Financial Performance - Total revenues for Q3 2024 were $44.0 million, a 15% year-over-year increase from $38.3 million in Q3 2023, driven by higher international revenues and U.S. product sales[2]. - Net income for Q3 2024 was $4.1 million, or $1.60 per diluted share, compared to $4.4 million, or $1.77 per diluted share in Q3 2023[7]. - Adjusted EBITDA for Q3 2024 was $7.1 million, a $0.3 million improvement year-over-year, with an Adjusted EBITDA margin of 16% compared to 18% in the same period last year[8]. - Gross profit was $17.8 million with a gross margin of 41% in Q3 2024, up from $15.2 million and a 40% margin in Q3 2023[4]. - Total revenues for the three months ended September 30, 2024, increased to $44,006,000, up 15.5% from $38,279,000 in the same period of 2023[27]. - Product sales reached $31,675,000 for the three months ended September 30, 2024, compared to $27,286,000 in the prior year, reflecting a growth of 16.5%[27]. - Net income attributable to NCS Multistage Holdings, Inc. for the three months ended September 30, 2024, was $4,147,000, a decrease of 5.9% from $4,408,000 in the same period of 2023[27]. - The company reported a basic earnings per share of $1.63 for the three months ended September 30, 2024, down from $1.78 in the prior year[27]. - The total revenues for the nine months ended September 2024 were $117,554 thousand, an increase from $107,224 thousand in the same period last year[30]. - Adjusted net income attributable to NCS Multistage Holdings, Inc. for the three months ended September 30, 2024, was $3,887,000, compared to $4,744,000 in the same period of 2023[40]. Cash Flow and Liquidity - Free cash flow for the first nine months of 2024 was $0.4 million, a $3.3 million improvement compared to a cash use of $(3.0) million in the same period of 2023[9]. - Total liquidity as of September 30, 2024, was over $37 million, including $15.3 million in cash and availability under an undrawn revolving credit facility[17]. - Free cash flow for the three months ended September 30, 2024, was $1,350,000, compared to $(2,959,000) for the same period in 2023[46]. - Free cash flow less distributions to non-controlling interest for the three months ended September 30, 2024, was $350,000, compared to $(2,959,000) for the same period in 2023[46]. - Cash flows from operating activities provided $2,082 thousand in September 2024, a turnaround from cash used of $1,446 thousand in September 2023[29]. - The company reported a net cash provided by operating activities of $2,082,000 for the three months ended September 30, 2024, compared to $(1,446,000) for the same period in 2023[46]. Expenses and Costs - SG&A expenses for Q3 2024 totaled $14.1 million, an increase of $1.5 million year-over-year, reflecting higher annual incentive bonus accruals[5]. - The company reported total cost of sales of $25,474,000 for the three months ended September 30, 2024, an increase of 12.5% from $22,567,000 in the same period of 2023[27]. - Total cost of sales, exclusive of depreciation and amortization, was $25,474 thousand for the three months ended September 2024, compared to $22,567 thousand in the same period last year[38]. - The company recorded a provision for inventory obsolescence of $945 thousand in September 2024, compared to $256 thousand in September 2023[29]. - Share-based compensation for the three months ended September 30, 2024, was $651,000, down from $1,328,000 in the same period of 2023[44]. Assets and Liabilities - Total current assets decreased to $99,453,000 as of September 30, 2024, from $103,217,000 at the end of 2023, a decline of 3.7%[28]. - Accounts receivable—trade, net increased significantly to $36,652,000 as of September 30, 2024, compared to $23,981,000 at December 31, 2023, representing a growth of 53%[28]. - Total liabilities decreased to $31,733,000 as of September 30, 2024, down from $42,639,000 at the end of 2023, a reduction of 25.6%[28]. - Stockholders' equity increased to $114,110,000 as of September 30, 2024, compared to $109,393,000 at December 31, 2023, reflecting a growth of 4.9%[28]. - The company has maintained goodwill at $15,222,000 as of September 30, 2024, unchanged from December 31, 2023[28]. - The company reported a net working capital of $64,125 thousand as of September 30, 2024, an increase from $56,251 thousand at the end of December 2023[35]. Future Outlook - The company expects a 5-15% sequential reduction in revenue for Q4 2024 across U.S., Canada, and international markets due to anticipated lower year-end activity[18]. - The company expects to continue incurring legal costs associated with intellectual property matters, which may impact future financial performance[42].

HOUSTON, Oct. 23, 2024 (GLOBE NEWSWIRE) -- NCS Multistage Holdings, Inc. (“NCS” or the “Company”) (NASDAQ:NCSM) will host a conference call to discuss its third quarter 2024 results on Thursday, October 31, 2024 at 7:30 a.m. Central Time (8:30 a.m. Eastern Time). NCS will issue its third 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 ...

Financial Performance - Total revenues for Q2 2024 were $29.7 million, a 17% year-over-year increase from $25.4 million in Q2 2023[2] - Net loss for Q2 2024 was $(3.1) million, or $(1.21) per share, significantly improved from a net loss of $(32.2) million, or $(13.02) per share in Q2 2023[6] - Adjusted EBITDA for Q2 2024 was $0.9 million, a $3.2 million improvement year-over-year, resulting in an Adjusted EBITDA margin of 3% compared to (9)% in Q2 2023[7][10] - Gross profit for Q2 2024 was $11.3 million, with a gross margin of 38%, up from $7.9 million and 31% in Q2 2023[4] - The net loss attributable to NCS Multistage Holdings, Inc. narrowed to $3,095,000 for the three months ended June 30, 2024, compared to a loss of $32,231,000 in the same period last year[20] - The company reported a basic loss per common share of $1.21 for the three months ended June 30, 2024, compared to $13.02 in the same period last year[20] - Net loss for the three months ended June 30, 2024, was $286,000 compared to a net loss of $47,072,000 for the same period in 2023[22] - The net loss attributable to NCS Multistage Holdings, Inc. for the three months ended June 30, 2024, was $2,839 thousand, compared to a net loss of $32,076 thousand for the same period in 2023[36] - The adjusted net loss attributable to NCS Multistage Holdings, Inc. for the six months ended June 30, 2024, was $(6,196) thousand, compared to $(4,617) thousand for the same period in 2023[36] Revenue Breakdown - Total revenues for the three months ended June 30, 2024, increased to $29,690,000, up 16.3% from $25,391,000 for the same period in 2023[20] - Product sales rose to $19,022,000, a 9.1% increase compared to $17,433,000 in the prior year[20] - Service revenues increased significantly by 33.9% to $10,668,000 from $7,958,000 year-over-year[20] - Total revenues for the three months ended June 30, 2024, increased to $29,690,000, up 17.3% from $25,391,000 in the same period of 2023[23] Cash Flow and Liquidity - Cash flow from operating activities for the first half of 2024 was $4.1 million, a $5.1 million improvement compared to the same period in 2023[7] - Free cash flow for the first half of 2024 was $3.2 million, compared to a use of cash of $(2.0) million in the same period of 2023[7] - Cash flows from operating activities provided $4,099,000 for the three months ended June 30, 2024, compared to cash used of $1,042,000 in the same period of 2023[22] - Total cash and cash equivalents at the end of the period were $18,614,000, up from $13,746,000 at the end of June 30, 2023[22] - Cash and cash equivalents increased to $18,614,000 from $16,720,000, indicating a stronger liquidity position[21] - Free cash flow for the three months ended June 30, 2024, was $3,706 thousand, a recovery from a negative free cash flow of $(2,020) thousand in the same period of 2023[38] Assets and Liabilities - As of June 30, 2024, the company had $18.6 million in cash and $8.9 million in total debt[8] - Total current assets decreased to $91,846,000 as of June 30, 2024, down from $103,217,000 at the end of 2023[21] - Total liabilities decreased significantly to $30,326,000 from $42,639,000 at the end of 2023, reflecting improved financial health[21] - Net working capital as of June 30, 2024, was $55,373,000, slightly down from $56,251,000 as of December 31, 2023[27] Operational Focus and Future Outlook - The company expects a year-over-year revenue increase in Q3 2024 driven by international revenues and increased sales in the U.S.[12] - The company anticipates average industry activity in Canada to be flat to slightly higher in 2024, while U.S. activity is expected to decline by 5% to 10%[11] - The company is focused on expanding its international market presence and enhancing product and service innovation to drive revenue growth in 2024[13] - The company continues to focus on expanding its product offerings and enhancing service capabilities to drive future growth[20] Expenses and Other Financial Metrics - Selling, general, and administrative expenses remained relatively stable at $14,820,000, compared to $14,477,000 in the prior year[20] - Total cost of sales for the three months ended June 30, 2024, was $17,719,000, compared to $16,929,000 in the same period of 2023[30] - Cash used in investing activities for the three months ended June 30, 2024, was $393,000, a decrease from $978,000 in the same period of 2023[22] - Payments on finance leases for the three months ended June 30, 2024, were $932,000, compared to $743,000 in the same period of 2023[22] - The company incurred a provision for litigation of $0 thousand for the three months ended June 30, 2024, compared to $24,886 thousand for the same period in 2023[36] - Share-based compensation for the three months ended June 30, 2024, was $667 thousand, down from $1,044 thousand in the same period of 2023[36] - The company expects to continue incurring legal costs associated with intellectual property matters, which may impact future financial performance[34] - The company reported a foreign currency exchange loss of $507 thousand for the three months ended June 30, 2024, compared to a gain of $(23) thousand for the same period in 2023[36]

Contact: Mike Morrison Chief Financial Officer and Treasurer +1 281-453-2222 IR@ncsmultistage.com 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. NCS Multistage Holdings, Inc. is a leading provider o ...

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 ...