Flotek Q4 revenue $48.2M (+297% YoY); net loss $19.0M; Adj. EBITDA loss narrows to $5.1M

FLOTEK INDUSTRIES INC/CN/

Full year 2022 revenue $136.1M (+215% YoY); net loss $42.3M vs $30.5M in 2021.
Adjusted EBITDA loss improved to $5.1M in Q4 from $8.4M in Q3; sixth consecutive quarterly improvement in margin.
Cash $12.3M at Dec 31, 2022; $4.4M PPP loan forgiven Jan 2023; pursuing asset-based loan options.
Leadership changes: Harsha Agadi interim CEO, David Nierenberg Chair, Ryan Ezell President, Bond Clement CFO.
ProFrac fleet average grew to 21 from 16; US frac fleet market share ~11% at Q4 end.

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 full-year ended December 31, 2022 results: revenue $136.1 million, net income net loss of $42.3 million.

Period: the full-year ended December 31, 2022
Revenue: $136.1 million
Net income: net loss of $42.3 million
Result: reported results

Exact text from the filing

Full year 2022 total revenue of $136.1 million increased 215% compared to total revenue of $43.3 million in 2021.

View on SEC.gov

Earnings Releases SEC 8-K Item 2.02 confidence 0.9

FLOTEK INDUSTRIES INC/CN/ reported the fourth quarter ended December 31, 2022 results: revenue $48.2 million, net income net loss of $19.0 million, EPS a loss of $0.25 per basic and diluted share.

Period: the fourth quarter ended December 31, 2022
Revenue: $48.2 million
Net income: net loss of $19.0 million
EPS: a loss of $0.25 per basic and diluted share
Result: reported results

Exact text from the filing

Flotek generated fourth quarter 2022 total revenue of $48.2 million, up 5.7% from $45.6 million in the third quarter of 2022 and up 297% compared to the fourth quarter of 2021.

View on SEC.gov

13 earnings releases filed in the last 30 days. Browse all earnings releases →

FLOTEK INDUSTRIES INC/CN/ filing history →

Source: SEC EDGAR

accession 0000928054-23-000041

view filing index on sec.gov

view primary document

Machine-readable: JSON · Markdown · Plain text

This headline and bullets were generated automatically by deepseek-v4-flash:cloud@v2 from the public filing. Read the source on SEC.gov before relying on any specific claim. Not investment advice. See methodology for how this pipeline works.