months of 2024 coupled with a $0.2 million decrease in cash proceeds from the sales of property and equipment between periods.

Financing Activities

Net cash provided by financing activities was $6.6 million during the first nine months of 2025 compared to $2.1 million used in the first nine months of 2024. The $8.7 million change was primarily attributed to a $62.9 million increase in proceeds received from revolving credit facilities in comparison to the first nine months of 2024, partially offset by a $41.0 million increase in payments on revolving credit facilities