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NCS Multistage Holdings Inc. (NCSM) has submitted its 10-K filing for the fiscal year ended December 31, 2024.
The filing includes financial statements for the year, showing an increase in revenues to $162.6 million from $142.5 million in the previous year. This growth was driven by higher international and Canadian sales, as well as increased U.S. product sales.
Cost of sales was $97.8 million, representing 60.1% of revenues, compared to 62.5% in the previous year. The decrease in cost ratio was primarily due to higher-margin international work and operational restructuring benefits.
Selling, general, and administrative expenses increased slightly to $57.8 million from $56.5 million, reflecting higher annual incentive bonus accruals.
Net income for the year was $8.1 million, compared to a net loss of $3.1 million in the previous year. The improvement was attributed to increased revenues and operational efficiencies.
NCS reported a gross margin of 39.9%, up from 37.5% in the prior year, driven by a favorable mix of higher-margin international sales.
The company highlighted its liquidity position with cash and cash equivalents of $25.9 million and no outstanding borrowings under its $35.0 million ABL Facility.
NCS Multistage Holdings does not anticipate paying cash dividends on its common stock in the near future.
The filing also notes ongoing litigation matters, including patent disputes in Canada and the U.S., which could impact future financial results.
NCS continues to focus on expanding its market share in the U.S. and international markets, emphasizing its fracturing systems and enhanced recovery systems products.
This content was summarized by generative artificial intelligence using public filings retrieved from SEC.gov. The original data was derived from the NCS Multistage Holdings Inc. annual 10-K report dated March 10, 2025. To report an error, please email earnings@qz.com.