Company Overview - NCS Multistage Holdings, Inc. is a leading provider of highly engineered products and support services for optimizing oil and natural gas well construction, completions, and field development strategies [3] - The company primarily serves exploration and production companies for onshore and offshore wells, especially those drilled with horizontal laterals in both unconventional and conventional formations [3] - NCS's products and services are utilized across North America and selected international markets, including the North Sea, Middle East, Argentina, and China [3] - The company's common stock is traded on the Nasdaq Capital Market under the symbol "NCSM" [3] Upcoming Events - NCS will host a conference call to discuss its fourth quarter and full year 2024 results on March 11, 2025, at 7:30 a.m. Central Time [1] - The earnings release will be issued the evening prior to the conference call [1] - The conference call will be available via a live audio webcast, with options for participants to ask questions or join in listen-only mode [2] - A replay of the conference call will be available on the company's website shortly after the conclusion of the call for approximately seven days [2]

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]

Financial Performance & Valuation - As of October 29, 2024, the share price was $17.50, leading to an equity value of $45.3 million [7] - The company's enterprise value is $56.7 million, calculated with total debt of $8.6 million, non-controlling interest of $18.1 million, and less cash of $15.3 million [7] - Trailing 12-month Adjusted EBITDA less share-based compensation is $13.6 million, and trailing 12-month Free Cash Flow is $7.4 million [7] - Total Debt/Total Book Capitalization is 7.0%, and Net Working Capital is $64.1 million [7] - Q3 2024 total revenue reached $44.0 million, a 15% increase compared to Q3 2023 [22] - The company anticipates full year 2024 total revenue between $155.5 - $159.5 million, an 11% year-over-year increase at the midpoint, with Adjusted EBITDA between $18.0 - $20.5 million, a 49% year-over-year increase at the midpoint [23] Revenue Profile - International revenue accounts for 9% of the total [27] - Revenue from the U.S. contributes 27%, while Canada accounts for 64% [27] - Product revenue makes up 70% of the total, with services contributing the remaining 30% [27] Market Position & Strategy - The company has expanded its addressable market, with revenue increasing from $98 million in 2016 to $142 million in 2023 [17]

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) ...

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 ...