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Nine Energy Service (NINE) investor relations material
Nine Energy Service Q3 2025 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Q3 2025 earnings summary31 Oct, 2025
Executive summary
Q3 2025 revenue was $132.0 million, with adjusted EBITDA of $9.6 million and a net loss of $14.6 million, falling below original guidance of $135.0–$145.0 million due to rig declines and pricing pressure across all service lines.
International revenue grew by approximately 19% year-over-year for the first nine months of 2025, driven by sales in the UAE, Argentina, and Australia.
A technical milestone was achieved with a proprietary cementing job in the Haynesville Basin.
The quarter was marked by significant rig declines, pricing pressure, and a drop in oil prices, leading to lower activity and earnings across all service lines.
For the nine months ended September 30, 2025, revenue rose 4% to $429.7 million, but net loss remained high at $32.1 million.
Financial highlights
Q3 2025 revenue was $132.0 million (down 4% YoY); adjusted EBITDA was $9.6 million, down from $14.1 million in Q2 2025; net loss was $14.6 million.
Adjusted gross profit for Q3 was $20.3 million; gross profit was $11.9 million.
Net cash used in operating activities was $9.9 million for the quarter.
Cash and cash equivalents stood at $14.4 million, with total liquidity of $40.3 million as of September 30, 2025.
CapEx for Q3 was $3.5 million, with year-to-date CapEx at $13.9 million; full-year CapEx expected at the lower end of $15–$25 million.
Outlook and guidance
Q4 2025 revenue and adjusted EBITDA are expected to decline sequentially due to seasonality, budget exhaustion, holidays, weather, and continued low pricing.
Full-year 2025 capital expenditures are expected at the lower end of the $15–$25 million guidance range.
Borrowing base under the ABL Credit Facility is expected to decrease by $2.2 million monthly through January 2026, impacting liquidity.
Too early to provide specifics on 2026 activity as operators are still evaluating CapEx plans amid oil price volatility.
Domestic completion tool market share recovery?
Borrowing base reduction impact on liquidity?
Capital for coiled tubing long lateral tech?
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Next Nine Energy Service earnings date
Q4 20255 Mar, 2026
Next Nine Energy Service earnings date
Q4 20255 Mar, 2026
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Frequently asked questions
Nine Energy Service Inc. is an oilfield services company providing completion and production solutions to the oil and gas industry. The company specializes in offering services such as cementing, wireline, and completion tools, supporting efficient wellbore construction and production enhancement. Serving customers primarily in North America, Nine Energy Service focuses on unconventional resource plays and provides technical expertise for complex well environments. The company is headquartered in Houston, Texas, and its shares are listed on the NYSE.
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