NCS Multistage Q2 revenue up 17% to $29.7M; net loss narrows to $3.1M

NCS Multistage Holdings, Inc.

2024-Q2 EPS reported -$0.41 revenue$73,548,000

Revenue $29.7M (+17% YoY); net loss $(3.1)M vs $(32.2)M loss in Q2 2023 (included $24.9M litigation provision).
Adjusted EBITDA $0.9M, improvement of $3.2M YoY; adjusted EBITDA margin 3% vs (9)%.
Gross margin 38% (up from 31%); adjusted gross margin 40% (up from 33%).
Cash $18.6M; total debt $8.9M (finance leases); free cash flow less distributions $3.2M in H1 2024 vs -$2.0M.
Q3 revenue expected to improve YoY and sequentially; U.S. activity seen down 5-10% in 2024; international up ~5%.

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