Flotek Industries Inc【FTK】株式ニュース

Flotek Reports Record Data Analytics Revenue and Strong First Quarter ResultsMay 5, 2026 4:08 PM
PR Newswire (US) HOUSTON, May 5, 2026 /PRNewswire/ -- Flotek Industries, Inc. ("Flotek" or the "Company") (NYSE: FTK) today announced operational and financial results for the quarter ended March 31, 2026. The Company also provided 2026 guidance that reinforces its multi-year track record of transformational revenue and profitability growth. A summary of key financial metrics compared to the prior-year quarter is as follows (in thousands, except 'per share' amounts):

Three Months Ended March 31,

2026
2025
% Change

Total Revenues
$    70,051
$    55,362
27 %Gross Profit
$    15,541
$    12,449
25 %Net Income
$      4,664
$      5,380
(13) %Diluted Income Per Share
$ 0.12
$ 0.17
(29) %Adjusted EBITDA (1)
$      9,093
$      6,298
44 %First Quarter 2026 HighlightsTotal revenue grew 27% as compared to the first quarter of 2025 highlighted by 295% growth in Data Analytics revenue.Chemistry Technologies revenue rose 13% to its highest quarterly level in over 7 years.Data Analytics achieved its highest-ever quarterly revenue.Data Analytics accounted for 50% of total gross profit versus 8% in the prior-year quarter.In late March, equipment mobilization commenced in connection with the Company's recently announced power services contract.XSPCT Named 2026 Product of the YearThe XSPCT™ was recognized by the Analyzer Technology Conference, the premier technical event dedicated to analysis and measurement in the chemical processing industry, for its breakthrough innovation, performance, and real-world impact in process analytics. In upstream applications, the XSPCT™ enables digital sampling by delivering continuous, real-time compositional analysis directly in line with the process stream eliminating the delays, costs, and inaccuracies of traditional Gas Chromatography sampling and laboratory methods. As operators increasingly demand faster, more reliable, and actionable data, the XSPCT™ delivers the accuracy and responsiveness required in today's operating environments, helping redefine what is possible in process optimization, custody transfer, and operational efficiency across the oil and gas value chain. This honor underscores Flotek's continued leadership in advancing analyzer technology that directly addresses industry needs.2026 OutlookBased on first quarter results and current visibility, Flotek expects:2026 Total Revenue: $270 million to $290 million2026 Adjusted EBITDA(2): $36 million to $41 millionData Analytics momentum accelerated with new contracts, expanding the Q2–Q4 2026 expected backlog to $34.1 million and the three-year expected backlog to more than $90 million. Power services led this growth, reinforcing the shift toward high-margin, recurring revenue streams.Management CommentaryChief Executive Officer Dr. Ryan Ezell commented, "Our first quarter results build on the strong multi-year growth we have achieved across the business. During the quarter, both our Data Analytics and Chemistry segments delivered impressive year-over-year growth. Data Analytics now represents half of the Company's gross profit, and we expect it to surpass Chemistry as the largest contributor to profit during 2026.In early March, we announced our first power services contract, marking an important step in diversifying our revenue base beyond traditional oilfield applications. We believe this contract represents the first of many opportunities to capture high-margin, recurring revenue supporting power generation throughout the energy infrastructure sector.Our 2026 guidance reflects our focus on the convergence of real-time data and chemistry solutions further advancing our industrial pivot while laying the foundation for future market expansion."First Quarter 2026 Financial ResultsRevenue: Flotek reported total revenues of $70.1 million for the first quarter of 2026, an increase of 27%, compared to total revenues of $55.4 million for the first quarter of 2025. Revenue growth during the quarter was comprised of a 13% increase in Chemistry revenue and a 295% increase in Data Analytics revenue as compared to the prior-year quarter. First quarter 2026 revenue included $2.7 million related to the minimum purchase requirements (the "Minimum Purchase Requirements") under the Company's long-term supply agreement with ProFrac Services, LLC, as compared to $7.5 million in the prior-year quarter.Segment Revenue Summary (in thousands)

Three Months Ended March 31,

2026
2025
% Change

Chemistry Technologies:

External Revenues
$     14,741
$     22,009
(33) %Related Party Revenues
44,941
30,729
46 %Total
$     59,682
$     52,738
13 %

Data Analytics:

Product Revenues
$      1,853
$      1,662
11 %Service Revenues
8,516
962
785 %Total
$     10,369
$      2,624
295 %Gross Profit: The Company generated gross profit of $15.5 million during the first quarter of 2026, or 22% of revenues, compared to $12.4 million during the first quarter of 2025. The improvement in first quarter 2026 gross profit was primarily the result of the increased Chemistry and Data Analytics revenue, as compared to the first quarter of 2025. The improvement in gross profit was partially offset by a 64% reduction in revenue attributable to the Minimum Purchase Requirements as compared to the first quarter of 2025.Selling, General and Administrative ("SG&A") Expense: SG&A expense totaled $6.9 million for the first quarter of 2026, or 10% of revenues, compared to $6.3 million during the first quarter of 2025, or 11% of revenues. The increase in current quarter SG&A was primarily the result of higher non-cash stock compensation costs.Net Income and EPS: Flotek reported net income of $4.7 million, or $0.12 per diluted share, for the first quarter of 2026. This compares to net income of $5.4 million, or $0.17 per diluted share, for the first quarter of 2025. First quarter 2026 net income was impacted by a higher effective tax rate, as compared to the prior-year quarter, resulting from the partial release of the valuation allowance on deferred tax assets during the third quarter of 2025. Adjusted EBITDA (Non-GAAP)(1): Adjusted EBITDA was $9.1 million in the first quarter of 2026, a 44% increase as compared to $6.3 million in the first quarter of 2025. Adjusted EBITDA calculations for the first quarters of 2026 and 2025 do not add back non-cash amortization of contract assets totaling $2.2 million and $1.5 million, respectively.(1)A non-GAAP financial measure. See the "Unaudited Reconciliation of Non-GAAP Items and Non-Cash Items Impacting Earnings" section in this release for more information about this measure, including reconciliations to the most comparable GAAP measures. Calculations do not add back non-cash amortization of contract assets totaling $2.2 million and $1.5 million during the first quarters of 2026 and 2025, respectively.(2)A non-GAAP financial measure. See the "Unaudited Reconciliation of Non-GAAP Items and Non-Cash Items Impacting Earnings" section in this release for more information about this measure. We are unable to reconcile this forward-looking non-GAAP financial measure to the most directly comparable GAAP financial measure without unreasonable efforts, as we are unable to predict with a reasonable degree of certainty the impact of certain items that would be expected to impact the GAAP financial measure, including, among other items, certain stock-based compensation costs and interest costs related to fluctuations in borrowings under the Company's asset based loan. These items do not impact the non-GAAP financial measure. Guidance does not add back non-cash amortization of contract assets estimated to total $8.4 million during 2026.Conference Call DetailsThe Company plans to host its earnings conference call on Wednesday, May 6, 2026, at 9:00 a.m. CDT (10:00 a.m. EDT).Participants may access the call through Flotek's website at www.flotekind.com under "News and Events" within the Investor Relations section, by telephone toll free at 1-800-836-8184 (international toll: 1-646-357-8785), or by using the following link to access the webcast: https://app.webinar.net/95QB27jKEvW approximately five minutes prior to the start of the call. Following the conclusion of the conference call, a recording of the call will be available on the Company's website.Upcoming EventsBelow are some upcoming events where you may get the opportunity to meet with our team:May 26-28, 2026: Louisiana Energy Conference 2026 (New Orleans, LA)June 16-18, 2026: Planet Microcap 2026 (Las Vegas, NV)August 17-19, 2026: Enercom: The Energy Investment Conference (Denver, CO)About Flotek Industries, Inc.Flotek Industries, Inc. is a leading chemistry and data technology company focused on servicing the Energy industry. The Company's top tier technologies leverage near real-time data to deliver innovative solutions to maximize customer returns. Flotek has an intellectual property portfolio of over 130 patents, 20+ years of field and laboratory data, and a global presence in more than 59 countries.Flotek has established collaborative partnerships focused on sustainable and optimized chemistry and data solutions, aiming to reduce the environmental impact of energy on land, air, water and people.Flotek is based in Houston, Texas and its common shares are traded on the New York Stock Exchange under the ticker symbol "FTK." For additional information, please visit www.flotekind.com.Forward-Looking StatementsCertain statements set forth in this press release constitute forward-looking statements (within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934) regarding Flotek Industries, Inc.'s business, financial condition, results of operations and prospects. Words such as will, continue, expects, anticipates, intends, plans, believes, seeks, estimates and similar expressions or variations of such words are intended to identify forward-looking statements, but are not the exclusive means of identifying forward-looking statements in this press release. Although forward-looking statements in this press release reflect the good faith judgment of management, such statements can only be based on facts and factors currently known to management. Consequently, forward-looking statements are inherently subject to risks and uncertainties, and actual results and outcomes may differ materially from the results and outcomes discussed in the forward-looking statements. Further information about the risks and uncertainties that may impact the Company are set forth in the Company's most recent filing with the Securities and Exchange Commission on Form 10-K (including, without limitation, in the "Risk Factors" section thereof), and in the Company's other SEC filings and publicly available documents. Readers are urged not to place undue reliance on these forward-looking statements, which speak only as of the date of this press release. The Company undertakes no obligation to revise or update any forward-looking statements in order to reflect any event or circumstance that may arise after the date of this press release.FLOTEK INDUSTRIES, INC. UNAUDITED CONDENSED CONSOLIDATED BALANCE SHEETS(in thousands, except share data)

March 31, 2026
December 31, 2025ASSETS

Current assets:

Cash and cash equivalents$                 5,676
$                 5,731Restricted cash104
104Accounts receivable, net of allowance for credit losses of $820 and $764 at March 31, 2026 and December 31, 2025, respectively21,794
19,043Accounts receivable, related party, net of allowance for credit losses of $0 at March 31, 2026 and December 31, 202561,023
64,204Equipment credit, related party11,782
—Inventories, net14,303
10,629Other current assets2,709
3,445Current contract asset8,402
7,621Total current assets125,793
110,777Long-term contract asset52,102
55,115Property and equipment, net21,912
20,344Right-of-use assets2,895
3,083Deferred tax assets, net27,580
29,152Other long-term assets1,561
1,578TOTAL ASSETS$              231,843
$              220,049

LIABILITIES AND STOCKHOLDERS' EQUITY

Current liabilities:

Accounts payable$                52,566
$               48,317Accrued liabilities8,771
7,256Income taxes payable295
258Interest payable, related party986
1,008Current portion of operating lease liabilities1,287
1,251Current portion of finance lease liabilities156
153Asset-based loan4,666
3,332Total current liabilities68,727
61,575Note payable - related party39,608
39,584Long-term operating lease liabilities5,149
5,608Long-term finance lease liabilities184
224TOTAL LIABILITIES113,668
106,991Commitments and contingencies

Stockholders' equity:

Preferred stock, $0.0001 par value, 100,000 shares authorized; no shares issued and outstanding—
—Common stock, $0.0001 par value, 240,000,000 shares authorized; 37,390,332 shares issued and 36,174,338 shares outstanding at March 31, 2026; 31,320,960 shares issued and 30,130,480 shares outstanding at December 31, 2025 4
3Additional paid-in capital435,838
434,964Accumulated other comprehensive income 130
96Accumulated deficit(281,116)
(285,780)Treasury stock, at cost; 1,215,994 and 1,190,480 shares at March 31, 2026 and December 31, 2025, respectively (36,681)
(36,225)Total stockholders' equity118,175
113,058TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY$              231,843
$              220,049 FLOTEK INDUSTRIES, INC.UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS(in thousands, except per share data)

Three Months Ended March 31,

2026
2025Revenue:

Revenue from external customers
$        18,165
$        24,423Revenue from related party
51,886
30,939Total revenues
70,051
55,362Cost of goods sold
54,510
42,913Gross profit
15,541
12,449Operating costs and expenses:

Selling, general, and administrative
6,925
6,282Depreciation
631
252Research and development
396
355Gain on sale of property and equipment
—
(7)Total operating costs and expenses
7,952
6,882Income from operations
7,589
5,567Other income (expense):

Interest expense
(1,332)
(229)Other income, net
16
106Total other expense
(1,316)
(123)Income before income taxes
6,273
5,444Income tax expense
(1,609)
(64)Net income
$         4,664
$         5,380

Income per common share:

Basic
$           0.13
$           0.18Diluted
$           0.12
$           0.17

Weighted average common shares:

Weighted average common shares used in computing basic income per common share
36,100
29,683Weighted average common shares used in computing diluted income per common share
38,340
31,752 FLOTEK INDUSTRIES, INC.UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS(in thousands)

Three Months Ended March 31,
2026
2025Cash flows from operating activities:

Net income$             4,664
$             5,380Adjustments to reconcile net income to net cash provided by operating activities:

Change in fair value of contingent consideration—
(125)Amortization of contract assets2,232
1,482Depreciation631
252Amortization of deferred financing costs95
71Provision for credit losses, net of recoveries56
66Provision for excess and obsolete inventory396
64Gain on sale of property and equipment—
(7)Non-cash lease expense188
318Stock compensation expense824
461Deferred income tax expense1,572
14Changes in current assets and liabilities:

Accounts receivable(2,808)
(2,489)Accounts receivable, related party(9,798)
4,124Inventories(4,070)
(354)Income tax receivable20
—Other assets663
(540)Accounts payable4,249
893Accrued liabilities1,515
(1,811)Operating lease liabilities(423)
(568)Income taxes payable37
82Interest payable, related party(22)
—Net cash provided by operating activities21
7,313Cash flows from investing activities:

Capital expenditures(1,002)
(598)Proceeds from sale of assets—
7Net cash used in investing activities(1,002)
(591)Cash flows from financing activities:

Payments on long term debt—
(45)Proceeds from asset-based loan55,100
53,345Payments on asset-based loan(53,766)
(58,136)Proceeds from exercise of April 2025 Warrant1
—Payments to tax authorities for shares withheld from employees(456)
(23)Proceeds from issuance of stock under Employee Stock Purchase Plan44
31Proceeds from issuance of stock from stock option exercises6
—Payments for finance leases(37)
—Net cash provided by (used in) financing activities892
(4,828)Effect of changes in exchange rates on cash and cash equivalents34
(45)Net change in cash and cash equivalents and restricted cash(55)
1,849Cash and cash equivalents at the beginning of period5,731
4,404Restricted cash at the beginning of period104
102Cash and cash equivalents and restricted cash at beginning of period5,835
4,506Cash and cash equivalents at end of period5,676
6,253Restricted cash at the end of period104
102Cash and cash equivalents and restricted cash at end of period$             5,780
$             6,355 FLOTEK INDUSTRIES, INC.UNAUDITED RECONCILIATION OF NON-GAAP ITEMS AND NON-CASH ITEMS IMPACTING EARNINGS(in thousands)

Three Months Ended March 31,
2026
2025

Net income$           4,664
$           5,380Interest expense1,332
229Income tax expense1,609
64Depreciation and amortization631
252EBITDA (Non-GAAP) (1)$           8,236
$           5,925Stock compensation expense824
461Severance and retirement11
44Contingent liability revaluation—
(125)Gain on disposal of asset—
(7)Non-Recurring professional fees 22
—Adjusted EBITDA (Non-GAAP) (1)$           9,093
$           6,298

(1)Management believes that EBITDA and Adjusted EBITDA for the three months ended March 31, 2026 and 2025 are useful to investors to assess and understand operating performance, especially when comparing those results with previous and subsequent periods. Management views the adjustments made to net income for certain non-cash or non-recurring items noted above to be outside of the Company's normal operating results. Management analyzes operating results without the impact of the above items as an indicator of performance, to identify underlying trends in the business and cash flow from continuing operations, and to establish financial, compensation and operational objectives. Adjusted EBITDA as presented above does not add back non-cash amortization of contract assets totaling $2.2 million and $1.5 million during the three months ended March 31, 2026 and 2025, respectively. View original content to download multimedia:https://www.prnewswire.com/news-releases/flotek-reports-record-data-analytics-revenue-and-strong-first-quarter-results-302763180.htmlSOURCE Flotek Industries, Inc. Original: Flotek Reports Record Data Analytics Revenue and Strong First Quarter Results

Flotek Continues Data Driven Growth Trajectory, Delivering Strongest Quarterly Revenue Since 2017March 11, 2026 4:05 PM
PR Newswire (US)

HOUSTON, March 11, 2026 /PRNewswire/ -- Flotek Industries, Inc. ("Flotek" or the "Company") (NYSE: FTK) today announced operational and financial results for the fourth quarter and year ended December 31, 2025. A summary of key financial results for the fourth quarter and full year 2025 as compared to the year ago periods is as follows:

Financial Summary (in thousands, except 'per share' amounts)
Three Months Ended December 31,
Twelve Months Ended December 31,
2025
2024
% Change
2025
2024
% Change

Total Revenues$    67,519
$    50,758
33 %
$   237,262
$   187,025
27 %Gross Profit$    15,194
$    12,277
24 %
$    59,833
$    39,386
52 %Net Income$      3,025
$      4,429
(32) %
$    30,528
$    10,498
191 %Diluted Income Per Share$       0.08
$       0.14
(43) %
$       0.84
$       0.34
147 %Full-Year and Fourth Quarter 2025 HighlightsHighest quarterly and annual revenues since 2017.Data Analytics achieved its highest-ever quarterly and annual revenue.Strategic entry into power services in 2025 sets stage for high-margin, recurring revenue growth in 2026 and beyond.Gross profit climbed 24% vs. fourth quarter 2024 and 52% as compared to full year 2024.Data Analytics' gross profit accounted for 48% of total Company gross profit during the fourth quarter of 2025, as compared to 8% in the year ago quarter. 2025 net income totaled $30.5 million or $0.84 per diluted share, vs. $0.34 per diluted share in 2024.Adjusted EBITDA Calculation ModificationThe Company's revenue, as reported under generally accepted accounting principles, includes a non-cash reduction related to the amortization of contract assets. Historically, the Company added back this non-cash revenue reduction in its calculation of Adjusted EBITDA.Beginning with year-end 2025 reporting, the Company has revised its calculation of Adjusted EBITDA and will no longer add back the non-cash amortization of contract assets associated with the ProFrac Agreement in accordance with relevant Securities and Exchange Commission's guidance on the disclosure of non-GAAP financial measures. Non-cash amortization of contract assets that would have been added back under the Company's previous calculation of Adjusted EBITDA totaled $2.1 million and $1.3 million during the fourth quarters of 2025 and 2024, respectively, and $6.3 million and $5.6 million for the years ended December 31, 2025 and 2024, respectively. This revision does not impact debt covenants or the Company's operating cash flow.The following table presents the Company's Adjusted EBITDA for the quarter and year-end December 31, 2025 and 2024 using the revised methodology (in thousands):
Three Months Ended December 31,
Twelve Months Ended December 31,
2025
2024
% Change
2025
2024
% ChangeAdjusted EBITDA (Revised)(1)(2)$      8,047
$      5,752
40 %
$     32,790
$     14,715
123 %The Company's previously issued 2025 Adjusted EBITDA(3) guidance of $35 million to $40 million was based on its historical calculation methodology. Reflecting the revised methodology described above, 2025 Adjusted EBITDA(3) guidance would have been approximately $29 million to $34 million. For comparison, Adjusted EBITDA using the revised methodology for the year ended December 31, 2025 totaled $32.8 million.(1)Represents a non-GAAP financial measure, see the "Unaudited Reconciliation of Non-GAAP Items and Non-Cash Items Impacting Earnings" table in this release for more information about this measure, including reconciliations to the most comparable GAAP measures.

(2)Under the Company's previous methodology of computing Adjusted EBITDA, the Company added back non-cash amortization of contract assets totaling $2.1 million and $1.3 million during the fourth quarters of 2025 and 2024, respectively, and $6.3 million and $5.6 million for the years ended December 31, 2025 and 2024, respectively.

(3)Represents a non-GAAP financial measure, see the "Unaudited Reconciliation of Non-GAAP Items and Non-Cash Items Impacting Earnings" table in this release for more information about this measure. We are not able to reconcile this forward-looking non-GAAP measure to the most directly comparable GAAP financial measure without unreasonable efforts, as we are unable to predict with a reasonable degree of certainty the impact of certain items that would be expected to impact the GAAP financial measure, including, among other items, certain stock-based compensation costs, interest costs related to fluctuations in borrowings outstanding under the Company's asset based loan and the impact of the revaluation of certain liabilities, which is based upon our future stock price. These items do not impact the non-GAAP financial measure.Management CommentaryChief Executive Officer Dr. Ryan Ezell remarked, "Our fourth quarter results cap a transformative 2025 and reinforce Flotek's data driven growth trajectory. Through the powerful convergence of real-time data analytics and chemistry solutions, we delivered standout performance across both segments. In 2025, Data Analytics grew exponentially while Chemistry outpaced the market in a challenging environment.The April 2025 entry into power services represents a game-changing platform expansion, unlocking high-margin, recurring opportunities in utilities and beyond. With Data Analytics now contributing nearly 50% of gross profit, our business is more balanced, resilient, and scalable than ever. We enter 2026 with strong tailwinds, proven execution, a growing backlog of recurring revenue, and early validation in new markets that position us for even greater momentum.Our 2025 results, including 191% growth in net income and a 123% increase in Adjusted EBITDA(1), were achieved safely and efficiently. The best is yet to come as we capitalize on these foundations to drive sustained, profitable expansion."Fourth Quarter and Full-Year 2025 Financial ResultsRevenue: Flotek reported total revenues of $67.5 million for fourth quarter 2025, an increase of $16.8 million, or 33%, compared to total revenues of $50.8 million for fourth quarter 2024. Full-year 2025 total revenues totaled $237.3 million, as compared to total revenues of $187.0 million during 2024. Fourth quarter and full year 2025 revenues include $3.4 million and $27.4 million, respectively, related to the minimum purchase requirements under the Company's long-term supply agreement with ProFrac Services, LLC.Segment Revenue Summary (in thousands)
Three Months Ended December 31,
Twelve Months Ended December 31,
2025
2024
% Change
2025
2024
% Change

Chemistry Technologies:

External Revenues$     14,791
$     21,071
(30) %
$     79,565
$     63,214
26 %Related Party Revenues42,659
27,215
57 %
130,221
114,947
13 %Total$     57,450
$     48,286
19 %
$    209,786
$    178,161
18 %

Data Analytics:

Product Revenues$      2,154
$         825
161 %
$      7,330
$      4,745
54 %Service Revenues7,915
1,647
381 %
20,146
4,119
389 %Total$     10,069
$      2,472
307 %
$     27,476
$      8,864
210 %

Gross Profit: The Company generated gross profit of $15.2 million during fourth quarter 2025 compared to a gross profit of $12.3 million during fourth quarter 2024. The improvement in fourth quarter 2025 gross profit was primarily the result of the 19% increase in chemistry revenue and a 307% increase in data analytics revenue, as compared to fourth quarter 2024. This meaningful shift toward higher-margin Data Analytics (now approximately 48% of Q4 gross profit) enhances our profitability profile and supports continued margin expansion as we scale in new markets.The increase in fourth quarter 2025 gross profit was partially offset by a $5.2 million or 60% reduction in the order shortfall penalty under the Company's chemistry supply agreement, as compared to the year ago quarter. On a percentage of revenue basis, gross profit totaled 22.5% for the fourth quarter of 2025.The Company generated gross profit of $59.8 million for full-year 2025 compared to gross profit of $39.4 million for full-year 2024. On a percentage of revenue basis, gross profit totaled 25% for the year ended December 31, 2025.Selling, General and Administrative ("SG&A") Expense: SG&A expense totaled $7.6 million for fourth quarter 2025 as compared to SG&A expense of $6.6 million for fourth quarter 2024. SG&A expense totaled $28.0 million for full-year 2025 compared to $24.7 million for full-year 2024. On a percentage of revenue basis, SG&A totaled 12% during 2025 as compared to 13% during 2024.Net Income and EPS: Flotek reported net income of $3.0 million, or $0.08 per diluted share, for the fourth quarter 2025. This compares to net income of $4.4 million, or $0.14 per diluted share, for the fourth quarter 2024. The Company's fourth quarter 2025 net income was impacted by a higher effective tax rate resulting from non-cash adjustments related to the partial release of the valuation allowance on deferred tax assets. Net income for full-year 2025 was $30.5 million, or $0.84 per diluted share, compared to net income of $10.5 million, or $0.34 per diluted share, for the comparable period of 2024. Net income for full year 2025 included a $10.9 million tax benefit related to the partial release of the Company's valuation allowance on its deferred tax assets recorded in the third quarter of 2025.2026 GuidanceConsistent with 2025 and 2024, Flotek plans to issue 2026 guidance in conjunction with the release of its first quarter 2026 financial and operating results.Upcoming Investor EventsFlotek will participate in the 38th Annual Roth Conference to be held at the Ritz Carlton in Dana Point, California, March 23-24, 2026. Flotek Chief Executive Officer Ryan Ezell will be joined by Chief Financial Officer Bond Clement in hosting investor meetings during the event. An updated corporate presentation to be used in discussions at the conference will be posted to the Investor Relations section of Flotek's corporate website at www.flotekind.com prior to the start of the conference.Below are some upcoming events where you may get the opportunity to meet with our team:March 12th, 2026, 9am CT: Flotek 4th Qtr. & FY 2025 Earnings Conference CallMarch 23-24th, 2026: 38th Annual ROTH Conference (Dana Point, CA)May 26-28th, 2026: Louisiana Energy Conference 2026 (New Orleans, LA)For more event details visit our Investor Relations page at https://ir.flotekind.com/eventsConference Call DetailsThe Company plans to host its earnings conference call on Thursday, March 12, 2026, at 9:00 a.m. CT (10:00 a.m. ET).Participants may access the call through Flotek's website at https://ir.flotekind.com/events, by telephone toll free at 1-800-836-8184 (international toll: 1-646-357-8785), or by using the following link to access the webcast: https://app.webinar.net/BwpdmxQyN6M approximately five minutes prior to the start of the call. Following the conclusion of the conference call, a recording of the call will be available on the Company's website.About Flotek Industries, Inc.Flotek Industries, Inc. is a leading chemistry and data technology company focused on servicing the Energy industry. The Company's top tier technologies leverage near real-time data to deliver innovative solutions to maximize customer returns. Flotek has an intellectual property portfolio of over 130 patents, 20+ years of field and laboratory data, and a global presence in more than 59 countries.Flotek has established collaborative partnerships focused on sustainable and optimized chemistry and data solutions, aiming to reduce the environmental impact of energy on land, air, water and people.Flotek is based in Houston, Texas and its common shares are traded on the New York Stock Exchange under the ticker symbol "FTK." For additional information, please visit www.flotekind.com.Forward-Looking StatementsCertain statements set forth in this press release constitute forward-looking statements (within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934) regarding Flotek Industries, Inc.'s business, financial condition, results of operations and prospects. Words such as will, continue, expects, anticipates, intends, plans, believes, seeks, estimates and similar expressions or variations of such words are intended to identify forward-looking statements, but are not the exclusive means of identifying forward-looking statements in this press release. Although forward-looking statements in this press release reflect the good faith judgment of management, such statements can only be based on facts and factors currently known to management. Consequently, forward-looking statements are inherently subject to risks and uncertainties, and actual results and outcomes may differ materially from the results and outcomes discussed in the forward-looking statements. Further information about the risks and uncertainties that may impact the Company are set forth in the Company's most recent filing with the Securities and Exchange Commission on Form 10-K (including, without limitation, in the "Risk Factors" section thereof), and in the Company's other SEC filings and publicly available documents. Readers are urged not to place undue reliance on these forward-looking statements, which speak only as of the date of this press release. The Company undertakes no obligation to revise or update any forward-looking statements in order to reflect any event or circumstance that may arise after the date of this press release. FLOTEK INDUSTRIES, INC. UNAUDITED CONDENSED CONSOLIDATED BALANCE SHEETS(in thousands, except share data)

December 31, 2025
December 31, 2024ASSETS

Current assets:

Cash and cash equivalents$                              5,731
$                             4,404Restricted cash104
102Accounts receivable, net of allowance for credit losses of $764 and $447 at
December 31, 2025 and December 31, 2024, respectively19,043
17,386Accounts receivable, related party, net of allowance for credit losses of $0 at
December 31, 2025 and December 31, 202464,204
52,370Inventories, net10,629
13,303Other current assets3,445
2,952Current contract asset7,621
5,939Total current assets110,777
96,456Long-term contract asset55,115
63,105Property and equipment, net20,344
6,178Right-of-use assets3,083
3,326Deferred tax assets, net29,152
51Other long-term assets1,578
1,680TOTAL ASSETS$                         220,049
$                         170,796

LIABILITIES AND STOCKHOLDERS' EQUITY

Current liabilities:

Accounts payable$                           48,317
$                           38,073Accrued liabilities7,256
5,912Income taxes payable258
48Interest payable, related party1,008
—Current portion of operating lease liabilities1,251
1,486Current portion of finance lease liabilities153
—Asset-based loan3,332
4,789Current portion of long-term debt—
60Total current liabilities61,575
50,368Deferred revenue, long-term—
14Note payable - related party39,584
—Long-term operating lease liabilities5,608
6,514Long-term finance lease liabilities224
—TOTAL LIABILITIES106,991
56,896Commitments and contingencies

Stockholders' equity:

Preferred stock, $0.0001 par value, 100,000 shares authorized; no shares
issued and outstanding—
—Common stock, $0.0001 par value, 240,000,000 shares authorized;
31,320,960 shares issued and 30,130,480 shares outstanding at December
31, 2025; 30,938,073 shares issued and 29,826,508 shares outstanding at
December 31, 2024 3
3Additional paid-in capital434,964
464,620Accumulated other comprehensive income 96
251Accumulated deficit(285,780)
(316,308)Treasury stock, at cost; 1,190,480 and 1,111,565 shares at December 31,
2025 and December 31, 2024, respectively (36,225)
(34,666)Total stockholders' equity113,058
113,900TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY$                         220,049
$                         170,796 FLOTEK INDUSTRIES, INC.Unaudited Condensed Consolidated Statements of Operations(in thousands, except per share data)

Three Months Ended
December 31,
Twelve Months Ended
December 31,
2025
2024
2025
2024Revenue:

Revenue from external customers$    17,890
$    23,328
$    90,436
$    71,263Revenue from related party49,629
27,430
146,826
115,762Total revenues67,519
50,758
237,262
187,025Cost of goods sold52,325
38,481
177,429
147,639Gross profit15,194
12,277
59,833
39,386Operating costs and expenses:

Selling, general, and administrative7,606
6,630
28,046
24,709Asset acquisition expenses—
—
4,362
—Depreciation629
229
1,836
891Research and development463
365
1,822
1,714Severance expenses508
—
530
—Gain on sale of property and equipment—
(90)
(7)
(124)Total operating costs and expenses9,206
7,134
36,589
27,190Income from operations5,988
5,143
23,244
12,196Other income (expense):

Interest expense(1,374)
(253)
(3,937)
(1,095)Other income (expense), net69
(105)
348
46Total other expense(1,305)
(358)
(3,589)
(1,049)Income before income taxes4,683
4,785
19,655
11,147Income tax benefit (expense)(1,658)
(356)
10,873
(649)Net income$      3,025
$      4,429
$    30,528
$    10,498

Income per common share:

Basic$        0.08
$        0.15
$        0.90
$        0.36Diluted$        0.08
$        0.14
$        0.84
$        0.34

Weighted average common shares:

Weighted average common shares used in
computing basic income per common share36,023
29,642
33,903
29,534Weighted average common shares used in
computing diluted income per common share38,268
31,436
36,156
30,889 FLOTEK INDUSTRIES, INC.UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS(in thousands)

Twelve Months Ended December 31,
2025
2024Cash flows from operating activities:

Net income$                     30,528
$                     10,498Adjustments to reconcile net income to net cash provided by operating activities:

Change in fair value of contingent consideration(127)
71Amortization of contract assets6,308
5,612Depreciation1,836
891Amortization of deferred financing costs345
314Provision for credit losses, net of recoveries603
181Provision for excess and obsolete inventory442
645Gain on sale of property and equipment(7)
(124)Non-cash lease expense1,025
2,094Stock compensation expense2,300
1,366Deferred income tax (benefit) expense(11,185)
249Changes in current assets and liabilities:

Accounts receivable(2,260)
(3,880)Accounts receivable, related party(36,634)
(17,801)Inventories3,066
(1,110)Income tax receivable(32)
8Other assets(473)
561Accounts payable10,244
6,368Accrued liabilities1,457
(70)Operating lease liabilities(1,450)
(2,515)Income taxes payable210
3Interest payable, related party1,008
—Net cash provided by operating activities7,204
3,361Cash flows from investing activities:

Capital expenditures(1,984)
(1,940)Proceeds from sale of assets7
124Net cash used in investing activities(1,977)
(1,816)Cash flows from financing activities:

Payments on long term debt(60)
(179)Proceeds from asset-based loan186,950
166,950Payments on asset-based loan(188,407)
(169,653)Payment of asset-based loan origination costs(169)
(164)Payment of note payable issuance costs(480)
—Payment of issuance costs of stock warrants(653)
—Payments to tax authorities for shares withheld from employees(1,559)
(162)Proceeds from issuance of stock under Employee Stock Purchase Plan155
114Proceeds from issuance of stock from stock option exercises576
—Payments for finance leases(96)
(22)Net cash used in financing activities(3,743)
(3,116)Effect of changes in exchange rates on cash and cash equivalents(155)
124Net change in cash and cash equivalents and restricted cash1,329
(1,447)Cash and cash equivalents at the beginning of period4,404
5,851Restricted cash at the beginning of period102
102Cash and cash equivalents and restricted cash at beginning of period4,506
5,953Cash and cash equivalents at end of period5,731
4,404Restricted cash at the end of period104
102Cash and cash equivalents and restricted cash at end of period$                       5,835
$                       4,506 FLOTEK INDUSTRIES, INC.Unaudited Reconciliation of Non-GAAP Items and Non-Cash Items Impacting Earnings(in thousands)

Three Months Ended
December 31,
Twelve Months Ended
December 31,
2025
2024
2025
2024

Net income$          3,025
$          4,429
$        30,528
$        10,498Interest expense1,374
253
3,937
1,095Income tax (benefit) expense1,658
356
(10,873)
649Depreciation and amortization629
229
1,836
891EBITDA (Non-GAAP) (1)$          6,686
$          5,267
$        25,428
$        13,133Stock compensation expense594
451
2,300
1,366Severance and retirement508
7
575
39Contingent liability revaluation—
117
(127)
71Gain on disposal of asset—
(90)
(7)
(124)Non-Recurring professional fees (2)259
—
4,621
230Adjusted EBITDA (Non-GAAP) (1)$          8,047
$          5,752
$        32,790
$        14,715

(1)Management believes that EBITDA and Adjusted EBITDA for the three and twelve months ended December 31, 2025 and 2024 are useful to investors to assess and understand operating performance, especially when comparing those results with previous and subsequent periods. Management views the adjustments made to net income for certain non-cash or non-recurring items noted above to be outside of the Company's normal operating results. Management analyzes operating results without the impact of the above items as an indicator of performance, to identify underlying trends in the business and cash flow from continuing operations, and to establish financial, compensation and operational objectives. In addition, the Company believes that Adjusted EBITDA provides investors, creditors and analysts with a clearer view of the Company's leverage profile and debt service capacity, enhancing comparability and augmenting the ability of investors, creditors and analysts to make investment decisions based upon liquidity. Under the Company's previous methodology of computing Adjusted EBITDA, the Company added back non-cash amortization of contract assets. Adjusted EBITDA as presented above does not add back non-cash amortization of contract assets totaling $2.1 million and $1.3 million during the fourth quarters of 2025 and 2024, respectively, and $6.3 million and $5.6 million for the years ended December 31, 2025 and 2024, respectively.

(2)Includes $4.4 million of expenses related to an asset acquisition for the twelve months ended December 31, 2025.

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Original: Flotek Continues Data Driven Growth Trajectory, Delivering Strongest Quarterly Revenue Since 2017