Filing Flows › Nine Energy Service (NINE) › Q4 2025
Nine Energy Service (NINE) Q4 2025 earnings results (fourth quarter 2025)
10-K filed Mar 4, 2026
Nine Energy Service (NINE) reported revenue of $132M for the fourth quarter 2025 (Q4 2025), -7% from a year earlier and +0.1% from the quarter before. Operating margin was -4.2%, net loss $19.2M (14.5% of revenue).
Nine Energy Service, Q4 2025: revenue $132M (-6% year over year), operating margin -4.2%, net loss $19.2M, operating cash flow −$2.2M. The chart follows the revenue to costs, profit and cash.
| Q4 2025 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $132M | +0.1% | -7% |
| Operating profit | −$5.5M | — | -257% |
| Net earnings | −$19.2M | — | — |
| Operating cash flow | −$2.2M | — | -114% |
What changed
Revenue was $132.2M in Q4 2025, down 7% year over year and roughly flat from the previous quarter. Cement was the largest line at 40% of revenue.
Operating costs exceeded revenue by $5.5M, an operating margin of -4.2%. Total costs fell 0% while revenue fell 7%. The fastest-growing cost line was General & admin (+40%). The quarter ended with a net loss of $19.2M, wider than the previous quarter's $14.6M loss. Net interest and other expense of $13.6M was the main reason.
Operating cash flow was −$2.2M. Non-cash charges added back $8.6M of depreciation and amortization and $455K of share-based compensation. Working capital and other items added $8.0M. Capital expenditures of $2.6M exceeded it, leaving free cash flow of −$4.8M.
Questions
What was Nine Energy Service's revenue in the fourth quarter 2025?
Nine Energy Service (NINE) reported revenue of $132M for the fourth quarter 2025 (Q4 2025), -7% from a year earlier and +0.1% from the quarter before.
Was Nine Energy Service profitable in the fourth quarter 2025?
Operating loss was $5.5M (-4.2% of revenue) and net loss $19.2M.