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Financial Statements — NESR

Balance Sheet

(in billions USD)

Metric	Q2 2026	Q1 2026	Q4 2025	Q3 2025	Q2 2025	Q1 2025	Q4 2024	Q3 2024	Q2 2024	Q4 2023	Q4 2022	Q3 2021	Q2 2021	Q1 2021
Cash & Equivalents	0.17	0.09	0.12	0.07	0.13	0.08	0.11	0.12	0.07	0.07	0.08	0.10	0.07	0.09
Accounts Receivable	0.21	0.23	0.18	0.19	0.19	0.16	0.14	0.13	0.16	0.17	0.15	0.10	0.12	0.13
Inventory	0.13	0.10	0.09	0.10	0.10	0.10	0.10	0.10	0.10	0.10	0.11	0.10	0.10	0.10
Total Current Assets	0.82	0.69	0.63	0.60	0.62	0.55	0.54	0.58	0.56	0.54	0.54	0.53	0.49	0.50
Property, Plant & Equipment	0.53	0.48	0.47	0.44	0.42	0.43	0.44	0.43	0.42	0.44	0.46	0.47	0.45	0.42
Goodwill	0.65	0.65	0.65	0.65	0.65	0.65	0.65	0.65	0.65	0.65	0.65	0.63	0.63	0.62
Intangible Assets	0.04	0.04	0.05	0.05	0.06	0.06	0.07	0.07	0.08	0.08	0.10	0.13	0.13	0.11
Total Non-current Assets*	1.28	1.23	1.22	1.21	1.21	1.21	1.23	1.23	1.23	0.44	0.46	0.47	0.45	0.42
Total Assets	2.10	1.92	1.85	1.81	1.83	1.77	1.77	1.80	1.79	1.80	1.83	1.77	1.71	1.65
Accounts Payable	0.60	0.48	0.42	0.36	0.35	0.31	0.31	0.35	0.37	0.35	0.35	0.14	0.14	0.14
Short-term Debt	0.05	0.05	0.05	0.06	0.07	0.06	0.06	0.05	0.03	0.05	0.09	0.10	0.06	0.04
Total Current Liabilities	0.80	0.66	0.60	0.54	0.56	0.50	0.50	0.52	0.52	0.53	0.54	0.37	0.35	0.33
Long-term Debt	0.22	0.24	0.26	0.27	0.29	0.31	0.33	0.36	0.38	0.41	0.45	0.33	0.35	0.35
Total Non-current Liabilities*	0.25	0.27	0.28	0.31	0.33	0.35	0.36	0.41	0.41	0.44	0.48	0.41	0.37	0.36
Total Liabilities	1.06	0.93	0.88	0.85	0.89	0.85	0.87	0.93	0.94	0.98	1.03	0.78	0.72	0.68
Retained Earnings	0.13	0.09	0.07	0.06	0.04	0.02	0.01	(0.01)	(0.03)	(0.06)	(0.08)	0.13	0.13	0.12
Total Stockholder Equity*	1.04	1.00	0.97	0.96	0.94	0.92	0.91	0.87	0.85	0.82	0.80	0.99	0.98	0.97

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* Derived from reported values

Income Statement

(in millions USD) (except per-share rows)

Metric	Q2 2026	Q1 2026	Q3 2025	Q2 2025	Q1 2025	Q3 2024	Q2 2024	Q3 2021	Q2 2021	Q1 2021
Total Revenue	520.75	404.59	295.32	327.37	303.10	336.21	324.97	217.99	234.93	212.43
Cost of Revenue	439.46	352.76	259.96	283.48	265.65	282.79	271.83	186.10	193.93	174.31
Gross Profit	81.29	51.83	35.36	43.88	37.46	53.41	53.14	31.90	41.00	38.12
Selling, General & Admin	12.02	11.10	11.06	12.10	11.82	13.27	14.33	19.07	22.38	18.15
Total Operating Expenses	16.45	15.80	15.75	16.79	16.51	17.96	19.02	23.80	26.88	22.15
Operating Income	64.84	36.03	19.61	27.09	20.94	35.45	34.12	8.10	14.12	15.96
Interest Expense	7.04	6.54	--	8.56	8.28	9.93	9.44	3.72	3.23	3.16
Pretax Income	58.92	30.94	12.24	19.47	13.72	25.91	24.86	3.13	10.23	13.08
Tax Provision	14.90	7.11	(5.50)	4.27	3.33	5.29	5.99	1.20	2.41	1.61
Net Income	44.02	23.83	17.74	15.20	10.39	20.62	18.87	1.93	7.82	11.47
Basic EPS	0.44	0.24	0.18	0.16	0.11	0.22	0.20	0.02	0.09	0.13
Diluted EPS	0.43	0.23	0.18	0.16	0.11	0.22	0.20	0.02	0.08	0.12

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Cash Flow Statement

(in millions USD)

Metric	Q2 2026	Q1 2026	Q3 2025	Q2 2025	Q1 2025	Q3 2024	Q2 2024	Q3 2021	Q2 2021	Q1 2021
Operating Cash Flow	174.01	30.75	125.65	118.97	20.49	183.07	112.28	114.77	79.47	46.48
Capital Expenditures	74.10	36.00	100.62	59.87	30.12	80.05	52.70	--	--	--
Free Cash Flow*	99.91	(5.26)	25.03	59.10	(9.64)	103.02	59.58	--	--	--
Investing Cash Flow	(73.12)	(36.43)	(106.78)	(62.43)	(31.49)	(84.16)	(56.71)	(88.86)	(71.81)	(13.13)
Financing Cash Flow	(18.25)	(25.30)	(57.14)	(32.70)	(18.26)	(48.56)	(48.40)	0.06	(16.63)	(19.13)

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* Derived from reported values