From GlobeNewswire: 2025-03-10 16:15:00

NCS Multistage Holdings, Inc. reported fourth-quarter revenues of $45.0 million, a 28% increase year-over-year. Net income was $3.5 million with earnings per share of $1.32. Adjusted EBITDA was $8.2 million, compared to $2.5 million in the previous year. The company had $25.9 million in cash and $8.1 million in debt as of December 31, 2024.

For the full year, total revenues were $162.6 million, a 14% improvement over 2023. Gross margin improved to 40%, with adjusted EBITDA reaching $22.3 million. Cash flows from operating activities were $12.7 million, with free cash flow after distributions to non-controlling interest at $9.9 million.

CEO Ryan Hummer highlighted the company’s success in 2024, with revenue increasing by over $20 million. NCS achieved record international revenues of $16.5 million, reflecting a strategy to expand into new markets. Adjusted EBITDA improved by over 85%, resulting in net income of $6.6 million.

Looking ahead to 2025, NCS anticipates outperforming industry growth in Canada, the U.S., and international markets. Despite varying regional trends, the company expects positive performance. Revenue may be impacted by currency fluctuations, trade actions, and industry spending levels.

Financially, NCS had $25.9 million in cash and $8.1 million in debt as of December 31, 2024. Working capital was $80.2 million, with net working capital at $56.4 million. The company incurred capital expenditures of $0.8 million for the year.

Adjusted EBITDA, a key metric for NCS, was $8.2 million in the fourth quarter, with an 18% margin. Adjusted EBITDA less share-based compensation was $7.5 million. Free cash flow for the year was $11.9 million, with $9.9 million remaining after distributions to non-controlling interest. These metrics demonstrate the company’s financial strength and performance.



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