NCS Multistage(NCSM)

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NCS Multistage(NCSM) - 2024 Q4 - Earnings Call Presentation
2025-03-11 13:40
Investor Update March 2025 Disclaimer Forward-Looking Statements The information in this presentation includes "forward-looking statements" that are subject to risks and uncertainties. All statements, other than statements of historical fact included in this presentation, regarding NCS Multistage Holdings, Inc.'s (the "Company," "NCS", "NCSM", "we" or "us") strategy, financial guidance, future operations, financial position, estimated revenues and losses, projected costs, prospects, plans and objectives of ...
NCS Multistage(NCSM) - 2024 Q4 - Annual Report
2025-03-10 20:52
Revenue and Market Performance - Approximately 63% of revenues in 2024 and 69% in 2023 were derived from operations in Canada, indicating a significant reliance on the Canadian market[291] - Total revenues for 2024 increased to $162,557,000, up 14.1% from $142,471,000 in 2023[308] - Product sales in the United States increased to $34,082,000 in 2024 from $26,613,000 in 2023, representing a growth of 28.0%[374] - Total revenues from Canada rose to $102,435,000 in 2024, up from $98,107,000 in 2023, marking a 4.0% increase[374] Financial Performance - Net income attributable to NCS Multistage Holdings, Inc. for 2024 was $6,593,000, compared to a net loss of $3,153,000 in 2023[308] - Basic earnings per share for 2024 was $2.60, a significant improvement from a loss of $1.27 per share in 2023[308] - Comprehensive income attributable to NCS Multistage Holdings, Inc. for 2024 was $4,741,000, compared to a loss of $3,288,000 in 2023[311] - Net income for 2024 was $8,138,000, a significant improvement from a net loss of $3,111,000 in 2023[316] Assets and Liabilities - Total current assets rose to $105,570,000 in 2024, compared to $103,217,000 in 2023, reflecting a 2.3% increase[306] - Total liabilities decreased to $36,703,000 in 2024, down from $42,639,000 in 2023, representing a reduction of 13.9%[306] - Total stockholders' equity increased to $116,109,000 in 2024, up from $109,393,000 in 2023, marking a growth of 6.5%[306] - The net property and equipment value decreased to $21,283,000 in 2024 from $23,336,000 in 2023, a decline of 8.8%[389] Cash Flow and Operating Activities - Net cash provided by operating activities increased to $12,725,000 in 2024, compared to $4,774,000 in 2023, reflecting a 167% increase[316] - Cash and cash equivalents increased to $25,880,000 in 2024 from $16,720,000 in 2023, a growth of 54.8%[306] - Total cash used in financing activities was $4,269,000 in 2024, up from $2,441,000 in 2023, reflecting increased financial obligations[316] Expenses and Costs - The company reported a total cost of sales of $95,096,000 in 2024, up from $86,868,000 in 2023, reflecting an increase of 9.5%[308] - The company reported a total of $57,820,000 in SG&A expenses for 2024, compared to $56,518,000 in 2023, reflecting a 2.3% increase[374] - Depreciation and amortization expenses increased to $5,316,000 in 2024 from $4,616,000 in 2023, a rise of 15%[316] Risks and Challenges - The company is exposed to credit risk due to the concentration of customers in the E&P industry, which may be similarly affected by economic and regulatory changes[294] - The company anticipates challenges in successfully implementing its strategy to increase sales in U.S. and international markets[12] - The company faces risks related to the inability to develop and implement new technologies that align with customer needs, particularly in non-traditional energy markets[14] - The company has identified potential risks from significant competition leading to pricing pressures and reduced market share[12] Debt and Financing - The company had no outstanding indebtedness under the ABL Facility or the Repeat Precision Promissory Note as of December 31, 2024[293] - Long-term debt as of December 31, 2024 was $6,001,000, slightly decreased from $6,344,000 in 2023, with total debt at $8,142,000[402] - The ABL Facility has an aggregate principal amount of $35 million, with an available borrowing base of $20.1 million as of December 31, 2024[405] Legal and Regulatory Matters - The company was ordered to pay approximately $1.8 million in costs to Kobold Corporation due to a patent infringement ruling, which was paid in November 2023[419] - The company expects to appeal the Canada Court decision regarding the patent infringement, with the appeal anticipated to be heard in early 2025[420] - NCS received jury awards of approximately $0.5 million and $1.9 million in damages against Nine Energy Services and TCO AS, respectively, related to patent infringement claims[422] Shareholder and Equity Information - Total share-based compensation expense for the year ended December 31, 2024, was $5.213 million, a slight decrease from $5.365 million in 2023[444] - The maximum aggregate number of shares available under the 2017 Equity Incentive Plan is 626,626 shares, with 185,281 shares available for future issuance as of December 31, 2024[431] - As of December 31, 2024, there was $1.1 million of total unrecognized compensation cost related to performance stock units (PSUs), expected to be recognized over a weighted average period of two years[440]
NCS Multistage(NCSM) - 2024 Q4 - Annual Results
2025-03-10 20:19
Exhibit 99.1 NCS Multistage Holdings, Inc. 19350 State Highway 249, Suite 600 Houston, Texas 77070 PRESS RELEASE NCS MULTISTAGE HOLDINGS, INC. ANNOUNCES FOURTH QUARTER AND FULL YEAR 2024 RESULTS Fourth Quarter Results Full Year Results HOUSTON, March 10, 2025 – NCS Multistage Holdings, Inc. (Nasdaq: NCSM) (the "Company," "NCS," "we" or "us"), a leading provider of highly engineered products and support services that facilitate the optimization of oil and natural gas well construction, well completions and f ...
NCS Multistage Holdings, Inc. Announces Fourth Quarter and Full Year 2024 Results
GlobeNewswire News Room· 2025-03-10 20:15
Fourth Quarter Results Total revenues of $45.0 million, a 28% year-over-year improvementNet income of $3.5 million and earnings per diluted share of $1.32, an improvement to the prior year period after adjusting for the non-cash benefit of legal settlement from one year agoAdjusted EBITDA of $8.2 million, compared to $2.5 million in the fourth quarter of 2023 $25.9 million in cash and $8.1 million in debt as of December 31, 2024 Full Year Results Total revenues of $162.6 million, a 14% improvement over 202 ...
NCS Multistage Holdings, Inc. Schedules Fourth Quarter and Full Year 2024 Earnings Release and Conference Call
GlobeNewswire· 2025-03-05 21:15
HOUSTON, March 05, 2025 (GLOBE NEWSWIRE) -- NCS Multistage Holdings, Inc. (“NCS” or the “Company”) (NASDAQ:NCSM) will host a conference call to discuss its fourth quarter and full year 2024 results on Tuesday March 11, 2025 at 7:30 a.m. Central Time (8:30 a.m. Eastern Time). NCS will issue its fourth quarter and full year 2024 earnings release the evening prior to the conference call. The conference call will be available via a live audio webcast. Participants who wish to ask questions may register for the ...
Stonegate Updates Coverage on NCS Multistage Holdings, Inc. (NCSM) 2024 Q3
Newsfile· 2024-11-05 21:24
Core Insights - NCS Multistage Holdings, Inc. (NASDAQ: NCSM) reported total revenues of $44.0 million, reflecting a 15% year-over-year improvement [2] - The company has a liquidity position of $37.0 million, up from $33.0 million in Q2 2024, and has a manageable debt level of $8.6 million [2] - Adjusted EBITDA for NCSM was $7.1 million, showing a $0.3 million year-over-year improvement [2]
NCS Multistage(NCSM) - 2024 Q3 - Earnings Call Transcript
2024-11-01 13:04
Financial Data and Key Metrics Changes - The company's Q3 2024 revenue was $44 million, a 15% increase year-over-year, and at the high end of the guided range [7][28] - Adjusted EBITDA for Q3 2024 was $7.1 million, exceeding the guided range of $5 million to $7 million, and improved by $300,000 compared to Q3 2023 [10][31] - Net income for Q3 2024 was $4.1 million or $1.60 per diluted share, while net income for the first nine months was $3.1 million or $1.21 per diluted share [12] - The adjusted gross margin for Q3 2024 was 42%, an improvement from 41% in the same quarter last year [29] Business Line Data and Key Metrics Changes - International revenue for the first nine months of 2024 was $12 million, exceeding the full year 2023 international revenue, representing 10% of total revenue, up from 5% in the same period last year [20] - U.S. revenues increased due to higher composite plug and perforating gun sales, while Canadian revenues saw a modest increase due to higher fracturing systems activity [28] Market Data and Key Metrics Changes - International revenues increased by 89% year-over-year, while U.S. revenues were up $39 million and Canadian revenues increased by 3% [28] - Sequentially, Q3 revenues increased by 48%, with Canada seeing a 139% increase, reflecting seasonal activity [29] Company Strategy and Development Direction - The company aims to build upon its leading market positions, particularly in fracturing systems and Tracer Diagnostics, to deliver unique value to customers [15][19] - NCS is focused on capitalizing on international and offshore opportunities, with strong results expected from strategic initiatives implemented in previous years [19] - The company is also working on commercializing innovative solutions to complex customer challenges, with several technology developments underway [22][23] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism about the North Sea and international markets, particularly in Argentina and the Middle East, where investment continues to flow into unconventional projects [21][52] - The company expects full-year revenue of $155.5 million to $159.5 million, representing an 11% increase compared to 2023 [35] - Adjusted EBITDA is expected to range from $18 million to $20.5 million, reflecting a significant year-over-year increase [36] Other Important Information - The company reported a strong balance sheet with a cash balance of $15.3 million and total liquidity exceeding $37 million [13][32] - Free cash flow for the first nine months of 2024 was $0.4 million, an improvement of $3.3 million compared to the same period last year [13] Q&A Session Summary Question: Product sales growth in U.S. and Canada - Management indicated that the sales growth is part of normal operations rather than inventory build-up [46] Question: Timing of tracer work in the Middle East - Management clarified that the tracer work is progressing on schedule, with some minor delays but no significant issues [48] Question: Future expense reduction opportunities - Management stated that they have already captured most low-hanging fruit and are focusing on ongoing cost management efforts [49] Question: 2025 market conditions - Management expects U.S. activity levels to remain consistent, with growth anticipated in the Canadian market due to pipeline developments [51] Question: Market penetration excitement - Management highlighted the expansion of well construction portfolios in the Middle East and shallow-water offshore applications as key areas of focus [58] Question: Well complexity and product demand - Management noted that increased well complexity is expected to benefit the company, with opportunities for innovation in response to operator challenges [62]
NCS Multistage(NCSM) - 2024 Q3 - Earnings Call Presentation
2024-10-31 20:04
Investor Update October 2024 Disclaimer 2 Leading Global Fnergy Technology Forward-Looking Statements The information in this presentation includes "forward-looking statements" that are subject to risks and uncertainties. All statements, other than statements of historical fact included in this presentation, regarding NCS Multistage Holdings, Inc.'s (the "Company," "NCS", "NCSM", "we" or "us") strategy, financial guidance, future operations, financial position, estimated revenues and losses, projected costs ...
NCS Multistage(NCSM) - 2024 Q3 - Quarterly Report
2024-10-31 20:04
Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q (Mark One) ☑ Quarterly Report Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 For the quarterly period ended September 30, 2024 OR ☐ Transition Report Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 For the transition period from ______ to ______ Commission file number: 001-38071 NCS Multistage Holdings, Inc. (Exact name of registrant as specified in its charter) ...
NCS Multistage(NCSM) - 2024 Q3 - Quarterly Results
2024-10-30 20:23
Exhibit 99.1 PRESS RELEASE NCS MULTISTAGE HOLDINGS, INC. ANNOUNCES THIRD QUARTER 2024 RESULTS Third Quarter Results NCS Multistage Holdings, Inc. 19350 State Highway 249, Suite 600 Houston, Texas 77070 ● Total revenues of $44.0 million, a 15% year-over-year improvement, driven in part by increased international revenues ● Net income of $4.1 million and diluted earnings per share of $1.60, compared to $4.4 million and diluted earnings per share of $1.77 one year ago ● Adjusted EBITDA of $7.1 million, a $0.3 ...