NCS Multistage Holdings, Inc. (NASDAQ:NCSM) Q4 2022 Earnings Conference Call March 7, 2023 8:30 AM ET Company Participants Ryan Hummer - CEO Mike Morrison - CFO Conference Call Participants Bill Austin - Daniel Energy Partners Operator Good day and welcome to the NCS Multistage Fourth Quarter 2022 Earnings Conference Call. All participants will be in a listen-only mode. [Operator Instructions]. After today???s presentation there will be an opportunity to ask questions. [Operator Instructions]. Please note t ...

Investor Update March 2023 2 Forward-Looking Statements The information in this presentation includes "forward-looking statements" that are subject to risks and uncertainties. All statements, other than statements of historical fact included in this presentation, regarding NCS Multistage Holdings, Inc.'s (the "Company," "NCS", "NCSM", "we" or "us") strategy, financial guidance, future operations, financial position, estimated revenues and losses, projected costs, prospects, plans and objectives of managemen ...

Investor Update November 2022 Disclaimer 2 Leading Global Fnergy Technology Forward-Looking Statements The information in this presentation includes "forward-looking statements" that are subject to risks and uncertainties. All statements, other than statements of historical fact included in this presentation, regarding NCS Multistage Holdings, Inc.'s (the "Company," "NCS", "NCSM", "we" or "us") strategy, financial guidance, future operations, financial position, estimated revenues and losses, projected cost ...

NCS Multistage Holdings, Inc. (NASDAQ:NCSM) Q3 2022 Earnings Conference Call November 1, 2022 8:30 AM ET Company Participants Ryan Hummer - Chief Financial Officer Robert Nipper - Founder and Chief Executive Officer Mike Morrison - Incoming Chief Financial Officer Conference Call Participants John Daniel - Daniel Energy Partners Operator Good day and thank you for standing by. Welcome to the NCS Multistage Third Quarter 2022 Earnings Conference Call. [Operator Instructions] Please be advised that today???s ...

PART I. FINANCIAL INFORMATION [Financial Statements (Unaudited)](index=3&type=section&id=Item%201.%20Financial%20Statements%20(Unaudited)) The unaudited condensed consolidated financial statements for the period ended September 30, 2022, show a net income of **$4.0 million** for Q3 2022, despite negative cash from operations for the nine-month period due to increased working capital [Condensed Consolidated Balance Sheets](index=3&type=section&id=Condensed%20Consolidated%20Balance%20Sheets) Total assets decreased to **$137.1 million** as of September 30, 2022, from **$142.3 million** at year-end 2021, primarily due to a reduction in cash and cash equivalents Condensed Consolidated Balance Sheet Highlights (in thousands) | Account | Sep 30, 2022 | Dec 31, 2021 | | :--- | :--- | :--- | | **Total Current Assets** | $85,438 | $88,493 | | **Total Assets** | **$137,148** | **$142,325** | | **Total Current Liabilities** | $20,063 | $19,818 | | **Total Liabilities** | **$31,724** | **$31,658** | | **Total Equity** | **$105,424** | **$110,667** | | Cash and cash equivalents | $9,877 | $22,168 | [Condensed Consolidated Statements of Operations](index=4&type=section&id=Condensed%20Consolidated%20Statements%20of%20Operations) Total revenues increased **50.8%** to **$48.9 million** in Q3 2022, resulting in **$3.9 million** net income, while the nine-month period still recorded a **$3.1 million** net loss despite **40.1%** revenue growth Q3 2022 vs Q3 2021 Operating Results (in thousands, except per share data) | Metric | Q3 2022 | Q3 2021 | Change (%) | | :--- | :--- | :--- | :--- | | Total Revenues | $48,870 | $32,411 | 50.8% | | Income from Operations | $4,047 | $2,640 | 53.3% | | Net Income Attributable to NCS | $3,935 | $2,796 | | | Diluted EPS | $1.58 | $1.14 | | Nine Months 2022 vs 2021 Operating Results (in thousands, except per share data) | Metric | Nine Months 2022 | Nine Months 2021 | | :--- | :--- | :--- | | Total Revenues | $115,446 | $82,386 | | Loss from Operations | ($4,066) | ($6,403) | | Net Loss Attributable to NCS | ($3,081) | ($6,396) | | Diluted EPS | ($1.27) | ($2.67) | [Condensed Consolidated Statements of Comprehensive Income (Loss)](index=5&type=section&id=Condensed%20Consolidated%20Statements%20of%20Comprehensive%20Income%20(Loss)) Comprehensive income for Q3 2022 was **$0.6 million**, a decrease from Q3 2021, primarily due to a **$3.4 million** negative foreign currency translation adjustment, leading to a **$7.4 million** comprehensive loss for the nine-month period Comprehensive Income (Loss) (in thousands) | Period | 2022 | 2021 | | :--- | :--- | :--- | | **Three Months Ended Sep 30** | | | | Net income (loss) | $3,964 | $3,226 | | Foreign currency translation adjustments | ($3,359) | ($1,007) | | Comprehensive income (loss) | $605 | $2,219 | | **Nine Months Ended Sep 30** | | | | Net income (loss) | ($3,243) | ($5,775) | | Foreign currency translation adjustments | ($4,118) | ($184) | | Comprehensive income (loss) | ($7,361) | ($5,959) | [Condensed Consolidated Statements of Stockholders' Equity](index=6&type=section&id=Condensed%20Consolidated%20Statements%20of%20Stockholders%27%20Equity) Total stockholders' equity decreased from **$110.7 million** at year-end 2021 to **$105.4 million** as of September 30, 2022, driven by the nine-month net loss and negative foreign currency translation adjustments - The change in total equity from **$110.7 million** at the end of 2021 to **$105.4 million** at the end of Q3 2022 was primarily driven by the nine-month net loss and a cumulative negative currency translation adjustment of **$4.1 million**, which were partially offset by share-based compensation[15](index=15&type=chunk)[18](index=18&type=chunk) [Condensed Consolidated Statements of Cash Flows](index=8&type=section&id=Condensed%20Consolidated%20Statements%20of%20Cash%20Flows) Net cash used in operating activities was **$9.0 million** for the nine months ended September 30, 2022, a reversal from the prior year, primarily due to increases in accounts receivable and inventory, leading to a **$12.3 million** decrease in cash and cash equivalents Cash Flow Summary (Nine Months Ended Sep 30, in thousands) | Cash Flow Activity | 2022 | 2021 | | :--- | :--- | :--- | | Net cash (used in) provided by operating activities | ($9,036) | $6,721 | | Net cash used in investing activities | ($440) | ($297) | | Net cash used in financing activities | ($2,387) | ($3,405) | | **Net change in cash and cash equivalents** | **($12,291)** | **$2,899** | | Cash and cash equivalents end of period | $9,877 | $18,444 | [Notes to Condensed Consolidated Financial Statements](index=9&type=section&id=Notes%20to%20Condensed%20Consolidated%20Financial%20Statements) Detailed notes disclose accounting policies, revenue disaggregation by geography (Canada largest market), the replacement of the prior credit facility with a new **$35.0 million** ABL Facility, and specifics on share-based compensation grants - The company provides engineered products and support services for oil and natural gas well construction and completions, operating primarily in North America with facilities in the US, Canada, Argentina, and Norway[25](index=25&type=chunk) Revenue by Geographic Region (Nine Months Ended Sep 30, in thousands) | Region | 2022 | 2021 | | :--- | :--- | :--- | | United States | $32,722 | $25,090 | | Canada | $76,136 | $51,530 | | Other Countries | $6,588 | $5,766 | | **Total Revenues** | **$115,446** | **$82,386** | - On May 3, 2022, the company terminated its Prior Senior Secured Credit Facility and entered into a new **$35.0 million** asset-based revolving credit facility (ABL Facility) which matures in 2027[53](index=53&type=chunk)[54](index=54&type=chunk) - During the first nine months of 2022, the company granted **70,938** RSUs, **48,565** cash-settled ESUs, and **17,454** PSUs as part of its share-based compensation program[68](index=68&type=chunk)[69](index=69&type=chunk)[70](index=70&type=chunk) [Management's Discussion and Analysis of Financial Condition and Results of Operations (MD&A)](index=18&type=section&id=Item%202.%20Management%27s%20Discussion%20and%20Analysis%20of%20Financial%20Condition%20and%20Results%20of%20Operations) Management discusses the **50.8%** YoY revenue increase in Q3 2022 driven by North American activity, noting significant cost pressures from raw materials and labor, while expecting continued strong industry activity despite risks from competition, a strong U.S. dollar, and potential economic slowdown [Outlook](index=18&type=section&id=Outlook) The company anticipates increased drilling and completion activity in the U.S. and Canada for 2022, driven by strong commodity prices, but faces challenges from intense competition, rising raw material and labor costs, a strengthening U.S. dollar, and potential economic recession - Management expects U.S. drilling activity to increase over **30%** and completion activity by over **10%** in 2022, with Canadian drilling and completion activity expected to increase by **20%** to **25%**[84](index=84&type=chunk) - The company is experiencing increased prices for raw materials (steel, chemicals), components, and outsourced services, as well as labor cost inflation, which may negatively impact margins[86](index=86&type=chunk)[111](index=111&type=chunk) - A strengthening U.S. dollar poses a risk, as over **60%** of revenue is generated in Canada, resulting in lower reported revenue and gross profit when converted to U.S. dollars[87](index=87&type=chunk) [Results of Operations](index=24&type=section&id=Results%20of%20Operations) Q3 2022 revenues increased **50.8%** to **$48.9 million**, with income from operations growing **53.3%** to **$4.0 million**, though cost of sales as a percentage of revenue increased due to supply chain costs and the absence of the ERC benefit Q3 2022 vs Q3 2021 Results Summary (in thousands) | Metric | Q3 2022 | Q3 2021 | Change (%) | | :--- | :--- | :--- | :--- | | Total Revenues | $48,870 | $32,411 | 50.8% | | Total Cost of Sales | $28,394 | $17,636 | 61.0% | | SG&A | $15,379 | $10,982 | 40.0% | | Income from Operations | $4,047 | $2,640 | 53.3% | - Q3 2022 revenue growth was driven by higher product sales and services volumes in Canada and the U.S. due to increased industry activity[115](index=115&type=chunk) - Cost of sales as a percentage of revenue increased in Q3 2022 to **58.1%** from **54.4%** in Q3 2021, due to supply chain cost increases and the non-recurrence of the U.S. employee retention credit (ERC)[116](index=116&type=chunk) [Liquidity and Capital Resources](index=26&type=section&id=Liquidity%20and%20Capital%20Resources) As of September 30, 2022, the company had **$9.9 million** in cash and access to a **$35.0 million** ABL facility, with net cash used in operations for the first nine months totaling **$9.0 million**, primarily due to increased accounts receivable and inventory - Primary liquidity sources are cash (**$9.9M**), cash from operations, and a new **$35.0M** ABL Facility, with the ABL borrowing base at **$23.8M** and no outstanding borrowings as of Sep 30, 2022[126](index=126&type=chunk) - Net cash used in operating activities was **($9.0) million** for the nine months ended Sep 30, 2022, compared to **$6.7 million** provided in the same period of 2021, primarily driven by increases in accounts receivable and inventory[24](index=24&type=chunk)[131](index=131&type=chunk) - Planned capital expenditures for 2022 are approximately **$1.0 million** to **$1.5 million**[128](index=128&type=chunk) [Quantitative and Qualitative Disclosures About Market Risk](index=30&type=section&id=Item%203.%20Quantitative%20and%20Qualitative%20Disclosures%20About%20Market%20Risk) The company's market risk exposure, primarily interest rate and foreign currency risk, remains largely unchanged since year-end 2021, with the new ABL Facility exposing it to variable interest rates, though no outstanding borrowings minimize immediate risk - The company's primary market risk exposure is to interest rates through its new ABL Facility, which has variable rates based on SOFR and CDOR, but as of September 30, 2022, there was no outstanding indebtedness under the facility[146](index=146&type=chunk) [Controls and Procedures](index=30&type=section&id=Item%204.%20Controls%20and%20Procedures) Management concluded that the company's disclosure controls and procedures were effective as of September 30, 2022, with no material changes to internal control over financial reporting during the quarter - Management concluded that as of September 30, 2022, the company's disclosure controls and procedures were effective[147](index=147&type=chunk) - No changes occurred during the quarter ended September 30, 2022, that materially affected, or are reasonably likely to materially affect, the company's internal control over financial reporting[148](index=148&type=chunk) PART II. OTHER INFORMATION [Legal Proceedings](index=31&type=section&id=Item%201.%20Legal%20Proceedings) The company is involved in various ordinary course legal proceedings, which management does not expect to have a material adverse effect on its financial position, results of operations, or cash flows - The company is subject to various legal proceedings in the ordinary course of business but does not expect them to have a material adverse effect on its financial position, results of operations, or cash flows[65](index=65&type=chunk)[151](index=151&type=chunk) [Risk Factors](index=31&type=section&id=Item%201A.%20Risk%20Factors) Updated risk factors primarily focus on the new ABL Facility, including potential adverse effects of indebtedness on financial condition, restrictive covenants limiting business strategies, and the impact of volatile credit markets on future financing - The company's new ABL Facility, secured by substantially all assets, has a borrowing base that excludes assets of Repeat Precision and could be insufficient to meet liquidity needs[153](index=153&type=chunk) - The ABL Facility contains restrictive covenants that limit the company's ability to incur debt, grant liens, make investments, pay dividends, and make acquisitions[157](index=157&type=chunk) - A breach of covenants, such as the fixed charge coverage ratio (tested when liquidity is low), could lead to an event of default and acceleration of debt[158](index=158&type=chunk)[159](index=159&type=chunk) [Exhibits](index=33&type=section&id=Item%206.%20Exhibits) Exhibits filed with the Form 10-Q include amended employment agreements for executives and required CEO and CFO certifications under the Sarbanes-Oxley Act - Exhibits filed include amended employment agreements for the CEO and another executive, as well as Sarbanes-Oxley certifications[162](index=162&type=chunk)

PART I. FINANCIAL INFORMATION [Financial Statements (Unaudited)](index=3&type=section&id=Item%201.%20Financial%20Statements%20(Unaudited)) The unaudited financial statements for the period ended June 30, 2022, indicate revenue growth, a net loss, and a decline in total assets primarily due to reduced cash and negative operating cash flow [Condensed Consolidated Balance Sheets](index=3&type=section&id=Condensed%20Consolidated%20Balance%20Sheets) As of June 30, 2022, total assets decreased to **$132.7 million** from **$142.3 million** at year-end 2021, primarily due to a reduction in cash and cash equivalents Condensed Consolidated Balance Sheet Highlights (in thousands) | Account | June 30, 2022 | December 31, 2021 | | :--- | :--- | :--- | | **Total current assets** | $79,740 | $88,493 | | Cash and cash equivalents | $14,930 | $22,168 | | **Total assets** | **$132,697** | **$142,325** | | **Total current liabilities** | $17,064 | $19,818 | | **Total liabilities** | **$28,730** | **$31,658** | | **Total equity** | **$103,967** | **$110,667** | [Condensed Consolidated Statements of Operations](index=4&type=section&id=Condensed%20Consolidated%20Statements%20of%20Operations) For the six months ended June 30, 2022, revenues increased **33%** to **$66.6 million**, yet the company reported a net loss of **$7.2 million**, a slight improvement over the prior year Statement of Operations Summary (in thousands, except per share data) | Metric | Q2 2022 | Q2 2021 | Six Months 2022 | Six Months 2021 | | :--- | :--- | :--- | :--- | :--- | | **Total revenues** | **$27,464** | **$21,461** | **$66,576** | **$49,975** | | Loss from operations | $(5,910) | $(5,391) | $(8,113) | $(9,043) | | **Net loss** | **$(5,478)** | **$(5,544)** | **$(7,207)** | **$(9,001)** | | Net loss attributable to NCS | $(5,481) | $(5,795) | $(7,016) | $(9,192) | | Diluted loss per share | $(2.25) | $(2.41) | $(2.89) | $(3.85) | [Condensed Consolidated Statements of Cash Flows](index=8&type=section&id=Condensed%20Consolidated%20Statements%20of%20Cash%20Flows) For the six months ended June 30, 2022, net cash used in operating activities was **$(5.2) million**, a significant decrease from the prior year, leading to a **$7.2 million** net decrease in cash and cash equivalents Cash Flow Summary for Six Months Ended June 30 (in thousands) | Cash Flow Activity | 2022 | 2021 | | :--- | :--- | :--- | | Net cash (used in) provided by operating activities | $(5,198) | $1,090 | | Net cash used in investing activities | $(301) | $(316) | | Net cash used in financing activities | $(1,525) | $(2,580) | | **Net change in cash and cash equivalents** | **$(7,238)** | **$(1,646)** | [Notes to Condensed Consolidated Financial Statements](index=9&type=section&id=Notes%20to%20Condensed%20Consolidated%20Financial%20Statements) The notes provide details on accounting policies, geographic revenue breakdown showing strong growth in Canada and the U.S., the new **$35.0 million** ABL Facility, and share-based compensation awards Revenue by Geographic Region (in thousands) | Region | Q2 2022 | Q2 2021 | Six Months 2022 | Six Months 2021 | | :--- | :--- | :--- | :--- | :--- | | United States | $12,133 | $9,228 | $21,211 | $17,051 | | Canada | $12,848 | $9,194 | $41,377 | $29,429 | | Other Countries | $2,483 | $3,039 | $3,988 | $3,495 | | **Total revenues** | **$27,464** | **$21,461** | **$66,576** | **$49,975** | - On May 3, 2022, the company entered into a new **$35.0 million** secured asset-based revolving credit facility (ABL Facility), which replaced and terminated its Prior Senior Secured Credit Facility[54](index=54&type=chunk)[55](index=55&type=chunk)[56](index=56&type=chunk) - During the first six months of 2022, the company granted **66,793** restricted stock units (RSUs), **48,565** cash-settled equivalent stock units (ESUs), and **17,454** performance stock units (PSUs)[69](index=69&type=chunk)[70](index=70&type=chunk)[71](index=71&type=chunk) [Management's Discussion and Analysis of Financial Condition and Results of Operations](index=18&type=section&id=Item%202.%20Management's%20Discussion%20and%20Analysis%20of%20Financial%20Condition%20and%20Results%20of%20Operations) Management discusses the **28%** Q2 2022 revenue growth driven by North American activity, offset by competitive pressures, rising costs, and supply chain disruptions, while maintaining liquidity through cash and a new ABL facility [Outlook](index=18&type=section&id=Outlook) The company anticipates increased drilling and completion activity in North America for 2022, but faces challenges from intense competition, inflationary pressures on costs, and potential economic slowdowns - Management expects U.S. drilling and completion activity to increase by over **20%** and over **10%** respectively in 2022, while Canadian activity is expected to increase by **15%** to **25%**[85](index=85&type=chunk) - The company is experiencing increased prices for raw materials (steel, chemicals), purchased components, and outsourced services, which began in H2 2021 and continued into 2022[87](index=87&type=chunk) - Tight labor conditions have led to increased employee turnover, delays in hiring, and labor cost inflation, impacting both cost of sales and SG&A expenses[87](index=87&type=chunk)[112](index=112&type=chunk) [Results of Operations](index=24&type=section&id=Results%20of%20Operations) For Q2 2022, revenues increased **28.0%** to **$27.5 million**, but cost of sales grew faster at **33.0%** due to inflation, leading to a widened operating loss of **$(5.9) million** Results of Operations Comparison (in thousands) | Metric | Q2 2022 | Q2 2021 | % Change | | :--- | :--- | :--- | :--- | | Total revenues | $27,464 | $21,461 | 28.0% | | Total cost of sales | $18,523 | $13,927 | 33.0% | | SG&A expenses | $13,745 | $11,823 | 16.3% | | Loss from operations | $(5,910) | $(5,391) | (9.6)% | - The increase in cost of sales as a percentage of revenue was driven by lower pricing for certain products, a less favorable revenue mix, and increased costs for raw materials, labor, and outsourced services[117](index=117&type=chunk) - The rise in SG&A expenses was primarily due to **$1.1 million** in higher compensation and benefit costs following the reinstatement of salaries and benefits that were temporarily reduced in prior periods[118](index=118&type=chunk) [Liquidity and Capital Resources](index=27&type=section&id=Liquidity%20and%20Capital%20Resources) As of June 30, 2022, liquidity was supported by **$14.9 million** in cash and a new **$35.0 million** ABL facility, despite negative operating cash flow of **$(5.2) million** for the first six months Liquidity Position as of June 30, 2022 (in millions) | Item | Amount | | :--- | :--- | | Cash and cash equivalents | $14.9 | | ABL Facility Size | $35.0 | | ABL Borrowing Base | $12.8 | | ABL Outstanding Borrowings | $0.0 | - The decrease in operating cash flow for the first six months of 2022 was primarily driven by the payment of a **$3.2 million** annual incentive bonus and increases in accounts receivable and inventories[135](index=135&type=chunk) - Capital expenditures for 2022 are planned to be between **$1.0 million** and **$2.0 million**[132](index=132&type=chunk) [Quantitative and Qualitative Disclosures About Market Risk](index=30&type=section&id=Item%203.%20Quantitative%20and%20Qualitative%20Disclosures%20About%20Market%20Risk) The company's market risk profile remains largely unchanged, with primary exposure to interest rate risk from the new ABL Facility, which had no outstanding borrowings as of June 30, 2022 - The company's primary market risk is interest rate risk, now tied to its new ABL Facility entered into on May 3, 2022, with borrowings bearing variable interest rates based on benchmarks including SOFR, CDOR, and prime rates[148](index=148&type=chunk)[149](index=149&type=chunk) - As of June 30, 2022, the company had no outstanding indebtedness under the ABL Facility[149](index=149&type=chunk) [Controls and Procedures](index=30&type=section&id=Item%204.%20Controls%20and%20Procedures) Management, including the CEO and CFO, concluded that the company's disclosure controls and procedures were effective as of June 30, 2022, with no material changes to internal control over financial reporting during the quarter - Management, including the CEO and CFO, concluded that as of June 30, 2022, the company's disclosure controls and procedures were effective[150](index=150&type=chunk) - There were no changes to internal control over financial reporting during the quarter ended June 30, 2022, that have materially affected, or are reasonably likely to materially affect, internal controls[151](index=151&type=chunk) PART II. OTHER INFORMATION [Legal Proceedings](index=32&type=section&id=Item%201.%20Legal%20Proceedings) The company is involved in various legal proceedings in the ordinary course of business, which management does not expect to have a material adverse effect on its financial condition or operations - The company is involved in various legal proceedings in the ordinary course of business but does not expect the results to have a material adverse effect on its financial condition[66](index=66&type=chunk)[153](index=153&type=chunk) [Risk Factors](index=32&type=section&id=Item%201A.%20Risk%20Factors) The company highlights new and updated risk factors primarily related to its new ABL Facility, including potential adverse effects on financial condition, restrictive covenants, and limitations on borrowing ability under certain liquidity conditions - The new ABL Facility is secured by substantially all company assets and availability is limited by a borrowing base calculation, which could be constrained by adverse market developments[155](index=155&type=chunk) - The ABL Facility contains restrictive covenants that limit the company's ability to, among other things, incur additional debt, grant liens, make certain investments, and pay dividends[159](index=159&type=chunk) - A financial covenant requires maintaining a fixed charge coverage ratio of at least **1.0 to 1.0** whenever liquidity is less than **20%** of revolving commitments, which could impact the ability to borrow under the facility[160](index=160&type=chunk) [Exhibits](index=34&type=section&id=Item%206.%20Exhibits) This section lists exhibits filed with the Form 10-Q, including the Credit Agreement for the new ABL Facility, an amended CFO employment agreement, and required CEO and CFO certifications - Key exhibits filed include the Credit Agreement for the new ABL Facility, an amended employment agreement for Ryan Hummer (CFO), and Sarbanes-Oxley Act certifications[164](index=164&type=chunk)

NCS Multistage Holdings, Inc. (NASDAQ:NCSM) Q2 2022 Earnings Conference Call August 2, 2022 8:30 AM ET Company Participants Ryan Hummer - Chief Financial Officer Robert Nipper - Chief Executive Officer Conference Call Participants Aditya Ahluwalia - Arrowhead Operator Good day, and thank you for standing by. Welcome to the Q2 2022 NCS Multistage Conference Call. At this time, all participants are in a listen-only mode. After the speakers??? presentation, there will be a question-and-answer session. [Operato ...

Financial Performance - The company's share price as of July 29, 2022, was $33.46 [9] - The company's equity value is $80.6 million [10] - The company's enterprise value is $91.8 million [12] - Trailing 12-month Adjusted EBITDA less share-based compensation was $7.3 million [13] - Trailing 12-month Free Cash Flow was $9.2 million [14] - Net working capital was $49.7 million [17] - Q2 2022 total revenue was $27.5 million, a 28% increase compared to Q2 2021 [42] - Q2 2022 U S revenue was $12.1 million, Canadian revenue was $12.9 million, and International revenue was $2.5 million [42] - Q2 2022 net capital expenditures were $0.2 million and free cash flow was $0.7 million [42] Financial Guidance - Q3 2022 total revenue is expected to be $38.0 - $42.0 million [45] - Full year 2022 total revenue is expected to be $145.0 - $160.0 million [45] - Full year 2022 Adjusted EBITDA is expected to be $13.0 - $16.0 million [45] - Full year 2022 gross capital expenditures are expected to be $1.0 - $2.0 million [45] Revenue Profile - For the twelve months ended June 30, 2022, 63% of revenue was from Canada, 29% from the U S, and 8% from International markets [50, 51, 52] - For the twelve months ended June 30, 2022, 69% of revenue was from product and 31% from service [51]

NCS Multistage Holdings (NASDAQ:NCSM) Q1 2022 Earnings Conference Call May 6, 2022 8:30 AM ET Company Participants Robert Nipper - Chief Executive Officer Ryan Hummer - Chief Financial Officer Conference Call Participants John Daniel - Daniel Energy Partners Operator Welcome to the First Quarter 2022 NCS Multistage Earnings Conference Call. My name is Sylvia, and I'll be operator for today's call. At this time, all participants in a listen-only mode. Later, we will conduct a question-and-answer session. [Op ...

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 (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, 2022 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 46-152745 ...