Revenue Performance - Total revenue for Q1 2025 increased by 12% to $41.4 million compared to $36.9 million in Q1 2024, driven by higher rental revenues [10] - Rental revenue reached $38.9 million in Q1 2025, representing a 15% year-over-year increase and a 2% sequential increase [6] - Total revenue for Q1 2025 was $41,383,000, an increase of 12.0% from $36,907,000 in Q1 2024 [36] Profitability Metrics - Adjusted EBITDA for Q1 2025 was $19.3 million, a 14% increase year-over-year and a 7% increase sequentially [15] - Net income for Q1 2025 was $4.9 million, or $0.38 per diluted share, compared to $5.1 million, or $0.41 per diluted share, in Q1 2024 [13] - Operating income for Q1 2025 was $9,507,000, slightly up from $9,319,000 in Q1 2024, reflecting a 2.0% increase [36] - Net income for Q1 2025 decreased to $4,854,000, down 4.8% from $5,098,000 in Q1 2024 [36] - Earnings per share (diluted) for Q1 2025 was $0.38, down from $0.41 in Q1 2024 [36] Cash Flow and Expenses - Cash flows from operating activities for Q1 2025 were $21.3 million, significantly higher than $5.6 million in the same period of 2024 [14] - Cash provided by operating activities significantly increased to $21,267,000 in Q1 2025, compared to $5,609,000 in Q1 2024 [38] - Total cost of revenues for Q1 2025 was $17,127,000, up 8.4% from $15,794,000 in Q1 2024 [36] - Selling, general and administrative expenses rose to $5,378,000 in Q1 2025, an increase of 14.4% from $4,702,000 in Q1 2024 [36] - The company incurred interest expense of $3,170,000 in Q1 2025, compared to $2,935,000 in Q1 2024, reflecting an increase of 8.0% [36] Guidance and Future Outlook - The company raised its full-year 2025 Adjusted EBITDA guidance to a range of $74 million to $79 million, reflecting strong business momentum [4] - The company anticipates growth capital expenditures of $95 million to $120 million for 2025, primarily for new units under contract [5] - The company is focused on capitalizing on opportunities in the compression industry, with forward-looking statements regarding EBITDA growth and capital expenditures [29] Asset and Liability Management - Total assets increased to $501,691,000 as of March 31, 2025, up from $492,528,000 at the end of 2024 [34] - Current liabilities rose to $22,445,000 as of March 31, 2025, compared to $17,358,000 at the end of 2024, indicating increased short-term obligations [34] - The company reported a retained earnings increase to $156,362,000 as of March 31, 2025, up from $151,508,000 at the end of 2024 [34] Strategic Focus - The company is focused on fleet optimization, asset utilization, and potential mergers and acquisitions to drive growth [9] - The rented horsepower fleet is expected to increase by approximately 90,000 horsepower, an 18% increase compared to year-end 2024 [5] Risks and Challenges - The company acknowledges risks including oil and gas price volatility and competition, which could impact future performance [30] Conference Call Announcement - The company plans to host a conference call on May 13, 2025, to discuss fourth-quarter and year-end financial results, indicating ongoing transparency with investors [26]
Natural Gas Services (NGS) - 2025 Q1 - Quarterly Results