UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 Form 10-K ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2023 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 001-34481 Mistras Group, Inc. (Exact name of registrant as specified in its charter) Delaware 22-3341267 (State or other jurisdiction of inc ...

Exhibit 99.1 MISTRAS Announces Fourth Quarter and Full Year 2023 Results Q4 2023 Revenue of $182.1 million, up 8.2% Q4 2023 Net Loss of $2.5 million reflecting $6.3 million of reorganization and other costs and $1.2 million of foreign currency exchange losses Q4 2023 Adjusted EBITDA (non-GAAP) of $19.2 million compared to $15.7 million in the prior year, up 22.0%; highest Q4 result historically Full Year 2023 Net Cash Provided by Operating Activities of $26.7 million consistent with the prior year, whereas ...

Revenue Performance - Revenue for the three months ended September 30, 2023, was $179.4 million, an increase of $0.9 million, or 0.5%, compared to the same period in 2022[145]. - Revenue for the nine months ended September 30, 2023, was $523.4 million, an increase of $4.2 million, or 0.8%, compared to the same period in 2022[145]. - International segment revenue increased by 20.6% for the three months ended September 30, 2023, driven by organic growth and favorable foreign exchange rates[147]. - Total revenue for the nine months ended September 30, 2023, increased by 0.8% compared to the prior period, driven by organic growth in the core business, despite a negative impact from foreign exchange rates[150]. Customer Revenue Breakdown - Oil and gas customer revenue comprised approximately 58% of total revenue for the three months ended September 30, 2023, up from 54% in the same period of 2022[148]. - Oil and gas customer revenue accounted for approximately 59% of total revenue for the nine months ended September 30, 2023, up from 56% in the same period of 2022[151]. - The Company's top ten customers accounted for approximately 36% of total revenue for the three months ended September 30, 2023, compared to 32% in the same period of 2022[148]. Profitability Metrics - Gross profit for the three months ended September 30, 2023, was $54.4 million, representing 30.3% of revenue, compared to 30.1% in the same period of 2022[144]. - Gross profit for the nine months ended September 30, 2023, increased by $2.9 million, or 2.0%, on a revenue increase of 0.8%[161]. - Gross profit margin improved to 28.7% for the nine months ended September 30, 2023, compared to 28.4% in the same period of 2022[166]. Operating Loss and Expenses - Net loss for the three months ended September 30, 2023, was $10.3 million, compared to a net income of $4.4 million in the same period of 2022[144]. - Total operating expenses increased by $19.6 million for the nine months ended September 30, 2023, primarily due to $13.8 million in impairment charges[169]. - For the three months ended September 30, 2023, income from operations (GAAP) decreased by $13.8 million compared to the same period in 2022, while income before special items (non-GAAP) increased by $1.9 million[173]. - For the nine months ended September 30, 2023, income from operations (GAAP) decreased by $16.6 million compared to the same period in 2022, while income from operations before special items (non-GAAP) increased by $3.2 million[174]. Cash Flow and Liquidity - As of September 30, 2023, the cash balance was approximately $12.8 million, indicating a strong liquidity position[140]. - Cash provided by operating activities for the nine months ended September 30, 2023, was $10.7 million, a year-on-year increase of $0.2 million, or 1%[181]. - Cash used in investing activities for the nine months ended September 30, 2023, was $15.2 million, compared to $8.9 million for the same period in 2022[182]. - As of September 30, 2023, the company had cash and cash equivalents totaling $12.8 million and $114.2 million of unused commitments under its Credit Agreement[185]. Interest and Tax Rates - Interest expense for the three months ended September 30, 2023, was approximately $4.2 million, up from $2.7 million in the same period in 2022, and for the nine months, it increased to $12.1 million from $6.8 million[175]. - The effective income tax rate for the three months ended September 30, 2023, was approximately (16.8)%, compared to 31.1% for the same period in 2022[176]. - The effective income tax rate for the nine months ended September 30, 2023, was approximately (1.6)%, compared to 48.5% for the same period in 2022[178]. Market Segment Performance - North America segment revenue decreased by 2.6% for the three months ended September 30, 2023, primarily due to declines in aerospace and defense and power generation & transmission markets[147]. - Products and Systems segment revenue rose by 14.2% due to increased sales volume in the power generation and transmission end market[150]. - Field Services revenue increased by $3.1 million for the nine months ended September 30, 2023, driven by higher sales volume in the oil and gas end market[156]. - Downstream customer revenue increased by $6.9 million, or 6%, for the nine months ended September 30, 2023, due to increased sales volume at customer refineries[155]. - Midstream customer revenues increased by approximately $1.3 million, or 2%, for the nine months ended September 30, 2023, due to comparable pipe inspection services[154]. - Other revenues decreased by $12.7 million for the nine months ended September 30, 2023, primarily due to declines in the aerospace and defense sector[159]. Acquisitions and Growth - The company experienced overall organic growth during the nine months ended September 30, 2023, offset by increased reorganization costs[174]. - The Company has made numerous acquisitions to expand service lines and technical capabilities, enhancing its competitive advantages[135].

Financial Data and Key Metrics Changes - Non-GAAP income from operations increased by 19% compared to the prior year period [6] - Net loss for Q3 was $10.3 million, or negative $0.34 per diluted share, primarily due to a non-cash impairment charge of $13.8 million [6][28] - Adjusted EBITDA for the quarter was up 12.5% to $20.9 million, meeting expectations [6] - Full-year revenue guidance lowered to between $695 million to $705 million from a previous range of $710 million to $720 million [8] - Adjusted EBITDA guidance reduced to between $65 million and $68 million from a previous range of $68 million to $71 million [8] - Free cash flow guidance lowered to between $7 million to $10 million from a previous range of $23 million to $25 million [8] Business Line Data and Key Metrics Changes - Revenue in the International segment increased by 21% in the quarter, driven by a strong turnaround market and increased aerospace and defense volume [27] - All three sectors (upstream, midstream, and downstream) performed well, with upstream being the least volatile [14] - Gross margin expanded while selling, general and administrative expenses contracted, reflecting the initial impact of Project Phoenix [25][123] Market Data and Key Metrics Changes - The company experienced growth in oil and gas, commercial aerospace, and Data Analytical Solutions [27] - The International segment's positive non-GAAP operating income and EBITDA were noted despite the impairment charge [124] Company Strategy and Development Direction - Project Phoenix aims to eliminate waste and redundancy, improve pricing and cost efficiencies, and is expected to yield approximately $30 million in savings for fiscal 2024 [4][26] - The company plans to reduce overhead to approximately 21% of total revenue by the end of 2024, including a targeted 15% reduction in administrative headcount [102] - Increased investments in key growth initiatives such as Data Analytical Solutions and pipeline inspection offerings are planned for 2024 [31] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism for continued growth in 2024 despite economic headwinds and the impact of the impairment charge [7] - The company anticipates modest single-digit revenue growth in 2024, with significant expansion in adjusted EBITDA [106] - Management emphasized the importance of strategic pricing and proactive customer engagement to ensure fair value [39][76] Other Important Information - Gross debt increased by $10.2 million during the quarter, leading to a revised timeline for achieving a leverage ratio of 3 to 1 [28] - The company incurred a non-cash impairment charge of $13.8 million due to inflationary pressures and rising energy costs [28][124] - The leadership team is undergoing changes to enhance execution of Project Phoenix and improve shareholder value [125] Q&A Session All Questions and Answers Question: What is the outlook for Power Generation & Transmission and Other Process Industries? - The decline in these segments was expected due to the drop-off of long-term recurring contracts and new construction bills [129] Question: Why is Project Phoenix happening now? - The urgency for Project Phoenix is driven by recent changes in the business environment and the need for improved financial performance [132] Question: What are the expected cash costs for implementing Project Phoenix? - The cash investment figure for Project Phoenix implementation will not require additional incremental costs in 2024 as the necessary actions have already been taken [116]

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 June 30, 2023 Or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from __ to __ (Exact name of registrant as specified in its charter) (State or other jurisdiction of incorporation or organization) (I.R.S. Employ ...

Table of Contents For the transition period from __ to __ Commission file number 001-34481 Mistras Group, Inc. 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 March 31, 2023 Or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 (Exact name of registrant as specified in its charter) Delaware 22-3341267 (St ...

Financial Performance - The company generated revenues of $687.4 million, $677.1 million, and $592.6 million for the years ended December 31, 2022, 2021, and 2020, respectively, with a net income of $6.6 million in 2022[22]. - The company’s revenues are diversified, with a consistent increase in revenue from $592.6 million in 2020 to $687.4 million in 2022, reflecting growth in demand for its services[22]. - Revenue for the year ended December 31, 2022, was $687,373,000, representing an increase of 1.8% from $677,131,000 in 2021[303]. - Net income attributable to Mistras Group, Inc. for 2022 was $6,499,000, compared to $3,860,000 in 2021, marking a significant improvement[306]. - Earnings per share (EPS) for 2022 was $0.22 (basic) and $0.21 (diluted), up from $0.13 (both basic and diluted) in 2021[303]. - The company reported a comprehensive loss of $6,580,000 for 2022, primarily due to foreign currency translation adjustments of $(13,084,000)[306]. - Cash flows from operating activities for 2022 were $26,406,000, a decrease from $42,261,000 in 2021[312]. - The company incurred $12,591,000 in capital expenditures for property, plant, and equipment in 2022[312]. - Total cash and cash equivalents at the end of 2022 were $20,488,000, down from $24,110,000 at the end of 2021[312]. - The company had a bad debt provision of $42,000 for troubled customers in 2022, compared to no provision in 2021[303]. - Research and engineering expenses decreased to $1,994,000 in 2022 from $2,518,000 in 2021[303]. - Interest expense for 2022 was $10,505,000, slightly down from $10,882,000 in 2021[303]. Revenue Sources and Customer Base - Approximately 83% of the company's revenues in 2022 came from its Services segment, indicating a strong reliance on service offerings[22]. - The top ten customers accounted for approximately 33% of total revenues in 2022, with no single customer exceeding 10% of revenues[22]. - The company estimates that its Plant Condition Management Software (PCMS) is used by approximately 50% of U.S. refiners, providing recurring maintenance and support fees[34]. - The company has established long-term relationships with leading companies in asset-intensive infrastructure, primarily in oil and gas, aerospace, and manufacturing sectors[21]. - The company operates in three segments: Services, International, and Products and Systems, focusing on asset protection solutions primarily in North America[89]. - No customer represented 10% or more of the Company's revenue for the years ended December 31, 2022 and 2021[331]. Technological Advancements and Innovations - The company has developed the Sensoria™ blade monitoring technology for real-time monitoring of wind turbine blades, enhancing capabilities in the renewable energy sector[39]. - The OneSuite software platform offers over 90 integrated applications for asset integrity data management, centralizing customer data activities[30]. - The company has invested in digitalizing field inspection data collection and management through the MISTRAS Digital platform, improving data accessibility for customers[36]. - The company has established Centers of Excellence (COEs) to provide specialized support in various sectors, including Aerospace and Automated Ultrasonics[54]. - The company utilizes its MISTRAS Digital platform to provide real-time data and analytics, enhancing asset protection solutions across various industries[117]. - The company is focusing on digital transformation, with an emphasis on big data intelligence and actionable insights from asset integrity data, which is expected to enhance customer operations[61]. - The company received a U.S. patent for Sensoria, a rotor blade monitoring system, enhancing its capabilities in the renewable energy sector[109]. - The company has invested in the development of MISTRAS Digital, an electronic platform for field inspection assignments, aimed at enhancing efficiency and data flow[136]. Market Trends and Opportunities - The asset protection industry is experiencing growth due to the need for maintaining aging infrastructure, with companies increasingly investing in asset protection solutions to ensure operational integrity[59]. - The demand for advanced non-destructive testing (ANDT) solutions is rising, driven by the need for skilled personnel and integrated service providers capable of offering comprehensive asset protection solutions[58]. - The introduction of stringent pipeline integrity regulations is creating opportunities for the company to provide integrated inspection and data management solutions[68]. - The aerospace industry is rebounding, with backlog and production levels approaching pre-pandemic levels, creating opportunities for the company’s inspection and testing services[105]. - The company is expanding its focus on the aerospace and defense industries, driven by a backlog in commercial aircraft production and the need for advanced inspection solutions[82]. - The company expects demand for non-invasive inspections to rise, allowing for cost savings associated with reduced equipment downtime during testing[103]. Safety and Compliance - The company’s asset protection solutions help clients comply with safety and environmental regulations, extend asset life, and minimize repair costs[17]. - For the year ended December 31, 2022, the Total Recordable Incident Rate (TRIR) was 0.41, while the Days Away, Restricted and Transferred Rate was 0.15, and the Lost Work Day Rate remained at historical lows of 0.03[131]. - The company emphasizes a safety-conscious culture, continuously monitoring safety performance through company-wide safety statistics[130]. - The company is subject to numerous environmental, legal, and regulatory requirements worldwide, including the Clean Air Act and the Toxic Substances Control Act[142]. Strategic Initiatives and Future Outlook - The company aims to enhance its mechanical services portfolio, providing value through efficiency and speed in operations, particularly in high-access environments[84]. - The company plans to capitalize on acquisitions to enhance its solutions and expand its customer base, although significant acquisitions are not expected in 2023 due to current debt levels[88]. - The business is seasonal, with revenues typically lower in summer and winter months compared to fall and spring due to the oil and gas market's non-peak periods[133]. - The Company eliminated substantially all COVID-related cost reduction initiatives in 2022, reinstating employer match and increasing wages back to pre-pandemic levels[320]. - The Company is currently unable to predict the overall impact of inflationary pressures and the Russian-Ukrainian war on its business operations[321]. Financial Position and Assets - As of December 31, 2022, the company held seven U.S. patents and had six patent applications pending, all filed since 2018[140]. - As of December 31, 2022, Mistras Group reported total assets of $534.9 million, a decrease from $562.2 million in 2021[301]. - The company had goodwill of $199.6 million as of December 31, 2022, with no impairment charges recorded during the year[296]. - Mistras Group's total current assets increased to $167.9 million in 2022 from $161.3 million in 2021[301]. - The company's total liabilities decreased to $336.2 million in 2022 from $361.3 million in 2021[301]. - Mistras Group's total equity decreased to $198.7 million in 2022 from $200.9 million in 2021[301]. - For the year ended December 31, 2022, a 10% movement in average U.S. Dollar exchange rates would cause a change in adjusted operating income of approximately $0.1 million[284]. - Borrowings under the $190 million revolving credit facility and $125 million term loan are subject to interest rates ranging from 1.25% to 2.75% based on the Total Consolidated Debt Leverage Ratio[283]. - An increase in interest rates by 100 basis points would increase annual interest expense by approximately $1.9 million based on variable rate debt of $186.6 million[283].

Mistras Group, Inc. (NYSE:MG) Q4 2022 Earnings Call Transcript March 9, 2023 9:00 AM ET Company Participants Dennis Bertolotti - President & Chief Executive Officer Ed Prajzner - Executive Vice President & Chief Financial Officer Conference Call Participants Chris Sakai - Singular Research Mitch Pinheiro - Sturdivant Brian Russo - Sidoti Operator Thank you for joining Mistras Group's Conference Call for its Fourth Quarter and Fiscal Year ended December 31, 2022. My name is Michelle, and I will be your event ...

PART I—FINANCIAL INFORMATION [Financial Statements](index=4&type=section&id=ITEM%201.%20Financial%20Statements) This section presents Mistras Group, Inc.'s unaudited condensed consolidated financial statements as of and for the periods ended September 30, 2022 [Condensed Consolidated Balance Sheets](index=4&type=section&id=Condensed%20Consolidated%20Balance%20Sheets) As of September 30, 2022, total assets decreased to $540.4 million from $562.2 million at year-end 2021, primarily due to reductions in goodwill, intangible assets, and property, plant, and equipment Condensed Consolidated Balance Sheet Highlights (in thousands) | Account | Sep 30, 2022 (unaudited) | Dec 31, 2021 | | :--- | :--- | :--- | | **Total current assets** | $174,433 | $161,338 | | Goodwill | $197,433 | $205,439 | | **Total assets** | **$540,446** | **$562,195** | | **Total current liabilities** | $107,512 | $121,415 | | Long-term debt, net | $193,847 | $182,403 | | **Total liabilities** | **$353,390** | **$361,283** | | **Total equity** | **$187,056** | **$200,912** | [Unaudited Condensed Consolidated Statements of Income](index=5&type=section&id=Unaudited%20Condensed%20Consolidated%20Statements%20of%20Income) For the third quarter of 2022, revenue increased to $178.5 million from $174.6 million year-over-year, and net income attributable to Mistras Group rose to $4.4 million from $3.4 million Q3 2022 vs Q3 2021 Performance (in thousands, except per share data) | Metric | Q3 2022 | Q3 2021 | | :--- | :--- | :--- | | Revenue | $178,462 | $174,556 | | Gross Profit | $53,784 | $52,216 | | Income from Operations | $9,114 | $9,236 | | Net Income attributable to Mistras Group | $4,373 | $3,380 | | Diluted EPS | $0.14 | $0.11 | Nine Months 2022 vs 2021 Performance (in thousands, except per share data) | Metric | Nine Months 2022 | Nine Months 2021 | | :--- | :--- | :--- | | Revenue | $519,155 | $505,968 | | Gross Profit | $147,233 | $147,553 | | Income from Operations | $13,991 | $15,864 | | Net Income attributable to Mistras Group | $3,653 | $3,955 | | Diluted EPS | $0.12 | $0.13 | [Unaudited Condensed Consolidated Statements of Cash Flows](index=8&type=section&id=Unaudited%20Condensed%20Consolidated%20Statements%20of%20Cash%20Flows) For the nine months ended September 30, 2022, net cash provided by operating activities was $10.5 million, a decrease from $22.5 million in the prior year, mainly due to changes in working capital Cash Flow Summary (Nine months ended Sep 30, in thousands) | Activity | 2022 | 2021 | | :--- | :--- | :--- | | Net cash provided by operating activities | $10,531 | $22,469 | | Net cash used in investing activities | $(8,877) | $(15,494) | | Net cash used in financing activities | $(4,753) | $(8,866) | | **Net change in cash and cash equivalents** | **$(6,026)** | **$(3,163)** | [Notes to Unaudited Condensed Consolidated Financial Statements](index=9&type=section&id=Notes%20to%20Unaudited%20Condensed%20Consolidated%20Financial%20Statements) These notes provide detailed explanations of accounting policies, financial statement components, and recent developments - The company provides technology-enabled asset protection solutions for critical industrial and civil assets, with a focus on ESG initiatives and its OneSuite™ digital platform[24](index=24&type=chunk)[25](index=25&type=chunk)[26](index=26&type=chunk) - Business operations are being impacted by disruptions in the oil & gas market and supply chain due to the Russian-Ukrainian conflict, leading to deferred maintenance and inspection work by some customers[28](index=28&type=chunk)[30](index=30&type=chunk) - On August 1, 2022, the Company entered into a new 5-year credit agreement, replacing its prior one, providing a **$190 million revolving credit facility** and a **$125 million term loan**[97](index=97&type=chunk) - The Services segment is the largest, providing asset protection solutions in North America, while the International and Products and Systems segments offer similar services and products globally[130](index=130&type=chunk) [Management's Discussion and Analysis of Financial Condition and Results of Operations (MD&A)](index=29&type=section&id=ITEM%202.%20Management%27s%20Discussion%20and%20Analysis%20of%20Financial%20Condition%20and%20Results%20of%20Operations) Management discusses the company's financial performance, highlighting a 2.2% revenue increase in Q3 2022 driven by organic growth in the Services segment, partially offset by unfavorable foreign exchange rates [Results of Operations](index=32&type=section&id=Results%20of%20Operations) For Q3 2022, revenue increased 2.2% to $178.5 million, and gross profit rose 3.0% to $53.8 million, with gross margin improving to 30.1% Consolidated Results of Operations Highlights | Metric | Q3 2022 | Q3 2021 | 9 Months 2022 | 9 Months 2021 | | :--- | :--- | :--- | :--- | :--- | | Revenues | $178,462 | $174,556 | $519,155 | $505,968 | | Gross profit | $53,784 | $52,216 | $147,233 | $147,553 | | Gross profit % | 30.1% | 29.9% | 28.4% | 29.2% | | Income from operations | $9,114 | $9,236 | $13,991 | $15,864 | - Q3 2022 revenue growth was driven by a **mid single-digit organic increase**, led by the Services segment (**+5.4%**), partially offset by an **11.7% decline** in the International segment due to unfavorable foreign exchange rates[161](index=161&type=chunk) - Oil and gas customer revenue increased to **54% of total revenue** in Q3 2022 from **53%** in Q3 2021, while aerospace and defense revenue grew to **12% of total revenue** from **10%**[162](index=162&type=chunk) - Selling, general and administrative (SG&A) expenses increased by **$2.4 million** in Q3 2022 compared to Q3 2021, mainly due to the reversal of temporary cost reductions implemented in 2020[178](index=178&type=chunk) [Liquidity and Capital Resources](index=39&type=section&id=Liquidity%20and%20Capital%20Resources) The company's liquidity remains strong, with $18.1 million in cash and cash equivalents and $105.3 million of unused commitments under its new credit facility as of September 30, 2022 Cash Flow Summary (Nine months ended Sep 30, in thousands) | Activity | 2022 | 2021 | | :--- | :--- | :--- | | Net cash provided by operating activities | $10,531 | $22,469 | | Net cash used in investing activities | $(8,877) | $(15,494) | | Net cash used in financing activities | $(4,753) | $(8,866) | - As of September 30, 2022, the company had **$18.1 million** in cash and cash equivalents, with **$196.7 million** in borrowings and **$105.3 million** of unused commitments under its New Credit Agreement[198](index=198&type=chunk) - The decrease in cash from operating activities in 2022 was primarily attributable to a build-up of net working capital in the course of normal operations[194](index=194&type=chunk) [Quantitative and Qualitative Disclosures about Market Risk](index=41&type=section&id=ITEM%203.%20Quantitative%20and%20Qualitative%20Disclosures%20about%20Market%20Risk) The company reports that there have been no significant changes to its quantitative and qualitative disclosures about market risk from those discussed in its 2021 Annual Report on Form 10-K - There have been no significant changes to the company's market risk disclosures since the 2021 Annual Report[205](index=205&type=chunk) [Controls and Procedures](index=41&type=section&id=ITEM%204%20Controls%20and%20Procedures) Management, including the CEO and CFO, evaluated the company's disclosure controls and procedures and concluded they were effective as of September 30, 2022 - Management concluded that as of September 30, 2022, the company's disclosure controls and procedures were **effective**[206](index=206&type=chunk) - No changes occurred in the company's internal control over financial reporting during the quarter ended September 30, 2022, that materially affected, or are reasonably likely to materially affect, internal controls[207](index=207&type=chunk) PART II—OTHER INFORMATION [Legal Proceedings](index=42&type=section&id=ITEM%201.%20Legal%20Proceedings) This section refers to Note 14 of the financial statements for a description of legal proceedings, stating no material developments beyond what is disclosed there and in the 2021 Annual Report - For details on legal proceedings, refer to Note 14—Commitments and Contingencies, as there have been no material developments beyond what is disclosed there and in the 2021 Annual Report[210](index=210&type=chunk) [Risk Factors](index=42&type=section&id=ITEM%201.A.%20Risk%20Factors) The company states that there have been no material changes to the risk factors previously disclosed in its 2021 Annual Report on Form 10-K - There have been no material changes to the risk factors previously disclosed in the 2021 Annual Report[211](index=211&type=chunk) [Unregistered Sales of Equity Securities and Use of Proceeds](index=42&type=section&id=ITEM%202.%20Unregistered%20Sales%20of%20Equity%20Securities%20and%20Use%20of%20Proceeds) The company reported no sales of unregistered securities during the period and no shares of its common stock were repurchased during the quarter - The company did not have any sales of unregistered securities and did not repurchase any of its equity securities during the quarter[212](index=212&type=chunk)[214](index=214&type=chunk) [Defaults Upon Senior Securities](index=42&type=section&id=ITEM%203.%20Defaults%20Upon%20Senior%20Securities) The company reported no defaults upon senior securities - None[215](index=215&type=chunk) [Mine Safety Disclosures](index=42&type=section&id=ITEM%204.%20Mine%20Safety%20Disclosures) This item is not applicable to the company - Not applicable[216](index=216&type=chunk) [Other Information](index=42&type=section&id=ITEM%205.%20Other%20Information) The company reported no other information for this item - None[217](index=217&type=chunk) [Exhibits](index=43&type=section&id=ITEM%206.%20Exhibits) This section lists the exhibits filed with the Form 10-Q, including the new Credit Agreement, CEO and CFO certifications, and XBRL data files - Filed exhibits include the Credit Agreement dated August 1, 2022, CEO/CFO certifications (Rule 13a-14(a) and Section 906), and XBRL interactive data files[219](index=219&type=chunk)

Mistras Group, Inc. (NYSE:MG) Q3 2022 Earnings Conference Call November 3, 2022 9:00 AM ET Company Participants Dennis Bertolotti - President & Chief Executive Officer Ed Prajzner - Executive Vice President, Chief Executive Officer & Treasurer Jon Wolk - Senior Executive Vice President & Chief Operations Officer Conference Call Participants Chris Sakai - Singular Research Mitch Pinheiro - Sturdivant & Co. Brian Russo - Sidoti Operator Thank you for joining, Mistras Group's Conference Call for its Third Quar ...