NCS Multistage Holdings, Inc.

NCS Multistage Holdings, Inc. reported strong financial performance for FY 2025, with total revenue increasing to $183.6 million from $162.6 million in FY 2024. Net income attributable to NCS surged to $23.7 million from $6.6 million in the prior year, driven by revenue growth and a significant income tax benefit of $9.2 million. The company generated $22.2 million in net cash from operating activities, ending the year with $36.7 million in cash and cash equivalents. Total assets grew to $181.2 million from $152.8 million, supported by the acquisition of ResMetrics. Key performance drivers included increased product sales and services revenue across all geographic segments, with Canada remaining the largest market at 58% of revenue. The company reversed substantially all valuation allowances against deferred tax assets in its Canadian and U.S. operating subsidiaries, contributing to the improved profitability.

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