<span item_type="fundamental" item_id="997b01ee82f6f497d35a7ebb4c2c5fc3" counter_id="ST/US/NCSM" env="prod"></span><span item_type="announcement" item_id="643053492697302529" env="prod"></span><p>Revenue: As of FY2026 Q1, the actual value is USD 45.64 M, missing the estimate of USD 51 M.</p><p>EPS: As of FY2026 Q1, the actual value is USD -0.14, missing the estimate of USD 1.58.</p><p>EBIT: As of FY2026 Q1, the actual value is USD 874 K.</p><p></p><h4>Total Revenues</h4><p>NCS Multistage Holdings, Inc. reported total revenues of $45.6 million for the first quarter of 2026, a decrease compared to $50.0 million in the same quarter of 2025.<span class="superscript" item_id="0" item_type="announcement_file" value="1" url="https://www.sec.gov/Archives/edgar/data/1692427/000143774926013883/ex_930616.htm"></span> This decline was primarily due to lower revenues in Canada and decreased service revenue in international markets, partially offset by increased U.S. revenues, including a $1.8 million contribution from ResMetrics.<span class="superscript" item_id="0" item_type="announcement_file" value="1" url="https://www.sec.gov/Archives/edgar/data/1692427/000143774926013883/ex_930616.htm"></span> Compared to the fourth quarter of 2025, total revenues decreased by 10%, with Canada declining 17% and international revenues decreasing 30%, while U.S. revenues increased by 6%.<span class="superscript" item_id="0" item_type="announcement_file" value="1" url="https://www.sec.gov/Archives/edgar/data/1692427/000143774926013883/ex_930616.htm"></span></p><h4>Revenues by Geographic Area</h4><ul><li><strong>United States:</strong> Total revenues were $19,140 thousand in Q1 2026, up from $9,372 thousand in Q1 2025.<span class="superscript" item_id="0" item_type="announcement_file" value="1" url="https://www.sec.gov/Archives/edgar/data/1692427/000143774926013883/ex_930616.htm"></span> Product sales increased to $14,209 thousand from $6,867 thousand, and services increased to $4,931 thousand from $2,505 thousand.<span class="superscript" item_id="0" item_type="announcement_file" value="1" url="https://www.sec.gov/Archives/edgar/data/1692427/000143774926013883/ex_930616.htm"></span></li><li><strong>Canada:</strong> Total revenues were $23,211 thousand in Q1 2026, down from $37,718 thousand in Q1 2025.<span class="superscript" item_id="0" item_type="announcement_file" value="1" url="https://www.sec.gov/Archives/edgar/data/1692427/000143774926013883/ex_930616.htm"></span> Product sales decreased to $16,164 thousand from $26,843 thousand, and services decreased to $7,047 thousand from $10,875 thousand.<span class="superscript" item_id="0" item_type="announcement_file" value="1" url="https://www.sec.gov/Archives/edgar/data/1692427/000143774926013883/ex_930616.htm"></span></li><li><strong>Other Countries:</strong> Total revenues were $3,286 thousand in Q1 2026, up from $2,915 thousand in Q1 2025.<span class="superscript" item_id="0" item_type="announcement_file" value="1" url="https://www.sec.gov/Archives/edgar/data/1692427/000143774926013883/ex_930616.htm"></span> Product sales increased to $2,210 thousand from $1,356 thousand, while services decreased to $1,076 thousand from $1,559 thousand.<span class="superscript" item_id="0" item_type="announcement_file" value="1" url="https://www.sec.gov/Archives/edgar/data/1692427/000143774926013883/ex_930616.htm"></span></li></ul><h4>Net Income/Loss</h4><p>The company reported a net loss of - $0.4 million for the first quarter of 2026, compared to a net income of $4.1 million in the same quarter of 2025.<span class="superscript" item_id="0" item_type="announcement_file" value="1" url="https://www.sec.gov/Archives/edgar/data/1692427/000143774926013883/ex_930616.htm"></span> Net loss attributable to NCS Multistage Holdings, Inc. was - $0.371 million for Q1 2026, versus net income of $4.056 million for Q1 2025.<span class="superscript" item_id="0" item_type="announcement_file" value="1" url="https://www.sec.gov/Archives/edgar/data/1692427/000143774926013883/ex_930616.htm"></span></p><h4>Gross Profit and Margin</h4><p>Gross profit was $17.4 million, with a gross margin of 38%, for the first quarter of 2026, down from $21.1 million and a 42% gross margin in the first quarter of 2025.<span class="superscript" item_id="0" item_type="announcement_file" value="1" url="https://www.sec.gov/Archives/edgar/data/1692427/000143774926013883/ex_930616.htm"></span> Adjusted gross profit was $18.2 million, with an adjusted gross margin of 40%, for Q1 2026, compared to $21.9 million and 44% for Q1 2025.<span class="superscript" item_id="0" item_type="announcement_file" value="1" url="https://www.sec.gov/Archives/edgar/data/1692427/000143774926013883/ex_930616.htm"></span></p><h4>Operating Costs</h4><p>Selling, general and administrative (SG&amp;A) expenses totaled $15.7 million for the first quarter of 2026, a decrease of $0.5 million compared to $16.2 million in the same period of 2025.<span class="superscript" item_id="0" item_type="announcement_file" value="1" url="https://www.sec.gov/Archives/edgar/data/1692427/000143774926013883/ex_930616.htm"></span> Income from operations was $0.848 million for Q1 2026, compared to $4.289 million for Q1 2025.<span class="superscript" item_id="0" item_type="announcement_file" value="1" url="https://www.sec.gov/Archives/edgar/data/1692427/000143774926013883/ex_930616.htm"></span></p><h4>Other Income</h4><p>Other income was $1.9 million for the first quarter of 2026, an increase from $0.9 million in the first quarter of 2025.<span class="superscript" item_id="0" item_type="announcement_file" value="1" url="https://www.sec.gov/Archives/edgar/data/1692427/000143774926013883/ex_930616.htm"></span></p><h4>Income Tax Expense</h4><p>Income tax expense for the first quarter of 2026 increased by $0.2 million compared to the same period in 2025.<span class="superscript" item_id="0" item_type="announcement_file" value="1" url="https://www.sec.gov/Archives/edgar/data/1692427/000143774926013883/ex_930616.htm"></span></p><h4>Adjusted EBITDA</h4><p>Adjusted EBITDA was $5.6 million for the first quarter of 2026, a decrease of $2.6 million from $8.2 million in the prior-year period.<span class="superscript" item_id="0" item_type="announcement_file" value="1" url="https://www.sec.gov/Archives/edgar/data/1692427/000143774926013883/ex_930616.htm"></span> The Adjusted EBITDA margin was 12% for Q1 2026, down from 16% for Q1 2025.<span class="superscript" item_id="0" item_type="announcement_file" value="1" url="https://www.sec.gov/Archives/edgar/data/1692427/000143774926013883/ex_930616.htm"></span></p><h4>Cash Flow</h4><p>Cash flows from operating activities were $1.3 million for the three months ended March 31, 2026, an increase from - $1.6 million in the same period of 2025.<span class="superscript" item_id="0" item_type="announcement_file" value="1" url="https://www.sec.gov/Archives/edgar/data/1692427/000143774926013883/ex_930616.htm"></span> Free cash flow less distributions to non-controlling interest was $0.7 million for Q1 2026, compared to - $2.1 million for Q1 2025.<span class="superscript" item_id="0" item_type="announcement_file" value="1" url="https://www.sec.gov/Archives/edgar/data/1692427/000143774926013883/ex_930616.htm"></span></p><h4>Liquidity and Capital Expenditures</h4><p>As of March 31, 2026, NCS Multistage Holdings, Inc. had $34.5 million in cash and $7.2 million in total indebtedness related to finance lease obligations.<span class="superscript" item_id="0" item_type="announcement_file" value="1" url="https://www.sec.gov/Archives/edgar/data/1692427/000143774926013883/ex_930616.htm"></span> The company had an undrawn asset-based revolving credit facility with a borrowing base of $18.5 million.<span class="superscript" item_id="0" item_type="announcement_file" value="1" url="https://www.sec.gov/Archives/edgar/data/1692427/000143774926013883/ex_930616.htm"></span> Working capital was $95.1 million as of March 31, 2026, compared to $93.4 million as of December 31, 2025.<span class="superscript" item_id="0" item_type="announcement_file" value="1" url="https://www.sec.gov/Archives/edgar/data/1692427/000143774926013883/ex_930616.htm"></span> Net working capital increased to $62.9 million from $59.1 million over the same period.<span class="superscript" item_id="0" item_type="announcement_file" value="1" url="https://www.sec.gov/Archives/edgar/data/1692427/000143774926013883/ex_930616.htm"></span> Capital expenditures, net of proceeds from asset sales, were $0.6 million for the three months ended March 31, 2026, up from $0.5 million in the prior year.<span class="superscript" item_id="0" item_type="announcement_file" value="1" url="https://www.sec.gov/Archives/edgar/data/1692427/000143774926013883/ex_930616.htm"></span></p><h4>Outlook</h4><p>NCS Multistage Holdings, Inc. maintains its full year 2026 outlook, anticipating increased customer engagement in U.S. completions offerings and continued success with Repeat Precision.<span class="superscript" item_id="0" item_type="announcement_file" value="1" url="https://www.sec.gov/Archives/edgar/data/1692427/000143774926013883/ex_930616.htm"></span> The company expects a large multi-well fracturing systems project in the U.S. with sliding sleeve deliveries starting in the second half of the year.<span class="superscript" item_id="0" item_type="announcement_file" value="1" url="https://www.sec.gov/Archives/edgar/data/1692427/000143774926013883/ex_930616.htm"></span> A modest year-over-year increase in Canadian customer activity and continued growth opportunities in international and offshore markets are also projected for the second half of 2026.<span class="superscript" item_id="0" item_type="announcement_file" value="1" url="https://www.sec.gov/Archives/edgar/data/1692427/000143774926013883/ex_930616.htm"></span></p>

NCS Multistage | 8-K: FY2026 Q1 Revenue Misses Estimate at USD 45.64 M