Flotek Q3 revenue $45.6M (+55% seq); net loss $18.8M; Adjusted EBITDA loss $8.4M

FLOTEK INDUSTRIES INC/CN/

2022-Q3 EPS reported -$0.31 revenue$87,874,000

Total revenue $45.6M, up 55% sequentially and 348% YoY; exceeded full-year 2021 revenue.
Net loss $18.8M ($0.25 per share) vs Q2 net income $6.2M; includes $4.25M non-cash loss on convertible notes.
Adjusted EBITDA loss $8.4M includes $1.9M bonus accrual; negative 18% of revenue (improved from -25% in Q2).
Cash & equivalents $8.6M at quarter-end (down from $33.1M in Q2); improved to $11.1M as of Nov 8.
Announced agreement with ProFrac to supply 20 JP3 Verax analyzers; six placed in service in Q4.

item 2.02 item 7.01 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.9

FLOTEK INDUSTRIES INC/CN/ reported the three months ended September 30, 2022 results: revenue $45.6 million, net income negative $18.8 million, or a loss of $0.25 per basic and diluted share.

Period: the three months ended September 30, 2022
Revenue: $45.6 million
Net income: negative $18.8 million, or a loss of $0.25 per basic and diluted share
Result: reported results

Exact text from the filing

trucks and the wear and tear caused by truck rolls. Key Third Quarter 2022 Financial Results  Total revenues: Flotek generated third quarter 2022 consolidated revenue of $45.6 million, up 55% from $29.4 million in the second quarter of 2022 and up 348% compared to the third quarter of 2021. Higher revenue was driven by continued increases in activity across

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FLOTEK INDUSTRIES INC/CN/ filing history →

Source: SEC EDGAR

accession 0000928054-22-000208

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