Financial Performance & Metrics - As of July 29, 2025, the share price was $30.25, with 2.7 million diluted shares outstanding, resulting in an equity value of $82.7 million[10] - The company's enterprise value is $82.5 million, calculated with $7.7 million in total debt, $17.5 million in non-controlling interest, and $25.4 million in cash[10] - The company has a strong cash position, with net debt (cash) at $(17.7) million and net working capital of $64.0 million[10] - Q2 2025 total revenue reached $36.5 million, a 23% increase compared to Q2 2024[53] - The company's adjusted EBITDA for Q2 2025 was $2.2 million, a $1.3 million increase compared to Q2 2024[53] - The company anticipates full year 2025 revenue to be between $168 million and $176 million, representing a 6% year-over-year increase at the midpoint[57] - The company projects adjusted EBITDA for full year 2025 to be between $21 million and $24 million[57] Strategic Initiatives & Acquisitions - NCS acquired ResMetrics in July 2025 for up to $7.15 million, with $5.90 million in cash and assumed debt at close, and an earnout of up to $1.25 million[29, 42] - ResMetrics is expected to contribute $4 million to $5 million in revenue to NCS in 2025 (August through December)[42] Market Expansion & Diversification - NCS has expanded its addressable market, with revenue increasing from $98 million in 2016 to $163 million in 2024[38] - The customer base has grown from over 140 customers in 2016 to over 200 customers in 2024[38]