Nine Energy Service, Inc.

Annual Trend FY 2017 FY 2018 FY 2019 FY 2020 FY 2021 FY 2022 FY 2023 FY 2024 FY 2025
Depreciation $53.4m $54.3m $50.5m $32.4m $28.9m $26.8m $29.1m $25.6m $23.2m
Amortization of intangibles $8.8m $9.6m $18.4m $16.5m $16.1m $13.5m $11.5m $11.2m $11.2m
Amortization of operating leases $8.9m $8.0m $8.7m $12.5m $13.3m $15.2m
Amortization of deferred financing costs and non-cash interest $7.6m $14.4m
Loss (gain) on sale of property and equipment $4.7m ($1.7m) ($538k) ($2.9m) $660k $367k $292k $256k ($2.1m)
Operating lease obligations ($8.7m) ($12.3m) ($13.1m) ($15.1m)
Proceeds from property and equipment casualty losses $300k $1.7m $1.6m $1.2m $0 $175k $840k $0 $2.2m
Net loss ($67.7m) ($53.0m) ($217.8m) ($378.9m) ($64.6m) $14.4m ($32.2m) ($41.1m) ($51.3m)
Provision for doubtful accounts $176k ($268k) $849k $2.8m ($229k) ($166k) $333k $526k $15k
Provision for inventory obsolescence $1.4m $844k $5.1m $9.0m $4.8m $3.0m $2.3m $1.7m $1.6m
Stock-based compensation expense $7.6m $13.2m $14.1m $9.7m $5.4m $2.4m $2.2m $2.9m $2.2m
Loss on revaluation of contingent liability $415k $3.3m ($21.2m) $276k $460k $454k $437k $104k $217k
Accounts receivable, net ($52.2m) ($25.0m) $41.9m $52.9m ($22.5m) ($41.1m) $16.5m $6.7m $5.2m
Inventories, net ($8.2m) ($15.0m) $22.5m $13.6m ($8.6m) ($23.0m) $5.2m $1.7m ($7.1m)
Prepaid expenses and other current assets $1.5m ($5.7m) $2.4m $1.4m $3.4m ($818k) $1.1m ($995k) ($5.4m)
Accounts payable and accrued expenses $12.5m $27.2m ($27.9m) ($25.5m) $12.4m $19.5m $1.1m ($2.1m) $2.7m
Income taxes receivable/payable $15.2m ($255k) ($294k) ($732k) $0 $655k $252k $212k $636k
Other assets and liabilities ($3.3m) $295k ($2.6m) ($4.5m) ($9.6m) ($8.6m) ($245k) ($1.4m) ($2.7m)
Proceeds from sales of property and equipment $1.5m $2.2m $3.7m $6.4m $3.5m $3.0m $606k $585k $189k
Purchases of property and equipment ($45.2m) ($46.6m) ($65.0m) ($9.4m) ($15.4m) ($28.6m) ($24.6m) ($14.8m) ($15.9m)
Proceeds from revolving credit facilities $56.5m $35.0m $10.0m $0 $15.0m $24.0m $40.0m $3.0m $65.9m
Payments on revolving credit facilities ($38.3m) ($96.2m) ($45.0m) $0 $0 ($7.0m) ($15.0m) ($13.0m) ($51.0m)
Principle payments on finance leases ($903k) ($995k) ($1.1m) ($1.3m) ($217k) ($49k) ($33k)
Payments of contingent liability ($1.3m) ($3.4m) ($374k) ($1.4m) ($154k) ($195k) ($387k) ($604k) ($223k)
Impact of foreign currency exchange on cash ($110k) ($401k) $95k ($61k) ($66k) ($168k) ($64k) ($294k) $0
Capital expenditures in accounts payable and accrued expenses $1.7m $4.5m $10k $747k $63k $3.4m $1.1m $889k $2.7m
Net cash used in operating activities $5.7m $89.6m $101.3m ($4.9m) ($40.4m) $16.7m $45.5m $13.2m ($7.3m)
Net cash used in investing activities ($44.5m) ($389.8m) ($34.1m) ($1.8m) ($11.9m) ($25.4m) ($23.2m) ($14.2m) ($13.6m)
Cost of debt issuance ($716k) ($16.3m) $0 $0 ($6.3m) $0 ($4.6m)
Proceeds from short-term debt $0 $1.5m $4.1m $4.7m $5.8m $9.6m
Payments of short-term debt $0 ($545k) ($2.8m) ($4.1m) ($5.0m) ($6.8m)
Proceeds from issuance of common stock under ATM program $0 $8.2m $0
Net cash provided by (used in) financing activities $52.3m $346.7m ($37.9m) ($17.4m) $5.0m $4.8m ($8.9m) ($1.7m) $12.9m
Net decrease in cash, cash equivalents, and restricted cash $13.4m $46.1m $29.4m ($24.1m) ($47.4m) ($4.1m) $13.4m ($3.0m) ($8.0m)
Cash, cash equivalents, and restricted cash at beginning of period $17.5m $63.6m $93.0m $68.9m $21.5m $17.4m $30.8m $27.9m $19.8m
Cash paid for interest $15.0m $6.0m $37.4m $34.4m $30.1m $29.7m $31.4m $43.9m $43.2m
Cash paid (refunded) for income taxes ($14.3m) $1.7m $517k ($540k) $24k $116k $563k $525k ($849k)