Flotek Industries

Flotek Industries, Inc. is a technology-driven, specialty chemistry and data company that serves customers across industrial, commercial and consumer markets. It operates through the following segments: Chemistry Technologies and Data Analytics. The Chemistry Technologies segment develops, manufactures, packages, distributes delivers, and markets sanitizers and disinfectants for commercial, governmental and personal consumer use and also includes specialty chemistries and logistics which enable customers to improve efficiencies in the drilling and completion of well. The Data Analytics segment includes the design, development, production, sale and support of equipment and services that create and provide valuable information about the composition of energy customer's hydrocarbon fluids. The firm also empowers the energy industry to maximize the value of hydrocarbon streams and improve return on invested capital through real-time data platforms and chemistry technologies. It serves downstream, midstream and upstream customers, both domestic and international. The company was founded on May 17, 1985 and is headquartered in Houston, TX.

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Flotek Industries reports robust Q3 earnings and eyes global expansion

Flotek Industries delivered strong financial performance in Q3 2024, with notable revenue growth and improved profitability metrics.
While facing challenges in a competitive landscape, the company's focus on innovation and cost efficiency presents opportunities for sustained growth.
By emphasizing revenue growth, market expansion, and shareholder value, Flotek is poised to capitalize on opportunities and drive long-term success.

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Flotek Industries, Inc. engages in the business of creating unique solutions to reduce the environmental impact of energy on air, water, land, and people. It operates through the following segments: Chemistry Technologies (CT), Data Analytics (DA), and Corporate and Other. The CT segment includes developing, manufacturing, packaging, distributing, delivering, and marketing green specialty chemicals that help customers meet their environmental, social, and governance and operational goals and aims to enhance the profitability of hydrocarbon producers. The DA segment focuses on enabling users to maximize the value of their hydrocarbon associated processes by providing real-time data and analytics associated with the streams in seconds rather than minutes or days. The company was founded on May 17, 1985 and is headquartered in Houston, TX.

HOUSTON , Nov. 7, 2023 /PRNewswire/ -- Flotek Industries, Inc. ("Flotek" or the "Company") (NYSE: FTK) today announced operational and financial results for the third quarter ended September 30, 2023, highlighted by significant improvement in all profitability metrics, including net income and the first quarter of positive adjusted EBITDA(1) since the third quarter of 2018. The third quarter results build upon the Company's financial and operational momentum with nearly all financial metrics showing strong year-over-year growth.

Flotek Reports Third Quarter 2023 Financial Results Driven by Strong Growth in Net Income and First Positive Adjusted EBITDA Quarter Since 2018

HOUSTON , Oct. 10, 2023 /PRNewswire/ -- Flotek Industries, Inc. ("Flotek" or the "Company") (NYSE: FTK) today announced the Company's schedule for releasing its third quarter results for the period ended September 30, 2023.  The Company plans to release its third quarter 2023 financial and operating results press release after market close on Tuesday, November 7, 2023.

Flotek Announces Timing of Release of Third Quarter 2023 Earnings Results and Conference Call

HOUSTON , Sept. 20, 2023 /PRNewswire/ -- Flotek Industries, Inc. ("Flotek" or the "Company") (NYSE: FTK) today announced that it has appointed Tom Redlinger as Vice President of its rapidly expanding, high margin Data Analytics segment.

Flotek Bolsters Executive Leadership Team to Drive Innovation and Growth in Data Analytics Segment

HOUSTON , Sept. 14, 2023 /PRNewswire/ -- Flotek Industries, Inc. ("Flotek" or the "Company") (NYSE: FTK) today announced it expects to report positive adjusted EBITDA(1) for the quarter ending September 30, 2023, accelerating its previous estimate of achieving this financial metric before year-end.

Flotek Projects Achieving Financial Milestone in Third Quarter and Announces 1-for-6 Reverse Stock Split

HOUSTON , Aug. 21, 2023 /PRNewswire/ -- Flotek Industries, Inc. ("Flotek" or the "Company") (NYSE: FTK) today announced that the Company is scheduled to participate in a fireside chat with Water Tower Research on August 23, 2023, at 2:00 PM Eastern Time. Ryan Ezell, Chief Executive Officer, and Bond Clement, Chief Financial Officer, will discuss the growing market for Flotek's green chemistry solutions and the prospects for the company's Data Analytics segment, driven by adoption of the JP3 Verax Analyzers; how the Company's green chemistry technologies can drive improved performance for well owners; the Company's revenue growth opportunities with transactional chemistry customers and Flotek's significantly strengthened profitability, balance sheet and liquidity position.

Flotek to Participate in Water Tower Research Fireside Chat

HOUSTON , Aug. 17, 2023 /PRNewswire/ -- Flotek Industries, Inc. ("Flotek" or the "Company") (NYSE: FTK) today announced three internal executive appointments, marking the final step in solidifying the Company's leadership team as it focuses on strengthening its platform for continued growth and profitability. The promotions of Nathan Snoke to Senior Vice President – Global Business Lines, Shane Wise to Senior Vice President – Operations, and Andrea Berry to Vice President of People Operations are effective immediately.

FLOTEK SOLIDIFIES EXECUTIVE LEADERSHIP TEAM TO DRIVE CONTINUED GROWTH AND PROFITABILITY

HOUSTON , Aug. 14, 2023 /PRNewswire/ -- Flotek Industries, Inc. ("Flotek" or the "Company") (NYSE: FTK) today announced that it has entered into a revolving loan and security agreement in connection with an Asset Based Loan ("ABL") with Amerisource Funding, Inc. ("Lender"). The ABL provides for a 24-month term with up to $10 million of initial credit availability for eligible accounts receivable and eligible inventory.

Flotek Announces Entry into Asset Based Loan Agreement

Flotek Industries, Inc. (NYSE:FTK ) Q2 2023 Earnings Conference Call August 9, 2023 10:00 AM ET Company Participants Larry Busnardo – Investor Relations Ryan Ezell – Chief Executive Officer Bond Clement – Chief Financial Officer Conference Call Participants Don Crist – Johnson Rice Richard Dearnley – Longport Partners Operator Greetings, and welcome to the Flotek Industries Second Quarter 2023 Earnings Conference Call. At this time, all participants are in a listen-only mode.

Flotek Industries, Inc. (FTK) Q2 2023 Earnings Call Transcript

HOUSTON , Aug. 8, 2023 /PRNewswire/ -- Flotek Industries, Inc. ("Flotek" or the "Company") (NYSE: FTK) today announced significantly improved operational and financial results for the second quarter ended June 30, 2023. The second quarter results further build upon the Company's turn-around momentum as nearly all financial metrics showed strong sequential growth.

Flotek Reports Second Quarter 2023 Results Highlighted by 108% Sequential Growth in Gross Profit

HOUSTON , July 17, 2023 /PRNewswire/ -- Flotek Industries, Inc. ("Flotek" or the "Company") (NYSE: FTK) today announced that the Company will participate in EnerCom Denver – The Energy Investment Conference to be held in Denver, Colorado, August 14-16, 2023. Ryan Ezell, Chief Executive Officer of Flotek, is scheduled to present on August 15, 2023, at 8:50 a.m.

Flotek Announces Participation in EnerCom Denver - The Energy Investment Conference

Flotek Industries shows potential for a turnaround, despite currently fragile financials. The company's largest segment has seen sharp relative growth of 285% in Q1 2023, largely due to a contract with ProFrac. The company's dependence on ProFrac presents both a risk and a potential merger opportunity. A recession could further suppress oil and gas prices, making for a tougher business climate for Flotek Industries. For daring energy sector investors, the company's stock is a perfect instrument. Also, based on its history, the firm could flourish during another energy cycle.

Flotek Industries Is A Go Big Or Go Home Energy Sector Bet

HOUSTON , July 10, 2023 /PRNewswire/ -- Flotek Industries, Inc. ("Flotek" or the "Company") (NYSE: FTK) today announced the Company's schedule for releasing its second quarter results for the period ended June 30, 2023.  The Company plans to release its second quarter 2023 financial and operating results press release after market close on Tuesday, August 8, 2023.

FLOTEK ANNOUNCES TIMING OF RELEASE OF SECOND QUARTER 2023 EARNINGS RESULTS AND CONFERENCE CALL

HOUSTON , July 6, 2023 /PRNewswire/ -- Flotek Industries, Inc. ("Flotek" or the "Company") (NYSE: FTK) announced that the Company has adopted the following amendments to the Flotek Industries, Inc. 2012 Employee Stock Purchase Plan (as amended, the "Plan"): Removed the prior prohibition on executive officers participating in the Plan; Removed restrictions to allow highly compensated employees (within the meaning of Section 423(b)(4)(D) of the Internal Revenue Code of 1986, as amended) to participate in the Plan; Removed the 1,000 shares of Company common stock limit per employee per offering period under the Plan. These amendments will provide all employees, including the Company's officers, the ability to participate in the Plan and purchase shares of the Company's stock through payroll deductions up to a maximum of $25,000 per year.

FLOTEK ANNOUNCES KEY AMENDMENTS TO THE EMPLOYEE STOCK PURCHASE PLAN

Dr. Ezell Brings Over Two Decades of Leadership and Operating Experience in the Energy Industry Interim CEO Harsha V. Agadi To Be Appointed Non-Executive Chairman of the Board and Will Assist with the Leadership Transition HOUSTON , June 7, 2023 /PRNewswire/ -- Flotek Industries, Inc. ("Flotek" or the "Company") (NYSE: FTK), a leader in technology-driven specialty green chemistry and data analytics solutions, today announced that President Ryan Ezell has been named Chief Executive Officer of Flotek and will join the Board of Directors, effective June 8, 2023.

Flotek Promotes President Ryan Ezell to CEO

Flotek Industries, Inc. (NYSE:FTK ) Q1 2023 Earnings Conference Call May 9, 2023 10:30 AM ET Company Participants Wes Harris - Investor Relations Representative Bernie Colson - Senior Vice President, Corporate Development & Sustainability Harsha Agadi - Interim Chief Executive Officer Ryan Ezell - President Bond Clement - Chief Financial Officer Conference Call Participants Eric Swergold - Firestorm Capital Don Crist - Johnson Rice Operator Greetings everyone, and welcome to the Flotek Industries First Quarter 2023 Earnings Conference Call. At this time, all participants will be in listen-only mode.

Flotek Industries, Inc. (FTK) Q1 2023 Earnings Call Transcript

HOUSTON , May 8, 2023 /PRNewswire/ -- Flotek Industries, Inc. ("Flotek" or the "Company") (NYSE: FTK) today announced operational and financial results for the first quarter ended March 31, 2023. Financial Summary (in thousands) Q1 2023 Q4 2022 Percent Change Q1 2022 Percent Change Total Revenue $ 48,007 $ 48,217 0 % $ 12,879 273 % Gross Profit (Loss) $ 1,880 $ (2,074) 191 % $ (479) 492 % Adjusted Gross Profit (Loss) (1) $ 2,647 $ (522) 607 % $ (226) 1,271 % Net Income (Loss) $ 21,343 $ (19,026) 212 % $ (10,724) 299 % Adjusted EBITDA (1) $ (3,851) $ (5,079) 24 % $ (5,446) 29 % (1) A non-GAAP financial measure.

FLOTEK REPORTS POSITIVE GROSS PROFIT FOR FIRST QUARTER 2023 AND INITIATES 2023 GUIDANCE

HOUSTON , May 1, 2023 /PRNewswire/ -- Flotek Industries, Inc. ("Flotek" or the "Company") (NYSE: FTK) today announced the Company's schedule for releasing its first quarter results for the period ended March 31, 2023.  In a press release to be issued after market close on Monday, May 8, 2023, Flotek plans to release its financial and operating results for the first quarter of 2023.

FLOTEK ANNOUNCES TIMING OF RELEASE OF FIRST QUARTER 2023 EARNINGS RESULTS AND CONFERENCE CALL

Flotek Industries, Inc. ("Flotek" or the "Company") (NYSE: FTK) today announced it has received written notice from the New York Stock Exchange (the "NYSE") that the average closing price of the Company's shares of common stock was below $1.00 per share over a period of 30 consecutive trading days, which is below the requirement for continued listing on the NYSE.

FLOTEK RECEIVES CONTINUED LISTING STANDARD NOTICE FROM NYSE

Flotek Industries, Inc. ("Flotek" or the "Company") (NYSE: FTK) today announced that the Company is scheduled to participate in a fireside chat with Water Tower Research on April 20, 2023, at 11:00 AM Eastern Time.

FLOTEK TO PARTICIPATE IN WATER TOWER RESEARCH FIRESIDE CHAT

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Flotek Industries, Inc. (NYSE:FTK ) Q4 2022 Earnings Conference Call March 21, 2023 9:00 AM ET Company Participants Bernie Colson - Senior Vice President, Corporate Development & Sustainability Harsha Agadi - Interim Chief Executive Officer Ryan Ezell - President Bond Clement - Chief Financial Officer Conference Call Participants Don Crist - Johnson Rice Jeff Robertson - Water Tower Research Eric Swergold - Firestorm Capital Operator Good morning, and welcome to the Flotek Industries Fourth Quarter and Full-Year 2022 Conference Call. All participants will be in listen-only mode.

Flotek Industries, Inc. (FTK) Q4 2022 Earnings Call Transcript

The stock price of Flotek Industries Inc (NYSE: FTK) fell by 8.16% after hours in the most recent trading session. This is why.

FTK Stock: 8.16% Decrease After Hours Explanation

HOUSTON , March 20, 2023 /PRNewswire/ -- Flotek Industries, Inc. ("Flotek" or the "Company") (NYSE: FTK) today announced results for the fourth quarter and full-year ended December 31, 2022. Full year 2022 revenue of $136.1 million increased 215% compared to 2021 Amended ProFrac Supply Agreement provides incremental service fee on majority of products delivered under the agreement Adjusted EBITDA as a percentage of revenue improved for the sixth consecutive quarter Year-end cash and cash equivalents of $12.3 million Strong growth continued at JP3 with revenue up 20% sequentially New senior management team in place Harsha V.

ROBUST REVENUE GROWTH HIGHLIGHTS FLOTEK'S 2022 FINANCIAL RESULTS

Flotek has turned a corner and subject to the sideways movement of the OFS sector now, could be in for better days. New management is in place ala ProFrac and their 10-year contract for stimulation chemicals appear to be consistent with projections.

Flotek Industries: It's A Long, Long Way To The Top

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