Nine(US:NINE)2022-11-07 17:28Company Overview - Nine's business model is asset, emissions, and labor-light, leading to greater cash generation[9] - Approximately 62% of the business is driven by technology-based segments, specifically completion tools and cementing[9] - The company is experiencing growth in its ESG technology offerings[9] Financial Performance - The annualized quarterly revenue run rate for Q3 2022 reached $670 million, representing a 43% increase[13] - Adjusted EBITDA for Q3 2022 was $130 million, a 165% increase[13] - Cementing revenue increased by approximately 16% quarter-over-quarter, driven by pricing increases of approximately 18%[65] Market Share and Activity - Cementing jobs completed saw a 199% increase from Q3 2020 to Q3 2022[23] - Coiled tubing days worked increased by 186% from Q3 2020 to Q3 2022[25] - Wireline stages completed increased by 85% from Q3 2020 to Q3 2022[25] Technology and Innovation - The total number of dissolvable stages run in the US is estimated to increase by over 295% in 2023 versus 2018[48] - Nine holds approximately 22% of the US dissolvable plug market share[49] - Dissolvable pumpdown rings have been shown to reduce horsepower requirements by approximately 48%, water usage by approximately 28%, and diesel fuel usage by approximately 42%[58]