Quarterly ResultMay 7, 2026, 04:10 PM
Flotek Q1 Revenue Jumps 26.5% to $70.1M; Net Income Declines 13.3%
AI Summary
Flotek Industries reported a 26.5% increase in total revenues to $70.1 million for Q1 2026, driven primarily by a 67.7% surge in related party revenue. Despite this, net income decreased by 13.3% to $4.7 million, and basic EPS fell to $0.13 from $0.18 in the prior year. The company also saw a significant drop in net cash provided by operating activities and the exercise of the April 2025 Warrant by ProFrac GDM for 6 million shares.
Key Highlights
- Total revenues increased 26.5% to $70.1 million for Q1 2026 from $55.4 million in Q1 2025.
- Net income decreased 13.3% to $4.7 million in Q1 2026 from $5.4 million in Q1 2025.
- Basic earnings per share (EPS) was $0.13 in Q1 2026, down from $0.18 in Q1 2025.
- Revenue from related parties surged 67.7% to $51.9 million, while external customer revenue fell 25.7% to $18.2 million.
- Gross profit rose 24.8% to $15.5 million in Q1 2026 from $12.4 million in Q1 2025.
- Net cash provided by operating activities significantly decreased to $21K in Q1 2026 from $7.3 million in Q1 2025.
- ProFrac GDM exercised the April 2025 Warrant for 6 million common shares on March 13, 2026.
- The Asset-Based Loan (ABL) was amended, extending maturity to August 2026 and increasing credit availability.
Price Impact
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