secwatch.observer — SEC 8-K summary
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Issuer:     FLOTEK INDUSTRIES INC/CN/ (FTK)
CIK:        0000928054
Form:       8-K
Filed at:   2024-11-04T23:59:59+00:00
Accession:  0000928054-24-000109
Event type: earnings
Sentiment:  positive
Materiality: 0.70
Item codes: 2.02, 7.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Flotek Q3 net income doubles to $2.5M, raises 2024 adjusted EBITDA guidance to $16.5-18.5M
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- Q3 revenue $49.7M (+5% YoY); net income $2.5M ($0.08 EPS) vs $1.3M ($0.04 EPS) YoY.
- Adjusted EBITDA $4.8M, up 43% YoY; eighth consecutive quarterly improvement.
- 2024 adjusted EBITDA guidance raised to $16.5-18.5M (midpoint up 9% from prior).
- Data Analytics revenue up 58% YoY; flare monitoring contributed 25% of segment revenue.
- SG&A reduced 12% YoY; borrowings cut 81% ($6.1M) from year-end 2023.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/928054/000092805424000109/0000928054-24-000109-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/928054/000092805424000109/usgaap-20241104.htm
  HTML page:      https://secwatch.observer/filing/0000928054-24-000109

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