Forum Energy Technologies Inc (FET) financial statements: income statement, balance sheet and cash flow
Forum Energy Technologies Inc's income statement, balance sheet and cash flow statement as filed with the SEC (10-K and 10-Q), with the latest fiscal years and quarters. In its latest fiscal year (Dec 31, 2025 · FY), Forum Energy Technologies Inc reported revenue of $791.5M (-3.1% year on year) and net income of ($9.7M) (+92.9% year on year).
Income statement
Forum Energy Technologies Inc income statement, fiscal years
Line item
Dec 31, 2025 · FY
Dec 31, 2024 · FY
Dec 31, 2023 · FY
Dec 31, 2022 · FY
Revenue
$791.5M
$816.4M
$738.9M
$699.9M
Cost of sales
$572.4M
$561.4M
$534.7M
$511.4M
Gross profit
$219.0M
$255.0M
$204.2M
$188.5M
Selling, general and administrative expenses
$199.9M
$219.3M
$180.4M
$179.5M
Transaction expenses
$546.0K
$7.7M
$2.9M
—
Impairment of intangible assets
$0
$119.1M
—
—
Gain on sale-leaseback transactions
($11.2M)
($4.9M)
$0
($7.0M)
Loss (gain) on disposal of assets and other
($378.0K)
$484.0K
$156.0K
($1.3M)
Total operating expenses
$188.9M
$341.8M
$183.4M
$171.2M
Operating income (loss)
$30.1M
($86.8M)
$20.7M
$17.3M
Interest expense
$18.3M
$31.5M
$18.3M
$31.5M
Loss on extinguishment of debt
$0
$2.9M
—
$0
Foreign exchange losses (gains) and other, net
($4.8M)
$7.3M
$10.2M
($24.5M)
Total other expense, net
$13.6M
$41.7M
$28.5M
$7.0M
Income (loss) before income taxes
$16.6M
($128.4M)
($7.8M)
$10.3M
Income tax expense
$26.2M
$6.9M
$11.1M
$6.6M
Basic (in shares)
11.9M
12.3M
10.2M
5.7M
Diluted (in shares)
11.9M
12.3M
10.2M
6.0M
Basic (in dollars per share)
-$0.81
-$11.00
-$1.85
$0.65
Diluted (in dollars per share)
-$0.81
-$11.00
-$1.85
$0.62
Net loss
($9.7M)
($135.3M)
($18.9M)
$3.7M
Change in foreign currency translation
$7.5M
($8.2M)
$12.8M
($28.7M)
Gain on pension liability
$294.0K
$157.0K
($508.0K)
$2.3M
Comprehensive loss
($1.9M)
($143.3M)
($6.6M)
($22.7M)
Forum Energy Technologies Inc income statement, quarters
Line item
Jun 30, 2026 · Q2
Mar 31, 2026 · Q1
Sep 30, 2025 · Q3
Jun 30, 2025 · Q2
Revenue
$226.2M
$208.7M
$196.2M
$199.8M
Cost of sales
$154.9M
$147.7M
$156.0M
$140.4M
Gross profit
$71.4M
$61.0M
$40.2M
$59.4M
Selling, general and administrative expenses
$50.3M
$50.0M
$50.4M
$51.2M
Transaction expenses
$125.0K
$148.0K
$254.0K
$184.0K
Gain on sale-leaseback transactions
$0
—
($4.3M)
($6.9M)
Loss on disposal of assets and other
$460.0K
($170.0K)
($81.0K)
$207.0K
Total operating expenses
$50.8M
$50.0M
$46.3M
$44.7M
Operating income
$20.5M
$11.0M
($6.1M)
$14.7M
Interest expense
$4.3M
$4.1M
$4.4M
$4.7M
Foreign exchange losses (gains) and other, net
$226.0K
($523.0K)
$9.0K
($3.9M)
Total other expense
$4.5M
$3.6M
$4.4M
$764.0K
Income before taxes
$16.0M
$7.4M
($10.5M)
$13.9M
Income tax expense
$3.6M
$2.9M
$10.1M
$6.2M
Basic (in shares)
11.3M
11.2M
11.7M
12.3M
Diluted (in shares)
11.8M
11.6M
11.7M
12.6M
Basic (in USD per share)
$1.10
$0.40
-$1.76
$0.62
Diluted (in USD per share)
$1.05
$0.39
-$1.76
$0.61
Net income
$12.4M
$4.5M
($20.6M)
$7.7M
Change in foreign currency translation
($2.9M)
($3.6M)
($4.3M)
$8.9M
Gain (loss) on pension liability
($12.0K)
($17.0K)
($4.0K)
$75.0K
Comprehensive income
$9.5M
$863.0K
($24.9M)
$16.7M
Balance sheet
Forum Energy Technologies Inc balance sheet, fiscal years
Line item
Dec 31, 2025 · FY
Dec 31, 2024 · FY
Dec 31, 2023 · FY
Dec 31, 2022 · FY
Cash and cash equivalents
$34.7M
$44.7M
$46.2M
$51.0M
Accounts receivable—trade, net of allowances of $8,953 and $9,529
$142.4M
$153.9M
$146.7M
$154.2M
Inventories, net
$239.4M
$265.5M
$299.6M
$269.8M
Prepaid expenses and other current assets
$23.0M
$19.2M
$21.9M
$22.0M
Costs and estimated profits in excess of billings
$9.4M
$11.6M
$13.4M
$15.1M
Accrued revenue
$21.0K
$752.0K
$1.8M
$665.0K
Total current assets
$448.9M
$495.6M
$529.6M
$512.9M
Property and equipment, net of accumulated depreciation
$51.9M
$63.4M
$61.4M
$63.0M
Operating lease assets
$80.7M
$70.4M
$55.4M
$57.3M
Deferred financing costs, net
$1.6M
$2.2M
$1.2M
$1.2M
Goodwill
$64.7M
$61.7M
—
—
Intangible assets, net
$93.6M
$109.2M
$168.0M
$191.5M
Deferred tax assets, net
$7.9M
$11.4M
$368.0K
$184.0K
Other long-term assets
$3.2M
$2.0M
$5.2M
$8.8M
Total assets
$752.5M
$816.0M
$821.1M
$834.8M
Current portion of long-term debt
$1.4M
$1.9M
$1.2M
$782.0K
Accounts payable—trade
$94.6M
$109.7M
$125.9M
$118.3M
Accrued liabilities
$76.2M
$77.2M
$62.5M
$76.5M
Deferred revenue
$17.4M
$8.6M
$10.6M
$14.4M
Billings in excess of costs and profits recognized
$16.9M
$4.5M
$4.2M
$305.0K
Total current liabilities
$206.5M
$201.9M
$204.3M
$210.3M
Long-term debt, net of current portion
$134.5M
$186.5M
$129.6M
$239.1M
Deferred tax liabilities, net
$20.4M
$23.7M
$940.0K
$902.0K
Operating lease liabilities
$84.0M
$73.1M
$61.5M
$64.6M
Other long-term liabilities
$15.9M
$10.8M
$12.1M
$12.8M
Total liabilities
$461.3M
$496.1M
$408.4M
$527.7M
Common stock, $0.01 par value, 29,600,000 and 14,800,000 shares authorized, 13,192,818 and 12,999,246 shares issued
132.0K
130.0K
109.0K
62.0K
Additional paid-in capital
$1.4B
$1.4B
$1.4B
$1.3B
Treasury stock at cost, 2,095,969 and 708,900 shares
-176.7M
-142.1M
-142.1M
-138.6M
Retained deficit
($844.5M)
($834.8M)
($699.5M)
($680.6M)
Accumulated other comprehensive loss
($115.5M)
($123.2M)
($115.2M)
($127.5M)
Total equity
$291.1M
$319.9M
$412.6M
$307.0M
Total liabilities and equity
$752.5M
$816.0M
$821.1M
$834.8M
Forum Energy Technologies Inc balance sheet, quarters
Line item
Jun 30, 2026
Mar 31, 2026
Sep 30, 2025
Jun 30, 2025
Cash and cash equivalents
$33.7M
$37.5M
$31.7M
$39.0M
Accounts receivable—trade, net of allowances of $10,978 and $8,953
$174.0M
$155.5M
$146.9M
$155.0M
Inventories, net
$233.5M
$236.4M
$248.3M
$260.0M
Prepaid expenses and other current assets
$26.1M
$21.9M
$16.0M
$19.1M
Costs and estimated profits in excess of billings
$16.2M
$12.9M
$16.4M
$14.5M
Accrued revenue
$70.0K
$135.0K
$21.0K
$99.0K
Total current assets
$483.5M
$464.3M
$459.3M
$487.7M
Property and equipment, net of accumulated depreciation
$48.0M
$49.6M
$52.3M
$58.0M
Operating lease assets
$80.8M
$83.2M
$81.3M
$77.8M
Deferred financing costs, net
$2.9M
$3.1M
$1.7M
$1.9M
Goodwill
$62.5M
$63.8M
$63.8M
$65.2M
Intangible assets, net
$82.1M
$88.0M
$97.2M
$103.7M
Deferred income taxes, net
$7.9M
$7.7M
$11.5M
$13.0M
Other long-term assets
$3.0M
$3.4M
$3.1M
$2.8M
Total assets
$770.7M
$763.1M
$770.1M
$810.1M
Current portion of long-term debt
$1.3M
$1.4M
$1.4M
$1.7M
Accounts payable—trade
$118.8M
$114.7M
$113.7M
$106.1M
Accrued liabilities
$67.5M
$63.8M
$69.5M
$70.5M
Deferred revenue
$15.3M
$17.2M
$13.7M
$12.0M
Billings in excess of costs and profits recognized
$17.7M
$11.5M
$11.3M
$12.0M
Total current liabilities
$220.6M
$208.6M
$209.6M
$202.3M
Long-term debt, net of current portion
$142.4M
$152.3M
$138.5M
$157.7M
Deferred income taxes, net
$18.2M
$19.2M
$20.8M
$22.5M
Operating lease liabilities
$83.8M
$86.5M
$85.2M
$80.2M
Other long-term liabilities
$15.9M
$15.7M
$18.6M
$13.3M
Total liabilities
$480.9M
$482.4M
$472.8M
$475.9M
Common stock, $0.01 par value, 29,600,000 shares authorized, 13,507,226 and 13,192,818 shares issued
135.0K
135.0K
132.0K
132.0K
Additional paid-in capital
$1.4B
$1.4B
$1.4B
$1.4B
Treasury stock at cost, 2,244,808 and 2,095,969 shares
-184.2M
-181.2M
-163.2M
-148.4M
Retained deficit
($827.6M)
($840.0M)
($846.5M)
($826.0M)
Accumulated other comprehensive loss
($122.0M)
($119.1M)
($118.0M)
($113.7M)
Total equity
$289.8M
$280.7M
$297.3M
$334.2M
Total liabilities and equity
$770.7M
$763.1M
$770.1M
$810.1M
Cash flow statement
Forum Energy Technologies Inc cash flow statement, fiscal years
Line item
Dec 31, 2025 · FY
Dec 31, 2024 · FY
Dec 31, 2023 · FY
Dec 31, 2022 · FY
Net loss
($9.7M)
($135.3M)
($18.9M)
$3.7M
Depreciation expense
$13.8M
$16.9M
$10.8M
$12.4M
Amortization of intangible assets
$19.9M
$36.8M
$23.9M
$24.5M
Impairment of property and equipment and other assets
$4.3M
—
—
—
Impairment of intangible assets
$0
$119.1M
—
—
Stock-based compensation expense
$9.0M
$7.1M
$4.6M
$4.2M
Inventory write downs
$19.7M
$2.7M
$2.8M
$2.7M
Provision for doubtful accounts
($193.0K)
$389.0K
$1.5M
$2.2M
Deferred income taxes
$5.3M
($17.6M)
($204.0K)
($130.0K)
Loss on extinguishment of debt
$0
$2.9M
—
$0
Gain on sale-leaseback transactions
($11.2M)
($4.9M)
$0
($7.0M)
Other
$1.5M
$6.4M
$5.1M
$5.3M
Accounts receivable—trade
$14.7M
$13.6M
$6.7M
($34.8M)
Inventories
$11.1M
$41.5M
($31.9M)
($34.6M)
Prepaid expenses and other current assets
($4.2M)
$8.1M
$2.7M
$590.0K
Cost and estimated profits in excess of billings
$2.5M
$1.6M
$2.1M
($7.8M)
Accounts payable, deferred revenue and other accrued liabilities
($18.2M)
($7.7M)
($4.9M)
$20.8M
Billings in excess of costs and profits recognized
$12.0M
$438.0K
$3.9M
($9.2M)
Net cash provided by operating activities
$70.4M
$92.2M
$8.2M
($17.1M)
Capital expenditures for property and equipment
($6.0M)
($8.1M)
($7.9M)
($7.5M)
Proceeds from sale of property and equipment
$1.0M
$703.0K
$1.4M
$3.0M
Proceeds from sale-leaseback transactions
$14.6M
$20.3M
$0
$32.1M
Acquisition of businesses, net of cash acquired
$0
($150.4M)
$0
($485.0K)
Net cash provided by (used in) investing activities
$9.6M
($137.5M)
($6.6M)
$27.1M
Borrowings on revolving Credit Facility
$562.3M
$714.6M
$451.7M
$544.1M
Repayments on revolving Credit Facility
($615.4M)
($624.3M)
($451.7M)
($544.1M)
Proceeds from issuance of 2029 Bonds
$0
$100.0M
—
—
Payments of 2025 Notes
$0
($134.2M)
—
—
Proceeds from issuance of Seller Term Loan
$0
$59.7M
—
—
Payments of Seller Term Loan
$0
($59.7M)
—
—
Payment of capital lease obligations
($1.6M)
($1.3M)
($1.3M)
($1.3M)
Repurchases of stock
($34.6M)
$0
($6.0M)
($3.8M)
Payments of withheld taxes on stock-based compensation plans
($1.3M)
($1.1M)
—
—
Deferred financing costs
($914.0K)
($8.5M)
($311.0K)
$0
Net cash provided by (used in) financing activities
($91.6M)
$45.2M
($7.6M)
($5.1M)
Effect of exchange rate changes on cash
$1.6M
($1.4M)
$1.1M
($838.0K)
Net decrease in cash, cash equivalents and restricted cash
($10.0M)
($1.5M)
($4.9M)
$4.2M
Cash, cash equivalents and restricted cash at beginning of period
$44.7M
$46.2M
$51.0M
$46.9M
Cash, cash equivalents and restricted cash at end of period
$34.7M
$44.7M
$46.2M
$51.0M
Cash paid for interest
$16.9M
$26.8M
$17.1M
$25.3M
Cash paid for income taxes
$26.0M
$23.1M
$8.8M
($383.0K)
Operating lease assets obtained in exchange for lease obligations
$21.3M
$26.2M
$7.5M
$40.5M
Finance lease assets obtained in exchange for lease obligations
$2.2M
$2.1M
$2.1M
$2.0M
Accrued purchases of property and equipment
$85.0K
$1.3M
$6.0K
$50.0K
Stock issued related to business acquisition
$0
$44.2M
—
—
Forum Energy Technologies Inc cash flow statement, quarters
Line item
Jun 30, 2026 · YTD
Mar 31, 2026 · Q1
Sep 30, 2025 · YTD
Jun 30, 2025 · YTD
Net income
$16.9M
$4.5M
($11.7M)
$8.8M
Depreciation expense
$6.1M
$3.2M
$10.5M
$7.3M
Amortization of intangible assets
$9.2M
$4.6M
$15.4M
$10.7M
Inventory write-down
$5.9M
$397.0K
$17.4M
$760.0K
Stock-based compensation expense
$5.1M
$2.5M
$6.4M
$3.6M
Deferred income taxes
($1.7M)
($846.0K)
($3.3M)
($3.7M)
Gain on sale-leaseback transactions
$0
—
($11.2M)
($6.9M)
Other
$3.9M
$1.4M
$1.5M
$1.0M
Accounts receivable—trade
($35.3M)
($14.8M)
$9.8M
$2.5M
Inventories
($1.3M)
$1.8M
$4.2M
$10.0M
Prepaid expenses and other current assets
($3.3M)
$604.0K
$2.8M
$1.4M
Cost and estimated profit in excess of billings
($7.0M)
($3.7M)
($4.4M)
($2.4M)
Accounts payable, deferred revenue and other accrued liabilities
$14.7M
$7.3M
($213.0K)
($15.1M)
Billings in excess of costs and profits recognized
$851.0K
($5.4M)
$6.5M
$7.0M
Net cash provided by operating activities
$14.1M
$1.6M
$48.0M
$25.1M
Capital expenditures for property and equipment
($3.2M)
($256.0K)
($4.5M)
($3.1M)
Proceeds from sale of property and equipment
$159.0K
$3.0K
$163.0K
$57.0K
Proceeds from sale-leaseback transactions
$0
—
$14.6M
$8.0M
Net cash provided by (used in) investing activities
($3.0M)
($253.0K)
$10.3M
$5.0M
Borrowings on Credit Facility
$265.2M
$137.9M
$398.7M
$271.3M
Repayments on Credit Facility
($257.4M)
($120.2M)
($446.4M)
($299.4M)
Payment of capital lease obligations
($819.0K)
($417.0K)
($1.4M)
($732.0K)
Deferred financing costs
($1.7M)
($1.7M)
($914.0K)
($914.0K)
Repurchases of stock
($7.6M)
($4.6M)
($21.1M)
($6.3M)
Payment of withheld taxes on stock-based compensation plans
($9.3M)
($9.3M)
($1.3M)
($1.3M)
Net cash used in financing activities
($11.6M)
$1.9M
($72.4M)
($37.3M)
Effect of exchange rate changes on cash
($400.0K)
($399.0K)
$1.2M
$1.5M
Net decrease in cash and cash equivalents
($945.0K)
$2.8M
($13.0M)
($5.7M)
Cash and cash equivalents at beginning of period
$34.7M
$34.7M
$44.7M
$44.7M
Cash and cash equivalents at end of period
$33.7M
—
—
—
Cash paid for interest
$7.6M
$1.1M
$10.7M
$9.0M
Cash paid for income taxes
$12.7M
$7.8M
$22.1M
$11.3M
Operating lease assets obtained in exchange for lease obligations
$5.8M
$5.4M
$17.1M
$12.2M
Finance lease assets obtained in exchange for lease obligations