)
Edge28 Nov 2025
Keeping the Streak Alive: The Story of Duolingo
How Duolingo made language learning addictive, scaled to millions of users, and built a powerful subscription business around everyday practice.
Step Energy Services (STEP) investor relations material
Step Energy Services Q3 2025 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Q3 2025 earnings summary5 Nov, 2025
Executive summary
Q3 2025 revenue was $227.2M, down 11% year-over-year, but stable sequentially; net income reached $6.8M versus a $5.5M loss in Q3 2024.
Adjusted EBITDA for Q3 2025 was $45.2M (20% margin), down from $49.4M (19%) in Q3 2024, but up from $34.8M (15%) in Q2 2025.
Free Cash Flow was $23.3M, lower than Q3 2024 but higher than Q2 2025; working capital increased to $77.9M.
Net Debt decreased to $36.3M, the lowest since Q1 2018, reflecting ongoing deleveraging.
A definitive agreement was reached for ARC Financial to acquire all outstanding shares at $5.50/share; delisting from TSX expected post-closing.
Financial highlights
Q3 2025 revenue: $227.2M (Q3 2024: $256.0M); nine months: $763.0M (2024: $807.5M).
Net income Q3 2025: $6.8M ($0.09/share) vs. Q3 2024 loss of $5.5M ($0.08/share loss).
Adjusted EBITDA Q3 2025: $45.2M (20% margin); Free Cash Flow: $23.3M.
Operating expenses and employee costs declined due to U.S. fracturing exit; material costs rose year-to-date.
Cash and equivalents at quarter-end: $2.5M; total assets: $600M.
Outlook and guidance
Q4 2025 expected to start strong, with high utilization in early quarter, then seasonal slowdown.
Q1 2026 fracturing and coiled tubing schedules nearly fully booked; margin compression expected due to pricing pressure.
Long-term outlook constructive, with LNG export growth and stable natural gas demand anticipated.
Impact of ARC acquisition on STEP's public status
US fracturing termination: asset plan and costs
Q1 2026 service pricing and margin outlook
Partial view of Summaries dataset, powered by Quartr API
Research faster. Power your platform.
Next Step Energy Services earnings date
Q4 202511 Mar, 2026
Next Step Energy Services earnings date
Q4 202511 Mar, 2026
The essential earnings season companion
The #1 app for qualitative research. Live earnings calls, AI chat, transcripts, and more. All for free.
Live calls and transcripts
Listen to earnings calls, CMDs, investor conferences, and more – with a podcast-like experience.
Find what you need faster
Search for any keyword across all transcripts simultaneously.
Easily store key findings
Capturing important takeaways is as simple as it gets. Even during your lunch run or commute.
Your watchlist. Your dashboard.
Follow the companies that matter to you. Get a personalized feed with real-time updates.
Be the first to know
Set keyword alerts for any company, product, or competitor. Get notified the moment they're mentioned.
Consensus estimates
Access analyst consensus estimates, valuation multiples, and revenue segments splits.
All IR material in one place
The easiest way to stay updated during earnings season.
Global coverage
All events from public companies. Live and recorded.
Just click and listen
No webcast links. No manual registrations.
excellent app, it gives me free access to company earnings calls and annual reports. I also love the convenience of calls being available offline so I can listen in whilst doing other things and even when internet or WiFi isn't available.
)
Leroy DaleyApp Store
One of the very few apps you could call perfect. If something was to add to it, maybe the share price of the company when you search for it, but it's already excellent.
)
Eferix Drawings Google Play
This is genuinely one of the cleanest and fastest finance apps out there to track the market.
anuj283App Store
excellent app, it gives me free access to company earnings calls and annual reports. I also love the convenience of calls being available offline so I can listen in whilst doing other things and even when internet or WiFi isn't available.
Leroy DaleyApp Store
One of the very few apps you could call perfect. If something was to add to it, maybe the share price of the company when you search for it, but it's already excellent.
Eferix Drawings Google Play
This is genuinely one of the cleanest and fastest finance apps out there to track the market.
anuj283App Store
I can't remember the last time an app had such a positive impact on my investment process.
)
@ankurshah47_ x.com
Love the app! Quartr makes it really easy to keep track of earnings calls. It also includes the reports and slides to make it easier to follow along.
Amina0781App Store
Quartr is amazing, no way around it. It is the best right now for earnings calls, presentations, and the like.
@theshortbearx.com
I can't remember the last time an app had such a positive impact on my investment process.
@ankurshah47_ x.com
Love the app! Quartr makes it really easy to keep track of earnings calls. It also includes the reports and slides to make it easier to follow along.
Amina0781App Store
Quartr is amazing, no way around it. It is the best right now for earnings calls, presentations, and the like.
@theshortbearx.com
)
)
Frequently asked questions
Step Energy Services Ltd. is a Canadian oilfield service company that provides specialized coiled tubing, hydraulic fracturing, and other well intervention services. The company supports oil and natural gas producers with solutions aimed at improving well performance and enhancing recovery in both conventional and unconventional resource plays. Step Energy Services operates primarily in Canada and the United States, offering services that include pressure pumping, fluid and nitrogen pumping, and data analysis to optimize well completions and interventions. The company is headquartered in Calgary, Canada, and its shares are listed on the TSX.
Quartr provides global coverage of all investor relation material from public companies.
Mobile app: Research anytime, anywhere with the #1 app for live earnings calls, transcripts, analyst estimates, and more. All for free.
Desktop (Quartr Pro): The leading platform for qualitative research, used daily by top firms and financial institutions.
Quartr API: Build custom solutions powered by live earnings calls, live transcripts, filings and reports, slide presentations, and more.
Yes, the Quartr mobile app is free on both iOS and Android.
Yes. Quartr provides global, industry-leading live coverage of company events such as regular earnings calls, capital markets days, M&A announcements, and investor conferences. Live with zero delays. Just click and listen.
Yes, capturing important takeaways is as simple as it gets. Even during your lunch run or commute.
Yes. Follow the companies that matter to you. Get a personalized feed with real-time updates, a tailored earnings calendar, and instant alerts when earnings calls go live.
Yes. Set keyword alerts for any company, product, or competitor. Get notified the moment they're mentioned, regardless of who's talking.
Explore our global coverage