secwatch.observer — SEC 8-K summary
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Issuer:     FLOTEK INDUSTRIES INC/CN/ (FTK)
CIK:        0000928054
Form:       8-K
Filed at:   2024-05-07T23:59:59+00:00
Accession:  0000928054-24-000048
Event type: earnings
Sentiment:  positive
Materiality: 0.75
Item codes: 2.02, 7.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Flotek Q1 net income $1.6M, adjusted EBITDA $4M vs -$3.9M YoY; FY24 EBITDA guidance $10-16M
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- Revenue $40.4M (-16% YoY); gross profit $8.8M (+369% YoY); gross margin 22%.
- Adjusted EBITDA $4.0M vs -$3.9M in Q1 2023; 3rd consecutive quarter of net income.
- Diluted EPS $0.05 vs -$0.12; prior year net income benefited from $30.6M non-cash gains.
- FY24 adjusted gross profit margin guided 18%-22% (vs 15% in 2023); adjusted EBITDA $10M-$16M (vs $1.5M).
- ProFrac related revenue up 19% sequentially; data analytics segment revenue up 18% QoQ.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/928054/000092805424000048/0000928054-24-000048-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/928054/000092805424000048/usgaap-20240507.htm
  HTML page:      https://secwatch.observer/filing/0000928054-24-000048

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer