Flotek(US:FTK)2025-05-06 20:06Financial Performance - Flotek reported total revenues of $55.4 million for Q1 2025, a 37% increase from $40.4 million in Q1 2024[1] - Gross profit for Q1 2025 was $12.4 million, up 41% from $8.8 million in Q1 2024, with a gross profit margin of 23%[1][4] - Net income reached $5.4 million in Q1 2025, a 244% increase compared to $1.6 million in Q1 2024, resulting in diluted earnings per share of $0.17[1][13] - Adjusted EBITDA for Q1 2025 was $7.8 million, representing a 93% increase from $4.0 million in Q1 2024[1][13] - Total revenues for Q1 2025 increased to $55,362,000, a 37.1% rise from $40,374,000 in Q1 2024[18] - Net income for Q1 2025 was $5,380,000, compared to $1,562,000 in Q1 2024, representing a 244.5% increase[18] - Gross profit for Q1 2025 reached $12,449,000, up 41.5% from $8,821,000 in Q1 2024[18] - Operating income for Q1 2025 was $5,567,000, a significant increase from $2,108,000 in Q1 2024, marking a 164.5% growth[18] - Adjusted EBITDA for Q1 2025 was $7,780,000, up from $4,026,000 in Q1 2024, indicating a 93.5% increase[22] - The company reported a basic income per common share of $0.18 for Q1 2025, compared to $0.05 in Q1 2024, a 260% increase[18] Revenue Expectations - Flotek expects total revenue for 2025 to be between $200 million and $220 million, reflecting a 12% increase compared to 2024[3][4] Operational Highlights - The company acquired 30 real-time gas monitoring and dual fuel optimization assets for mobile power generation, along with a $160 million multi-year contract[4] - External chemistry revenue increased by 88% and Data Analytics revenue rose by 57% in Q1 2025 compared to Q1 2024[4] - Selling, General and Administrative (SG&A) expenses were $6.3 million in Q1 2025, representing 11% of total revenues, down from 15% in Q1 2024[7] - Flotek has achieved five consecutive quarters of growth in revenue, gross profit, net income, and adjusted EBITDA[4][5] Cash Flow and Assets - Cash provided by operating activities for Q1 2025 was $7,313,000, compared to $3,887,000 in Q1 2024, reflecting an 88.5% increase[20] - Cash and cash equivalents at the end of Q1 2025 were $6,253,000, up from $5,219,000 at the end of Q1 2024, a 19.8% increase[20] - The company experienced a decrease in accounts receivable by $2,489,000 in Q1 2025, compared to an increase of $2,937,000 in Q1 2024[20] Research and Development - Research and development expenses for Q1 2025 were $355,000, slightly down from $406,000 in Q1 2024[18] Strategic Goals - The company aims to leverage innovative data and chemistry solutions to enhance customer value and drive future growth[5][6]