Financial Data and Key Metrics Changes - Core Laboratories Inc. reported third quarter 2025 revenue of $134.5 million, an increase of over 3% compared to Q2 2025 and flat year over year [11] - Operating income for the quarter was $16.6 million, up from $14.5 million in Q2, yielding an EBIT margin of over 12% [14] - Net income excluding items was $10.2 million, a sequential increase of over 15% but down almost 14% from the same quarter last year [16] Business Line Data and Key Metrics Changes - Reservoir description revenue was $88.2 million, up over 2% compared to Q2, with operating margins at 13% [31] - Production enhancement revenue reached $46.3 million, a 6% increase from Q2, with operating margins improving to 11% from 9% [35] Market Data and Key Metrics Changes - International service revenue was $101.1 million, up 5% sequentially and over 2% year over year, while U.S. service revenue remained flat sequentially and down almost 4% year over year [11] - Product sales were $33.4 million, down slightly from the previous quarter and down 6% year over year, primarily due to lower completion activity in the U.S. onshore market [12] Company Strategy and Development Direction - The company continues to focus on technology investments to solve client problems and capitalize on technical and geographic opportunities [6] - Core Laboratories Inc. aims to maximize free cash flow, return on invested capital, and return excess free cash to shareholders [10] Management's Comments on Operating Environment and Future Outlook - Management maintains a constructive outlook despite potential tariff headwinds and market volatility, projecting growth in crude oil demand driven by non-OECD countries [21][23] - The company anticipates a slight sequential decline in U.S. onshore completion activity but expects growth in international and offshore markets to offset this decline [24] Other Important Information - The company repurchased over 462,000 shares during the third quarter, representing approximately 1% of outstanding shares [8] - Capital expenditures for operations are expected to be in the range of $11 million to $13 million for the full year 2025 [19] Q&A Session Summary Question: Opportunities for similar-sized transactions globally - Management discussed the potential for similar tuck-in technology acquisitions, emphasizing the benefits of structuring deals with earnouts to align interests [39][40] Question: Customer activity outlook in Asia Pacific - Management indicated that customers foresee higher activity levels, particularly in the Middle East and West Africa, with increasing exploration programs in Asia Pacific [43][44]