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Expro Group Holdings (XPRO) investor relations material
Expro Group Holdings Q3 2025 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Executive summary
Q3 2025 revenue was $411 million, with adjusted EBITDA of $94 million (22.8% margin) and net income of $14 million, reflecting record free cash flow and margin expansion.
Share repurchases totaled $25 million in Q3 and $40 million year-to-date, reaching the annual target ahead of schedule.
Maintains a $2.3 billion backlog, providing strong revenue visibility and supporting strategic planning.
Net income rose 59% year-over-year to $45.9 million for the nine months ended September 30, 2025, with margin improving to 3.7%.
Completed the Coretrax acquisition, adding $100 million in goodwill and $101.7 million in intangible assets.
Financial highlights
Q3 2025 revenue: $411 million; adjusted EBITDA: $94 million (22.8% margin), up from 22.3% in Q2 2025; net income: $14 million.
Adjusted free cash flow: $46 million (11% of revenue), highest in company history.
Total liquidity at quarter-end: $532 million, including $199 million in cash; long-term borrowings: $99 million.
Net income margin for the nine months ended September 30, 2025, was 3.7%, up from 2.3% in the prior year.
Capital expenditures: $24 million in Q3, with 90% supporting customer activities.
Outlook and guidance
Raised 2025 adjusted EBITDA guidance to $350–$360 million and free cash flow to $110–$120 million; CapEx guidance lowered to $110–$120 million.
2025 revenue guidance revised to $1.6–$1.65 billion; backlog of $2.3 billion provides long-term visibility.
2026 activity expected to be flat or slightly down versus 2025, with margin expansion and higher free cash flow targeted.
Offshore sector recovery anticipated in H2 2026 and into 2027, led by Latin America, Middle East, and West Africa.
Capital expenditures for the remainder of 2025 estimated at $30–$40 million.
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