FTK · Flotek Industries, Inc.

Flotek Industries delivered strong Q1 2026 results with total revenues of $70.1 million, a 27% increase from $55.4 million in Q1 2025, primarily fueled by explosive 295% growth in Data Analytics to $10.4 million, including 785% service revenue expansion, while Chemistry Technologies rose 13% to $59.7 million, its highest quarterly level in over seven years. Gross profit improved 25% to $15.5 million (22% margin), with Data Analytics now comprising 50% of gross profit versus 8% last year, reflecting a strategic shift to higher-margin recurring streams. Adjusted EBITDA surged 44% to $9.1 million despite a 64% drop in minimum purchase requirements revenue from the ProFrac agreement ($2.7M vs $7.5M). Net income dipped 13% to $4.7 million or $0.12 diluted EPS due to a higher effective tax rate following partial valuation allowance release. SG&A rose modestly to $6.9 million (10% of revenue) from elevated stock compensation. CEO Dr. Ryan Ezell highlighted Data Analytics surpassing Chemistry as the largest profit contributor in 2026, bolstered by the first power services contract mobilizing in late March, new wins like 21 PWRtek units and XSPCT orders, and recognition of XSPCT as 2026 Product of the Year. Guidance reinforces momentum: $270-290 million revenue and $36-41 million Adjusted EBITDA, supported by $34.1 million Q2-Q4 Data Analytics backlog and over $90 million three-year backlog, signaling sustained transformational growth beyond traditional oilfield applications into power generation and infrastructure.