The following is a summary of the NCS Multistage Holdings, Inc. (NCSM) Q1 2024 Earnings Call Transcript:

Financial Performance:

• NCS Multistage Holdings reported Q1 2024 revenue of $43.9 million, exceeding expectations by nearly $4 million.

• The adjusted gross margin for Q1 2024 was 40%.

• SG&A expenses for the period amounted to $13.8 million, which is a reduction of $2.3 million when compared to the same period last year.

• The company saw sequential and year-on-year improvement in Q1 adjusted EBITDA, which amounted to $6.1 million.

• For Q2 2024, the company anticipates revenue between $27 million and $30 million, indicating strong potential to generate over $5 million in free cash flow for 2024.

Business Progress:

• NCS Multistage achieved significant growth in the Canadian and international markets, particularly in the North Sea and Middle East.

• By introducing new technologies to meet customer needs, the company was able to break into new markets.

• Besides progress in securing field trials for new products, revenue growth for the year is projected to come primarily from increased sales from Repeat Precision and international markets.

• Revenue for the full year of 2024 is estimated to fall within the range of $150 million to $160 million with an adjusted EBITDA range of $14.5 million to $17.5 million.

• The company has detailed plans to reach deeper into the Middle East market, and is considering investing in the region.

• Ongoing projects in the US involve incorporating fiber optics for optimizing horizontal water flood programs.

More details: NCS Multistage IR

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