{"schema_version":"secwatch.filing_event.v1","accession":"0000318833-23-000016","form_type":"8-K","ticker":"TISI","cik":"0000318833","company_name":"TEAM INC","filed_at":"2023-05-11T23:59:59+00:00","discovered_at":"2026-05-14T18:03:41.780191+00:00","generated_at":"2026-06-15T05:04:53.863591+00:00","sec_items":["2.02","9.01"],"event_type":"earnings","sentiment":"positive","materiality_score":0.7,"calibrated_materiality_score":0.7,"confidence":"high","headline":"Team Inc. Q1 2023 revenue $202.3M (+7% YoY); net loss narrows to $24.7M","bullets":["Revenue $202.3M, up 7% YoY ($13.2M increase); up nearly 9% excluding FX headwinds.","Gross margin improved 150 bps to 23.2% from 21.7% in Q1 2022.","Net loss improved to $24.7M from $38.3M in Q1 2022, a $13.6M improvement.","Adjusted EBITDA turned positive at $4.2M, up $10.6M from negative prior year.","Reduced ongoing cash SG&A by $5.1M, approximately $20M on an annualized basis."],"urls":{"canonical":"https://secwatch.observer/filing/0000318833-23-000016","json":"https://secwatch.observer/filing/0000318833-23-000016.json","markdown":"https://secwatch.observer/filing/0000318833-23-000016.md","text":"https://secwatch.observer/filing/0000318833-23-000016.txt","edgar_index":"https://www.sec.gov/Archives/edgar/data/318833/000031883323000016/0000318833-23-000016-index.htm","edgar_primary_document":"https://www.sec.gov/Archives/edgar/data/318833/000031883323000016/tisi-20230511.htm"},"model":{"generated_by":"deepseek-v4-flash:cloud@v2","generated_at":"2026-06-15T05:04:53.863591+00:00"},"review":{"review_status":"machine_generated","human_reviewed":false,"corrected":false,"correction_note":null,"correction_timestamp":null,"superseded_by":null,"related_filings":[]},"source_grounded_claims":[{"claim_id":"e9178d778f621e5a07bb6baa5e0eb2cf02941c1d","claim":"TEAM INC reported first quarter ended March 31, 2023 results: revenue $202.3 million, net income net loss of $24.7 million.","evidence_excerpt":"First Quarter 2023 Highlights 1 : • Increased first quarter 2023 revenues to $202.3 million, up $13.2 million or 7% over the 2022 first quarter, and up nearly 9% after adjusting for unfavorable foreign currency exchange movement. • Improved first quarter 2023 gross margin by 14% to 23.2% of revenue, up 150 basis points from the first quarter of 2022. • Reported first quarter 2023 net loss of $24.7 million, an improvement of $13.6 million over the $38.3 million net loss in the first quarter of 2022. • Grew consolidated Adjusted EBITDA to $4.2 million, up $10.6 million from the first quarter of 2022 2 . • Reduced ongoing cash selling, general and administrative expense by $5.1 million over the 2022 period, or roughly $20 million on an annualized basis.","evidence_source":"SEC 8-K Item 2.02","evidence_url":"https://www.sec.gov/Archives/edgar/data/318833/000031883323000016/0000318833-23-000016-index.htm","confidence":0.95,"family_label":"Earnings Releases","details":[{"label":"Period","value":"first quarter ended March 31, 2023"},{"label":"Revenue","value":"$202.3 million"},{"label":"Net income","value":"net loss of $24.7 million"},{"label":"Result","value":"reported results"}],"fact_type":"earnings_release"}],"license":"Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer"}