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Flotek Industries, Inc. operates as a chemical and data analytics company in the United States, the United Arab Emirates, and internationally. It operates in two segments, Chemistry Technologies (CT) and Data Analytics (DA). The CT segment offers chemistry solutions, such as proprietary chemistries, specialty chemistries, logistics, and technology services for desired chemical applications program to integrated oil and gas companies, oilfield services companies, independent oil and gas companies, national and state-owned oil companies, geothermal energy companies, solar energy companies, and advanced alternative energy companies. This segment also designs, develops, manufactures, packages, distributes, and markets chemistry solutions designed for existing sustainability practices to reduce the environmental impact of energy on the air, water, land, and people. The DA segment is also involved in the provision of analytical measurement and digital solutions, including measure-and-control services for near real-time insights for process control in the oil and gas value chain, and emerging applications in power and digital valuation; and solutions to optimize performance, improve decision-making, and reduce emissions and carbon intensity; and short and long-term equipment rental. It sells its products directly through in-house sales professionals and contractual agency agreements. Flotek Industries, Inc. was incorporated in 1985 and is headquartered in Houston, Texas.
5-year financial trends. Figures in USD millions.
Latest fiscal year: 2025
Year-by-year revenue, profitability, and cash flow (USD millions, last 10 years)
| Year | Revenue | EBITDA | Net Profit | FCF | ROE | Rev Growth 1Y | NP Growth 1Y |
|---|---|---|---|---|---|---|---|
| 2025 | $237M | $25M | $31M | $5M | 27.0% | 26.9% | 190.8% |
| 2024 | $187M | $13M | $10M | $1M | 9.2% | -0.5% | -57.5% |
| 2023 | $188M | $28M | $25M | $-12M | 24.2% | 38.2% | - |
| 2022 | $136M | $-35M | $-42M | $-45M | -1629.6% | - | - |
Income statement, balance sheet, and cash flow as reported
Consolidated Figures in USD Millions.
| Metric | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|
| Total Revenue | 136.09 | 188.06 | 187.03 | 237.26 |
| Cost Of Revenue | 142.79 | 163.79 | 147.64 | 177.43 |
| Gross Profit | -6.70 | 24.26 | 39.39 | 59.83 |
| Operating Expense | 32.30 | 31.05 | 27.31 | 31.70 |
| Operating Income | -39 | -6.78 | 12.07 | 28.13 |
| EBITDA | -34.54 | 28.45 | 13.13 | 25.43 |
| EBIT | -35.28 | 27.72 | 12.24 | 23.59 |
| Pretax Income | -42.33 | 24.86 | 11.15 | 19.66 |
| Tax Provision | -0.02 | 0.15 | 0.65 | -10.87 |
| Net Income | -42.30 | 24.71 | 10.50 | 30.53 |
| Net Income Common Stockholders | -42.30 | 24.71 | 10.50 | 30.53 |
| Total Expenses | 175.09 | 194.84 | 174.95 | 209.13 |
| Interest Expense | 7.05 | 2.86 | 1.09 | 3.94 |
| Research And Development | 4.44 | 2.49 | 1.71 | 1.82 |
| Selling General And Administration | 27.12 | 27.83 | 24.71 | 28.05 |
| Normalized EBITDA | -38.04 | 23.89 | 13.01 | 25.95 |
| Normalized Income | -45.80 | 20.18 | 10.38 | 30.94 |
| Basic EPS | -3.41 | 1 | 0.36 | 0.90 |
| Diluted EPS | -3.41 | -0.10 | 0.34 | 0.84 |
| Tax Effect Of Unusual Items | 0 | 0.03 | 0.01 | -0.11 |
| Tax Rate For Calcs | 0 | 0.01 | 0.06 | 0.21 |
| Total Unusual Items | 3.50 | 4.56 | 0.12 | -0.52 |
| Total Unusual Items Excluding Goodwill | 3.50 | 4.56 | 0.12 | -0.52 |
| Net Income From Continuing Operation Net Minority Interest | -42.30 | 24.71 | 10.50 | 30.53 |
| Reconciled Depreciation | 0.73 | 0.73 | 0.89 | 1.84 |
| Reconciled Cost Of Revenue | 142.79 | 163.79 | 147.64 | 177.43 |
| Net Interest Income | -7.05 | -2.86 | -1.09 | -3.94 |
| Net Income From Continuing And Discontinued Operation | -42.30 | 24.71 | 10.50 | 30.53 |
| Total Operating Income As Reported | -35.42 | 23.22 | 12.20 | 23.24 |
| Diluted Average Shares | 12.40 | 28.38 | 30.89 | 36.16 |
| Basic Average Shares | 12.40 | 24.83 | 29.53 | 33.90 |
| Diluted NI Availto Com Stockholders | -42.30 | -2.97 | 10.50 | 30.53 |
| Average Dilution Earnings | 0 | -27.68 | 0 | 0 |
| Net Income Including Noncontrolling Interests | -42.30 | 24.71 | 10.50 | 30.53 |
| Net Income Continuous Operations | -42.30 | 24.71 | 10.50 | 30.53 |
| Other Income Expense | 3.72 | 34.50 | 0.17 | -4.54 |
| Other Non Operating Income Expenses | 0.22 | 29.94 | 0.05 | -4.01 |
| Special Income Charges | 3.50 | 4.56 | 0.12 | -0.52 |
| Gain On Sale Of Ppe | 2.92 | 0.04 | 0.12 | 0.01 |
| Other Special Charges | -0.58 | -4.52 | 0 | 0 |
| Impairment Of Capital Assets | 0 | 0 | 0 | 0 |
| Restructuring And Mergern Acquisition | 0 | -0.05 | 0 | 0.53 |
| Net Non Operating Interest Income Expense | -7.05 | -2.86 | -1.09 | -3.94 |
| Interest Expense Non Operating | 7.05 | 2.86 | 1.09 | 3.94 |
| Depreciation Amortization Depletion Income Statement | 0.73 | 0.73 | 0.89 | 1.84 |
| Depreciation And Amortization In Income Statement | 0.73 | 0.73 | 0.89 | 1.84 |
| Depreciation Income Statement | 0.73 | 0.73 | 0.89 | 1.84 |
| Operating Revenue | 136.09 | 188.06 | 187.03 | 237.26 |
Energy sector peers, ranked by market cap
| Company | Ticker | Market Cap | P/E | P/B | ROE | EV/EBITDA |
|---|---|---|---|---|---|---|
| Flotek Industries, Inc.this co. | FTK | $613M | 20.17↑ premium | 4.51 | 27.0% | 21.95 |
| Forum Energy Technologies, Inc. | FET | $731M | - | 2.46 | -3.3% | 17.46 |
| Hallador Energy Company | HNRG | $714M | 15.79 | 4.16 | 26.2% | 7.30 |
| VAALCO Energy, Inc. | EGY | $713M | - | 1.57 | -9.3% | 4.90 |
| Oil States International, Inc. | OIS | $709M |
| - |
| 1.23 |
| -19.1% |
| 11.39 |
| W&T Offshore, Inc. | WTI | $667M | - | -3.34 | 75.1% | 9.17 |
| SandRidge Energy, Inc. | SD | $578M | 8.24 | 1.13 | 13.7% | 4.63 |
| Natural Gas Services Group, Inc. | NGS | $514M | 26.03 | 1.87 | 7.3% | - |
| Clean Energy Fuels Corp. | CLNE | $502M | - | 0.90 | -39.3% | 579.17 |
| Peer Median | - | 15.79 | 1.40 | 2.0% | 9.17 | |