Nine Energy Service Inc. (NINE) Financial Statements (2024 and earlier)

Company Profile

Business Address 2001 KIRBY DRIVE
HOUSTON, TX 77019
State of Incorp. DE
Fiscal Year End December 31
Industry (SIC) 1389 - Oil and Gas Field Services, Not Elsewhere Classified (benchmarking)
More info Complete Financial Analysis Financial Benchmarking

Balance Sheet (Statement of Financial Position) ($ in thousands)

3/31/2024
MRQ
12/31/2023
12/31/2022
12/31/2021
12/31/2020
12/31/2019
12/31/2018
ASSETS
Current Assets
Cash, cash equivalents, and short-term investments30,84017,44521,50968,86492,98963,615
Cash and cash equivalents30,84017,44521,50968,86492,98963,615
Receivables88,939106,01865,41842,62797,549154,783
Inventory, net of allowances, customer advances and progress billings54,48662,04542,18038,40260,94591,435
Inventory54,48662,04542,18038,40260,94591,435
Other undisclosed current assets9,36811,21710,19516,27017,43423,343
Total current assets:183,633196,725139,302166,163268,917333,176
Noncurrent Assets
Finance lease, right-of-use asset, after accumulated amortization515471,4451,816 
Operating lease, right-of-use asset42,05636,33635,11736,360 
Property, plant and equipment82,36689,71786,958102,429128,604211,644
Intangible assets, net (including goodwill)90,429101,945116,408132,524445,187589,966
Goodwill     296,196307,804
Intangible assets, net (excluding goodwill)90,429101,945116,408132,524148,991282,162
Other noncurrent assets3,4491,5642,3833,3088,1876,386
Total noncurrent assets:218,351230,109242,311276,437581,978807,996
TOTAL ASSETS:401,984426,834381,613442,600850,8951,141,172
LIABILITIES AND EQUITY
Liabilities
Current Liabilities
Accounts payable and accrued liabilities69,55070,60247,19935,27960,220107,623
Taxes payable   57
Accounts payable33,37942,21128,68018,14035,49046,132
Accrued liabilities36,17128,39118,51917,13924,73061,434
Debt2,8902,4453,1631,936 665
Other undisclosed current liabilities10,3147,9566,0916,200995 
Total current liabilities:82,75481,00356,45343,41561,215108,288
Noncurrent Liabilities
Long-term debt and lease obligation320,520338,031362,814376,118394,260424,978
Long-term debt, excluding current maturities320,520338,031332,314342,714392,059424,978
Finance lease, liability   651,109 
Liabilities, other than long-term debt34,34031,3071,6132,6583,95510,753
Deferred tax liabilities, net5,915
Other liabilities1,7461,9371,6132,6583,9554,838
Operating lease, liability32,59429,37030,43532,2952,201
Other undisclosed noncurrent liabilities     1,5882,330
Total noncurrent liabilities:354,860369,338364,427378,776399,803438,061
Total liabilities:437,614450,341420,880422,191461,018546,349
Equity
Equity, attributable to parent(35,630)(23,507)(39,267)20,409389,877594,823
Common stock353332328316306302
Additional paid in capital795,106775,006773,350768,429758,853746,428
Accumulated other comprehensive loss(4,859)(4,828)(4,535)(4,501)(4,467)(4,843)
Accumulated deficit(826,230)(794,017)(808,410)(743,835)(364,815)(147,064)
Total equity:(35,630)(23,507)(39,267)20,409389,877594,823
TOTAL LIABILITIES AND EQUITY:401,984426,834381,613442,600850,8951,141,172

Income Statement (P&L) ($ in thousands)

3/31/2024
TTM
12/31/2023
12/31/2022
12/31/2021
12/31/2020
12/31/2019
12/31/2018
Revenues609,526593,382349,419310,851832,937827,174
Cost of revenue(29,141)(26,784)(28,905)(302,157)(669,979)(639,298)
Cost of goods and services sold(29,141)(26,784)(28,905)(41,388)(55,692)(844)
Gross profit:580,385566,598320,5148,694162,958187,876
Operating expenses(71,625)(65,483)(62,077)(359,152)(316,329)(161,565)
Other undisclosed operating loss(491,187)(457,547)(308,452)(32,707)(29,357)(54,604)
Operating income (loss):17,57343,568(50,015)(383,165)(182,728)(28,293)
Nonoperating income (expense)1,27030526615860(22,315)
Investment income, nonoperating1,27030526615860 
Interest and debt expense(51,119)2,84317,61837,841(38,910)(31,115)
Income (loss) from continuing operations before equity method investments, income taxes:(32,276)46,716(32,371)(344,709)(220,778)(81,723)
Other undisclosed income (loss) from continuing operations before income taxes648(31,777)(32,229)(36,697)(860)31,115
Income (loss) from continuing operations before income taxes:(31,628)14,939(64,600)(381,406)(221,638)(50,608)
Income tax expense (benefit)(585)(546)252,4583,887(2,375)
Income (loss) from continuing operations:(32,213)14,393(64,575)(378,948)(217,751)(52,983)
Loss before gain (loss) on sale of properties:(64,575)(378,948)(217,751)(52,983)
Net income (loss) available to common stockholders, diluted:(32,213)14,393(64,575)(378,948)(217,751)(52,983)

Comprehensive Income ($ in thousands)

3/31/2024
TTM
12/31/2023
12/31/2022
12/31/2021
12/31/2020
12/31/2019
12/31/2018
Net income (loss):(32,213)14,393(64,575)(378,948)(217,751)(52,983)
Comprehensive income (loss):(32,213)14,393(64,575)(378,948)(217,751)(52,983)
Other undisclosed comprehensive income (loss), net of tax, attributable to parent(31)(293)(34)(34)376(1,159)
Comprehensive income (loss), net of tax, attributable to parent:(32,244)14,100(64,609)(378,982)(217,375)(54,142)

Statements Sources

The financial statements are based on the Company's filings with the U.S. Securities and Exchange Commission (SEC) through the Electronic Data Gathering, Analysis, and Retrieval system (EDGAR). The information is derived from the 10-K and 10-Q reports submitted to the SEC in XBRL (eXtensible Business Reporting Language) format and presented according to the US GAAP Taxonomy. Please review the original filings for a more detailed information.

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