Onterris, Inc., formerly known as Montrose Environmental Group, Inc., reported a decrease in revenue for the first quarter of 2026, with total revenues of $168.5 million, down 5.2% from $177.8 million in the same period last year. The decline was attributed primarily to a $5.8 million drop in environmental emergency response revenues and a contraction in organic growth of $2.6 million, particularly in the Measurement and Analysis segment. The company also noted a $1.0 million decrease in revenues from exited European operations. Despite the overall revenue decline, the Consulting and Treatment segment experienced organic growth, which partially offset the losses.
The company's net loss for the quarter was $12.7 million, a significant improvement compared to a net loss of $19.4 million in the prior year. This reduction in losses was driven by lower selling, general, and administrative expenses, which decreased by 7.4% to $61.3 million, and a reduction in cost of revenues, which fell to $101.5 million from $108.4 million. The loss before income taxes also improved, decreasing from $16.5 million to $10.4 million year-over-year. The net loss per share attributable to common stockholders was $(0.35), compared to $(0.64) in the previous year.
Operationally, Onterris has undergone significant changes, including a reorganization of its reportable segments effective in the first quarter of 2026. The company combined its Assessment, Permitting and Response and Remediation and Reuse segments into a new Consulting and Treatment segment, which is expected to enhance operational efficiency and align with its strategic goals. The Measurement and Analysis segment remains unchanged. As of March 31, 2026, Onterris employed approximately 3,500 individuals across 120 offices in the U.S., Canada, and Australia.
In terms of financial health, Onterris reported total assets of $948.0 million, a decrease from $981.3 million at the end of 2025. Total liabilities also decreased to $507.9 million from $530.1 million, primarily due to a reduction in current liabilities. The company’s long-term debt increased to $310.1 million, reflecting ongoing investments and operational financing needs. The company has a stock repurchase program in place, having repurchased 376,313 shares for approximately $10.0 million during the quarter, with $30.0 million remaining under the program.
Looking ahead, Onterris remains focused on its growth strategy, which includes potential acquisitions to expand its service capabilities and geographic reach. The company anticipates that its operational adjustments and strategic initiatives will position it for improved performance in the coming quarters, despite the challenges posed by market conditions and seasonal fluctuations in demand for its services.
About Montrose Environmental Group, Inc.
Montrose Environmental Group provides comprehensive environmental services across assessment, permitting, response, measurement, analysis, remediation, and reuse. Serving private and public clients globally, it focuses on regulatory compliance, environmental impact mitigation, and innovative solutions for complex environmental challenges. Its business model emphasizes integrated service offerings, strategic acquisitions, technological innovation, and a diversified client base to address growing environmental needs.
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