secwatch.observer — SEC 8-K summary
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Issuer:     TEAM INC (TISI)
CIK:        0000318833
Form:       8-K
Filed at:   2023-08-10T23:59:59+00:00
Accession:  0000318833-23-000029
Event type: earnings
Sentiment:  positive
Materiality: 0.75
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/318833/000031883323000029/0000318833-23-000029-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/318833/000031883323000029/tisi-20230810.htm
  HTML page:      https://secwatch.observer/filing/0000318833-23-000029

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