Company: NINE
Filing Date: 2025-08-05
Form Type: 10-Q
Source: 0001532286-25-000016
Chunk: 88

Company: Nine Energy Service, Inc.
Filing Date: 2025-08-05
Form: 10-Q
Item: Part I, Item 8
Chunk 88
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 or more meaningful than, net income (loss) as determined in accordance with accounting principles generally accepted in the United States of America (“GAAP”) or as an indicator of our operating performance. Certain items excluded from Adjusted EBITDA are significant components in understanding and assessing a company’s financial performance, such as a company’s cost of capital and tax structure, as well as the historic costs of depreciable assets, none of which are components of Adjusted EBITDA. Our computation of Adjusted EBITDA may not be comparable to other similarly titled measures of other companies.

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The following table presents a reconciliation of the non-GAAP financial measure of Adjusted EBITDA to the GAAP financial measure of net income (loss) for the three and six months ended June 30, 2025 and 2024: 

Three Months Ended June 30,Six Months Ended June 30,2025202420252024(in thousands)Net loss$(10,391)$(14,041)$(17,452)$(22,096)Interest expense14,729 12,782 27,605 25,574 Interest income(319)(154)(458)(464)Provision (benefit) for income taxes(454)139 (339)293 Depreciation5,796 6,602 11,633 13,336 Amortization of intangibles2,796 2,796 5,592 5,592 EBITDA$12,157 $8,124 $26,581 $22,235 Loss (gain) on revaluation of contingent liability (1)48 (118)73 (192)Restructuring charges306 315 306 342 Stock-based compensation expense539 807 1,289 1,388 Cash award expense1,153 580 2,045 995 Loss (gain) on sale of property and equipment(80)27 366 1 Adjusted EBITDA$14,123 $9,735 $30,660 $24,769 

(1)Amounts relate to the revaluation of a contingent liability associated with a 2018 acquisition. The impact is included in our Condensed Consolidated Statements of Income (Loss) and Comprehensive Income (Loss). For additional information on contingent liabilities, see Note 10 – Commitments and Contingencies included in Item 1 of Part I of this