secwatch.observer — SEC 8-K summary
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Issuer:     FLOTEK INDUSTRIES INC/CN/ (FTK)
CIK:        0000928054
Form:       8-K
Filed at:   2022-11-09T23:59:59+00:00
Accession:  0000928054-22-000208
Event type: earnings
Sentiment:  negative
Materiality: 0.70
Item codes: 2.02, 7.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/928054/000092805422000208/0000928054-22-000208-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/928054/000092805422000208/usgaap-20221108.htm
  HTML page:      https://secwatch.observer/filing/0000928054-22-000208

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