Nine Energy Q1 2022 revenue $116.9M beat guidance; net loss $(6.9)M

Nine Energy Service, Inc.

2022-Q1 EPS reported -$0.23 revenue$116,935,000

Revenue of $116.9M, above guidance of $108-116M, up ~11% sequentially from Q4 2021.
Net loss $(6.9)M; basic loss per share $(0.23); adjusted basic loss per share $(0.22).
Adjusted EBITDA $12.2M; gross profit $12.7M, up ~169% QoQ; adjusted gross profit $22.6M, up ~52%.
Total liquidity $74.6M (cash $19.9M + $54.7M revolver availability); borrowed additional $7M in April 2022.
Management expects Q2 2022 revenue and adjusted EBITDA to improve sequentially.

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