Team, Inc. reported its financial results for the third quarter of 2025, revealing a revenue increase of 6.7% to $224.976 million, compared to $210.758 million in the same period last year. The growth was driven by a 5.7% rise in revenues from the Inspection and Heat-Treating (IHT) segment, which generated $113.778 million, and a 7.8% increase in the Mechanical Services (MS) segment, which brought in $111.198 million. Despite the revenue growth, the company recorded a net loss of $11.447 million, slightly higher than the loss of $11.126 million reported in the prior year.
In the nine-month period ending September 30, 2025, Team, Inc. achieved total revenues of $671.657 million, up 5.1% from $638.976 million in the same timeframe last year. The IHT segment saw a notable increase of 9.4% in revenue, primarily due to significant turnaround projects and enhanced non-destructive evaluation services. However, the MS segment's revenue growth was modest at 0.8%, impacted by decreased project activity in international markets. The overall operating income for the nine months was $7.442 million, a decrease from $7.931 million in the previous year, largely due to increased corporate expenses.
The company undertook strategic financing activities, including the issuance of 75,000 shares of Series B Preferred Stock and warrants for a total of $75 million on September 11, 2025. This capital was primarily used to repay existing debt and improve liquidity. As of September 30, 2025, Team, Inc. had total debt and finance lease obligations of $302.8 million, a decrease from $325.1 million at the end of 2024, reflecting the impact of the recent financing transactions.
Operationally, Team, Inc. reported a significant increase in customer engagement, with a notable rise in U.S. turnaround activities contributing to revenue growth. However, the company faced challenges in international markets, particularly in the UK and Latin America, where demand for certain services declined. The total employee headcount remained stable, and the company continues to focus on enhancing its service offerings and expanding its market presence.
Looking ahead, Team, Inc. anticipates continued revenue growth driven by increased demand for its services, particularly in the U.S. market. However, the company remains cautious about potential economic uncertainties and market conditions that could impact its operations. Management emphasized the importance of maintaining liquidity and compliance with debt covenants as it navigates these challenges.
About TEAM INC
Team, Inc. provides specialized industrial services including inspection, non-destructive testing, heat treating, and mechanical maintenance for heavy industries such as energy, manufacturing, pipeline, infrastructure, aerospace, and defense. Operating globally, it offers integrated solutions to ensure asset safety, reliability, and efficiency. The company emphasizes safety, quality, innovation, and ESG practices, serving diverse customers with a focus on operational uptime and regulatory compliance.
About 10-Q Filings
A 10-Q form is an important financial report that public companies in the United States must submit every three months. It gives a clear picture of a company's financial health and recent performance.
Key points about the 10-Q:
- Frequency: Companies file it three times a year, covering the first three quarters. The fourth quarter is covered in a more comprehensive annual report.
-
Content: It includes:
- Financial statements showing the company's current financial position
- Updates from management on the performance and projections of the business
- Information about potential risks the company faces
- Details on how the company is run internally
- Deadline: Must be filed within 40 or 45 days after the quarter ends, depending on the size of the company.
Our Methodology
AssetRoom is committed to providing timely summaries of news from public companies. We use AI to generate these summaries quickly, but they are not reviewed by human experts.
Our method:
- Data Collection: We continuously monitor for new filings (currently limited to US-listed stocks).
- AI-Powered Analysis: Our advanced AI system processes each filing, identifying key information and extracting relevant data.
- Summary Generation: The AI creates a concise, easy-to-understand summary of the filing, highlighting the most important points.
- Publication: The summary is immediately published on our platform, allowing users instant access to the latest information.
- Email users: We distribute round-up emails according to our users preferences, keeping them in the loop with the companies they follow.
Feedback & Corrections
Spot an error or have a suggestion? Contact us.