---
schema_version: "secwatch.filing_event.v1"
accession: "0000318833-23-000049"
form_type: "8-K"
ticker: "TISI"
cik: "0000318833"
company_name: "TEAM INC"
filed_at: "2023-11-09T23:59:59+00:00"
generated_at: "2026-06-08T07:57:23.896210+00:00"
event_type: "earnings"
sentiment: "positive"
materiality_score: 0.65
calibrated_materiality_score: 0.65
confidence: "high"
source: SEC EDGAR
---

# Team, Inc. Q3 2023 revenue $206.7M, net loss narrows 54% YoY to $12.1M

## Summary
- Revenue $206.7M; gross margin 25.5% ($52.8M).
- Net loss from continuing ops $12.1M vs $26.6M YoY, a 54.4% improvement.
- Consolidated Adjusted EBITDA $11.1M (5.4% of revenue), up from $10.6M.
- SG&A reduced 7.6% ($3.7M) vs prior-year period.
- Repaid remaining $41.2M of convertible notes with June 2023 refinancing proceeds.

## SEC filing metadata
- accession: 0000318833-23-000049
- form_type: 8-K
- ticker: TISI
- cik: 0000318833
- company_name: TEAM INC
- filed_at: 2023-11-09T23:59:59+00:00
- event_type: earnings
- sentiment: positive
- materiality_score: 0.65
- calibrated_materiality_score: 0.65
- confidence: high
- sec_items: 2.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/318833/000031883323000049/0000318833-23-000049-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/318833/000031883323000049/tisi-20231109.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0000318833-23-000049
- JSON: https://secwatch.observer/filing/0000318833-23-000049.json
- Plain text: https://secwatch.observer/filing/0000318833-23-000049.txt

## Key facts
- Earnings Releases
  TEAM INC reported the third quarter ended September 30, 2023 results: revenue $206.7 million, net income $12.1 million.
  - Period: the third quarter ended September 30, 2023
  - Revenue: $206.7 million
  - Net income: $12.1 million
  - Result: reported results
  source text: Team, Inc. (NYSE: TISI) (“TEAM” or the “Company”), a global, leading provider of specialty industrial services offering clients access to a full suite of conventional, specialized, and proprietary mechanical, heat-treating, and inspection services, today reported its financial results for the third quarter ended September 30, 2023. Third Quarter 2023 Highlights 1 : • Reported total revenues of $206.7 million. • Grew gross margin to 25.5% of revenue or $52.8 million. • Decreased net loss from continuing operations to $12.1 million, a 54.4% improvement over the 2022 third quarter net loss from continuing operations of $26.6 million.
  evidence_url: https://www.sec.gov/Archives/edgar/data/318833/000031883323000049/0000318833-23-000049-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.