secwatch.observer — SEC 8-K summary
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Issuer:     TEAM INC (TISI)
CIK:        0000318833
Form:       8-K
Filed at:   2023-03-14T23:59:59+00:00
Accession:  0000318833-23-000003
Event type: earnings
Sentiment:  positive
Materiality: 0.60
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

TEAM Q4 revenue up 4% to $211M; Adj. EBITDA turns positive to $6.7M
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- Q4 revenue $211.3M (+4.0% YoY); gross margin 24.8% vs 22.1% prior year.
- Q4 net loss from continuing ops $56.9M includes $30.1M loss on debt extinguishment.
- Q4 Adjusted EBITDA improved to $6.7M from negative $1.6M in Q4 2021.
- Full year 2022 revenue $840.2M (+5.8%); net loss $150.1M vs $184.8M loss in 2021.
- Net debt reduced to $227.9M from $350.7M; liquidity $103.5M after Quest sale.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/318833/000031883323000003/0000318833-23-000003-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/318833/000031883323000003/tisi-20230314.htm
  HTML page:      https://secwatch.observer/filing/0000318833-23-000003

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer