v3.25.4

CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Dec. 31, 2025	Dec. 31, 2024
Current assets
Cash and cash equivalents	$ 18,449	$ 27,880
Restricted cash	1,393	0
Accounts receivable, net	75,979	81,157
Income taxes receivable	0	284
Inventories, net	56,553	50,781
Prepaid expenses	13,538	9,982
Other current assets	2,919	380
Total current assets	168,831	170,464
Property and equipment, net	64,266	70,518
Operating lease right of use assets, net	34,105	37,252
Finance lease right of use assets, net	16	29
Intangible assets, net	68,063	79,246
Other long-term assets	4,183	2,567
Total assets	339,464	360,076
Current liabilities
Accounts payable	43,564	36,052
Accrued expenses	27,764	30,676
Income taxes payable	356	0
Current portion of long-term debt	6,310	3,580
Current portion of operating lease obligations	13,409	11,216
Current portion of finance lease obligations	6	21
Total current liabilities	91,409	81,545
Long-term liabilities
Long-term debt	341,572	317,264
Long-term operating lease obligations	21,352	26,710
Other long-term liabilities	87	621
Total liabilities	454,420	426,140
Commitments and contingencies (Note 12)
Stockholders’ equity (deficit)
Common stock (120,000,000 shares authorized at $0.01 par value; 43,326,339 and 42,348,643 shares issued and outstanding at December 31, 2025 and 2024 respectively)	433	423
Additional paid-in capital	808,432	806,231
Accumulated other comprehensive loss	(5,187)	(5,406)
Accumulated deficit	(918,634)	(867,312)
Total stockholders’ equity (deficit)	(114,956)	(66,064)
Total liabilities and stockholders’ equity (deficit)	339,464	360,076
Technology
Current assets
Intangible assets, net	62,971	71,376
Customer relationships
Current assets
Intangible assets, net	$ 5,092	$ 7,870

Carrying value as of the balance sheet date of liabilities incurred (and for which invoices have typically been received) and payable to vendors for goods and services received that are used in an entity's business. Used to reflect the current portion of the liabilities (due within one year or within the normal operating cycle if longer).

Nine Energy Service, Inc. 10-K