Consistent Revenue and Profit Growth
Flotek achieved its sixth consecutive quarter of revenue and gross profit growth and its 11th consecutive quarter of adjusted EBITDA improvement. Total revenue during the quarter rose 26% year-over-year, highlighted by a 189% increase in Data Analytics revenue and a 38% increase in external chemistry revenue.
Data Analytics Segment Expansion
The Data Analytics segment saw a 452% increase in service revenues and gross profit rose to 63%. A multiyear contract was secured, estimated to deliver $156 million in revenue.
Successful Asset Acquisition
Flotek acquired 30 real-time gas monitoring and dual fuel optimization assets, with 26 operating by the end of July. This acquisition is expected to generate $15 million in revenue for 2025 and over $27 million in 2026.
Exceptional Operational Safety
Flotek reported zero lost time incidents in field operations and celebrated a 10-year record with no recordables at its MTI facility in Raceland, Louisiana.
Strong Financial Performance
Adjusted net income totaled $6 million, a 202% improvement year-over-year. Adjusted EBITDA was up 113% year-over-year. Gross profit margin increased to 25%.