v3.26.1

CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Mar. 31, 2026	Mar. 05, 2026	Dec. 31, 2025	Mar. 31, 2025	Dec. 31, 2024
Current assets
Cash and cash equivalents	$ 11,249	$ 17,824	$ 18,449
Restricted cash	10,616	10,616	1,393
Accounts receivable, net	88,270	79,124	75,979
Inventories, net	50,550	50,400	56,553
Prepaid expenses	12,106	12,145	13,538
Other current assets	2,064	2,044	2,919
Total current assets	174,855	172,153	168,831
Property and equipment, net	109,013	107,499	64,266
Fair value adjustment to operating lease right-of-use assets	32,482	31,261	34,105
Finance lease right of use assets, net	52	55	16
Intangible assets, net	9,103	9,171	68,063
Other long-term assets	535	536	4,183
Total assets	326,040	320,675	339,464
Current liabilities
Accounts payable	41,453	39,070	43,564
Accrued expenses	23,662	20,645	27,764
Income taxes payable	374	465	356
Current portion of long-term debt	3,978	4,760	6,310
Current portion of operating lease obligations	12,454	11,695	13,409
Current portion of finance lease obligations	50	55	6
Total current liabilities	81,971	76,690	91,409
Long-term liabilities
Long-term debt	90,439	90,305	341,572
Long-term operating lease obligations	19,602	18,389	21,352
Other long-term liabilities	45	87	87
Total liabilities	192,057	185,471	454,420
Commitments and contingencies (Note 11)
Stockholders’ equity (deficit)
Predecessor common stock (120,000,000 shares authorized at $0.01 par value; 43,326,339 shares issued and outstanding at December 31, 2025)	139		433
Additional paid-in capital	135,065		808,432
Accumulated other comprehensive income (loss)	32	0	(5,187)
Accumulated deficit	(1,253)	0	(918,634)
Total stockholders’ equity (deficit)	133,983	135,204	(114,956)	$ (72,113)	$ (66,064)
Total liabilities and stockholders’ equity (deficit)	$ 326,040	$ 320,675	$ 339,464

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-Q