Nine Energy Service Inc (NINE) financial statements: income statement, balance sheet and cash flow
Nine Energy Service 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), Nine Energy Service Inc reported revenue of $561.9M (+1.4% year on year) and net income of ($51.3M) (-24.9% year on year).
Income statement
Nine Energy Service Inc income statement, fiscal years
Line item
Dec 31, 2025 · FY
Dec 31, 2024 · FY
Dec 31, 2023 · FY
Dec 31, 2022 · FY
Revenues
$561.9M
$554.1M
$609.5M
$593.4M
Cost of revenues (exclusive of depreciation and amortization shown separately below)
$467.4M
$456.7M
$490.8M
$457.1M
General and administrative expenses
$59.7M
$51.3M
$59.8M
$51.7M
Depreciation
$23.2M
$25.6M
$29.1M
$26.8M
Amortization of intangibles
$11.2M
$11.2M
$11.5M
$13.5M
Loss on revaluation of contingent liability
$217.0K
$104.0K
$437.0K
$454.0K
Loss (gain) on sale of property and equipment
($2.1M)
$256.0K
$292.0K
$367.0K
Income from operations
$2.3M
$8.9M
$17.6M
$43.6M
Interest expense
$55.2M
$51.3M
$51.1M
$32.5M
Interest income
($683.0K)
($849.0K)
($1.3M)
($305.0K)
Other income
($684.0K)
($648.0K)
($648.0K)
($709.0K)
Loss before income taxes
($51.5M)
($40.9M)
($31.6M)
$14.9M
Provision (benefit) for income taxes
($171.0K)
$198.0K
$585.0K
$546.0K
Net loss
($51.3M)
($41.1M)
($32.2M)
$14.4M
Basic (in dollars per share)
-$1.25
-$1.11
-$0.97
$0.47
Diluted (in dollars per share)
-$1.25
-$1.11
-$0.97
$0.45
Basic (in shares)
40.9M
37.2M
33.3M
30.9M
Diluted (in shares)
40.9M
37.2M
33.3M
32.3M
Foreign currency translation adjustments, net of $0 tax in each period
$219.0K
($547.0K)
($31.0K)
($293.0K)
Total other comprehensive income (loss), net of tax
$219.0K
($547.0K)
($31.0K)
($293.0K)
Total comprehensive loss
($51.1M)
($41.6M)
($32.2M)
$14.1M
Nine Energy Service Inc income statement, quarters
Line item
Jun 30, 2026 · Q2
Sep 30, 2025 · Q3
Jun 30, 2025 · Q2
Mar 31, 2025 · Q1
Revenues
$141.8M
$132.0M
$147.3M
$150.5M
Cost of revenues (exclusive of depreciation and amortization shown separately below)
$121.9M
$111.7M
$121.4M
$122.5M
General and administrative expenses
$15.6M
$12.8M
$13.9M
$13.3M
Depreciation
$7.0M
$5.8M
$5.8M
$5.8M
Amortization of intangibles
$205.0K
$2.8M
$2.8M
$2.8M
Loss on revaluation of contingent liability
$0
$96.0K
$48.0K
$25.0K
Gain on sale of property and equipment
($23.0K)
$61.0K
($80.0K)
$446.0K
Income (loss) from operations
($2.9M)
($1.2M)
$3.4M
$5.6M
Interest expense
$1.9M
$13.7M
$14.7M
$12.9M
Interest income
($99.0K)
($114.0K)
($319.0K)
($139.0K)
Other income
($162.0K)
($173.0K)
($187.0K)
($162.0K)
Loss before income taxes
($4.5M)
($14.6M)
($10.8M)
($6.9M)
Provision (benefit) for income taxes
$384.0K
$53.0K
($454.0K)
$115.0K
Net loss
($4.9M)
($14.6M)
($10.4M)
($7.1M)
Basic (in usd per share)
-$0.35
-$0.35
-$0.25
-$0.18
Diluted (in usd per share)
-$0.35
-$0.35
-$0.25
-$0.18
Basic (in shares)
13.9M
41.3M
40.9M
40.2M
Diluted (in shares)
13.9M
41.3M
40.9M
40.2M
Foreign currency translation adjustments, net of $0 tax in each period
($96.0K)
$51.0K
$228.0K
$262.0K
Total other comprehensive income (loss), net of tax
($96.0K)
$51.0K
$228.0K
$262.0K
Total comprehensive loss
($5.0M)
($14.6M)
($10.2M)
($6.8M)
Balance sheet
Nine Energy Service 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
$18.4M
$27.9M
$30.8M
$17.4M
Restricted cash
$1.4M
—
—
—
Accounts receivable, net
$76.0M
$81.2M
$88.4M
$105.3M
Income taxes receivable
$0
$284.0K
$490.0K
$741.0K
Inventories, net
$56.6M
$50.8M
$54.5M
$62.0M
Prepaid expenses
$13.5M
$10.0M
—
—
Other current assets
$2.9M
$380.0K
—
—
Total current assets
$168.8M
$170.5M
$183.6M
$196.7M
Property and equipment, net
$64.3M
$70.5M
$82.4M
$89.7M
Operating lease right of use assets, net
$34.1M
$37.3M
$42.1M
$36.3M
Finance lease right of use assets, net
$16.0K
$29.0K
$51.0K
$547.0K
Intangible assets, net
$68.1M
$79.2M
$90.4M
$101.9M
Other long-term assets
$4.2M
$2.6M
$3.4M
$1.6M
Total assets
$339.5M
$360.1M
$402.0M
$426.8M
Accounts payable
$43.6M
$36.1M
$33.4M
$42.2M
Accrued expenses
$27.8M
$30.7M
$36.2M
$28.4M
Income taxes payable
$356.0K
—
—
—
Current portion of long-term debt
$6.3M
$3.6M
$2.9M
$2.3M
Current portion of operating lease obligations
$13.4M
$11.2M
$10.3M
$8.0M
Current portion of finance lease obligations
$6.0K
$21.0K
$31.0K
$178.0K
Total current liabilities
$91.4M
$81.5M
$82.8M
$81.0M
Long-term debt
$341.6M
$317.3M
$320.5M
$338.0M
Long-term operating lease obligations
$21.4M
$26.7M
$32.6M
$29.4M
Other long-term liabilities
$87.0K
$621.0K
$1.7M
$1.9M
Total liabilities
$454.4M
$426.1M
$437.6M
$450.3M
Common stock (120,000,000 shares authorized at $0.01 par value; 43,326,339 and 42,348,643 shares issued and outstanding at December 31, 2025 and 2024 respectively)
433.0K
423.0K
353.0K
332.0K
Additional paid-in capital
$808.4M
$806.2M
$795.1M
$775.0M
Accumulated other comprehensive loss
($5.2M)
($5.4M)
($4.9M)
($4.8M)
Accumulated deficit
($918.6M)
($867.3M)
($826.2M)
($794.0M)
Total stockholders’ equity (deficit)
($115.0M)
($66.1M)
($35.6M)
($23.5M)
Total liabilities and stockholders’ equity (deficit)
$339.5M
$360.1M
$402.0M
$426.8M
Nine Energy Service Inc balance sheet, quarters
Line item
Jun 30, 2026
Mar 31, 2026
Sep 30, 2025
Jun 30, 2025
Cash and cash equivalents
$16.8M
$11.2M
$14.4M
$14.2M
Restricted cash
$1.4M
$10.6M
$2.1M
$3.5M
Accounts receivable, net
$91.6M
$88.3M
$81.4M
$94.0M
Inventories, net
$48.8M
$50.5M
$56.8M
$54.2M
Prepaid expenses
$11.3M
$12.1M
$6.2M
$8.4M
Other current assets
$1.4M
$2.1M
$2.0M
$1.4M
Total current assets
$171.3M
$174.9M
$162.9M
$175.7M
Property and equipment, net
$106.6M
$109.0M
$66.4M
$68.8M
Operating lease right-of-use assets, net
$30.3M
$32.5M
$35.9M
$37.9M
Finance lease right-of-use assets, net
$36.0K
$52.0K
$19.0K
$22.0K
Intangible assets, net
$8.9M
$9.1M
$70.9M
$73.7M
Other long-term assets
$557.0K
$535.0K
$4.7M
$5.1M
Total assets
$317.7M
$326.0M
$340.7M
$361.2M
Accounts payable
$44.4M
$41.5M
$37.1M
$44.1M
Accrued expenses
$13.9M
$23.7M
$23.3M
$35.6M
Income taxes payable
$381.0K
$374.0K
$169.0K
$136.0K
Current portion of long-term debt
$1.6M
$4.0M
$0
$913.0K
Current portion of operating lease obligations
$12.7M
$12.5M
$13.2M
$13.1M
Current portion of finance lease obligations
$37.0K
$50.0K
$13.0K
$19.0K
Total current liabilities
$73.1M
$82.0M
$73.8M
$93.9M
Long-term debt
$97.3M
$90.4M
$339.4M
$323.5M
Long-term operating lease obligations
$17.2M
$19.6M
$23.3M
$25.4M
Other long-term liabilities
$459.0K
$45.0K
$90.0K
$92.0K
Total liabilities
$188.1M
$192.1M
$436.6M
$442.9M
Predecessor common stock (120,000,000 shares authorized at $0.01 par value; 43,326,339 shares issued and outstanding at December 31, 2025)
139.0K
139.0K
434.0K
434.0K
Additional paid-in capital
$135.6M
$135.1M
$808.0M
$807.5M
Accumulated other comprehensive loss
($64.0K)
$32.0K
($4.9M)
($4.9M)
Accumulated deficit
($6.1M)
($1.3M)
($899.4M)
($884.8M)
Total stockholders’ equity (deficit)
$129.6M
$134.0M
($95.9M)
($81.7M)
Total liabilities and stockholders’ equity (deficit)
$317.7M
$326.0M
$340.7M
$361.2M
Cash flow statement
Nine Energy Service 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
($51.3M)
($41.1M)
($32.2M)
$14.4M
Depreciation
$23.2M
$25.6M
$29.1M
$26.8M
Amortization of intangibles
$11.2M
$11.2M
$11.5M
$13.5M
Amortization of operating leases
$15.2M
$13.3M
$12.5M
$8.7M
Amortization of deferred financing costs and non-cash interest
$14.4M
—
—
—
Provision for doubtful accounts
$15.0K
$526.0K
$333.0K
($166.0K)
Provision for inventory obsolescence
$1.6M
$1.7M
$2.3M
$3.0M
Stock-based compensation expense
$2.2M
$2.9M
$2.2M
$2.4M
Loss (gain) on sale of property and equipment
($2.1M)
$256.0K
$292.0K
$367.0K
Loss on revaluation of contingent liability
$217.0K
$104.0K
$437.0K
$454.0K
Accounts receivable, net
$5.2M
$6.7M
$16.5M
($41.1M)
Inventories, net
($7.1M)
$1.7M
$5.2M
($23.0M)
Prepaid expenses and other current assets
($5.4M)
($995.0K)
$1.1M
($818.0K)
Accounts payable and accrued expenses
$2.7M
($2.1M)
$1.1M
$19.5M
Income taxes receivable/payable
$636.0K
$212.0K
$252.0K
$655.0K
Operating lease obligations
($15.1M)
($13.1M)
($12.3M)
—
Other assets and liabilities
($2.7M)
($1.4M)
($245.0K)
($8.6M)
Net cash used in operating activities
($7.3M)
$13.2M
$45.5M
$16.7M
Proceeds from sales of property and equipment
$189.0K
$585.0K
$606.0K
$3.0M
Proceeds from property and equipment casualty losses
$2.2M
$0
$840.0K
$175.0K
Purchases of property and equipment
($15.9M)
($14.8M)
($24.6M)
($28.6M)
Net cash used in investing activities
($13.6M)
($14.2M)
($23.2M)
($25.4M)
Proceeds from issuance of common stock under ATM program
$0
$8.2M
—
—
Cost of debt issuance
($4.6M)
$0
($6.3M)
—
Proceeds from revolving credit facilities
$65.9M
$3.0M
$40.0M
$24.0M
Payments on revolving credit facilities
($51.0M)
($13.0M)
($15.0M)
($7.0M)
Proceeds from short-term debt
$9.6M
$5.8M
$4.7M
$4.1M
Payments of short-term debt
($6.8M)
($5.0M)
($4.1M)
($2.8M)
Principle payments on finance leases
($33.0K)
($49.0K)
($217.0K)
($1.3M)
Payments of contingent liability
($223.0K)
($604.0K)
($387.0K)
($195.0K)
Net cash provided by (used in) financing activities
$12.9M
($1.7M)
($8.9M)
$4.8M
Impact of foreign currency exchange on cash
$0
($294.0K)
($64.0K)
($168.0K)
Net decrease in cash, cash equivalents, and restricted cash
($8.0M)
($3.0M)
$13.4M
($4.1M)
Cash, cash equivalents, and restricted cash at beginning of period
$27.9M
$30.8M
$17.4M
$21.5M
Cash, cash equivalents, and restricted cash at end of period
$19.8M
—
—
—
Cash paid for interest
$43.2M
$43.9M
$31.4M
$29.7M
Cash paid (refunded) for income taxes
($849.0K)
$525.0K
$563.0K
$116.0K
Capital expenditures in accounts payable and accrued expenses
$2.7M
$889.0K
$1.1M
$3.4M
Nine Energy Service Inc cash flow statement, quarters
Line item
Sep 30, 2025 · YTD
Jun 30, 2025 · YTD
Mar 31, 2025 · Q1
Sep 30, 2024 · YTD
Net loss
($32.1M)
($17.5M)
($7.1M)
($32.2M)
Depreciation
$17.4M
$11.6M
$5.8M
$19.6M
Amortization of intangibles
$8.4M
$5.6M
$2.8M
$8.4M
Amortization of operating leases
$11.1M
$7.1M
$3.4M
$9.9M
Amortization of deferred financing costs and non-cash interest
$10.2M
$6.3M
$2.1M
—
Provision for doubtful accounts
$51.0K
$51.0K
$34.0K
$457.0K
Provision for inventory obsolescence
$1.4M
$1.1M
$611.0K
$987.0K
Stock-based compensation expense
$1.8M
$1.3M
$750.0K
$2.2M
Loss on sale of property and equipment
$427.0K
$366.0K
$446.0K
$485.0K
Loss on revaluation of contingent liability
$169.0K
$73.0K
$25.0K
$191.0K
Accounts receivable, net
($292.0K)
($12.8M)
($14.0M)
$8.3M
Inventories, net
($7.2M)
($4.3M)
($928.0K)
($2.4M)
Prepaid expenses and other current assets
$2.2M
$592.0K
($448.0K)
$3.6M
Accounts payable and accrued expenses
($6.9M)
$12.6M
$4.7M
($16.0M)
Income taxes receivable/payable
$449.0K
$417.0K
$98.0K
($124.0K)
Operating lease obligations
($11.0M)
($7.1M)
($3.4M)
($9.8M)
Other assets and liabilities
($1.2M)
($733.0K)
($302.0K)
($931.0K)
Net cash used in operating activities
($5.1M)
$4.8M
($5.3M)
($1.8M)
Proceeds from sales of property and equipment
$162.0K
$107.0K
$0
$352.0K
Purchases of property and equipment
($13.3M)
($9.9M)
($4.0M)
($11.5M)
Net cash used in investing activities
($13.2M)
($9.7M)
($4.0M)
($11.2M)
Proceeds from issuance of common stock under ATM program
$0
—
—
$8.2M
Proceeds from revolving credit facilities
$65.9M
$52.9M
$4.0M
$3.0M
Payments on revolving credit facilities
($51.0M)
($51.0M)
($4.0M)
($10.0M)
Payments of short-term debt
($3.6M)
($2.7M)
($1.3M)
($2.9M)
Cost of debt issuance
($4.6M)
($4.5M)
—
$0
Principal payments on finance leases
($26.0K)
($20.0K)
($13.0K)
($40.0K)
Payments of contingent liability
($223.0K)
($223.0K)
($223.0K)
($466.0K)
Net cash provided by (used in) financing activities
$6.6M
($5.5M)
($1.6M)
($2.1M)
Impact of foreign currency exchange on cash
$331.0K
$281.0K
$209.0K
($103.0K)
Net decrease in cash and cash equivalents
($11.4M)
($10.1M)
($10.6M)
($15.2M)
Cash, cash equivalents, and restricted cash at beginning of period
$27.9M
$27.9M
$27.9M
$30.8M
Cash, cash equivalents, and restricted cash at end of period
$16.5M
$17.8M
$17.3M
—
Cash paid for interest
$41.6M
$21.6M
$20.6M
$42.7M
Cash paid (refunded) for income taxes
($777.0K)
($777.0K)
$3.0K
$487.0K
Right of use assets obtained in exchange for operating lease obligations
$8.0M
$6.5M
$2.6M
$3.2M
Right of use assets obtained in exchange for finance lease obligations
$26.0K
$26.0K
$26.0K
$26.0K
Capital expenditures in accounts payable and accrued expenses