Record-Breaking Revenue
First quarter revenue of $50 million exceeded the high end of the guided range by $4 million, representing the highest quarterly revenue for NCS since Q1 2020.
Strong Canadian Performance
Q1 revenue in Canada of $38 million increased by 19% compared to Q1 2024, outpacing a 3% increase in the average rig count.
International and Offshore Growth
International revenue increased by 34%, with significant contributions from the Middle East and the North Sea.
Innovative Solutions
Introduction of new products, including a 7-inch sliding sleeve for Alaska, enhanced recovery systems in Argentina, and the Lumen8 multi-day automated sampler.
Improved Financial Metrics
Adjusted EBITDA of $8.2 million exceeded the estimated range and improved by $2.1 million year-over-year.