Q4 2025 NCS Multistage Holdings Inc Earnings Call Transcript
Key Points
- NCS Multistage Holdings Inc (NCSM) exceeded the high end of their guidance range for revenue, adjusted EBITDA, and free cash flow for the fourth quarter and full year 2025.
- The company achieved a 13% year-over-year revenue growth, with a 10% increase excluding contributions from the ResMetrics acquisition.
- Adjusted EBITDA increased by 20% year-over-year, reaching $26.7 million with a margin of 15%, showcasing strong financial performance.
- The acquisition of ResMetrics enhanced NCSM's global position in the tracer diagnostic space and is expected to provide cost savings and revenue synergies.
- NCSM maintained a strong balance sheet with a net cash position of approximately $29 million and an undrawn revolver, highlighting financial flexibility.
- The company faced a 7% decline in Canadian revenue for the fourth quarter due to lower activity levels and market headwinds.
- Adjusted gross margin slightly declined to 42% in the fourth quarter, down from 43% in the same period of 2024, due to the mix of international tracer diagnostic jobs.
- Selling, general, and administrative costs increased by $1 million for the full year 2025, partly due to higher share-based compensation expenses.
- NCSM anticipates a challenging market environment in 2026, with flat to lower customer activity expected in North America.
- The company's financial guidance for 2026 does not account for potential impacts from volatile trade environments or geopolitical conflicts, which could affect operations.
Good day and thank you for standing by. Welcome to the 4th quarter and full year 2025 NCS multi-stage earnings conference call. At this time, all participants are in a listen-only mode. After the speaker's presentation, we'll open up for questions. To ask a question during the session, you will need to press 11 on your telephone. You will then hear an automated message advising your hand is raised to withdraw your question, please press 11 again. Please be advised that today's call is being recorded. I would like to hand it over to your speaker today, Corvin Woodhull, Hayden, US relations. Please go ahead.
Thank you, Victor. I would like to welcome everyone to the conference call and thank NCS Multi-Stage Management for hosting today's call. With us on the call today are Mr. Ryan Hummer, CEO of NCS MultiStage, and Mr. Mike Morrison, the CFO. I want to remind listeners that some of today's comments include forward-looking statements such as our financial guidance and comments regarding our future expectations for financial
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