NCS Multistage Holdings, Inc. Announces Fourth Quarter and Full Year 2024 Results

Core Viewpoint - NCS Multistage Holdings, Inc. reported significant growth in revenue and profitability for the year ended December 31, 2024, driven by strong performance in international and Canadian markets, alongside improved operating efficiencies and strategic initiatives to enhance market presence [2][3][5]. Financial Performance - Total revenue for 2024 was $162.6 million, an increase of $20.1 million or 14% compared to 2023 [5][18]. - The company achieved record international revenues of $16.5 million, representing 10% of total revenue, up from 5% in the previous year [5]. - Adjusted EBITDA for 2024 was $22.3 million, an increase of over 85% from 2023, with an adjusted EBITDA margin of 14% [6][20]. - Net income attributable to NCS shareholders was $6.6 million, or $2.55 per diluted share, compared to a net loss of $(3.2) million in 2023 [6][20]. Fourth Quarter Results - For Q4 2024, total revenues were $45.0 million, a 28% increase compared to Q4 2023, primarily driven by international and Canadian product sales [11][12]. - Gross profit for Q4 was $18.7 million, with a gross margin of 42%, up from 35% in Q4 2023 [13]. - Adjusted EBITDA for Q4 was $8.2 million, compared to $2.5 million in Q4 2023, resulting in an adjusted EBITDA margin of 18% [17]. Cash Flow and Liquidity - Free cash flow after distributions to non-controlling interest reached $9.9 million in 2024, an increase of $7.3 million compared to 2023 [7][21]. - As of December 31, 2024, the company had $25.9 million in cash and $8.1 million in total debt, enhancing its financial flexibility [22]. Market Outlook - Looking ahead to 2025, the company anticipates stable or slightly increased activity levels in Canada, while the U.S. market may see a modest decline [8]. - NCS expects to outperform underlying industry growth in Canada, the U.S., and international markets in 2025 when measured in local currencies [9].