Team(US:TISI)2025-08-13 16:00Financial Data and Key Metrics Changes - Revenue grew by 8.5% year over year, amounting to an increase of nearly $20 million [4][12] - Gross margin increased by 7.1%, reaching 27.5% for the quarter [4][12] - Adjusted EBITDA rose by 12.4% year over year, totaling $24.5 million [6][13] - Adjusted net loss improved to $900,000, a reduction of $1.1 million compared to the previous year [12] Business Segment Data and Key Metrics Changes - Inspection and Heat Treating segment saw a 15% overall revenue growth, with U.S. operations increasing by over 13% and Canada operations growing by 31% [5] - Mechanical Services segment revenue grew by 2%, driven by a 7% increase in U.S. operations, offsetting short-term weakness in international business [6] Market Data and Key Metrics Changes - Canadian operations demonstrated significant traction with a 31% year-over-year revenue growth [5] - The company is monitoring U.S. tariff policies and is identifying opportunities to improve supply chain and material sourcing [9] Company Strategy and Development Direction - The company is focused on driving revenue growth, maintaining strict cost discipline, and improving operational execution [6][10] - A new Executive Vice President, Chief Strategy and Transformation Officer has been appointed to lead transformation efforts [7] - The company aims for at least 15% year-over-year growth in adjusted EBITDA for the full year 2025 [10][16] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the company's ability to achieve further improvements in financial and operating performance, leading to growth and shareholder value [14][17] - The company expects continued strong operational and financial results in 2025, with year-over-year growth in the top line and improved performance from Canadian and international operations [15][16] Other Important Information - The company completed a refinancing transaction that lowered the blended interest rate by over 100 basis points and extended term loan maturities to 2030 [11] - Total liquidity increased to $49 million, consisting of $16.6 million in cash and $32.7 million in undrawn credit facilities [11] Q&A Session Summary - No specific questions or answers were provided in the content regarding the Q&A session.