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Team (TISI) investor relations material
Team Q2 2025 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.
Executive summary
Revenue increased 8.5% year-over-year to $248.0 million in Q2 2025, driven by strong IHT segment growth and higher turnaround and callout activity in the U.S. and Canada.
Adjusted EBITDA rose 12.4% to $24.5 million, outpacing revenue growth and reflecting cost and margin improvement initiatives.
Net loss for Q2 2025 was $4.3 million ($0.95 per share), compared to $2.8 million ($0.63 per share) in Q2 2024, impacted by higher non-core expenses and foreign currency losses.
Transformation and cost optimization initiatives are expected to yield $10 million in annualized savings, with $6 million anticipated in 2025.
Leadership changes include the appointment of Dan Dolson as EVP, Chief Strategy and Transformation Officer to accelerate transformation.
Financial highlights
Q2 2025 revenue: $248.0 million, up $19.4 million (8.5%) year-over-year, with gross margin at $68.1 million (27.5% of revenue).
Adjusted EBITDA: $24.5 million (9.9% of revenue), up from $21.8 million (9.5%) in Q2 2024.
Adjusted net loss improved to $0.9 million from $2.0 million in Q2 2024.
Adjusted SG&A expense reduced to 18.9% of revenue, down 90 basis points year-over-year.
Free cash flow for Q2 2025 was negative $6.3 million, reflecting higher working capital usage.
Outlook and guidance
Targeting at least 15% year-over-year growth in adjusted EBITDA for full year 2025, with a minimum 10% margin.
Anticipates continued top-line growth and improved performance from Canadian and international operations.
Management expects sufficient liquidity and working capital to fund operations and service debt for the next twelve months.
Anticipate full impact of cost actions and transformation initiatives in 2026.
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