Flotek Industries Inc (FTK) financial statements: income statement, balance sheet and cash flow

Flotek Industries 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), Flotek Industries Inc reported revenue of $237.3M (+26.9% year on year) and net income of $30.5M (+190.8% year on year).

Income statement

Flotek Industries Inc income statement, fiscal years

Line item	Dec 31, 2025 · FY	Dec 31, 2024 · FY	Dec 31, 2023 · FY	Dec 31, 2022 · FY
Total revenues	$237.3M	$187.0M	$188.1M	$54.3M
Cost of sales	$177.4M	$147.6M	$163.8M	$142.8M
Gross profit	$59.8M	$39.4M	$24.3M	($6.7M)
Selling, general, and administrative	$28.0M	$24.7M	$27.9M	$27.1M
Asset acquisition expenses	$4.4M	—	—	—
Depreciation	$1.8M	$891.0K	$734.0K	$734.0K
Research and development	$1.8M	$1.7M	$2.5M	$4.4M
Severance expense	$530.0K	—	($46.0K)	—
Gain on sale of property and equipment	($7.0K)	($124.0K)	($38.0K)	($2.9M)
Total operating costs and expenses	$36.6M	$27.2M	$1.0M	$28.7M
Income from operations	$23.2M	$12.2M	$23.2M	($35.4M)
Interest expense	($3.9M)	($1.1M)	($2.9M)	($7.1M)
Other income, net	$348.0K	$46.0K	($26.0K)	$145.0K
Total other expense	($3.6M)	($1.0M)	$1.6M	($6.9M)
Income before income taxes	$19.7M	$11.1M	$24.9M	($42.3M)
Income tax benefit (expense)	$10.9M	($649.0K)	($149.0K)	$22.0K
Net income	$30.5M	$10.5M	$24.7M	($42.3M)
Basic (in dollars per share)	$0.90	$0.36	$1.00	-$0.57
Diluted (in dollars per share)	$0.84	$0.34	-$0.10	-$0.57
Weighted average common shares used in computing basic income per common share (in shares)	33.9M	29.5M	24.8M	74.4M
Weighted average common shares used in computing diluted income per common share (in shares)	36.2M	30.9M	28.4M	74.4M

Flotek Industries Inc income statement, quarters

Line item	Jun 30, 2026 · Q2	Mar 31, 2026 · Q1	Sep 30, 2025 · Q3	Jun 30, 2025 · Q2
Total revenues	$99.4M	$70.1M	$56.0M	$58.4M
Cost of sales	$75.6M	$54.5M	$38.2M	$43.9M
Gross profit	$23.8M	$15.5M	$17.8M	$14.4M
Selling, general, and administrative	$7.7M	$6.9M	$7.4M	$6.8M
Asset acquisition expenses	$0	—	$167.0K	$4.2M
Depreciation	$664.0K	$631.0K	$581.0K	$374.0K
Research and development	$497.0K	$396.0K	$549.0K	$455.0K
Gain on sale of property and equipment	$0	$0	$0	$0
Total operating costs and expenses	$8.9M	$8.0M	$8.7M	$11.8M
Income from operations	$14.9M	$7.6M	$9.1M	$2.6M
Interest expense	($1.4M)	($1.3M)	($1.4M)	($983.0K)
Other income, net	$19.0K	$16.0K	($8.0K)	$181.0K
Total other expense	($1.4M)	($1.3M)	($1.4M)	($802.0K)
Income before income taxes	$13.5M	$6.3M	$7.7M	$1.8M
Income tax expense	($3.6M)	($1.6M)	$12.6M	($17.0K)
Net income	$10.0M	$4.7M	$20.4M	$1.8M
Basic (in dollars per share)	$0.28	$0.13	$0.57	$0.05
Diluted (in dollars per share)	$0.26	$0.12	$0.53	$0.05
Weighted average common shares used in computing basic income per common share (in shares)	36.2M	36.1M	35.9M	33.9M
Weighted average common shares used in computing diluted income per common share (in shares)	38.5M	38.3M	38.1M	36.2M

Balance sheet

Flotek Industries 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	$5.7M	$4.4M	$5.9M	$12.3M
Restricted cash	$104.0K	$102.0K	$102.0K	$100.0K
Accounts Receivable	$12.3M	$69.8M	$48.3M	$19.1M
Inventories, net	$10.6M	$13.3M	$12.8M	$15.7M
Other current assets	$3.4M	$3.0M	$3.6M	$4.0M
Current contract asset	$7.6M	$5.9M	$5.8M	$7.1M
Total current assets	$110.8M	$96.5M	$76.4M	$81.1M
Long-term contract asset	$55.1M	$63.1M	$68.8M	$72.6M
Property and equipment, net	$20.3M	$6.2M	$5.1M	$4.8M
Right-of-use assets	$3.1M	—	—	—
Deferred tax assets, net	$29.2M	$51.0K	$300.0K	$404.0K
Other long-term assets	$1.6M	$1.7M	$1.8M	$17.0K
TOTAL ASSETS	$220.0M	$170.8M	$157.5M	$164.8M
Accounts payable	$48.3M	$38.1M	$31.7M	$33.4M
Accrued liabilities	$7.3M	$5.9M	$5.9M	$9.0M
Income taxes payable	$258.0K	$48.0K	$45.0K	$97.0K
Interest payable, related party	$1.0M	—	—	—
Current portion of operating lease liabilities	$1.3M	$1.5M	$2.4M	$3.3M
Current portion of finance lease liabilities	$153.0K	$0	$22.0K	$36.0K
Asset-based loan	$3.3M	$4.8M	$7.5M	—
Current portion of long-term debt	$0	$60.0K	$179.0K	$2.1M
Total current liabilities	$61.6M	$50.4M	$47.8M	$151.4M
Deferred revenue, long-term	$0	$14.0K	$35.0K	$44.0K
Note payable - related party, net of deferred financing costs	$39.6M	—	—	—
Long-term operating lease liabilities	$5.6M	$6.5M	$7.7M	$8.0M
Long-term finance lease liabilities	$224.0K	—	$0	$19.0K
TOTAL LIABILITIES	$107.0M	$56.9M	$55.6M	$162.2M
Preferred stock, $0.0001 par value, 100,000 shares authorized; no shares issued and outstanding	0	0	0	0
Common stock, $0.0001 par value, 240,000,000 shares authorized; 31,320,960 shares issued and 30,130,480 shares outstanding at December 31, 2025; 30,938,073 shares issued and 29,826,508 shares outstanding at December 31, 2024	3.0K	3.0K	3.0K	8.0K
Additional paid-in capital	$435.0M	$464.6M	$463.1M	$388.2M
Accumulated other comprehensive income	$96.0K	$251.0K	$127.0K	$181.0K
Accumulated deficit	($285.8M)	($316.3M)	($326.8M)	($351.5M)
Treasury stock, at cost; 1,190,480 and 1,111,565 shares at December 31, 2025 and December 31, 2024, respectively	-36.2M	-34.7M	-34.5M	-34.3M
Total stockholders’ equity	$113.1M	$113.9M	$102.0M	$2.6M
TOTAL LIABILITIES AND STOCKHOLDERS’ EQUITY	$220.0M	$170.8M	$157.5M	$164.8M

Flotek Industries Inc balance sheet, quarters

Line item	Jun 30, 2026	Mar 31, 2026	Sep 30, 2025	Jun 30, 2025
Cash and cash equivalents	$4.4M	$5.7M	$4.6M	$5.0M
Restricted cash	$104.0K	$104.0K	$103.0K	$103.0K
Accounts Receivable	$114.1M	$82.8M	$13.7M	$59.6M
Equipment credit, related party	$9.5M	$11.8M	—	—
Inventories, net	$26.6M	$14.3M	$13.2M	$12.3M
Other current assets	$3.3M	$2.7M	$2.3M	$3.1M
Current contract asset	$9.5M	$8.4M	$8.2M	$6.7M
Total current assets	$167.5M	$125.8M	$100.0M	$86.8M
Long-term contract asset	$48.6M	$52.1M	$56.7M	$59.4M
Property and equipment, net	$23.2M	$21.9M	$20.8M	$21.2M
Right-of-use assets	$2.7M	$2.9M	$3.3M	$3.2M
Deferred tax assets, net	$24.4M	$27.6M	$30.4M	$35.0K
Other long-term assets	$1.5M	$1.6M	$1.6M	$1.6M
TOTAL ASSETS	$268.0M	$231.8M	$212.7M	$172.2M
Accounts payable	$74.5M	$52.6M	$35.1M	$36.4M
Accrued liabilities	$6.1M	$8.8M	$12.2M	$11.2M
Income taxes payable	$593.0K	$295.0K	$197.0K	$85.0K
Interest payable, related party	$997.0K	$986.0K	$1.0M	$701.0K
Current portion of operating lease liabilities	$1.3M	$1.3M	$1.2M	$1.2M
Current portion of finance lease liabilities	$160.0K	$156.0K	$149.0K	$146.0K
Asset-based loan	$10.4M	$4.7M	$6.7M	$5.1M
Total current liabilities	$94.1M	$68.7M	$56.5M	$54.7M
Deferred revenue, long-term	$55.0K	—	$0	$0
Note payable - related party, net of deferred financing costs	$39.6M	$39.6M	$39.6M	$39.5M
Long-term operating lease liabilities	$4.8M	$5.1M	$5.9M	$5.9M
Long-term finance lease liabilities	$142.0K	$184.0K	$264.0K	$302.0K
TOTAL LIABILITIES	$138.8M	$113.7M	$102.2M	$100.4M
Preferred stock, $0.0001 par value, 100,000 shares authorized; no shares issued and outstanding	0	0	0	0
Common stock, $0.0001 par value, 240,000,000 shares authorized; 37,440,565 shares issued and 36,217,709 shares outstanding at June 30, 2026; 31,320,960 shares issued and 30,130,480 shares outstanding at December 31, 2025	4.0K	4.0K	3.0K	3.0K
Additional paid-in capital	$437.1M	$435.8M	$433.9M	$415.6M
Accumulated other comprehensive income	$153.0K	$130.0K	$109.0K	$96.0K
Accumulated deficit	($271.2M)	($281.1M)	($288.8M)	($309.2M)
Treasury stock, at cost; 1,222,856 and 1,190,480 shares at June 30, 2026 and December 31, 2025, respectively	-36.9M	-36.7M	-34.7M	-34.7M
Total stockholders’ equity	$129.2M	$118.2M	$110.5M	$71.8M
TOTAL LIABILITIES AND STOCKHOLDERS’ EQUITY	$268.0M	$231.8M	$212.7M	$172.2M

Cash flow statement

Flotek Industries 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 income	$30.5M	$10.5M	$24.7M	($42.3M)
Change in fair value of contingent consideration	($127.0K)	$71.0K	($527.0K)	($25.0K)
Amortization of contract assets	$6.3M	$5.6M	$5.0M	$3.4M
Depreciation	$1.8M	$891.0K	$734.0K	$734.0K
Amortization of deferred financing costs	$345.0K	$0	$83.0K	$1.0M
Provision for credit losses, net of recoveries	$603.0K	$181.0K	$138.0K	$203.0K
Provision for excess and obsolete inventory	$442.0K	$645.0K	$959.0K	$1.7M
Gain on sale of property and equipment	($7.0K)	($124.0K)	($38.0K)	($2.9M)
Non-cash lease expense	$1.0M	$2.1M	$3.0M	$226.0K
Stock compensation expense	$2.3M	$1.4M	($254.0K)	$3.3M
Deferred income tax (benefit) expense	($11.2M)	$249.0K	$104.0K	($125.0K)
Accounts receivable	($2.3M)	($3.9M)	$5.3M	($7.3M)
Accounts receivable, related party	($36.6M)	($17.8M)	($11.9M)	($21.4M)
Inventories	$3.1M	($1.1M)	$1.9M	($7.9M)
Income tax receivable	($32.0K)	$8.0K	$0	$14.0K
Other assets	($473.0K)	$561.0K	($836.0K)	($285.0K)
Accounts payable	$10.2M	$6.4M	($1.7M)	$25.8M
Accrued liabilities	$1.5M	($70.0K)	($2.6M)	($34.0K)
Operating lease liabilities	($1.4M)	($2.5M)	($3.4M)	($507.0K)
Income taxes payable	$210.0K	$3.0K	($53.0K)	$93.0K
Interest payable, related party	$1.0M	—	—	—
Net cash provided by operating activities	$7.2M	$3.4M	($11.3M)	($44.6M)
Capital expenditures	($2.0M)	($1.9M)	($1.1M)	($421.0K)
Proceeds from sale of assets	$7.0K	$124.0K	$67.0K	$5.8M
Net cash used in investing activities	($2.0M)	($1.8M)	($1.0M)	$5.3M
Payments on long term debt	($60.0K)	($179.0K)	($149.0K)	—
Proceeds from asset-based loan	$186.9M	$166.9M	$68.7M	—
Payments on asset-based loan	($188.4M)	($169.7M)	($61.2M)	—
Payments of asset-based loan origination costs	($169.0K)	—	—	—
Payment of note payable issuance costs	($480.0K)	($164.0K)	($574.0K)	—
Payment of stock warrant issuance costs	($653.0K)	—	$0	($1.2M)
Payments to tax authorities for shares withheld from employees	-1.6M	-162.0K	-268.0K	-224.0K
Proceeds from issuance of stock under Employee Stock Purchase Plan	$155.0K	$114.0K	$77.0K	$133.0K
Proceeds from stock option exercises	$576.0K	—	—	—
Payments for finance leases	($96.0K)	($22.0K)	($33.0K)	($38.0K)
Net cash used in financing activities	($3.7M)	($3.1M)	$5.9M	$38.3M
Effect of changes in exchange rates on cash and cash equivalents	($155.0K)	$124.0K	($54.0K)	$100.0K
Net change in cash and cash equivalents and restricted cash	$1.3M	($1.4M)	($6.4M)	($934.0K)
Cash and cash equivalents at the beginning of the period	$4.4M	$5.9M	$12.3M	$11.5M
Restricted cash at the beginning of the period	$102.0K	$102.0K	$100.0K	$1.8M
Cash and cash equivalents and restricted cash at the beginning of the period	$4.5M	$6.0M	$12.4M	$13.3M
Cash and cash equivalents at the end of the period	$5.7M	—	—	—
Restricted cash at the end of the period	$104.0K	—	—	—
Cash and cash equivalents and restricted cash at the end of the period	$5.8M	—	—	—

Flotek Industries 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	$14.6M	$4.7M	$27.5M	$7.1M
Change in fair value of contingent consideration	$0	$0	($127.0K)	($127.0K)
Amortization of contract assets	$4.7M	$2.2M	$4.2M	$2.9M
Depreciation	$1.3M	$631.0K	$1.2M	$626.0K
Amortization of deferred financing costs	$189.0K	$95.0K	$252.0K	$157.0K
Provision for credit losses, net of recoveries	$197.0K	$56.0K	$555.0K	$261.0K
Provision for excess and obsolete inventory	$1.1M	$396.0K	$307.0K	$250.0K
Gain on sale of property and equipment	$0	$0	($7.0K)	($7.0K)
Non-cash lease expense	$378.0K	$188.0K	$840.0K	$624.0K
Stock compensation expense	$2.0M	$824.0K	$1.7M	$1.1M
Deferred income tax expense	$4.7M	$1.6M	($12.8M)	$16.0K
Accounts receivable	($24.6M)	($2.8M)	($9.9M)	($5.1M)
Accounts receivable, related party	($19.5M)	($9.8M)	($10.0M)	($2.5M)
Inventories	($16.6M)	($4.1M)	$462.0K	$1.4M
Income tax receivable	$20.0K	$20.0K	($32.0K)	($32.0K)
Other assets	$52.0K	$663.0K	$724.0K	($155.0K)
Accounts payable	$26.2M	$4.2M	($3.0M)	($1.7M)
Accrued liabilities	($1.1M)	$1.5M	($874.0K)	($1.9M)
Operating lease liabilities	($686.0K)	($423.0K)	($1.2M)	($935.0K)
Income taxes payable	$335.0K	$37.0K	$149.0K	$37.0K
Interest payable, related party	($11.0K)	($22.0K)	$1.0M	$701.0K
Net cash (used in) provided by operating activities	($6.6M)	$21.0K	$957.0K	$2.8M
Capital expenditures	($1.2M)	($1.0M)	($1.7M)	($1.3M)
Proceeds from sale of assets	$0	$0	$7.0K	$7.0K
Net cash used in investing activities	($1.2M)	($1.0M)	($1.7M)	($1.3M)
Payments on long term debt	$0	$0	($60.0K)	($60.0K)
Proceeds from asset-based loan	$122.2M	$55.1M	$147.0M	$107.0M
Payments on asset-based loan	($115.1M)	($53.8M)	($145.1M)	($106.7M)
Payments of asset-based loan origination costs	($8.0K)	—	($150.0K)	—
Payment of note payable issuance costs	$0	—	($480.0K)	($480.0K)
Payment of stock warrant issuance costs	$0	—	($653.0K)	($456.0K)
Proceeds from exercise of April 2025 Warrant	$1.0K	$1.0K	—	—
Payments to tax authorities for shares withheld from employees	-644.0K	-456.0K	-82.0K	-60.0K
Proceeds from issuance of stock under Employee Stock Purchase Plan	$83.0K	$44.0K	$113.0K	$68.0K
Proceeds from stock option exercises	$8.0K	$6.0K	$574.0K	$8.0K
Payments for finance leases	($75.0K)	($37.0K)	($60.0K)	($25.0K)
Net cash provided by (used in) financing activities	$6.4M	$892.0K	$1.1M	($740.0K)
Effect of changes in exchange rates on cash and cash equivalents	$57.0K	$34.0K	($142.0K)	($155.0K)
Net change in cash and cash equivalents and restricted cash	($1.3M)	($55.0K)	$200.0K	$625.0K
Cash and cash equivalents at the beginning of the period	$5.7M	$5.7M	$4.4M	$4.4M
Restricted cash at the beginning of the period	$104.0K	$104.0K	$102.0K	$102.0K
Cash and cash equivalents and restricted cash at the beginning of the period	$5.8M	$5.8M	$4.5M	$4.5M
Cash and cash equivalents at the end of the period	$4.4M	$5.7M	—	—
Restricted cash at the end of the period	$104.0K	$104.0K	—	—
Cash and cash equivalents and restricted cash at the end of the period	$4.5M	$5.8M	—	—

Flotek Industries Inc score and earnings-call analysis · All covered companies

Figures as reported in SEC filings. General information, not investment advice.