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Team (TISI) earnings and revenue breakdown
Latest: Q2 2026 · 10-Q filed Aug 10, 2026 · Team (TISI) Q2 2026 earnings results →
Q2 2026 Revenue down 8% year over year to $229M · 3¢ of every $1 of revenue lost · operating margin 1.0%
Team made $229M in Q2 2026 (-8% Y/Y): Non-Destructive Evaluation and Testing Services $114M, Repair and Maintenance Services $96.5M, Heat-Treating $14.3M. Operating margin 1.0%, net loss $6.8M. See where every dollar goes — costs, profit and cash — as a Sankey from the 10-Q filed Aug 10, 2026.
Drawing the Sankey…
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What changed this quarter
Revenue was $228.7M in Q2 2026, down 8% year over year and up 6% from the previous quarter. Non-Destructive Evaluation and Testing Services was the largest line at 50% of revenue. Repair and Maintenance Services lost $12.8M year over year (down 12%), 66% of the total change.
Gross margin was 23.8%, down 3.7 points from Q2 2025. Operating profit was $2.2M, a 1.0% margin (down 3.9 points year over year). Operating expenses fell 7% while revenue fell 8%. The quarter ended with a net loss of $6.8M, narrower than the previous quarter's $11.3M loss. Net interest and other expense of $9.1M was the main reason.
Operating cash flow was $680K. Non-cash charges added back $8.5M of depreciation and amortization and $312K of share-based compensation. Working capital and other items used $1.3M. Capital expenditures of $4.0M exceeded it, leaving free cash flow of −$3.3M.
Quarterly history
| Quarter | Form | Filed | Revenue | Y/Y | Op. margin | Net earnings | Op. cash flow |
|---|---|---|---|---|---|---|---|
| Q2 2026 | 10-Q | Aug 10, 2026 | $229M | -8% | 1.0% | −$6.8M | $680K |
| Q1 2026 | 10-Q | May 13, 2026 | $215M | +8% | -1.6% | −$11.3M | −$9.1M |
| Q4 2025 | 10-K | Mar 12, 2026 | $225M | +5% | 2.9% | −$3.8M | $16.8M |
| Q3 2025 | 10-Q | Nov 12, 2025 | $225M | +7% | 0.6% | −$11.4M | $3.9M |
| Q2 2025 | 10-Q | Aug 12, 2025 | $248M | +8% | 4.9% | −$4.3M | −$3.3M |
| Q1 2025 | 10-Q | May 12, 2025 | $199M | -0.5% | -3.0% | −$29.7M | −$28.7M |
| Q4 2024 | 10-K | Mar 19, 2025 | $213M | -0.4% | 1.0% | −$7.2M | $21.6M |
Charts
Interactive views
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💵Where each $1 goesinteractive
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🌏Named in Asian annual reportsinteractive
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🔄Rotation against the market and its industry (RRG)interactive
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🔍Earnings qualityinteractive
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⚖️Fair value by methodinteractive
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🔭Outlook & guidanceinteractive
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📈Investments: gains and what it boughtinteractive
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🏭Its industry’s money flow (input-output)interactive
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About Team
Introduction. Unless otherwise indicated, the terms “Team,” “the Company,” “we,” “our” and “us” are used in this report to refer to either Team, Inc., to one or more of our consolidated subsidiaries, or to all of them taken as a whole. Our stock is traded on the NYSE under the symbol “TISI”. We are a global, leading provider of specialty industrial services offering customers access to a full suite of conventional, specialized, and proprietary mechanical, heat-treating, and inspection services. We deploy conventional to highly specialized inspection, condition assessment, maintenance and repair services that result in greater safety, reliability and operational efficiency for our customers’ most critical assets. We conduct operations in two segments: Inspection and Heat-Treating (“IHT”) and Mechanical Services (“MS”).
In its own words, from its 10-K, filed Mar 12, 2026.
Source: Team 10-Q on SEC EDGAR · CIK 318833 · Services-Miscellaneous Repair Services
13F: who owns TISI and who is buying
More on TISI
History
Every quarter: Q2 2026 results · Q1 2026 results · Q4 2025 results · Q3 2025 results · Q2 2025 results · Q1 2025 results · Q4 2024 results