Acquired Basic business reports $138.9M net loss in 2020; revenue down 50% YoY

Ranger Energy Services, Inc.

Revenue for 2020 was $169.4M vs $337.5M in 2019, a 50% drop.
Net loss widened to $138.9M in 2020 from $39.1M in 2019.
2020 results include $67.1M in impairment charges ($59.9M long-lived assets, $7.1M goodwill).
Well service revenue fell 38% YoY to $120.5M; completion & remedial fell 65% to $49.0M.
Combined pro forma data filed to show Ranger's historical results with the acquisition.

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