---
schema_version: "secwatch.filing_event.v1"
accession: "0000318833-24-000034"
form_type: "8-K"
ticker: "TISI"
cik: "0000318833"
company_name: "TEAM INC"
filed_at: "2024-05-14T23:59:59+00:00"
generated_at: "2026-06-02T01:25:41.591978+00:00"
event_type: "earnings"
sentiment: "positive"
materiality_score: 0.7
calibrated_materiality_score: 0.7
confidence: "high"
source: SEC EDGAR
---

# Team Inc. Q1 2024: Revenue $199.6M, net loss narrows to $17.2M, Adj. EBITDA rises 55%

## Summary
- Revenue $199.6M; net loss of $17.2M improved $7.5M YoY from $24.7M loss.
- Adjusted EBITDA grew 54.7% to $6.5M (3.3% of revenue) vs $4.2M (2.1%) in Q1 2023.
- Gross margin up 120 bps to 24.4%; adjusted SG&A reduced $0.8M YoY.
- Cash from operations turned positive at $1.9M, an improvement of $19.6M vs prior year.
- Full year 2024 Adj. EBITDA guidance set at $58M to $68M; commercial review completed.

## SEC filing metadata
- accession: 0000318833-24-000034
- form_type: 8-K
- ticker: TISI
- cik: 0000318833
- company_name: TEAM INC
- filed_at: 2024-05-14T23:59:59+00:00
- event_type: earnings
- sentiment: positive
- materiality_score: 0.7
- calibrated_materiality_score: 0.7
- confidence: high
- sec_items: 2.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/318833/000031883324000034/0000318833-24-000034-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/318833/000031883324000034/tisi-20240514.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0000318833-24-000034
- JSON: https://secwatch.observer/filing/0000318833-24-000034.json
- Plain text: https://secwatch.observer/filing/0000318833-24-000034.txt

## Key facts
- Earnings Releases
  TEAM INC reported the first quarter ended March 31, 2024 results: revenue $199.6 million, net income net loss of $17.2 million. Guidance reaffirmed.
  - Period: the first quarter ended March 31, 2024
  - Revenue: $199.6 million
  - Net income: net loss of $17.2 million
  - Guidance: reaffirmed
  - Result: reported results
  source text: inspection services, today reported its financial results for the first quarter ended March 31, 2024. First Quarter 2024 Highlights: • Announced first quarter 2024 revenues of $199.6 million. • Improved gross margin by 120 basis points to 24.4% as compared to 23.2% in the 2023 first quarter. • Reported first quarter 2024 net loss of $17.2 million, a $7.5 million
  evidence_url: https://www.sec.gov/Archives/edgar/data/318833/000031883324000034/0000318833-24-000034-index.htm

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