Financial Performance - Revenues for Q3 2024 were $138,157, a decrease of 2% compared to $140,617 in Q3 2023[111] - Adjusted gross profit for Q3 2024 was $24,706, an increase of 8% from $22,941 in Q3 2023[111] - Net loss for Q3 2024 was $10,143, a 24% improvement from a net loss of $13,262 in Q3 2023[111] - Revenues decreased by $2.5 million, or 2%, to $138.2 million for Q3 2024, primarily due to pricing decreases and a 10% drop in the average U.S. rig count compared to Q3 2023[112] - Adjusted gross profit increased by approximately $1.8 million to $24.7 million for Q3 2024, influenced by revenue and cost changes[114] - Net loss decreased by $3.1 million, or 24%, to $10.1 million for Q3 2024, while Adjusted EBITDA increased by $2.7 million, or 23%, to $14.3 million[121] - For the first nine months of 2024, revenues decreased by $52.8 million, or 11%, to $412.7 million, attributed to pricing decreases and a 15% decline in the average U.S. rig count[124] - Adjusted gross profit for the first nine months of 2024 decreased by $22.0 million to $71.2 million due to revenue and cost factors[126] - Net loss increased by $10.3 million, or 47%, to $32.2 million for the first nine months of 2024, with Adjusted EBITDA decreasing by $19.3 million, or 33%, to $39.1 million[134] Expenses and Cost Management - General and administrative expenses decreased by 5% to $12,366 in Q3 2024 from $13,060 in Q3 2023[111] - General and administrative expenses decreased by $9.9 million to $37.1 million for the first nine months of 2024, primarily due to non-recurring costs from the previous year[126] - Cost of revenues for Q3 2024 decreased by $4.2 million, or 4%, to $113.5 million, primarily due to reduced activity in certain service lines[113] - Depreciation expense decreased by $1.1 million to $6.2 million for Q3 2024, attributed to lower capital expenditures over the past twelve months[115] - The company has implemented cost reduction and supply chain initiatives, which began to positively impact profitability starting at the end of Q2 2024[148] Market Conditions and Outlook - The U.S. rig count has declined by approximately 6% since the end of 2023, impacting market conditions[107] - Average natural gas prices for the first nine months of 2024 were $2.11, 17% lower than in 2023, which had already seen a decline of over 60% compared to 2022[105] - The rig count in the Haynesville basin has decreased by approximately 54% since the end of 2022, leading to decreased activity levels[105] - The company anticipates lower revenue and profitability in Q4 2024 compared to Q3 2024 due to typical budget exhaustion and seasonal slowdowns[107] - The company remains cautiously optimistic about the energy sector, with potential upside for North American activity levels if natural gas prices recover[108] - Significant factors affecting future commodity prices include geopolitical developments, OPEC actions, and overall supply and demand fundamentals[109] Capital and Liquidity - The company’s total capital as of September 30, 2024, was $276,787 thousand, a decrease from $318,725 thousand as of the same date in 2023[144] - The company’s total debt as of September 30, 2024, was $350,000 thousand, a slight decrease from $357,000 thousand as of the same date in 2023[144] - As of September 30, 2024, the company had a total liquidity position of $43.3 million, consisting of $15.7 million in cash and cash equivalents and $27.6 million available under the ABL Credit Facility[151] - The company continues to monitor potential capital sources, including equity and debt financing, to meet investment and liquidity requirements[150] - The company is required to make an Excess Cash Flow Offer on May 15 and November 14, with the Excess Cash Flow Amount for November 14, 2024, projected to be $0, resulting in no offer being made[157] - The ABL Credit Facility was amended to decrease its size from $200.0 million to $150.0 million and extend the maturity date to January 29, 2027[160] - The company was in compliance with all covenants contained in the 2028 Notes Indenture and the ABL Credit Agreement as of September 30, 2024[162] Shareholder Activities - During the three months ended September 30, 2024, the company sold 1,181,090 shares under the Equity Distribution Agreement, generating net proceeds of $1.4 million after commissions[153] - The company completed a public offering of 300,000 units on January 30, 2023, raising $279.8 million after underwriting discounts, which was used to redeem $307.3 million of 2023 Notes[154] Cash Flow Activities - Net cash used in operating activities was $1.8 million for the first nine months of 2024, a significant decrease from $21.2 million in net cash provided in the same period of 2023[168] - Net cash used in investing activities was $11.2 million in the first nine months of 2024, compared to $14.7 million in the same period of 2023, reflecting a decrease in cash purchases of property and equipment[169] - The company reported net cash used in financing activities of $2.1 million for the first nine months of 2024, a decrease from $11.6 million in the same period of 2023, primarily due to the absence of significant debt redemption costs[170] - As of September 30, 2024, the company had $50.0 million in borrowings under the ABL Credit Facility, with approximately $27.6 million available after accounting for outstanding letters of credit[164]

Exhibit 99.1 Nine Energy Service Announces Third Quarter 2024 Results • Increased revenue ~4% quarter over quarter, despite the average Q3 US rig count declining by ~3% • Sequential quarterly net loss improved and decreased by ~28% for the third quarter of 2024 • Sequential quarterly adjusted EBITDAA increased by ~47% for the third quarter of 2024 • Revenue, net loss and adjusted EBITDA of $138.2 million, $(10.1) million and $14.3 million, respectively, for the third quarter of 2024 • Increased cementing re ...

Core Viewpoint - Nine Energy Service (NINE) has experienced a bearish trend, losing 17.8% in the past week, but a hammer chart pattern suggests a potential trend reversal due to increased buying interest and positive earnings outlook from analysts [1]. Group 1: Technical Analysis - The formation of a hammer chart pattern indicates that the stock may be nearing a bottom, suggesting potential exhaustion of selling pressure [1]. - A hammer pattern typically forms during a downtrend, where the stock opens lower, makes a new low, but then closes near or above the opening price, signaling a possible loss of control by bears [2]. - Hammer candles can appear on various timeframes and should be used alongside other bullish indicators for confirmation [2]. Group 2: Fundamental Analysis - Recent upward revisions in earnings estimates for NINE serve as a bullish indicator, with a 5.4% increase in the consensus EPS estimate over the last 30 days [3]. - NINE holds a Zacks Rank of 2 (Buy), placing it in the top 20% of over 4,000 ranked stocks, indicating strong potential for outperformance in the market [3]. - The Zacks Rank is a reliable timing indicator, suggesting that NINE's prospects are improving, further supporting the likelihood of a trend reversal [3].

Financial Data and Key Metrics Changes - Revenue for Q2 2024 was $132.4 million, within the guidance of $130 million to $140 million [4] - Adjusted EBITDA was $9.7 million, and diluted EPS was negative $0.40 [4] - Cash and cash equivalents were $26 million, with total liquidity of $50.8 million as of June 30, 2024 [8] - General and administrative expenses were $12.5 million, and depreciation and amortization expenses were $9.4 million [10] - CapEx spend for Q2 was $2.5 million, with a revised full-year CapEx range of $10 million to $15 million [10] Business Line Data and Key Metrics Changes - Cementing revenue decreased by approximately 5% to $45.8 million, with a 2% decrease in completed jobs [8] - Wireline revenue was flat at $28 million, with a 2% decrease in completed stages but a 2% increase in average blended revenue per stage [9] - Completion tool revenue decreased by approximately 8% to $32.4 million, with a 10% decrease in completed stages [9] - Coiled tubing revenue decreased by approximately 15% to $26.2 million, with a 23% decrease in days worked [9] Market Data and Key Metrics Changes - The U.S. land rig count has seen a decline of over 200 rigs since the end of 2022, impacting revenue and earnings [4] - Natural gas prices remain around $2, leading to delayed completions and rig declines [12] - The rig count in Q3 is expected to be relatively flat compared to Q2, with projected revenue between $127 million and $137 million [12] Company Strategy and Development Direction - The company aims to grow its international tools business as part of its medium- to long-term strategy [6] - The focus is on enhancing efficiency and maintaining flexibility in operations to capitalize on market recovery [17] - The company is optimistic about the medium- and long-term outlook for the gas market, anticipating increased power demand in the U.S. [12][23] Management's Comments on Operating Environment and Future Outlook - Management noted that the current market is challenging, but they are prepared to capitalize on growth opportunities when they arise [12][24] - The company believes it can maintain a competitive edge due to its asset-light business model and strong team [13] - Management expressed confidence in the potential for a market rebound in the back half of 2025 [24] Other Important Information - The company completed 926 cementing jobs in Q2, a decrease of approximately 2% [8] - The average blended revenue per job in cementing decreased by approximately 3% [8] - The company has implemented a $30 million ATM program to provide financial flexibility [8] Q&A Session Summary Question: What service lines are being positively impacted by the refracs? - Management indicated that all service lines, including completion tools, cementing, wireline, and coiled tubing, are positively impacted by refracs, with significant growth anticipated in this market [14] Question: Why is there confidence in relatively flat revenues and profitability despite rig count declines? - Management noted strong performance in the refrac business and improvements in cementing, which are helping to close gaps in revenue [15] Question: Any early indications of CapEx for Q3? - Management has not provided specific guidance on the split between quarters but has guided for the year [16] Question: How do you see the international side for completion tools impacting Q3? - International sales are included in the guidance, but they are expected to be lumpy; management is optimistic about future work [18] Question: Has pricing stabilized for cementing, wireline, and coiled tubing? - Management confirmed that pricing has stabilized, although there may be incremental pressures depending on commodity prices [19] Question: What percentage of refrac jobs are in the Eagle Ford and Bakken? - The majority of refrac jobs are in the Eagle Ford and Bakken, where there is significant Tier 1 acreage [21] Question: How can the company ramp up quickly when activity increases? - Management emphasized the importance of maintaining flexibility and not cutting into the company's capabilities, ensuring readiness for market recovery [22][24]

Revenue Performance - Revenues decreased by $29.0 million, or 18%, to $132.4 million for Q2 2024 compared to Q2 2023, primarily due to volume and pricing decreases driven by a reduction in the U.S. rig count[89] - Cementing revenue decreased by $12.3 million, or 21%, due to pricing decreases and an 8% job count decrease compared to Q2 2023[90] - Coiled tubing revenue decreased by $7.3 million, or 22%, driven by pricing decreases and a 10% decrease in total days worked compared to Q2 2023[90] - Tools revenue decreased by $6.4 million, or 17%, attributed to a 14% decrease in completion tools stages compared to Q2 2023[91] - Revenues decreased by $50.3 million, or 15%, to $274.5 million for the first six months of 2024, primarily due to volume and pricing decreases across all service lines[101] - Revenues for the three months ended June 30, 2024, were $132,401 thousand, a decline of 18.0% from $161,428 thousand in the same period of 2023[123] Profitability and Loss - Adjusted gross profit decreased by $13.6 million, or 40%, to $20.4 million for Q2 2024 compared to Q2 2023[89] - Net loss for Q2 2024 was $14.0 million, compared to a net loss of $2.5 million in Q2 2023, representing an increase in loss of 453%[89] - Adjusted gross profit decreased by $23.8 million, or 34%, to $46.5 million for the first six months of 2024 compared to the same period in 2023[103] - Net loss increased by $13.5 million, or 156%, to $22.1 million for the first six months of 2024[111] - Adjusted EBITDA decreased by $22.0 million, or 47%, to $24.8 million for the first six months of 2024[111] - Adjusted EBITDA for the three months ended June 30, 2024, was $9,735 thousand, down from $21,714 thousand in the same period of 2023, representing a decrease of approximately 55.2%[115] - Adjusted gross profit for the three months ended June 30, 2024, was $20,353 thousand, down from $33,986 thousand in the same period of 2023, reflecting a decrease of approximately 40.4%[123] Cost Management - Cost of revenues decreased by $15.4 million, or 12%, to $112.0 million for Q2 2024, primarily due to reduced activity in certain service lines[92] - Cost of revenues decreased by $26.5 million, or 10%, to $228.1 million for the first six months of 2024[102] - General and administrative expenses decreased by $9.2 million, or 27%, to $24.7 million for the first six months of 2024[103] - Depreciation expense decreased by $1.5 million, or 10%, to $13.3 million for the first six months of 2024[105] - Amortization of intangibles decreased by $0.2 million, or 3%, to $5.6 million for the first six months of 2024[106] - Non-operating expenses increased by $0.1 million, or 1%, to $24.8 million for the first six months of 2024[109] Market Conditions - The U.S. land rig count declined by over 40 rigs in the first half of 2024, following a decline of over 150 rigs from the end of 2022 to the end of 2023[87] - Natural gas prices averaged $2.10 in the first half of 2024, which is 17% lower than average prices in 2023, contributing to decreased activity and lower rig counts[86] - The company anticipates that revenue, net income (loss), and adjusted EBITDA for Q3 2024 will be relatively flat compared to Q2 2024, with cautious optimism for medium and long-term recovery in the energy sector[87] Liquidity and Capital Expenditure - As of June 30, 2024, the company had a total liquidity position of $50.8 million, consisting of $26.0 million in cash and cash equivalents and $24.8 million available under the ABL Credit Facility[127] - The company has reduced its planned capital expenditure budget for 2024 to between $10.0 million and $15.0 million to preserve liquidity amid market declines[126] - The company anticipates semiannual interest payments of $19.5 million on the 2028 Notes, which began on August 1, 2023[127] - As of June 30, 2024, the company had $52.0 million in borrowings under the ABL Credit Facility, with approximately $24.8 million available after accounting for outstanding letters of credit[139] Debt and Compliance - The 2028 Notes bear an annual interest rate of 13.000% and will mature on February 1, 2028, with interest payable semi-annually[132] - The company was in compliance with all covenants contained in the 2028 Notes Indenture and the ABL Credit Agreement as of June 30, 2024[134][138] - The company did not make an Excess Cash Flow Offer on May 15, 2024, as the Excess Cash Flow Amount was $0[133] Cash Flow Activities - Net cash provided by operating activities was $4.1 million for the first six months of 2024, a decrease of $27.0 million compared to $31.1 million in the same period of 2023, primarily due to an increased net loss[142] - Net cash used in investing activities was $8.1 million in the first six months of 2024, a decrease from $11.1 million in the same period of 2023, attributed to reduced cash purchases of property and equipment[143] - Net cash used in financing activities was $0.7 million in the first six months of 2024, compared to $3.9 million in net cash provided in the same period of 2023, largely due to the absence of proceeds from the Units offering and ABL Credit Facility[144] Growth Strategy - The company continues to evaluate potential acquisitions as part of its growth strategy, although it does not budget for them[125] - The company entered into an equity distribution agreement allowing the sale of up to $30.0 million in common stock, generating net proceeds of $6.8 million from the sale of 4,199,074 shares during the three months ended June 30, 2024[129] - The company completed a public offering of 300,000 units with an aggregate stated amount of $300.0 million, receiving proceeds of $279.8 million after deductions, which were used to redeem $307.3 million of 8.750% Senior Notes due 2023[130]

Financial Performance - Revenue for Q2 2024 was $132.4 million, with a net loss of $(14.0) million and adjusted EBITDA of $9.7 million[1] - The company reported a net loss of $14,041,000 for the three months ended June 30, 2024, compared to a net loss of $8,055,000 for the previous quarter, indicating a deterioration in performance[13] - Adjusted EBITDA for the quarter was $9,735,000, down from $15,034,000 in the prior quarter, representing a decline of 35.5%[14] - Revenues for the quarter were $132,401,000, a decrease from $142,120,000 in the previous quarter, reflecting a decline of 6.0%[16] - Gross profit decreased to $11,418,000 from $17,055,000, a decline of 33.3%[16] Liquidity and Capital Structure - Total liquidity as of June 30, 2024, was $50.8 million, consisting of $26.0 million in cash and cash equivalents and $24.8 million available under the revolving credit facility[5] - Cash and cash equivalents rose significantly to $26,027,000 from $10,237,000, marking an increase of 154.5%[13] - Total current liabilities increased to $82,963,000 from $73,854,000, an increase of 12.8%[12] - The company’s total liabilities rose to $431,437,000, up from $423,724,000, indicating a growth of 1.7%[12] Operational Highlights - The US rig count has declined significantly, with over 40 rigs exiting the market since the end of 2023, impacting revenue and earnings[2] - Cementing revenue decreased slightly in Q2 due to the rig decline, but historically recovers quickly with market improvements[3] - Coiled tubing revenue declined due to reduced activity levels in the Permian and Haynesville basins[3] - The average natural gas price was below $2.15 for the first half of 2024, leading to lower activity levels across all basins[3] - The company surpassed 300 total refrac jobs run to-date, establishing itself as a top provider in the US refrac market[3] Capital Expenditures - Capital expenditures for Q2 2024 totaled $2.5 million, with updated full-year capex guidance reduced to $10 - $15 million[5] Shareholder Activity - The company sold approximately 4.2 million shares under its equity offering program, generating about $6.8 million in net proceeds[6] Financial Metrics - Adjusted ROIC for the quarter was -1.5%, compared to 6.0% in the previous quarter, showing a significant decline[15] - Adjusted EBITDA is defined as EBITDA further adjusted for various charges and expenses, providing insights into the company's financial condition and operational performance[17] - Adjusted gross profit (loss) excludes depreciation and amortization, offering a clearer view of core operating performance[18] - Adjusted return on invested capital (adjusted ROIC) quantifies operating income relative to invested capital, aiding in capital resource allocation decisions[19]

Financial Data and Key Metrics Changes - Revenue for Q1 2024 was $142.1 million, within the guidance range of $135 million to $145 million, with adjusted EBITDA of $15 million and an adjusted EBITDA margin of 11% [25][34] - The company reported a net cash used in operating activities of $8.8 million, with a cash balance of $10.2 million as of March 31, 2024 [10][14] - Diluted earnings per share was negative $0.24 [25] Business Line Data and Key Metrics Changes - Coiled tubing days worked increased by over 41%, driving revenue growth of approximately 11% quarter-over-quarter, despite a 21% decrease in average blended day rate [31][8] - Cementing jobs completed decreased by approximately 3%, with cementing revenue at $48.3 million, down approximately 8% [12] - Wireline stages completed increased by approximately 14%, with wireline revenue flat at $27.9 million [30] Market Data and Key Metrics Changes - The average US rig count remained flat quarter-over-quarter, reflecting stability in the markets [4] - The company anticipates activity slowdowns in natural gas-levered basins due to declining natural gas prices below $2 [32][33] - Approximately 34% of Nine's revenue was generated from the Northeastern Haynesville in 2023, with expectations of a temporary slowdown in gas-related activity [33] Company Strategy and Development Direction - The company remains focused on diversifying revenue streams, particularly in completion tools and international markets, while maintaining an asset-light business model [35] - The company is optimistic about the continued adoption of dissolvable technology and plugs in both the US and international markets [9] - The strategy includes flexibility in capital expenditures, with a guidance range of $15 million to $25 million, adaptable based on market conditions [14][65] Management's Comments on Operating Environment and Future Outlook - Management noted that while the oil markets are stable, there is potential for additional rigs in the Permian if commodity prices remain supportive [17] - The company expects adjusted EBITDA and margins to decrease from Q1 levels due to pricing pressures in the cementing business [18] - Management remains positive on the medium and long-term outlook for the gas market despite short-term challenges [33] Other Important Information - The company has not sold any shares under the ATM program and did not generate excess cash flow in the last two fiscal quarters [29] - The company completed 943 cementing jobs and 28,074 stages for completion tools during the quarter [12][13] Q&A Session All Questions and Answers Question: Are you seeing stability in the spot pricing? - Management indicated that public companies are maintaining flat programs this year, with potential for some oil customers in the Northeast to increase rig activity later in the year [22] Question: Has the recent consolidation in the E&P industry impacted your business? - Management noted that consolidation has not had a negative impact and may streamline processes, leading to potential consistency in operations [21] Question: How do you see the refrac market opportunity? - Management expressed optimism about the refrac market, highlighting that they are one of the few companies in the US offering this solution and expect growth in this niche market [71]

Q1 2024 DISCLAIMER In addition to reporting financial results in accordance with GAAP, the Company has presented Adjusted EBITDA, Adjusted EBITDA margin, free cash flow, adjusted gross profit and return on invested capital (ROIC). These are not recognized measures under, or an alternative to, GAAP. The Company's management believes that this presentation provides useful information to management, analysts and investors regarding certain additional financial and business trends relating to its results of ope ...

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, 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: 001-38347 __________________________________________________________________ Nine Energy Service, ...

Exhibit 99.1 Nine Energy Service Announces First Quarter 2024 Results HOUSTON – Nine Energy Service, Inc. ("Nine" or the "Company") (NYSE: NINE) reported first quarter 2024 revenues of $142.1 million, net loss of $(8.1) million, or $(0.24) per diluted share and $(0.24) per basic share, and adjusted EBITDA of $15.0 million. The Company had provided original first quarter 2024 revenue guidance between $135.0 and $145.0 million, with actual results coming within the provided range. "Our business is nimble, and ...