Filing Flows › Natural Gas Services Group (NGS) › Q1 2026 › vs Q4 2025
Natural Gas Services Group (NGS) Q1 2026 vs Q4 2025 (quarter over quarter)
Natural Gas Services Group's revenue rose $2.3M (+5%) from $46.1M in Q4 2025 to $48.5M in Q1 2026. Operating margin 27.0% against 15.4% (+11.6 pts).
Natural Gas Services Group, Q1 2026: revenue $48.5M (+17% year over year), operating margin 27.0%, net earnings $6.8M, operating cash flow $23.0M. The chart draws each line against Q4 2025, the increases inside each band.
Margins
| Q1 2026 | Q4 2025 | Change | |
|---|---|---|---|
| Operating margin | 27.0% | 15.4% | +11.6 pts |
| Net margin | 14.0% | 8.9% | +5.1 pts |
| Free cash flow margin | 16.1% | -44.8% | +60.9 pts |
Every line
| Line | Q1 2026 | Q4 2025 | Change | % |
|---|---|---|---|---|
| Revenue | $48.5M | $46.1M | $2.3M | +5% |
| Operating profit | $13.1M | $7.1M | $6.0M | +84% |
| Costs & expenses | $35.4M | $39.0M | −$3.6M | -9% |
| Pre-tax earnings | $8.9M | $5.8M | $3.1M | +53% |
| Other expense, net | $4.2M | $1.3M | $2.9M | +228% |
| Cost of revenue | $18.2M | $19.9M | −$1.7M | -9% |
| SG&A | $6.5M | $5.7M | $799K | +14% |
| Other operating costs | $10.7M | $13.4M | −$2.7M | -20% |
| Net earnings | $6.8M | $4.1M | $2.7M | +65% |
| Income tax | $2.2M | $1.7M | $411K | +24% |
| Depreciation & amortization | $10.3M | $9.8M | $523K | +5% |
| Share-based compensation | $579K | $576K | $3K | +0.5% |
| Working capital & other | $5.4M | −$615K | $6.0M | — |
| Operating cash flow | $23.0M | $13.9M | $9.2M | +66% |
| Free cash flow (OCF − capex) | $7.8M | −$20.7M | $28.5M | — |
| Capital expenditures | $15.2M | $34.6M | −$19.3M | -56% |
Questions
How much did Natural Gas Services Group's revenue grow quarter over quarter in Q1 2026?
Natural Gas Services Group's revenue rose $2.3M (+5%) from $46.1M in Q4 2025 to $48.5M in Q1 2026. Operating margin 27.0% against 15.4% (+11.6 pts).