Nine Energy Service, Inc. reported its financial results for the second quarter and first half of 2025, revealing a revenue increase of 11% year-over-year for the quarter, totaling $147.3 million, compared to $132.4 million in the same period of 2024. For the first six months of 2025, revenues reached $297.7 million, an 8% increase from $274.5 million in the first half of 2024. The company experienced a net loss of $10.4 million for the second quarter, a 26% improvement from the $14.0 million loss reported in the prior year. For the first half, the net loss was $17.5 million, down from $22.1 million in the same period last year.

The increase in revenue was primarily driven by higher cementing and wireline service revenues, which rose by 14% and 18%, respectively, due to increased job counts and completed stages. However, the company faced pricing pressures in its coiled tubing services, which saw a revenue decline of 4%. Overall, the cost of revenues increased by 8% to $121.4 million for the second quarter, influenced by higher material and labor costs. Adjusted gross profit for the quarter improved by 27% to $25.8 million, reflecting the positive impact of increased revenues despite rising costs.

In terms of strategic developments, Nine Energy Service has made significant changes to its capital structure, including the establishment of a new asset-based revolving credit facility in May 2025, which provides up to $125 million in borrowing capacity. This facility replaced the previous credit agreement and is expected to enhance the company's liquidity position. As of June 30, 2025, the company reported total liquidity of $65.5 million, including $14.2 million in cash and cash equivalents and $51.3 million available under the new credit facility.

Operationally, Nine Energy Service has focused on expanding its service offerings and geographic reach. The company reported an increase in its employee headcount, reflecting its commitment to enhancing service delivery and operational efficiency. The company continues to monitor market conditions closely, particularly the volatility in oil and natural gas prices, which significantly influence its business. The outlook for the remainder of 2025 remains cautious, with expectations of potential revenue declines in the third quarter due to reduced activity levels and pricing pressures.

Looking ahead, Nine Energy Service aims to navigate the challenging market environment by pursuing growth opportunities, including potential acquisitions and expanding its international tools business. The company remains committed to improving operational efficiencies and maintaining a strong focus on customer relationships to enhance its market position in the oilfield services sector.

About Nine Energy Service, Inc.

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