Nine Energy Service — Third Quarter 2026 Earnings Summary

Financial Performance:

• Reported third quarter 2026 revenues of $142.0 million, compared to $141.8 million in the second quarter of 2026.
• Reported a net loss of $5.1 million ($0.36 per basic and diluted share), compared to a net loss of $4.9 million ($0.35 per share) in the second quarter of 2026.
• Reported adjusted EBITDA of $8.3 million, compared to $8.6 million in the second quarter of 2026.
• Reported gross profit of $13.3 million and adjusted gross profit of $20.6 million for the quarter.
• General and administrative expenses were $16.5 million, and depreciation and amortization expenses were $7.4 million.
• Net cash provided by operating activities was $4.7 million.
• Capital expenditures totaled $2.8 million for the quarter.
• As of September 30, 2026, total liquidity was $46.0 million, consisting of $16.1 million in cash and cash equivalents and $29.9 million in availability under the revolving credit facility.
• Borrowings under the revolving credit facility were $98.7 million as of September 30, 2026.

Guidance and Future Outlook:

• Expects improvement in U.S. activity levels to continue into the fourth quarter of 2026.
• Expects fourth quarter 2026 revenue to be flat compared to the third quarter.
• Expects fourth quarter 2026 profitability to be modestly higher than the third quarter due to a shift in revenue mix toward higher-margin cementing and international tools businesses.
• Maintains full-year 2026 capital expenditures guidance of $20 to $30 million, expecting results near the midpoint.
• Anticipates the large-diameter coiled tubing unit, which was out of service during the third quarter, may return to service in December 2026.

Business Segments and Product Lines:

• Cementing revenue increased 11% quarter over quarter, driven by sustained customer demand, increased activity, and continued market share gains.
• Coiled Tubing faced continued operating constraints with one large-diameter unit remaining out of service during the quarter.
• International Completion Tools activity was lower in the third quarter compared to the second quarter, primarily due to the timing of orders.

Management Commentary and Tone:

• CEO Ann Fox stated that financial results benefited from improving U.S. activity and stronger Cementing performance, partially offset by Coiled Tubing constraints and lower international Completion Tools activity.
• Management expressed encouragement regarding Cementing trends, noting it historically serves as an early indicator of broader completion activity.
• Management emphasized a continued focus on operational execution, technology development, and cost discipline.
• Management noted that the pace of customer activity, the timing of the coiled tubing unit's return, and the mix of product and service activity will continue to influence near-term performance.

Other Key Points:

• The Company emerged from bankruptcy on March 5, 2026, applying fresh start accounting which established a new basis of accounting and a new entity for financial reporting purposes.
• Predecessor and Successor financial information are not comparable due to the application of fresh start accounting.
• The Company held a conference call on November 10, 2026, to discuss results.
• The Company operates in multiple North American basins including the Permian, Eagle Ford, Haynesville, SCOOP/STACK, Niobrara, Barnett, Bakken, Marcellus, Utica, and Canada.