NCS Multistage reported second-quarter 2026 total revenues of $38.4 million and a net loss attributable to NCS Multistage of $(4.6) million, or $(1.71) per diluted share. Adjusted EBITDA for the quarter was $1.9 million, while gross profit was $13.1 million (34% gross margin). The company reiterated progress on its pending merger with Weatherford and highlighted operational momentum in Repeat Precision and U.S. tracer diagnostics.
Financial Highlights
- Total revenues: $38.4 million for the quarter ended June 30, 2026 (compared to $36.5 million in Q2 2025).
- Gross profit: $13.1 million and gross margin of 34% for Q2 2026.
- Operating (loss) income: loss from operations of $(5.6) million for Q2 2026.
- Net (loss) income attributable to NCS Multistage: $(4.6) million, or $(1.71) per diluted share, for Q2 2026 (versus net income of $0.9 million, $0.34 diluted EPS, in Q2 2025).
- Adjusted EBITDA: $1.9 million for Q2 2026 (Adjusted EBITDA margin of 5%).
Business Highlights
- U.S. performance driven by Repeat Precision growth and commercial rollout of new products, contributing a $6.1 million increase in U.S. product sales year-over-year.
- Services revenue benefited from ResMetrics (acquired July 2025), which contributed $2.3 million in services revenue in Q2 2026.
- Canada experienced lower fracturing systems activity due in part to customer project delays and consolidation, and a prior-year large sliding-sleeve sale did not recur.
- International product sales remained consistent year-over-year, with project-specific international revenues increasing sequentially versus Q1 2026.
- Company continues integration and strategic planning in advance of the pending merger with Weatherford, with a majority stockholder having approved the transaction by written consent.
Original SEC Filing:
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