Forum Energy Technologies, Inc. reported a decline in financial performance for the third quarter of 2025, with revenues totaling $196.2 million, a decrease of 5.6% from $207.8 million in the same period last year. The company's net loss for the quarter was $20.6 million, compared to a loss of $14.8 million in the prior year, resulting in a loss per share of $1.76, up from $1.20. For the nine months ending September 30, 2025, total revenue was $589.3 million, down 4.2% from $615.4 million in 2024, while the net loss improved to $11.7 million from $31.8 million year-over-year.
The decline in revenue was primarily attributed to reduced global drilling and completions activity, as well as tariff impacts affecting the Valve Solutions product line. The Drilling and Completions segment generated $117.5 million in revenue, a 5.0% decrease, while the Artificial Lift and Downhole segment saw a 6.2% decline to $79.0 million. The company also reported significant inventory write-downs and asset impairments totaling $21.1 million, which contributed to the operating loss of $6.1 million for the quarter.
In terms of operational developments, Forum Energy Technologies has been focusing on strategic decisions to consolidate facilities and discontinue certain products. The company has also engaged in sale-leaseback transactions, generating approximately $14.6 million in proceeds during the nine months ended September 30, 2025. The company’s total assets decreased to $770.1 million from $815.9 million at the end of 2024, with cash and cash equivalents at $31.7 million.
Looking ahead, Forum Energy Technologies anticipates that the long-term demand for energy will continue to rise, with hydrocarbons playing a vital role alongside the development of renewable energy sources. The company expects to maintain adequate liquidity through cash on hand and cash flows from operations, with an estimated availability of $85.7 million under its Credit Facility. The company plans to continue monitoring market conditions and adjusting its strategies accordingly, particularly in light of ongoing macroeconomic uncertainties and fluctuations in energy prices.
About FORUM ENERGY TECHNOLOGIES, INC.
Forum Energy Technologies, Inc. is a global manufacturer serving the oil, natural gas, industrial, and renewable energy sectors. It offers engineered capital equipment, consumables, and technical services for drilling, subsea, well completion, artificial lift, and production applications. Its products enhance safety, efficiency, and environmental performance for customers worldwide, supporting both traditional hydrocarbon extraction and renewable energy projects through diverse, technologically advanced solutions.
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