NCS Multistage Q2 revenues $25.4M, net loss $32.2M on $24.9M litigation provision; lowers US activity guidance

NCS Multistage Holdings, Inc.

2023-Q2 EPS reported -$19.16 revenue$68,945,000

Total revenues $25.4M (-8% YoY); net loss $(32.2)M ($(13.02)/share) vs $(5.5)M loss a year ago.
Q2 adjusted net loss $(6.2)M ($(2.50)/share); Adjusted EBITDA $(2.2)M vs $(1.9)M in Q2 2022.
Recorded $24.9M incremental provision for Texas litigation; $42.5M judgment; plans to appeal; expects insurance coverage.
Cash $13.7M, debt $8.8M; undrawn ABL $12.6M; free cash flow use $(2.0)M for H1 2023.
Expects US activity down 5-10% vs 2022; Canada up to 5%; sees sequential revenue improvement in Q3.

item 2.02 item 9.01

Key facts

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Earnings Releases SEC 8-K Item 2.02 confidence 0.9

NCS Multistage Holdings, Inc. reported the quarter ended June 30, 2023 results: revenue $25.4 million, net income $(32.2) million, EPS $(13.02).

Period: the quarter ended June 30, 2023
Revenue: $25.4 million
Net income: $(32.2) million
EPS: $(13.02)
Result: reported results

Exact text from the filing

· Total revenues of $25.4 million, a n 8% year-over-year decrease · Net loss of $(32.2) million and loss per share of $(13.02) , compared to a net loss of $(5.5) million and a loss per share of $(2.25) in the same quarter of 2022

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Source: SEC EDGAR

accession 0001692427-23-000030

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