HOUSTON, July 25, 2024 (GLOBE NEWSWIRE) -- NCS Multistage Holdings, Inc. ("NCS" or the "Company") (NASDAQ:NCSM) will host a conference call to discuss its second quarter 2024 results on Thursday, August 1, 2024 at 7:30 a.m. Central Time (8:30 a.m. Eastern Time). NCS will issue its second quarter 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 call here to receive the di ...

NCS Multistage Holdings, Inc. [NCSM] Q1 2024 Earnings Conference Call May 2, 2024 8:30 AM ET Company Participants Ryan Hummer - CFO Mike Morrison - CFO Conference Call Participants Dave Storms - Stonegate Capital Partners Blake McLean - Daniel Energy Partners Operator Good day and thank you for standing by, and welcome to the Q1 2024 NCS Multistage Earnings Conference Call. [Operator Instructions] Please be advised that today's conference is being recorded. I would now like to hand the conference over to yo ...

Leading Global Energy Technology Leading Global Fneray Technology For the reasons described above, as well as factors identified in the Company's Annual Report on Form 10-K and Quarterly Reports on Form 10-Q, under the section entitled "Risk Factors" and other filings with the Securities and Exchange Commission, we caution you against relying on any forward-looking statements. Should one or more of these risks or uncertainties occur, or should underlying assumptions prove incorrect, our actual results and p ...

Industry Activity and Market Conditions - The company expects annual average industry drilling and completion activity in Canada to be flat to slightly lower compared to 2023, with U.S. activity expected to decline by 5% to 10%[74]. - Oil prices remained volatile in 2023, with WTI crude averaging $77.50 per barrel in Q1 2024, a slight decrease from $78.53 in Q4 2023[80]. - Natural gas prices averaged $2.15 per MMBtu in Q1 2024, down from $2.74 in Q4 2023, influenced by warm winter conditions and high storage levels[81]. - The average U.S. land rig count was 602 in Q1 2024, flat compared to Q4 2023 but down 19% from Q1 2023[85]. - The average rig count in the United States decreased by 19% in Q1 2024 compared to Q1 2023, while the average rig count in Canada decreased by only 6%[98]. Financial Performance - Total revenues for the three months ended March 31, 2024, were $43.9 million, a 0.7% increase from $43.6 million in the same period of 2023[98]. - Product sales for the three months ended March 31, 2024, were $31.8 million, up 1.0% from $31.4 million in the same period of 2023[98]. - Services revenues totaled $12.1 million for both the three months ended March 31, 2024, and 2023, reflecting a slight decrease of 0.2%[98]. - Cost of sales increased to $26.9 million, or 61.3% of revenues, for the three months ended March 31, 2024, compared to $25.5 million, or 58.6% of revenues, for the same period in 2023[99]. - Selling, general and administrative expenses decreased to $13.8 million for the three months ended March 31, 2024, down 14.4% from $16.2 million in the same period of 2023[100]. - Net income for the three months ended March 31, 2024, was $2.6 million, a significant increase from a net loss of $15.0 million in the same period of 2023, representing a 117.0% improvement[97]. Cost Management and Savings - In 2024, the company expects to realize annualized cost savings of approximately $4.0 million due to several cost reduction initiatives implemented in 2023[94]. - Competitive pressure has negatively impacted market share and operating margins, constraining the ability to raise prices in an inflationary environment[76]. - Supply chain disruptions and higher raw material prices have persisted, although steel prices have begun to moderate[77]. Cash Flow and Liquidity - As of March 31, 2024, the company had cash and cash equivalents of $14.0 million and total outstanding indebtedness of $8.9 million[105]. - The company believes its cash on hand, cash flows from operations, and potential borrowings will be sufficient to fund capital expenditures and liquidity requirements for the next twelve months[108]. - Net cash used in operating activities was $1.9 million in Q1 2024 compared to $1.6 million in Q1 2023, reflecting higher trade receivable balances[112]. - Net cash used in investing activities decreased to $0.1 million in Q1 2024 from $0.5 million in Q1 2023, indicating reduced investment in property and equipment[114]. - Net cash used in financing activities increased to $0.6 million in Q1 2024 from $0.4 million in Q1 2023, primarily due to principal payments related to finance leases and treasury shares[115]. - The net change in cash and cash equivalents was a decrease of $2.716 million in Q1 2024 compared to a decrease of $2.601 million in Q1 2023[111]. - The company anticipates potential liquidity needs to fund capital requirements and may seek additional debt or equity financing, though there are no assurances of favorable terms[110]. Strategic Investments and Future Outlook - The company owns a 50% interest in Repeat Precision, which sells composite frac plugs and related products[72]. - The company anticipates international sales to increase over time, particularly in markets such as the Middle East and China[91]. - Capital expenditures for Q1 2024 were $0.3 million, down from $0.6 million in Q1 2023, with plans to incur $1.5 million to $2.5 million in 2024 for various upgrades and new equipment[109]. Risks and Reporting - The company faces various risks, including oil and natural gas price fluctuations and competition, which could impact future performance[124]. - The company remains classified as a "smaller reporting company," allowing it to take advantage of reduced reporting requirements[119]. - There have been no significant changes in material cash requirements or critical accounting estimates since the last annual report[116][117]. - The company recorded a net loss in Q1 2023 due to a $17.5 million litigation provision, which was reversed in Q4 2023, impacting year-over-year comparisons[112].

PRESS RELEASE NCS MULTISTAGE HOLDINGS, INC. ANNOUNCES FIRST QUARTER 2024 RESULTS Exhibit 99.1 NCS Multistage Holdings, Inc. 19350 State Highway 249, Suite 600 Houston, Texas 77070 First Quarter Results HOUSTON, May 1, 2024 – 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 field development strategies, today an ...

First Quarter Results Total revenues of $43.9 million, a 1% year-over-year increase and a 24% increase compared to the fourth quarter of 2023Net income of $2.1 million and earnings per diluted share of $0.82, compared to net loss of $(15.0) million and loss per share of $(6.10) in the same quarter of 2023Adjusted net income of $2.5 million and adjusted earnings per diluted share of $0.99, compared to adjusted net income of $1.2 million and adjusted earnings per diluted share of $0.50 in the first quarter of ...

HOUSTON, April 23, 2024 (GLOBE NEWSWIRE) -- NCS Multistage Holdings, Inc. ("NCS" or the "Company") (NASDAQ:NCSM) will host a conference call to discuss its first quarter 2024 results on Thursday, May 2, 2024 at 7:30 a.m. Central Time (8:30 a.m. Eastern Time). NCS will issue its first quarter 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 call here to receive the dial-i ...

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-K (Mark One) ☑ 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: 001-38071 NCS Multistage Holdings, Inc. (Exact name of registrant as specified in its charter) Delaware ...

PRESS RELEASE Exhibit 99.1 NCS Multistage Holdings, Inc. 19350 State Highway 249, Suite 600 Houston, Texas 77070 NCS MULTISTAGE HOLDINGS, INC. ANNOUNCES FOURTH QUARTER AND FULL YEAR 2023 RESULTS Fourth Quarter Results Full Year Results HOUSTON, March 7, 2024 – 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 fi ...

Market Conditions - The average WTI crude oil price was $82.25 per barrel in Q3 2023, compared to approximately $83 per barrel in Q4 2022, reflecting a decrease in the first half of 2023[87]. - Natural gas prices averaged $2.59 per MMBtu in Q3 2023, down from $5.55 per MMBtu in Q4 2022, due to warm winter conditions and reduced demand[88]. - The average U.S. land rig count declined by 17% to 630 in Q3 2023 compared to Q4 2022, and by 15% compared to the same period in 2022[92]. - The average rig counts in Canada and the United States decreased by 6% and 15%, respectively, in Q3 2023 compared to Q3 2022, impacting sales[105]. - International industry activity is expected to improve by over 10% in 2023 compared to the prior year[81]. Revenue and Sales Performance - Total revenues for the three months ended September 30, 2023, were $38.3 million, a decrease of 21.7% compared to $48.9 million for the same period in 2022[105]. - Product sales accounted for 71% of revenues for the three months ended September 30, 2023, compared to 70% for the same period in 2022[95]. - Product sales decreased by 19.7% to $27.3 million, while services revenues fell by 26.2% to $11.0 million for the three months ended September 30, 2023[104]. - For the nine months ended September 30, 2023, total revenues were $107.2 million, a decrease of 7.1% from $115.4 million in the same period of 2022[114]. - Revenues for the nine months ended September 30, 2023, were $107.2 million, a decrease from $115.4 million in the same period of 2022, primarily due to lower U.S. product sales and decreased Canadian and international services activity[115]. - Product sales decreased to $76.1 million for the nine months ended September 30, 2023, compared to $79.5 million for the same period in 2022, while services revenues totaled $31.1 million, down from $35.9 million[115]. Cost and Expenses - Cost of sales was $22.6 million, representing 59.0% of revenues, compared to $28.4 million or 58.1% of revenues in the prior year[106]. - Cost of sales was $64.5 million, or 60.2% of revenues, for the nine months ended September 30, 2023, down from $71.1 million, or 61.6% of revenues, in the same period of 2022[116]. - Selling, general and administrative expenses decreased to $12.7 million, down 17.6% from $15.4 million in the same quarter of 2022[108]. - Selling, general and administrative expenses decreased to $43.3 million for the nine months ended September 30, 2023, compared to $45.1 million in 2022, reflecting lower professional fees and incentive bonus accruals[118]. Income and Financial Position - Net income for the three months ended September 30, 2023, was $4.1 million, a slight increase of 3.7% from $4.0 million in the prior year[104]. - Other income, net for the three months ended September 30, 2023, was $2.0 million, significantly up from $0.6 million in the same period of 2022[110]. - Other income, net increased to $3.8 million for the nine months ended September 30, 2023, compared to $1.6 million in the same period of 2022, driven by recovery of unpaid invoices and increased royalty income[120]. - Cash and cash equivalents as of September 30, 2023, were $11.4 million, with total outstanding indebtedness of $8.3 million related to finance lease obligations[123]. - Net cash used in operating activities improved to $1.4 million for the nine months ended September 30, 2023, from $9.0 million in the same period of 2022[131]. Litigation and Legal Matters - The provision for litigation resulted in a net expense of $42.5 million for the nine months ended September 30, 2023, compared to no expense in the same period of 2022[114]. - The provision for litigation, net of recoveries, totaled $42.5 million for the nine months ended September 30, 2023, primarily related to a judgment in the Texas Matter[119]. - The company intends to appeal the judgment related to the Texas Matter and believes it has strong arguments for a potential reversal of damages awarded[126]. Operational Challenges and Risks - The company has experienced supply chain disruptions and higher raw material costs, impacting both cost of sales and SG&A expenses[85]. - Competitive pressures have intensified, potentially impacting market share and operating margins for certain product lines[83]. - The company faces significant competition for its products and services, leading to pricing pressures and potential loss of market share[141]. - There is a risk of not successfully developing new technologies and products that meet customer needs, particularly in non-traditional energy markets[141]. - The company aims to increase sales in U.S. and international markets but may encounter challenges in implementation[141]. - Potential losses could arise from the inability to protect intellectual property and adverse outcomes in related disputes[141]. - The company is exposed to risks from uninsured business activities and litigation, which could impact financial stability[141]. - There are concerns regarding the ability to achieve price increases to counteract cost inflation[141]. - The company may face difficulties in attracting and retaining qualified employees, which could affect operational efficiency[141]. - Currency exchange rate fluctuations pose a risk to financial performance[141]. - The company must navigate regulatory changes in the oil and natural gas industry, including emissions restrictions[141]. - There is a risk of not accurately predicting customer demand, potentially leading to excess or obsolete inventory[141].