Team Inc Q2 revenue up 8% to $239.5M, net loss improves $12.4M

TEAM INC

2024-Q2 EPS reported -$9.30 revenue$441,769,000

Revenue $239.5M, up 8% YoY; gross margin 25.4% (+190 bps vs Q2 2022).
Net loss of $15.8M improved $12.4M from prior year; adj EBITDA $17.4M (7.3% of revenue).
Reduced ongoing cash SG&A by $3.2M in Q2, $8.3M year-to-date in 2023.
Repaid remaining $41.2M convertible notes on Aug 1, 2023 using June 2023 refinancing proceeds.

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