NCS Multistage Q2 revenue up 23% to $36.5M, net income $0.9M, acquires Reservoir Metrics

NCS Multistage Holdings, Inc.

2025-Q2 EPS reported $1.84 revenue$86,459,000

Revenue of $36.5M (+23% YoY); net income $0.9M vs loss $3.1M; diluted EPS $0.34 vs ($1.21).
Adjusted EBITDA $2.2M (+$1.3M YoY); adjusted gross margin 36% vs 40%. Cash $25.4M, debt $7.7M (capital leases).
Acquired Reservoir Metrics (ResMetrics) for all cash; trailing 12-month revenue >$10M, EBITDA margin >30%.
Revenue growth driven by fracturing systems and frac plug sales in Canada and US despite industry headwinds.
Management guided cautious optimism for H2 2025 citing declining rig counts and tariff uncertainties.

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