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Enservco (ENSV) investor relations material
Enservco Q3 2024 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Executive summary
Revenues for Q3 2024 rose 52% year-over-year to $4.0M, driven by the Buckshot acquisition and entry into logistics services.
Net loss from continuing operations improved to $2.0M in Q3 2024 from $2.8M in Q3 2023; YTD net loss from continuing operations was $5.8M, slightly higher than $5.5M YTD 2023.
Segment profit for Q3 2024 was $682K, up from a $528K loss in Q3 2023, reflecting new logistics segment contributions and cost savings.
The company exited the frac water heating business, selling Colorado-based assets for $1.7M and classifying related operations as discontinued.
Adjusted EBITDA loss for Q3 2024 improved to $975K from $1.4M in Q3 2023; YTD Adjusted EBITDA loss was $2.1M, up from $1.8M YTD 2023.
Financial highlights
Q3 2024 revenues: $4.0M (Q3 2023: $2.6M); YTD 2024: $9.1M (YTD 2023: $8.4M).
Q3 2024 net loss: $2.2M (Q3 2023: $3.0M); YTD 2024 net loss: $3.8M (YTD 2023: $6.6M).
Q3 2024 loss from continuing operations: $2.0M; YTD: $5.8M.
Q3 2024 Adjusted EBITDA loss: $975K; YTD: $2.1M.
Cash and cash equivalents at September 30, 2024: $172K; working capital deficit: $5.4M.
Outlook and guidance
Substantial doubt exists about the company's ability to continue as a going concern due to near-term obligations and limited liquidity.
Obligations of $3.3M are due by January 15, 2025, with insufficient cash to meet them; asset sales and vendor negotiations are being pursued.
The company is seeking new debt financing or capital infusions to sustain operations into 2025.
- Revenue up, net loss narrowed, and strategic deals set stage for stronger H2 2024.ENSV
Q2 20241 Feb 2026 - Annual meeting to vote on directors, stock plan, auditor, compensation, and reverse split.ENSV
Proxy Filing2 Dec 2025 - Shareholders must use a new proxy card to vote on directors, compensation, and auditor matters.ENSV
Proxy Filing2 Dec 2025 - Equity line enables up to $10M in funding but poses dilution and volatility risks.ENSV
Registration Filing29 Nov 2025
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