0001401257-26-000042
SEC filingForum Energy Technologies issued an 8-K/A amending its Q4 2025 earnings release, reporting $202 million revenue, $2 million net income, and full-year 2026 guidance of $800-880 million revenue and $90-110 million adjusted EBITDA.
Forum Energy Technologies' Q4 2025 results showed revenue growth to $202.2 million, up 8% in Drilling and Completions from strong international demand for capital equipment, subsea ROVs, and coiled line pipe, despite a 4% decline in Artificial Lift revenue due to lower production equipment volumes. Adjusted EBITDA reached $23 million, reflecting improved operational efficiency and favorable product mix in sand and flow control. Management highlighted backlog expansion to $312 million—the highest in 11 years and 46% above last year—with nearly 12% from recently developed products, underscoring the success of the 'Beat the Market' strategy and market share gains via global footprint leverage. Full-year 2025 free cash flow of $80 million, driven by higher EBITDA, working capital efficiency, and asset monetization, enabled repurchasing 11% of shares outstanding and reducing net debt by 28%. For 2026, despite flat global market activity, the company guides revenue growth of 6% at midpoint, 16% adjusted EBITDA increase, and 65% free cash flow conversion, supported by backlog execution, cost reductions, and continued market share gains, positioning FET toward its 2030 vision.