Expro(US:XPRO)2026-02-19 11:50Financial Performance - The Company reported total revenue of $1,607 million for the full year 2025, with a net income of $52 million and an Adjusted EBITDA margin of 22.0%[8]. - Total revenue for the year ended December 31, 2025, was $1,607,095, compared to $1,712,802 in 2024, indicating a decline of about 6%[55]. - Total revenue for the three months ended December 31, 2025, was $382.1 million, a decrease of 8.3% from $411.4 million in the previous quarter[49]. - Net income for the three months ended December 31, 2025, was $5.8 million, compared to $14.0 million in the previous quarter, reflecting a decline of 58.6%[49]. - Net income for the year ended December 31, 2025, was $51,686, a slight decrease from $51,918 in 2024[53]. - Adjusted net income for the year ended December 31, 2025, was $115,343,000, compared to $111,183,000 in the previous year[66]. - Operating income for the same period was $11.8 million, down 55.5% from $26.5 million in the prior quarter[49]. - Gross profit for the year ended December 31, 2025, was $192,384, down from $216,276 in 2024, indicating a decrease of about 11%[61]. Cash Flow and Liquidity - Expro generated $127 million of Adjusted free cash flow in 2025, more than doubling the amount from the prior year[4]. - Net cash provided by operating activities increased to $210,172 in 2025, up from $169,479 in 2024, representing a growth of approximately 24%[53]. - Cash and cash equivalents increased to $196.1 million as of December 31, 2025, from $183.0 million a year earlier[51]. - Cash and cash equivalents at the end of the year increased to $197,473 from $184,663 at the beginning of the year[53]. - Free cash flow for the three months ended December 31, 2025, was $23,196,000, with a free cash flow margin of 6%[64]. - The Company plans to utilize at least 33% of the free cash flow generated in 2026 for capital returns to shareholders[15]. - As of December 31, 2025, Expro's total liquidity was $551 million, including $353 million available for drawdowns under its revolving credit facility[18]. Capital Expenditures - Expro's capital expenditures for 2025 totaled $112 million, with a focus on customer-related activities[19]. - Capital expenditures for the year ended December 31, 2025, were $112,387,000, down from $143,576,000 in the previous year[64]. - The Company repurchased $40 million of stock in 2025, achieving its annual repurchase target[5]. Order Backlog and Future Expectations - Expro's total order backlog stood at $2.5 billion as of December 31, 2025, providing strong revenue visibility for 2026[7]. - For 2026, Expro expects Adjusted EBITDA of $355 million to $375 million and Adjusted free cash flow of $125 million to $145 million[7]. - The Company anticipates a revenue range of $1,600 million to $1,650 million for the full year 2026[15]. Employee and Market Presence - The company has approximately 8,500 employees and operates in over 50 countries, indicating a broad market presence[36]. Segment Performance - Segment EBITDA for NLA was $132,931 with a margin of 24% for the year ended December 31, 2025, compared to 25% in 2024[59]. - Adjusted EBITDA for the year ended December 31, 2025, was $353,024, reflecting an increase from $347,403 in 2024, with a margin of 22%[59]. - Adjusted EBITDA for the three months ended December 31, 2025, was $88,373,000, maintaining an adjusted EBITDA margin of 23%[64]. Assets and Liabilities - Total assets decreased to $2.26 billion as of December 31, 2025, down from $2.33 billion a year earlier[51]. - Total liabilities decreased to $725.3 million as of December 31, 2025, compared to $842.1 million in the previous year[51]. Miscellaneous - The company reported a stock-based compensation expense of $29,172,000 for the year ended December 31, 2025[66]. - The diluted weighted average shares outstanding for the year ended December 31, 2025, were 115,749,247[67]. - Forward-looking statements indicate expectations for growth and cash flows, but actual results may differ due to various risks and uncertainties[39][40].