National Energy Services Reunited Corp. (NESR) reported a total revenue of $1.32 billion for the fiscal year ending December 31, 2025, marking a slight increase from $1.30 billion in 2024. However, the company's net income decreased to $51.1 million from $76.3 million in the previous year, reflecting a decline in profitability. The gross profit margin also fell to 12.4% from 16.0%, attributed to increased costs associated with service delivery, particularly in Saudi Arabia. The company's cost of services rose to $1.16 billion, representing 87.6% of total revenue, compared to 84.0% in 2024.
In terms of operational performance, NESR's Production Services segment generated $816 million in revenue, down from $878 million in 2024, primarily due to reduced hydraulic fracturing stages and coiled tubing activity. Conversely, the Drilling and Evaluation Services segment saw revenue growth to $508 million from $424 million, driven by increased well testing activity and contributions from the Roya™ advanced directional drilling technology platform. The company employed 7,352 individuals as of December 31, 2025, up from 6,554 in 2024, indicating a strategic focus on expanding its workforce to support operational demands.
Strategically, NESR has continued to enhance its service offerings, launching the NESR Environmental and Decarbonization Applications (NEDA) service line in 2024, which focuses on decarbonization and water stewardship in the oil and gas sector. The company also made significant investments in technology partnerships and research and development, totaling $25.2 million in 2025, aimed at expanding its capabilities in environmental services and drilling technologies. The company’s geographic footprint remains concentrated in the MENA region, where it generated approximately 99% of its revenue.
Looking ahead, NESR anticipates continued demand for its services, supported by stable oil prices and ongoing investments from national oil companies in the MENA region. However, the company acknowledges potential risks, including geopolitical tensions and fluctuations in oil prices, which could impact customer spending and operational performance. The management remains focused on maintaining liquidity and financial flexibility, with cash and cash equivalents reported at $124.8 million as of December 31, 2025, alongside a commitment to strategic acquisitions to bolster growth.
About National Energy Services Reunited Corp.
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