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Table of Contents

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UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

WASHINGTON, D.C. 20549

FORM 10-Q

☑ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF

THE SECURITIES EXCHANGE ACT OF 1934

For the quarterly period ended June 30, 2026

or

☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF

THE SECURITIES EXCHANGE ACT OF 1934

For the transition period from __________to__________

Commission File No. 001-08726

RPC, INC.

(Exact name of registrant as specified in its charter)

Delaware | ​ ​ ​ | 58-1550825
(State or other jurisdiction of incorporation or organization) |  | (I.R.S. Employer Identification Number)

​

​

2801 Buford Highway, Suite 300, Atlanta, Georgia 30329
(Address of principal executive offices) | (Zip code)

(404) 321-2140

(Registrant’s telephone number, including area code)

Securities Registered under Section 12(b) of the Act:

| ​ |  | ​ |
Title of each class: | ​ ​ ​ | Trading Symbol(s) | ​ ​ ​ | Name of each exchange on which registered:
Common stock, par value $0.10 | ​ | RES | ​ | New York Stock Exchange

​

Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the Registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days. Yes ☒ No ☐

Indicate by check mark whether the registrant has submitted electronically, if any, every Interactive Data File required to be submitted pursuant to Rule 405 of Regulation S-T (§232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit such files). Yes ☒ No ☐

Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smaller reporting company or an emerging growth company. See definitions of “large accelerated filer,” “accelerated filer,” “smaller reporting company,” and “emerging growth company” in Rule 12b-2 of the Exchange Act.

​ | ​ | ​ | ​
Large accelerated filer | ☐ | Accelerated filer | ☒
Non-accelerated filer | ☐ | Smaller reporting company | ☐
​ | ​ | Emerging growth company | ☐

​

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act). Yes ☐ No ☒

As of July 24, 2026, RPC, Inc. had 221,657,012 shares of common stock outstanding.

​

​

​

​

Table of Contents

RPC, INC. AND SUBSIDIARIES

Table of Contents

​ | ​ | ​ ​ ​ | Page No.
Part I. Financial Information | ​ | ​
​ | ​ | ​ | ​
Item 1. | Financial Statements (Unaudited) | ​ | ​
​ | ​ | ​ | ​
​ | Consolidated Balance Sheets – As of June 30, 2026, and December 31, 2025 | ​ | 3
​ | ​ | ​ | ​
​ | Consolidated Statements of Operations – For the three and six months ended June 30, 2026, and 2025 | ​ | 4
​ | ​ | ​ | ​
​ | Consolidated Statements of Comprehensive Income – For the three and six months ended June 30, 2026, and 2025 | ​ | 5
​ | ​ | ​ | ​
​ | Consolidated Statements of Stockholders’ Equity – For the three and six months ended June 30, 2026, and 2025 | ​ | 6
​ | ​ | ​ | ​
​ | Consolidated Statements of Cash Flows – For the six months ended June 30, 2026, and 2025 | ​ | 7
​ | ​ | ​ | ​
​ | Notes to Consolidated Financial Statements | ​ | 8 –19
​ | ​ | ​ | ​
Item 2. | Management’s Discussion and Analysis of Financial Condition and Results of Operations | ​ | 20 – 29
​ | ​ | ​ | ​
Item 3. | Quantitative and Qualitative Disclosures about Market Risk | ​ | 29
​ | ​ | ​ | ​
Item 4. | Controls and Procedures | ​ | 29
​ | ​ | ​ | ​
Part II. Other Information | ​ | ​
​ | ​ | ​ | ​
Item 1. | Legal Proceedings | ​ | 30
​ | ​ | ​ | ​
Item 1A. | Risk Factors | ​ | 30
​ | ​ | ​ | ​
Item 2. | Unregistered Sales of Equity Securities, Use of Proceeds and Issuer Purchases of Equity Securities | ​ | 30
​ | ​ | ​ | ​
Item 3. | Defaults upon Senior Securities | ​ | 30
​ | ​ | ​ | ​
Item 4. | Mine Safety Disclosures | ​ | 30
​ | ​ | ​ | ​
Item 5. | Other Information | ​ | 30
​ | ​ | ​ | ​
Item 6. | Exhibits | ​ | 31
​ | ​ | ​ | ​
Signatures | ​ | 32

​

​

​

2

Table of Contents

​

PART I. FINANCIAL INFORMATION

ITEM 1. FINANCIAL STATEMENTS

​

RPC, INC. AND SUBSIDIARIES

​

CONSOLIDATED BALANCE SHEETS

AS OF JUNE 30, 2026, AND DECEMBER 31, 2025

(In thousands, except share and par value data)

​

​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | June 30, | ​ | December 31,
​ | ​ ​ ​ | 2026 | ​ ​ ​ | 2025
ASSETS | ​ | ​ | (Unaudited) | ​ | ​ | (Note 1)
Cash and cash equivalents | ​ | $ | 179,468 | ​ | $ | 209,974
Accounts receivable, net | ​ | ​ | 378,538 | ​ | ​ | 327,668
Inventories | ​ |  | 125,793 | ​ |  | 119,004
Income taxes receivable | ​ |  | 3,411 | ​ |  | 6,302
Prepaid expenses | ​ |  | 15,544 | ​ |  | 18,307
Other current assets | ​ |  | 23,220 | ​ |  | 23,215
Total current assets | ​ |  | 725,974 | ​ |  | 704,470
Property, plant and equipment, net | ​ | ​ | 519,012 | ​ | ​ | 531,556
Operating lease right-of-use assets | ​ | ​ | 19,466 | ​ | ​ | 24,094
Finance lease right-of-use assets | ​ | ​ | 1,623 | ​ | ​ | 1,934
Goodwill | ​ |  | 81,249 | ​ |  | 83,422
Other intangibles, net | ​ | ​ | 93,764 | ​ | ​ | 97,499
Other assets | ​ |  | 18,667 | ​ |  | 25,410
Total assets | ​ | $ | 1,459,755 | ​ | $ | 1,468,385
​ | ​ | ​ | ​ | ​ | ​ | ​
LIABILITIES AND STOCKHOLDERS’ EQUITY | ​ |  | ​ | ​ |  | ​
LIABILITIES | ​ |  | ​ | ​ |  | ​
Accounts payable | ​ | $ | 146,966 | ​ | $ | 119,757
Accrued payroll and related expenses | ​ |  | 33,188 | ​ |  | 38,636
Accrued insurance expenses | ​ |  | 8,063 | ​ |  | 7,194
Accrued state, local and other taxes | ​ |  | 6,066 | ​ |  | 3,543
Income taxes payable | ​ |  | 896 | ​ |  | 787
Unearned revenue | ​ | ​ | — | ​ | ​ | 13,233
Current portion of operating lease liabilities | ​ | ​ | 5,759 | ​ | ​ | 7,606
Current portion of finance lease liabilities | ​ | ​ | 941 | ​ | ​ | 977
Current portion of notes payable | ​ | ​ | 10,000 | ​ | ​ | 20,000
Accrued expenses and other liabilities | ​ |  | 5,434 | ​ |  | 5,419
Total current liabilities | ​ |  | 217,313 | ​ |  | 217,152
Accrued insurance expenses | ​ |  | 17,254 | ​ |  | 15,570
Notes payable | ​ | ​ | 20,000 | ​ | ​ | 30,000
Operating lease liabilities | ​ |  | 14,423 | ​ |  | 17,762
Finance lease liabilities | ​ | ​ | 756 | ​ | ​ | 1,041
Other long-term liabilities | ​ | ​ | 6,941 | ​ | ​ | 10,814
Deferred income taxes | ​ |  | 74,319 | ​ |  | 76,875
Total liabilities | ​ |  | 351,006 | ​ |  | 369,214
Commitments and contingencies (Note 13) | ​ |  | ​ | ​ |  | ​
​ | ​ | ​ | ​ | ​ | ​ | ​
STOCKHOLDERS’ EQUITY | ​ |  | ​ | ​ |  | ​
Preferred stock, $0.10 par value, 1,000,000 shares authorized, none issued | ​ |  | — | ​ |  | —
Common stock, $0.10 par value, 349,000,000 shares authorized, 221,657,012 and 220,571,673 shares issued and outstanding in 2026 and 2025, respectively | ​ |  | 22,166 | ​ |  | 22,057
Capital in excess of par value | ​ |  | — | ​ |  | —
Retained earnings | ​ |  | 1,089,403 | ​ |  | 1,079,664
Accumulated other comprehensive loss | ​ |  | (2,820) | ​ |  | (2,550)
Total stockholders’ equity | ​ |  | 1,108,749 | ​ |  | 1,099,171
Total liabilities and stockholders’ equity | ​ | $ | 1,459,755 | ​ | $ | 1,468,385

​

The accompanying notes are an integral part of these consolidated financial statements.

​

3

Table of Contents

RPC, INC. AND SUBSIDIARIES

​

CONSOLIDATED STATEMENTS OF OPERATIONS

FOR THE THREE AND SIX MONTHS ENDED JUNE 30, 2026, AND 2025

(In thousands except per share data)

(Unaudited)

​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Three months ended | ​ | Six months ended June 30,
​ | ​ | June 30, | ​ | June 30,
​ | ​ ​ ​ | 2026 | ​ ​ ​ | 2025 | ​ ​ ​ | 2026 | ​ ​ ​ | 2025
Revenues | ​ | $ | 460,869 | ​ | $ | 420,809 | ​ | $ | 915,624 | ​ | $ | 753,686
COSTS AND EXPENSES: | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Cost of revenues (exclusive of depreciation and amortization shown separately below) |  | ​ | 345,718 |  | ​ | 317,746 |  | ​ | 701,303 |  | ​ | 561,641
Selling, general and administrative expenses |  | ​ | 51,523 |  | ​ | 40,825 |  | ​ | 99,730 |  | ​ | 83,324
Acquisition related employment costs | ​ | ​ | 7,291 | ​ | ​ | 6,554 | ​ | ​ | 14,583 | ​ | ​ | 6,554
Depreciation and amortization |  | ​ | 42,982 |  | ​ | 42,347 |  | ​ | 85,836 |  | ​ | 77,970
Gain on disposition of assets, net |  | ​ | (1,416) |  | ​ | (2,199) |  | ​ | (3,219) |  | ​ | (3,725)
Operating income |  | ​ | 14,771 |  | ​ | 15,536 |  | ​ | 17,391 |  | ​ | 27,922
Interest expense |  | ​ | (671) |  | ​ | (1,007) |  | ​ | (1,501) |  | ​ | (1,138)
Interest income |  | ​ | 1,546 |  | ​ | 1,618 |  | ​ | 3,316 |  | ​ | 5,013
Other income, net |  | ​ | 929 |  | ​ | 1,152 |  | ​ | 1,678 |  | ​ | 2,037
Income before income taxes |  | ​ | 16,575 |  | ​ | 17,299 |  | ​ | 20,884 |  | ​ | 33,834
Income tax provision |  | ​ | 4,500 |  | ​ | 7,151 |  | ​ | 7,954 |  | ​ | 11,656
Net income | ​ | $ | 12,075 | ​ | $ | 10,148 | ​ | $ | 12,930 | ​ | $ | 22,178
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Earnings per share | ​ |  | ​ | ​ |  | ​ | ​ |  | ​ | ​ |  | ​
Basic | ​ | $ | 0.05 | ​ | $ | 0.05 | ​ | $ | 0.06 | ​ | $ | 0.10
Diluted | ​ | $ | 0.05 | ​ | $ | 0.05 | ​ | $ | 0.06 | ​ | $ | 0.10

​

The accompanying notes are an integral part of these consolidated financial statements.

​

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RPC, INC. AND SUBSIDIARIES

​

CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME

FOR THE THREE AND SIX MONTHS ENDED JUNE 30, 2026, AND 2025

(In thousands)

(Unaudited)

​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Three months ended | ​ | Six months ended
​ | ​ | June 30, | ​ | June 30,
​ | ​ ​ ​ | 2026 | ​ ​ ​ | 2025 | ​ ​ ​ | 2026 | ​ ​ ​ | 2025
Net income | ​ | $ | 12,075 | ​ | $ | 10,148 | ​ | $ | 12,930 | ​ | $ | 22,178
Other comprehensive income (loss): | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Foreign currency translation |  | ​ | (157) |  | ​ | 291 |  | ​ | (270) |  | ​ | 298
Comprehensive income | ​ | $ | 11,918 | ​ | $ | 10,439 | ​ | $ | 12,660 | ​ | $ | 22,476

​

The accompanying notes are an integral part of these consolidated financial statements.

​

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​

CONSOLIDATED STATEMENTS OF STOCKHOLDERS’ EQUITY

FOR THE THREE AND SIX MONTHS ENDED JUNE 30, 2026, AND 2025

(In thousands)

(Unaudited)

​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Six months ended June 30, 2026
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | Accumulated | ​ | ​ | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | Capital in | ​ | ​ | ​ | ​ | Other | ​ | ​ | ​
​ | ​ | Common Stock | ​ | Excess of | ​ | Retained | ​ | Comprehensive | ​ | ​ | ​
​ | ​ ​ ​ | Shares | ​ ​ ​ | Amount | ​ ​ ​ | Par Value | ​ ​ ​ | Earnings | ​ ​ ​ | Loss | ​ ​ ​ | Total
Balance, December 31, 2025 |  | 220,572 | ​ | $ | 22,057 | ​ | $ | — | ​ | $ | 1,079,664 | ​ | $ | (2,550) | ​ | $ | 1,099,171
Stock issued for stock incentive plans, net |  | 1,607 | ​ |  | 161 | ​ |  | 3,337 | ​ |  | — | ​ |  | — | ​ |  | 3,498
Stock purchased and retired |  | (541) | ​ |  | (54) | ​ |  | (3,337) | ​ |  | (61) | ​ |  | — | ​ |  | (3,452)
Net income |  | — | ​ |  | — | ​ |  | — | ​ |  | 855 | ​ |  | — | ​ |  | 855
Cash dividends ($0.04 per share) |  | — | ​ |  | — | ​ |  | — | ​ |  | (8,865) | ​ |  | — | ​ |  | (8,865)
Acquisition related employment costs, net of taxes |  | — | ​ |  | — | ​ |  | — | ​ |  | 5,208 | ​ |  | — | ​ |  | 5,208
Foreign currency translation |  | — | ​ |  | — | ​ |  | — | ​ |  | — | ​ |  | (113) | ​ |  | (113)
Balance, March 31, 2026 | ​ | 221,638 | ​ | ​ | 22,164 | ​ | ​ | — | ​ | ​ | 1,076,801 | ​ | ​ | (2,663) | ​ | ​ | 1,096,302
Stock issued for stock incentive plans, net | ​ | 19 | ​ | ​ | 2 | ​ | ​ | 4,182 | ​ | ​ | — | ​ | ​ | — | ​ | ​ | 4,184
Stock purchased and retired | ​ | — | ​ | ​ | — | ​ | ​ | (4,182) | ​ | ​ | 4,182 | ​ | ​ | — | ​ | ​ | —
Net income | ​ | — | ​ | ​ | — | ​ | ​ | — | ​ | ​ | 12,075 | ​ | ​ | — | ​ | ​ | 12,075
Cash dividends ($0.04 per share) | ​ | — | ​ | ​ | — | ​ | ​ | — | ​ | ​ | (8,864) | ​ | ​ | — | ​ | ​ | (8,864)
Acquisition related employment costs, net of taxes | ​ | — | ​ | ​ | — | ​ | ​ | — | ​ | ​ | 5,209 | ​ | ​ | — | ​ | ​ | 5,209
Foreign currency translation | ​ | — | ​ | ​ | — | ​ | ​ | — | ​ | ​ | — | ​ | ​ | (157) | ​ | ​ | (157)
Balance, June 30, 2026 | ​ | 221,657 | ​ | $ | 22,166 | ​ | $ | — | ​ | $ | 1,089,403 | ​ | $ | (2,820) | ​ | $ | 1,108,749

​

​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Six months ended June 30, 2025
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | Accumulated | ​ | ​ | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | Capital in | ​ | ​ | ​ | ​ | Other | ​ | ​ | ​
​ | ​ | Common Stock | ​ | Excess of | ​ | Retained | ​ | Comprehensive | ​ | ​ | ​
​ | ​ ​ ​ | Shares | ​ ​ ​ | Amount | ​ ​ ​ | Par Value | ​ ​ ​ | Earnings | ​ ​ ​ | Loss | ​ ​ ​ | Total
Balance, December 31, 2024 |  | 214,942 | ​ | $ | 21,494 | ​ | $ | — | ​ | $ | 1,059,625 | ​ | $ | (2,828) | ​ | $ | 1,078,291
Stock issued for stock incentive plans, net |  | 1,501 | ​ |  | 150 | ​ |  | 2,629 | ​ |  | — | ​ |  | — | ​ |  | 2,779
Stock purchased and retired |  | (424) | ​ |  | (42) | ​ |  | (2,629) | ​ |  | (197) | ​ |  | — | ​ |  | (2,868)
Net income |  | — | ​ |  | — | ​ |  | — | ​ |  | 12,030 | ​ |  | — | ​ |  | 12,030
Cash dividends ($0.04 per share) | ​ | — | ​ |  | — | ​ |  | — | ​ |  | (8,653) | ​ |  | — | ​ | ​ | (8,653)
Foreign currency translation |  | — | ​ |  | — | ​ |  | — | ​ |  | — | ​ |  | 7 | ​ |  | 7
Balance, March 31, 2025 | ​ | 216,019 | ​ | ​ | 21,602 | ​ | ​ | — | ​ | ​ | 1,062,805 | ​ | ​ | (2,821) | ​ | ​ | 1,081,586
Stock issued for stock incentive plans, net | ​ | 4,598 | ​ | ​ | 460 | ​ | ​ | 2,885 | ​ | ​ | — | ​ | ​ | — | ​ | ​ | 3,345
Stock purchased and retired | ​ | — | ​ | ​ | — | ​ | ​ | (2,885) | ​ | ​ | 2,885 | ​ | ​ | — | ​ | ​ | —
Net income | ​ | — | ​ | ​ | — | ​ | ​ | — | ​ | ​ | 10,148 | ​ | ​ | — | ​ | ​ | 10,148
Cash dividends ($0.04 per share) | ​ | — | ​ | ​ | — | ​ | ​ | — | ​ | ​ | (8,825) | ​ | ​ | — | ​ | ​ | (8,825)
Acquisition related employment costs, net of taxes | ​ | — | ​ | ​ | — | ​ | ​ | — | ​ | ​ | 4,470 | ​ | ​ | — | ​ | ​ | 4,470
Foreign currency translation | ​ | — | ​ | ​ | — | ​ | ​ | — | ​ | ​ | — | ​ | ​ | 291 | ​ | ​ | 291
Balance, June 30, 2025 |  | 220,617 | ​ | $ | 22,062 | ​ | $ | — | ​ | $ | 1,071,483 | ​ | $ | (2,530) | ​ | $ | 1,091,015

​

The accompanying notes are an integral part of these consolidated financial statements.

​

​

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RPC, INC. AND SUBSIDIARIES

​

CONSOLIDATED STATEMENTS OF CASH FLOWS

FOR THE SIX MONTHS ENDED JUNE 30, 2026, AND 2025

(In thousands)

(Unaudited)

​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Six months ended June 30,
​ | ​ ​ ​ | 2026 | ​ ​ ​ | 2025
OPERATING ACTIVITIES | ​ | ​ | ​ | ​ | ​ | ​
Net income | ​ | $ | 12,930 | ​ | $ | 22,178
Adjustments to reconcile net income to net cash provided by operating activities: |  | ​ | ​ |  | ​ | ​
Depreciation and amortization |  | ​ | 85,836 |  | ​ | 77,970
Stock-based compensation expense |  | ​ | 7,682 |  | ​ | 6,124
Gain on disposition of assets, net |  | ​ | (3,219) |  | ​ | (3,725)
Deferred income tax benefit |  | ​ | (2,556) |  | ​ | (3,772)
Acquisition related employment costs | ​ | ​ | 14,583 | ​ | ​ | 6,554
Other non-cash adjustments | ​ | ​ | 119 | ​ | ​ | (193)
(Increase) decrease in assets: |  | ​ | ​ |  | ​ | ​
Accounts receivable |  | ​ | (50,996) |  | ​ | 39,678
Income taxes receivable |  | ​ | 2,891 |  | ​ | 3,027
Inventories |  | ​ | (6,948) |  | ​ | (2,317)
Prepaid expenses |  | ​ | 2,762 |  | ​ | 2,524
Other current assets |  | ​ | (164) |  | ​ | (579)
Retirement plan assets | ​ | ​ | — | ​ | ​ | (823)
Other non-current assets |  | ​ | 2,576 |  | ​ | (1,213)
(Decrease) increase in liabilities: |  | ​ | ​ |  | ​ | ​
Accounts payable |  | ​ | 26,934 |  | ​ | (21,350)
Income taxes payable |  | ​ | 109 |  | ​ | 4,725
Unearned revenue | ​ | ​ | (13,233) | ​ | ​ | (45,376)
Accrued payroll and related expenses |  | ​ | (5,388) |  | ​ | 1,644
Accrued insurance expenses |  | ​ | 869 |  | ​ | 433
Accrued state, local and other taxes |  | ​ | 2,523 |  | ​ | 2,494
Other accrued expenses | ​ | ​ | (1,964) | ​ | ​ | 273
Retirement plan liabilities |  | ​ | — |  | ​ | (767)
Long-term accrued insurance expenses |  | ​ | 1,684 |  | ​ | 1,412
Other long-term liabilities |  | ​ | (2,423) |  | ​ | 4,022
Net cash provided by operating activities |  | ​ | 74,607 |  | ​ | 92,943
​ | ​ | ​ | ​ | ​ | ​ | ​
INVESTING ACTIVITIES |  | ​ | ​ |  | ​ | ​
Capital expenditures |  | ​ | (70,837) |  | ​ | (75,323)
Proceeds from sale of assets |  | ​ | 7,421 |  | ​ | 9,496
Purchase of business, net of cash and debt assumed |  | ​ | — |  | ​ | (165,656)
Net cash used for investing activities |  | ​ | (63,416) |  | ​ | (231,483)
​ | ​ | ​ | ​ | ​ | ​ | ​
FINANCING ACTIVITIES |  | ​ | ​ |  | ​ | ​
Payment of dividends |  | ​ | (17,729) |  | ​ | (17,478)
Repayment of debt |  | ​ | (20,000) |  | ​ | (4,502)
Cash paid for common stock purchased and retired |  | ​ | (3,452) |  | ​ | (2,868)
Cash paid for finance lease | ​ | ​ | (516) | ​ | ​ | (474)
Net cash used for financing activities |  | ​ | (41,697) |  | ​ | (25,322)
​ | ​ | ​ | ​ | ​ | ​ | ​
Net decrease in cash and cash equivalents |  | ​ | (30,506) |  | ​ | (163,862)
Cash and cash equivalents at beginning of period |  | ​ | 209,974 |  | ​ | 325,975
Cash and cash equivalents at end of period | ​ | $ | 179,468 | ​ | $ | 162,113
​ | ​ | ​ | ​ | ​ | ​ | ​
Supplemental cash flows disclosure: | ​ | ​ | ​ | ​ | ​ | ​
Income tax payments, net | ​ | $ | 7,402 | ​ | $ | 7,498
Interest paid | ​ | $ | 1,335 | ​ | $ | 875
Supplemental disclosure of noncash investing activities: | ​ | ​ | ​ | ​ | ​ | ​
Capital expenditures included in accounts payable | ​ | $ | 7,693 | ​ | $ | 10,322

​

The accompanying notes are an integral part of these consolidated financial statements.

​

​

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RPC, INC. AND SUBSIDIARIES

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS

(Unaudited)

​

1. GENERAL

The accompanying unaudited consolidated financial statements include the accounts of RPC, Inc. and its wholly-owned subsidiaries (“RPC” or “the Company”) and have been prepared in accordance with accounting principles generally accepted in the United States of America for interim financial information and with the instructions to Form 10-Q and Article 10 of Regulation S-X. Accordingly, they do not include all of the information and footnotes required by accounting principles generally accepted in the United States for complete financial statements. These consolidated financial statements have been prepared in accordance with Accounting Standards Codification (ASC) Topic 810, “Consolidation” and Rule 3A-02(a) of Regulation S-X. In accordance with ASC Topic 810 and Rule 3A-02 (a) of Regulation S-X, the Company’s policy is to consolidate all subsidiaries and investees where it has voting control.

In the opinion of management, all adjustments (including normal recurring accruals) considered necessary for a fair presentation have been included. Operating results for the three and six months ended June 30, 2026, are not necessarily indicative of the results to be expected for the year ending December 31, 2026.

The balance sheet at December 31, 2025, has been derived from the audited financial statements at that date but does not include all of the information and footnotes required by accounting principles generally accepted in the United States of America for complete financial statements. For further information, refer to the consolidated financial statements and footnotes thereto included in the Company’s annual report on Form 10-K for the fiscal year ended December 31, 2025.

A group that includes Amy R. Kreisler and Timothy C. Rollins, each of whom is a director of the Company, certain of their family members, and certain companies under their and/or their family members’ control, controls in excess of fifty percent of the Company’s voting power.

​

2. RECENT ACCOUNTING STANDARDS

​

Recently Issued Accounting Standards Update (ASU) Not Yet Adopted:

​

ASU 2025-11: Interim Reporting (Topic 270): Narrow-Scope Improvements: This ASU updates existing guidance related to interim reporting. This amendment provides a comprehensive list of required interim disclosures and introduces a disclosure principle requiring entities to disclose events since the end of the last annual reporting period that have a material impact on the entity. The provisions in this ASU are effective beginning in the first quarter of 2028. Early adoption is permitted on either a prospective or retrospective basis. The Company is currently assessing the potential impact of adoption of these provisions on the consolidated financial statements.

​

ASU 2025-06: Intangibles-Goodwill and Other-Internal-Use Software (Subtopic 350-40): Targeted Improvements to the Accounting for Internal-Use Software: This ASU updates existing guidance related to the capitalization of development costs for internal-use software. These amendments update the threshold required to start capitalizing software costs and remove references to a sequential software development method. The provisions in this ASU are effective beginning in the first quarter of 2028. Early adoption is permitted as of the beginning of an annual reporting period. The Company is currently assessing the potential impact of adoption of these provisions on the consolidated financial statements.

​

ASU 2024-03: Income Statement (Topic 220): Disaggregation of Income Statement Expenses: The amendments in this ASU require public companies to disclose, in interim and reporting periods, additional information about certain expenses in the financial statements. These disclosures are effective beginning with 2027 annual reports, and interim reports beginning with the first quarter of 2028. Early adoption is permitted on either a prospective or retrospective basis. The Company is currently assessing the potential impact of adoption of these provisions on the consolidated financial statements.

​

​

3. ACQUISITION

On April 1, 2025 (the "Closing Date”), RPC, through its wholly owned subsidiary, Thru Tubing Solutions, Inc., completed the acquisition of Pintail Alternative Energy, L.L.C ("Pintail”). The supplemental pro forma financial information presented below has been prepared using the acquisition method of accounting and is based on the historical financial information of Pintail and RPC. This pro forma financial information does not necessarily represent what the combined company’s revenues or results

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RPC, INC. AND SUBSIDIARIES

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS

(Unaudited)

​

of operations would have been had the acquisition been completed on January 1, 2024, nor do they intend to be a projection of future operating results of the combined company.

The following table provides unaudited supplemental pro forma financial information for the six months ended on June 30, 2025, as if the acquisition of Pintail had occurred on January 1, 2024. The unaudited pro forma information includes incremental depreciation expense related to fair value adjustments to property, plant and equipment, amortization of intangible assets acquired, removal of non-recurring transaction costs directly associated with the Merger, and interest expense on the Seller Note, as well as the Acquisition related employment costs associated with the Contingent Consideration and Redistribution Payments. The unaudited pro forma financial information does not give effect to any anticipated cost savings, operating efficiencies or other synergies that may be associated with the acquisition, or any estimated costs that have been or will be incurred by the Company to integrate the assets and operations of Pintail.

​

​ | ​ | ​ | ​
​ | ​ | Six months ended June 30,
​ | ​ ​ ​ | 2025
(in thousands) | ​ | ​ | ​
Revenues | ​ | $ | 861,438
Net income | ​ | ​ | 21,773

​

​

4. REVENUES

Accounting Policy:

RPC’s contract revenues are generated principally from providing oilfield services. These services are based on mutually agreed upon pricing with the customer prior to the services being delivered and, given the nature of the services, do not include the right of return. Pricing for these services is a function of rates based on the nature of the specific job, with consideration for the extent of equipment, labor, and consumables needed for the job. RPC typically satisfies its performance obligations over time as the services are performed. RPC records revenues based on the transaction price agreed upon with its customers.

Sales tax charged to customers is presented on a net basis within the accompanying Consolidated Statements of Operations and therefore excluded from revenues.

Nature of services:

RPC provides a broad range of specialized oilfield services to independent and major oil and gas companies engaged in the exploration, production and development of oil and gas properties throughout the United States and in selected international markets. RPC manages its business as either (1) services offered on the well site with equipment and personnel (Technical Services) or (2) services and tools offered off the well site (Support Services). For more detailed information about the Company’s operating segments, see Note titled “Business Segment and Entity Wide Disclosures.”

Our contracts with customers are generally short-term in nature and generally consist of a single performance obligation – the provision of oilfield services. RPC contracts with its customers to provide the following services by reportable segment:

Technical Services

| ● | Includes pressure pumping, downhole tools, wireline, coiled tubing, cementing, snubbing, nitrogen, well control and fishing.

Support Services

| ● | Rental tools – RPC rents tools to its customers for use with onshore and offshore oil and gas well drilling, completion and workover activities.

| ● | Other support services include pipe handling and pipe inspection and storage services, and well control training.

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RPC, INC. AND SUBSIDIARIES

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS

(Unaudited)

​

Payment terms:

RPC’s contracts with customers state the final terms of the sales, including the description, quantity, and price of each service to be delivered. The Company’s contracts are generally short-term in nature and in most situations, RPC provides services ahead of payment - i.e., RPC has fulfilled the performance obligation prior to submitting a customer invoice. RPC invoices the customer upon completion of the specified services and collection is generally expected between 30 to 60 days after invoicing. As the Company enters into contracts with its customers, it generally expects there to be no significant timing difference between the date the services are provided to the customer (satisfaction of the performance obligation) and the date cash consideration is received. Accordingly, there is no financing component to our arrangements with customers.

Significant judgments:

RPC believes the output method is a reasonable measure of progress for the satisfaction of our performance obligations, which are satisfied over time, as it provides a faithful depiction of (1) our performance toward complete satisfaction of the performance obligation under the contract and (2) the value transferred to the customer of the services performed under the contract. RPC has elected the right to invoice practical expedient for recognizing revenue related to its performance obligations.

Disaggregation of revenues:

See Note titled “Business Segment and Entity Wide Disclosures” for disaggregation of revenue by operating segment and services offered in each of them and by geographic regions.

Contract balances:

Contract assets representing the Company’s rights to consideration for work completed but not billed are included in accounts receivable, net in the accompanying Consolidated Balance Sheets and are shown below:

​

​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | June 30, | ​ | December 31,
​ | ​ ​ ​ | 2026 | ​ ​ ​ | 2025
(in thousands) | ​ | ​ | ​ | ​ | ​ | ​
Unbilled trade receivables | ​ | $ | 65,640 | ​ | $ | 46,817

​

Substantially all the unbilled trade receivables disclosed were, or are expected to be, invoiced during the following quarter.

​

Unearned revenue

Contract liabilities represent payments received in advance of satisfying the Company’s performance obligation and are recognized over time as the service is performed. All of the $13.2 million recorded as unearned revenue as of December 31, 2025, was recognized as revenues during the first quarter of 2026.

5. STOCK-BASED COMPENSATION

The Company has issued various forms of stock incentives, including incentive and non-qualified stock options, time-lapse restricted shares and performance share unit awards under its Stock Incentive Plans to officers, selected employees and non-employee directors.

As of June 30, 2026, there were 3,392,311 shares available for grant under the Company’s 2024 Stock Incentive Plan.

​

​

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RPC, INC. AND SUBSIDIARIES

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS

(Unaudited)

​

6. DEPRECIATION AND AMORTIZATION

Depreciation and amortization disclosed in the Consolidated Statements of Operations related to the following components:

​

​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Three months ended | ​ | Six months ended
​ | ​ | June 30, | ​ | June 30,
​ | ​ ​ ​ | ​ | 2026 | ​ | ​ | 2025 | ​ ​ ​ | ​ | 2026 | ​ | ​ | 2025
(in thousands) | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Cost of revenues | ​ | $ | 37,447 | ​ | $ | 36,595 | ​ | $ | 74,573 | ​ | $ | 69,025
Selling, general and administrative expenses | ​ | ​ | 5,535 | ​ | ​ | 5,752 | ​ | ​ | 11,263 | ​ | ​ | 8,945
Total | ​ | $ | 42,982 | ​ | $ | 42,347 | ​ | $ | 85,836 | ​ | $ | 77,970

​

​

7. INCOME TAXES

The Company generally determines its periodic income tax expense or benefit based upon the current period income or loss and the annual estimated tax rate for the Company adjusted for discrete items including changes to prior period estimates. In certain instances, the Company uses the discrete method when it believes the actual year-to-date effective rate provides a more reliable estimate of its income tax rate for the period. The estimated tax rate is revised, if necessary, at the end of each successive interim period to the Company’s current annual estimated tax rate.

​

For the three months ended June 30, 2026, the effective rate reflects a provision of 27.1% compared to a provision of 41.3% for the comparable period in the prior year. For the six months ended June 30, 2026, the effective rate reflects a provision of 38.1% compared to a provision of 34.5% for the comparable period in the prior year. The change in effective tax rate is primarily due to the smaller impact of discrete and permanent adjustments on pretax income.

​

8. EARNINGS PER SHARE

Basic and diluted earnings per share are computed by dividing net income by the weighted average number of shares outstanding during the respective periods. In addition, the Company has periodically issued share-based payment awards that contain non-forfeitable rights to dividends and are therefore considered participating securities. The following table shows the restricted shares of common stock outstanding issued to employees and as seller consideration as part of Pintail acquisition (participating securities) and a reconciliation of outstanding weighted average shares:

​

​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Three months ended | ​ | Six months ended
​ | ​ | June 30, | ​ | June 30,
​ | ​ ​ ​ | 2026 | ​ ​ ​ | 2025 | ​ ​ ​ | 2026 | ​ ​ ​ | 2025
(in thousands) | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Net income available for stockholders | ​ | $ | 12,075 | ​ | $ | 10,148 | ​ | $ | 12,930 | ​ | $ | 22,178
Less: Adjustments for earnings attributable to participating securities | ​ | ​ | (424) | ​ | ​ | (21) | ​ | ​ | (655) | ​ | ​ | (256)
Net income used in calculating earnings per share | ​ | $ | 11,651 | ​ | $ | 10,127 | ​ | $ | 12,275 | ​ | $ | 21,922
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Weighted average shares outstanding (including participating securities) | ​ |  | 221,659 | ​ |  | 220,610 | ​ |  | 221,495 | ​ |  | 218,150
Adjustment for participating securities | ​ |  | (6,662) | ​ |  | (8,390) | ​ |  | (6,713) | ​ |  | (6,080)
Shares used in calculating basic and diluted earnings per share | ​ |  | 214,997 | ​ |  | 212,220 | ​ |  | 214,782 | ​ |  | 212,070

​

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RPC, INC. AND SUBSIDIARIES

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS

(Unaudited)

​

9. ACCOUNTS RECEIVABLE

Accounts receivable, net consists of the following:

​

​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ ​ ​ | June 30, | ​ ​ ​ | December 31,
​ | ​ ​ ​ | 2026 | ​ ​ ​ | 2025
(in thousands) | ​ | ​ | ​ | ​ | ​ | ​
Trade receivables: |  | ​ | ​ |  | ​ | ​
Billed | ​ | $ | 316,061 | ​ | $ | 281,918
Unbilled | ​ |  | 65,640 | ​ |  | 46,817
Other receivables | ​ |  | 5,500 | ​ |  | 5,955
Total | ​ |  | 387,201 | ​ |  | 334,690
Less: allowance for credit losses | ​ |  | (8,663) | ​ |  | (7,022)
Accounts receivable, net | ​ | $ | 378,538 | ​ | $ | 327,668

​

Trade receivables relate to revenues generated from equipment and services, for which credit is extended based on our evaluation of the customer’s credit worthiness. Unbilled receivables represent revenues earned but not billed to the customer until future dates, usually within one month. Other receivables consist primarily of net amounts receivable from an agent that operates internationally, as well as amounts due from the favorable resolution of state tax audits and rebates due from suppliers.

​

10. CURRENT EXPECTED CREDIT LOSSES

The Company utilizes an expected credit loss model for valuing its accounts receivable, a financial asset measured at amortized cost. The Company is exposed to credit losses primarily from providing oilfield services. The Company’s expected allowance for credit losses for accounts receivable is based on historical collection experience, current and future economic and market conditions and a review of the current status of customers’ account receivable balances. Due to the short-term nature of such receivables, the estimated amount of accounts receivable that may not be collected is based on aging of the accounts receivable balances and the financial condition of customers. Additionally, specific allowance amounts are established to record the appropriate provision for customers that have a higher probability of default. The Company’s monitoring activities include timely account reconciliation, dispute resolution, payment confirmation, consideration of customers’ financial condition and macroeconomic conditions. Balances are written off when determined to be uncollectible and recoveries of amounts previously written off are recorded when collected.

The following table provides a roll-forward of the allowance for credit losses that is deducted from the amortized cost basis of accounts receivable to present the net amount expected to be collected:

​

​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | ​ | ​ | ​
​ | ​ | Six months ended
​ | ​ | June 30,
​ | ​ ​ ​ | 2026 | ​ | 2025
(in thousands) | ​ | ​ | ​ | ​ | ​ | ​
Beginning balance | ​ | $ | 7,022 | ​ | $ | 7,906
Provision for current expected credit losses | ​ | ​ | 2,360 | ​ |  | 207
Write-offs | ​ | ​ | (750) | ​ |  | (1,264)
Recoveries collected (net of expenses) | ​ | ​ | 31 | ​ |  | 58
Ending balance | ​ | $ | 8,663 | ​ | $ | 6,907

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11. INVENTORIES

Inventories consist of (i) raw materials and supplies that are consumed providing services to the Company’s customers, (ii) spare parts for equipment used in providing these services and (iii) components and attachments for manufactured equipment used in providing services. In the table below, spare parts and components are included as part of raw materials and supplies; tools that are assembled using components are reported as finished goods. Inventories are recorded at the lower of cost or net realizable value. Cost is determined using the first-in, first-out method or the weighted average cost method.

​

​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | June 30, | ​ | December 31,
(in thousands) | ​ | 2026 | ​ | 2025
Raw materials and supplies | ​ | $ | 115,406 | ​ | $ | 109,259
Finished goods | ​ | ​ | 10,387 | ​ |  | 9,745
Total Inventory | ​ | $ | 125,793 | ​ | $ | 119,004

​

​

​

12. OTHER INTANGIBLES, NET

Intangible assets are amortized over their legal or estimated useful life. The following table provides a summary of the gross carrying value and accumulated amortization by each major intangible asset class as of June 30, 2026, and December 31, 2025:

​

​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | ​ | ​ | ​ | June 30, 2026 | ​ | ​ | December 31, 2025
​ | ​ | Estimated Useful Life (in years) | ​ | ​ | Gross Carrying Amount | ​ | ​ | Accumulated Amortization | ​ | ​ | Gross Carrying Amount | ​ | ​ | Accumulated Amortization
(in thousands) | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Finite-lived intangibles: | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Customer relationships | ​ | 10 | ​ | $ | 93,800 | ​ | $ | (13,475) | ​ | $ | 93,700 | ​ | $ | (8,778)
Trade names and trademarks | ​ | 10 | ​ | ​ | 15,119 | ​ | ​ | (2,729) | ​ | ​ | 12,819 | ​ | ​ | (1,816)
Software licenses | ​ | 3 | ​ | ​ | 5,350 | ​ | ​ | (4,301) | ​ | ​ | 5,350 | ​ | ​ | (3,776)
​ | ​ | ​ | ​ | $ | 114,269 | ​ | $ | (20,505) | ​ | $ | 111,869 | ​ | $ | (14,370)

​

Amortization expense for each of the periods presented follows:

​

​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Three months ended | ​ | Six months ended
​ | ​ | June 30, | ​ | June 30,
​ | ​ ​ ​ | ​ | 2026 | ​ | ​ | 2025 | ​ ​ ​ | ​ | 2026 | ​ | ​ | 2025
(in thousands) | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Amortization of finite-lived intangible assets | ​ | $ | 2,750 | ​ | $ | 3,017 | ​ | $ | 5,908 | ​ | $ | 3,610

​

Estimated future amortization expense based on balances as of June 30, 2026, were as follows: $6.7 million for the remainder of 2026 and approximately $15.0 million for each of the years 2027 through 2029 and $14.2 million for 2030.

​

13. COMMITMENTS AND CONTINGENCIES

Sales and Use Taxes - The Company has ongoing sales and use tax audits in various jurisdictions and may be subjected to varying interpretations of statute that could result in unfavorable outcomes. In accordance with ASC 450-20, Loss Contingencies, any probable and reasonable estimate of assessment costs have been included in accrued state, local and other taxes.

During the second quarter, the Company resolved certain state sales and use tax matters for which it had previously received tax notifications. The resolution did not have a material impact on the Company’s consolidated financial position, results of operations or cash flows.

​

Litigation - RPC is a party to various routine legal proceedings primarily involving commercial claims, employee liability and workers’ compensation claims, claims for personal injury, and other claims. RPC insures against these risks to the extent deemed prudent by its management, but no assurance can be given that the nature and amount of such insurance will, in every case, fully indemnify RPC against liabilities arising out of pending and future legal proceedings related to its business activities.

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RPC is also subject to sales and use tax audits in various jurisdictions. While the outcome of these existing lawsuits, legal proceedings, claims and audits cannot be predicted with certainty, management believes that the outcome of all such proceedings, even if determined adversely, would not have a material adverse effect on RPC’s business or financial condition.

​

14. NOTES PAYABLE

On June 30, 2026, RPC entered into an Amended and Restated Credit Agreement (the "Credit Agreement”), between RPC, the Lenders party thereto, the Subsidiary Loan Parties party thereto and Bank of America, N.A., as Administrative Agent, which amended and restated the original Credit Agreement. The Amended Credit Agreement, among other things, extends the maturity date for revolving loans from June 22, 2027, to June 30, 2031, and removes the SOFR Adjustment to pricing. There were no other material changes to the original Credit Agreement which provides for a line of credit of up to $100 million, including a $35 million letter of credit sub-facility, and a $35 million swingline sub-facility. The Credit Agreement covenants contain customary terms and conditions, including restrictions on indebtedness, dividend payments, business combinations and other related items, as well as providing for acceleration of amounts due upon the occurrence of certain specified events of default. The Credit Agreement also includes a full and unconditional guarantee by the Company's 100% owned domestic subsidiaries whose assets equal substantially all of the consolidated assets of the Company and its subsidiaries. Certain of the Company’s minor subsidiaries are not guarantors. Additionally, the Credit Agreement permits the issuance of letters of credit in currencies other than U.S. dollars.

​

Under the Credit Agreement, when RPC’s trailing four quarter Adjusted EBITDA (as calculated under the Credit Agreement) is equal to or greater than $50 million: (i) the consolidated leverage ratio cannot exceed 2.50:1.00 and (ii) the debt service coverage ratio must be equal to or greater than 2.00:1.00; otherwise, the minimum tangible net worth must be greater than or equal to $400 million.

Revolving loans bear interest at one of the following two rates at the Company’s election:

●Term Secured Overnight Financing Rate (Term SOFR); plus, a margin ranging from 1.25% to 2.25%, based on a quarterly consolidated leverage ratio calculation, and
●the Base Rate, which is a fluctuating rate per annum equal to the highest of (a) the Federal Funds Rate plus 0.50%, (b) Bank of America’s publicly announced, “prime rate,” (c) the Term SOFR plus 1.00%, and (d) 1.00%; in each case plus a margin that ranges from 0.25% to 1.25% based on a quarterly consolidated leverage ratio calculation.

In addition, the Company pays an annual fee ranging from 0.20% to 0.30%, based on a quarterly consolidated leverage ratio calculation, on the unused portion of the credit facility.

​

The Company incurred approximately $258 thousand of costs associated with the Amended Credit Agreement. These costs are being amortized to interest expense over the remaining term of the loan, and the unamortized balance is classified as part of non-current other assets. As of June 30, 2026, RPC had no outstanding borrowings under the revolving credit facility, and letters of credit outstanding relating to self-insurance programs and contract bids totaled $18.2 million; therefore, a total of $81.8 million of the facility was available.

​

The Company assumed a Seller Note as part of the Pintail acquisition. Interest incurred includes interest on the Seller Note, facility fees on the unused portion of the revolving credit facility and the amortization of loan costs. Interest paid includes amounts due on the Seller Note and the credit facility. These amounts are presented below for the periods indicated:

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​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Three months ended | ​ | Six months ended
​ | ​ | June 30, | ​ | June 30,
​ | ​ | 2026 | ​ ​ ​ | 2025 | ​ | 2026 | ​ ​ ​ | 2025
(in thousands) | ​ | ​ | ​ | ​ | ​ ​ ​ | ​ | ​ | ​
Interest incurred | ​ | $ | 638 | ​ | $ | 878 | ​ | $ | 1,431 | ​ | $ | 951
Interest paid | ​ | ​ | 589 | ​ | ​ | 832 | ​ | ​ | 1,335 | ​ | ​ | 875

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15. FAIR VALUE DISCLOSURES

The various inputs used to measure assets at fair value establish a hierarchy that distinguishes between assumptions based on market data (observable inputs) and the Company’s assumptions (unobservable inputs). The hierarchy consists of three broad levels as follows:

1.Level 1 – Quoted market prices in active markets for identical assets or liabilities.
2.Level 2 – Quoted prices for similar instruments in active markets, quoted prices for identical or similar instruments in markets that are not active, and model-based valuation techniques for which all significant assumptions are observable in the market or can be corroborated by observable market data for substantially the full term of the assets or liabilities.
3.Level 3 – Unobservable inputs developed using the Company’s estimates and assumptions, which reflect those that market participants would use.

The Company’s policy is to recognize transfers between levels at the beginning of quarterly reporting periods. For the quarter ended June 30, 2026, there were no significant transfers in or out of levels 1, 2 or 3.

Under the Company’s revolving credit facility, there was no balance outstanding at June 30, 2026, and December 31, 2025. Borrowings under our revolving credit facility and Seller Note are typically based on the quote from the lender (level 2 inputs), which approximates fair value, and bear variable interest rates as described in the Note titled “Notes Payable”. The Company is subject to interest rate risk, to the extent there are outstanding borrowings on the variable component of the interest rate.

The carrying amounts of other financial instruments reported in the balance sheet for current assets and current liabilities approximate their fair values because of the short maturity of these instruments. The Company currently does not use the fair value option to measure any of its existing financial instruments and has not determined whether it will elect this option for financial instruments acquired in the future.

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​

16. ACCUMULATED OTHER COMPREHENSIVE LOSS

Accumulated other comprehensive loss consists of the following:

​

​ | ​ | ​ | ​
​ | ​ | ​ | Foreign
​ | ​ | ​ | Currency
​ | ​ ​ ​ | ​ | Translation
(in thousands) | ​ | ​ | ​
Balance at December 31, 2025 | ​ | $ | (2,550)
Change during the period: | ​ |  | ​
Before-tax amount | ​ |  | (270)
Balance at June 30, 2026 | ​ | $ | (2,820)

​

​ | ​ | ​ | ​
​ | ​ | ​ | Foreign
​ | ​ | ​ | Currency
​ | ​ ​ ​ | ​ | Translation
(in thousands) | ​ | ​ | ​
Balance at December 31, 2024 | ​ | $ | (2,828)
Change during the period: | ​ |  | ​
Before-tax amount | ​ |  | 298
Balance at June 30, 2025 | ​ | $ | (2,530)

​

​

17. CASH PAID FOR COMMON STOCK PURCHASED AND RETIRED

​

The Company has a stock buyback program with authorization to repurchase up to 49,578,125 shares in the open market. During the three months ended June 30, 2026, there were no shares repurchased by the Company in the open market. As of June 30, 2026, there were 12,768,870 shares remaining available for repurchase. The program does not have a preset expiration date. Repurchases of shares of the Company’s common stock may be made from time to time in the open market, by block purchases, in privately negotiated transactions or in such other manner as determined by the Company. The timing of the repurchases and the actual amount repurchased will depend on a variety of factors, including the market price of the Company's shares, general market

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and economic conditions, and other factors. The stock repurchase program does not obligate the Company to acquire any particular amount of common stock, and it may be suspended or discontinued at any time.

​

Shares purchased for withholding taxes represent taxes due upon vesting of time-based restricted share awards granted to employees.

​

Total share repurchases for each of the periods presented are detailed below:

​

​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Six months ended June 30, 2026 | ​ | Six months ended June 30, 2025 | ​
​ | ​ ​ ​ | No. of Shares | ​ | ​ | Avg. Price | ​ | ​ | Total Cost | ​ | No. of Shares | ​ | ​ | Avg. Price | ​ | ​ | Total Cost | ​
(in thousands except per share data) | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Shares purchased for withholding taxes | ​ | ​ | 541 | ​ | $ | 6.38 | ​ | $ | 3,452 | ​ | ​ | 424 | ​ | $ | 6.76 | ​ | $ | 2,868 | ​

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​

​

18. BUSINESS SEGMENT AND ENTITY WIDE DISCLOSURES

RPC’s reportable segments are the same as its operating segments. RPC manages its business under Technical Services and Support Services. Technical Services is comprised of service lines that generate revenue based on equipment, personnel or materials at the well site and are closely aligned with completion and production activities of our customers. Support Services is comprised of service lines which generate revenue from services and tools offered off the well site and are more closely aligned with the customers’ drilling activities. Selected overhead including certain centralized support services and regulatory compliance are classified as Corporate.

Technical Services consists primarily of pressure pumping, downhole tools, wireline, coiled tubing, cementing, snubbing, nitrogen, well control and fishing. The services offered under Technical Services are high capital and personnel intensive businesses. The Company considers all of these services to be closely integrated oil and gas well servicing businesses and makes resource allocation and performance assessment decisions based on this operating segment as a whole across these various services.

Support Services consist primarily of drill pipe and related tools, pipe handling, pipe inspection and storage services, and oilfield training services. The demand for these services tends to be influenced primarily by customer drilling-related activity levels.

The accounting policies of the reportable segments are the same as those referenced in Note titled “General.” Gains or losses on disposition of assets are reviewed on a consolidated basis, and accordingly the Company does not report gains or losses at the segment level. Intersegment revenues are generally recorded in segment operating results at prices that management believes approximate prices for arm’s length transactions and are not material to operating results.

RPC's Chief Operating Decision Maker (“CODM”) is its Chief Executive Officer. For each of the reportable segments, the CODM uses operating income to allocate resources (equipment, financial, and human resources). The CODM assesses performance and makes resource allocation decisions regarding, among others, staffing, growth and maintenance capital expenditures and key initiatives based on the operating segments.

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NOTES TO CONSOLIDATED FINANCIAL STATEMENTS

(Unaudited)

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Significant segment revenues, expenses and operating income by reportable segment for the three and six months ended June 30, 2026, and 2025 are shown in the following tables:

​

​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | ​ | Three months ended June 30, | ​ | ​ | Six months ended June 30, | ​
​ | ​ | ​ | Technical | ​ | Support | ​ | ​ | ​ | Technical | ​ | Support | ​ | ​ | ​
​ | ​ ​ ​ | ​ | Services | ​ ​ ​ | Services | ​ ​ ​ | Total | ​ ​ ​ | Services | ​ ​ ​ | Services | ​ ​ ​ | Total | ​
(in thousands) | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
2026 | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Revenues | ​ | $ | 438,115 | ​ | $ | 22,754 | ​ | $ | 460,869 | ​ | ​ | $ | 872,397 | ​ | $ | 43,227 | ​ | $ | 915,624 | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Employment costs (1) | ​ | ​ | 99,975 | ​ | ​ | 5,339 | ​ | ​ | 105,314 | ​ | ​ | ​ | 198,250 | ​ | ​ | 10,630 | ​ | ​ | 208,880 | ​
Materials and supplies | ​ | ​ | 132,061 | ​ | ​ | 914 | ​ | ​ | 132,975 | ​ | ​ | ​ | 280,547 | ​ | ​ | 1,910 | ​ | ​ | 282,457 | ​
Maintenance & repairs | ​ | ​ | 52,102 | ​ | ​ | 2,880 | ​ | ​ | 54,982 | ​ | ​ | ​ | 99,671 | ​ | ​ | 6,011 | ​ | ​ | 105,682 | ​
Fleet and transportation | ​ | ​ | 19,292 | ​ | ​ | 987 | ​ | ​ | 20,279 | ​ | ​ | ​ | 38,165 | ​ | ​ | 1,843 | ​ | ​ | 40,008 | ​
Other cost of revenues (2) | ​ | ​ | 30,968 | ​ | ​ | 1,200 | ​ | ​ | 32,168 | ​ | ​ | ​ | 61,940 | ​ | ​ | 2,336 | ​ | ​ | 64,276 | ​
Cost of revenues (exclusive of depreciation and amortization) |  | $ | 334,398 | ​ | $ | 11,320 | ​ | $ | 345,718 | ​ | ​ | $ | 678,573 | ​ | $ | 22,730 | ​ | $ | 701,303 | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Employment costs (1) | ​ | ​ | 17,622 | ​ | ​ | 2,774 | ​ | ​ | 20,396 | ​ | ​ | ​ | 34,429 | ​ | ​ | 5,380 | ​ | ​ | 39,809 | ​
Enterprise shared services (3) | ​ | ​ | 9,645 | ​ | ​ | 457 | ​ | ​ | 10,102 | ​ | ​ | ​ | 19,237 | ​ | ​ | 903 | ​ | ​ | 20,140 | ​
Other selling, general and administrative expenses (4) | ​ | ​ | 10,051 | ​ | ​ | 1,789 | ​ | ​ | 11,840 | ​ | ​ | ​ | 19,071 | ​ | ​ | 3,275 | ​ | ​ | 22,346 | ​
Selling, general and administrative expenses | ​ | $ | 37,318 | ​ | $ | 5,020 | ​ | $ | 42,338 | ​ | ​ | $ | 72,737 | ​ | $ | 9,558 | ​ | $ | 82,295 | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Segment depreciation and amortization | ​ | ​ | 38,837 | ​ | ​ | 4,124 | ​ | ​ | 42,961 | ​ | ​ | ​ | 77,547 | ​ | ​ | 8,248 | ​ | ​ | 85,795 | ​
Segment operating income | ​ | $ | 27,562 | ​ | $ | 2,290 | ​ | $ | 29,852 | ​ | ​ | $ | 43,540 | ​ | $ | 2,691 | ​ | $ | 46,231 | ​
Unallocated corporate expenses (5) | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | 9,206 | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | 17,476 | ​
Acquisition related employment costs | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | 7,291 | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | 14,583 | ​
Gain on disposition of assets, net | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | (1,416) | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | (3,219) | ​
Operating income | ​ | ​ | ​ | ​ | ​ | ​ | ​ | $ | 14,771 | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | $ | 17,391 | ​

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​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ ​ ​ | ​ | ​ | ​ | ​
​ | ​ | ​ | Three months ended June 30, | ​ | Six months ended June 30,
​ | ​ | ​ | Technical | ​ | Support | ​ | ​ | Technical | ​ | Support | ​ | ​
​ | ​ ​ ​ | ​ | Services | ​ ​ ​ | Services | ​ ​ ​ | Total | Services | ​ ​ ​ | Services | ​ ​ ​ | Total
(in thousands) | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
2025 | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Revenues | ​ | $ | 396,754 | ​ | $ | 24,055 | ​ | $ | 420,809 | $ | 708,598 | ​ | $ | 45,088 | ​ | $ | 753,686
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Employment costs (1) | ​ | ​ | 97,550 | ​ | ​ | 5,314 | ​ | ​ | 102,864 | ​ | 174,886 | ​ | ​ | 10,567 | ​ | ​ | 185,453
Materials and supplies | ​ | ​ | 110,998 | ​ | ​ | 955 | ​ | ​ | 111,953 | ​ | 185,467 | ​ | ​ | 1,795 | ​ | ​ | 187,262
Maintenance & repairs | ​ | ​ | 50,055 | ​ | ​ | 2,924 | ​ | ​ | 52,979 | ​ | 95,516 | ​ | ​ | 5,546 | ​ | ​ | 101,062
Fleet and transportation | ​ | ​ | 13,458 | ​ | ​ | 683 | ​ | ​ | 14,141 | ​ | 23,609 | ​ | ​ | 1,488 | ​ | ​ | 25,097
Other cost of revenues (2) | ​ | ​ | 34,484 | ​ | ​ | 1,325 | ​ | ​ | 35,809 | ​ | 60,316 | ​ | ​ | 2,451 | ​ | ​ | 62,767
Cost of revenues (exclusive of depreciation and amortization) |  | $ | 306,545 | ​ | $ | 11,201 | ​ | $ | 317,746 | $ | 539,794 | ​ | $ | 21,847 | ​ | $ | 561,641
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Employment costs (1) |  | ​ | 15,498 | ​ | ​ | 2,628 | ​ | ​ | 18,126 | ​ | 30,550 |  | ​ | 5,117 | ​ | ​ | 35,667
Enterprise shared services (3) | ​ | ​ | 9,286 | ​ | ​ | 416 | ​ | ​ | 9,702 | ​ | 19,145 | ​ | ​ | 885 | ​ | ​ | 20,030
Other selling, general and administrative expenses (4) | ​ | ​ | 6,455 | ​ | ​ | 691 | ​ | ​ | 7,146 | ​ | 13,873 | ​ | ​ | 2,118 | ​ | ​ | 15,991
Selling, general and administrative expenses | ​ | $ | 31,239 | ​ | $ | 3,735 | ​ | $ | 34,974 | $ | 63,568 | ​ | $ | 8,120 | ​ | $ | 71,688
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Segment depreciation and amortization | ​ | ​ | 37,847 | ​ | ​ | 4,480 | ​ | ​ | 42,327 | ​ | 70,110 | ​ | ​ | 7,821 | ​ | ​ | 77,931
Segment operating income | ​ | $ | 21,123 | ​ | $ | 4,639 | ​ | $ | 25,762 | $ | 35,126 | ​ | $ | 7,300 | ​ | $ | 42,426
Unallocated corporate expenses (5) | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | 5,871 | ​ | ​ | ​ | ​ | ​ | ​ | ​ | 11,675
Acquisition related employment costs | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | 6,554 | ​ | ​ | ​ | ​ | ​ | ​ | ​ | 6,554
Gain on disposition of assets, net | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | (2,199) | ​ | ​ | ​ | ​ | ​ | ​ | ​ | (3,725)
Operating income | ​ | ​ | ​ | ​ | ​ | ​ | ​ | $ | 15,536 | ​ | ​ | ​ | ​ | ​ | ​ | $ | 27,922

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​

| (1) | Employment costs include employee payroll, share-based compensation, bonuses and amounts related to benefits for each of the income statement items. Additional employment costs are included within the Enterprise shared services amount.

| (2) | Includes expenses related to rent, travel, insurance and other costs.

| (3) | Includes costs incurred at the enterprise level that are allocated to each reportable segment based on payroll cost, headcount and revenues.

| (4) | Includes professional fees, utilities, travel & entertainment and other costs.

| (5) | Unallocated corporate expenses are included in selling general and administrative expenses at the consolidated level.

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The table below shows the reconciliation of segment totals to the consolidated level for the three and six months ended June 30, 2026, and 2025:

​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Technical | ​ | Support | ​ | Segment | ​ | Unallocated | ​ | Consolidated | ​
​ | ​ ​ ​ | Services | ​ ​ ​ | Services | ​ ​ ​ | Total | ​ ​ ​ | Total | ​ ​ ​ | Total | ​
(in thousands) | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
2026 | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Selling, general and administrative expenses | ​ | $ | 37,318 | ​ | $ | 5,020 | ​ | $ | 42,338 | ​ | $ | 9,185 | ​ | $ | 51,523 | ​
Depreciation and amortization | ​ | ​ | 38,837 | ​ | ​ | 4,124 | ​ | ​ | 42,961 | ​ | ​ | 21 | ​ | ​ | 42,982 | ​
Capital expenditures (1) | ​ | ​ | 32,819 | ​ | ​ | 3,701 | ​ | ​ | 36,520 | ​ | ​ | 2,212 | ​ | ​ | 38,732 | ​
Total assets, end of period (2) | ​ | $ | 1,093,864 | ​ | $ | 103,687 | ​ | $ | 1,197,551 | ​ | $ | 262,204 | ​ | $ | 1,459,755 | ​
2025 | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Selling, general and administrative expenses | ​ | $ | 31,239 | ​ | $ | 3,735 | ​ | $ | 34,974 | ​ | $ | 5,851 | ​ | $ | 40,825 | ​
Depreciation and amortization | ​ | ​ | 37,847 | ​ | ​ | 4,480 | ​ | ​ | 42,327 | ​ | ​ | 20 | ​ | ​ | 42,347 | ​
Capital expenditures (1) | ​ | ​ | 32,451 | ​ | ​ | 6,343 | ​ | ​ | 38,794 | ​ | ​ | 4,259 | ​ | ​ | 43,053 | ​
Total assets, end of period (2) | ​ | $ | 1,102,165 | ​ | ​ | 97,089 | ​ | $ | 1,199,254 | ​ | $ | 265,142 | ​ | $ | 1,464,396 | ​

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​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Technical | ​ | Support | ​ | Segment | ​ | Unallocated | ​ | Consolidated | ​
​ | ​ ​ ​ | Services | ​ ​ ​ | Services | ​ ​ ​ | Total | ​ ​ ​ | Total | ​ ​ ​ | Total | ​
(in thousands) | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
2026 | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Selling, general and administrative expenses | ​ | $ | 72,737 | ​ | $ | 9,558 | ​ | $ | 82,295 | ​ | $ | 17,435 | ​ | $ | 99,730 | ​
Depreciation and amortization | ​ | ​ | 77,547 | ​ | ​ | 8,248 | ​ | ​ | 85,795 | ​ | ​ | 41 | ​ | ​ | 85,836 | ​
Capital expenditures (1) | ​ | ​ | 56,362 | ​ | ​ | 11,244 | ​ | ​ | 67,606 | ​ | ​ | 3,231 | ​ | ​ | 70,837 | ​
2025 | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Selling, general and administrative expenses | ​ | $ | 63,568 | ​ | $ | 8,120 | ​ | $ | 71,688 | ​ | $ | 11,636 | ​ | $ | 83,324 | ​
Depreciation and amortization | ​ | ​ | 70,110 | ​ | ​ | 7,821 | ​ | ​ | 77,931 | ​ | ​ | 39 | ​ | ​ | 77,970 | ​
Capital expenditures (1) | ​ | ​ | 54,994 | ​ | ​ | 14,744 | ​ | ​ | 69,738 | ​ | ​ | 5,585 | ​ | ​ | 75,323 | ​

​

| (1) | Unallocated total primarily relates to corporate and enterprise services capital expenditures.

| (2) | Unallocated total primarily consists of cash and cash equivalents of $179.5 million and $162.1 million managed at corporate as of June 30, 2026 and 2025 respectively.

​

The following summarizes revenues for the United States and separately for all international locations combined for the three and six months ended June 30, 2026, and 2025. The revenues are based on the location of the use of the equipment or services. Assets related to international operations are less than 10% of RPC’s consolidated assets and therefore are not presented.

​

​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ ​ ​ | Three months ended | ​ ​ ​ | Six months ended
​ | ​ | June 30, | ​ | June 30,
​ | ​ ​ ​ | 2026 | ​ ​ ​ | 2025 | ​ ​ ​ | 2026 | ​ ​ ​ | 2025
(in thousands) | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
United States revenues | ​ | $ | 451,754 | ​ | $ | 412,347 | ​ | $ | 899,744 | ​ | $ | 737,226
International revenues |  | ​ | 9,115 |  | ​ | 8,462 | ​ | ​ | 15,880 |  | ​ | 16,460
Total revenues | ​ | $ | 460,869 | ​ | $ | 420,809 | ​ | $ | 915,624 | ​ | $ | 753,686

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NOTES TO CONSOLIDATED FINANCIAL STATEMENTS

(Unaudited)

​

​

Segment Revenues:

RPC’s operating segment revenues by major service lines are shown in the following table:

​

​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Three months ended | ​ | Six months ended
​ | ​ | June 30, | ​ | June 30,
​ | ​ ​ ​ | 2026 | ​ ​ ​ | 2025 | ​ ​ ​ | 2026 | ​ ​ ​ | 2025
(in thousands) | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Technical Services: | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Pressure Pumping | ​ | $ | 139,853 | ​ | $ | 109,197 | ​ | $ | 280,645 | ​ | $ | 242,814
Downhole Tools |  | ​ | 116,672 |  | ​ | 99,587 | ​ | ​ | 222,582 |  | ​ | 193,452
Wireline | ​ | ​ | 88,594 |  | ​ | 103,924 | ​ | ​ | 191,807 | ​ | ​ | 107,842
Coiled Tubing |  | ​ | 40,598 |  | ​ | 35,690 | ​ | ​ | 79,077 |  | ​ | 67,620
Cementing | ​ | ​ | 28,673 | ​ | ​ | 27,625 | ​ | ​ | 54,827 | ​ | ​ | 55,287
Nitrogen |  | ​ | 7,332 |  | ​ | 8,150 | ​ | ​ | 14,736 |  | ​ | 16,062
Snubbing |  | ​ | 8,954 |  | ​ | 7,416 | ​ | ​ | 16,836 |  | ​ | 14,752
All other |  | ​ | 7,439 |  | ​ | 5,165 | ​ | ​ | 11,887 |  | ​ | 10,769
Total Technical Services | ​ | ​ | 438,115 | ​ | ​ | 396,754 | ​ | ​ | 872,397 | ​ | ​ | 708,598
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Support Services: | ​ |  | ​ | ​ |  | ​ | ​ |  | ​ | ​ |  | ​
Rental Tools | ​ | ​ | 16,689 | ​ | ​ | 17,955 | ​ | ​ | 30,497 | ​ | ​ | 33,357
All other | ​ | ​ | 6,065 | ​ | ​ | 6,100 | ​ |  | 12,730 | ​ |  | 11,731
Total Support Services | ​ | ​ | 22,754 | ​ | ​ | 24,055 | ​ | ​ | 43,227 | ​ | ​ | 45,088
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Total revenues | ​ | $ | 460,869 | ​ | $ | 420,809 | ​ | $ | 915,624 | ​ | $ | 753,686

​

​

​

​

19. SUBSEQUENT EVENT

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Dividends

​

On July 28, 2026, the Board of Directors declared a regular quarterly cash dividend of $0.04 per share payable September 10, 2026, to common stockholders of record at the close of business on August 10, 2026.

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​

​

​

ITEM 2. | MANAGEMENT’S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS

Overview

The following discussion should be read in conjunction with the Consolidated Financial Statements included elsewhere in this document. See also Forward-Looking Statements on page 28.

RPC, Inc. (“RPC” or “the Company”) provides a broad range of specialized oilfield services primarily to independent and major Oilfield companies engaged in exploration, production and development of oil and gas properties throughout the United States, including the Gulf of America, mid-continent, southwest, Rocky Mountain and Appalachian regions, and in selected international locations. The Company’s revenues and profits are generated by providing equipment and services to customers who operate oil and gas properties and invest capital to drill new wells and enhance production or perform maintenance on existing wells. We continuously monitor factors that impact current and expected customer activity levels, such as the prices of oil and natural gas, changes in pricing for our services and equipment, and utilization of our equipment and personnel. Our financial results are affected by geopolitical factors such as political instability in the petroleum-producing regions of the world, the Iran war and related blockade of the Strait of Hormuz and other oil transportation shipping lanes, the actions of the OPEC oil cartel, overall economic conditions and weather in the United States, the prices of oil and natural gas, other shifting trends in our industry, and our customers’ drilling and production activities.

The discussion of our key business and financial strategies set forth under the Overview section in the Company’s annual report on Form 10-K for the fiscal year ended December 31, 2025, is incorporated herein by reference.

During the second quarter of 2026, total revenues of $460.9 million increased by $40.1 million or 9.5% compared to the same period in the prior year. Operating income was $14.8 million for the three months ended June 30, 2026, compared to $15.5 million for the same period of 2025. Net income for the three months ended June 30, 2026, was $12.1 million, or $0.05 diluted earnings per share compared to net income of $10.1 million, or $0.05 diluted earnings per share in the same period of 2025. Net cash provided by operating activities decreased to $74.6 million for the six months ended June 30, 2026, compared to $92.9 million for the same period of 2025, primarily due to working capital increases associated with higher activity levels.

As of June 30, 2026, there were no outstanding borrowings under our credit facility.

How We Evaluate Our Operations

​

We use Earnings Before Interest, Taxes, Depreciation and Amortization (“EBITDA”), Adjusted EBITDA, Adjusted EBITDA margin and Free cash flow, all non-GAAP measures, to evaluate and analyze the operating performance of our businesses. See section titled Non-GAAP financial measures for Adjusted EBITDA, Adjusted EBITDA margin and Free cash flow computations.

​

These measures should not be considered in isolation or as a substitute for performance or liquidity measures prepared in accordance with GAAP. Management believes that presenting these non-GAAP measures, other than free cash flow, enables investors to compare the operating performance of our core business consistently over various time periods, without regard to acquisition related employment costs and changes in our accounting for purchases of wireline cables, and without regard to changes in our capital structure. Management believes that free cash flow, which measures our ability to generate additional cash from our business operations, is an important financial measure for use in evaluating RPC's liquidity. Free cash flow should be considered in addition to, rather than as a substitute for, net cash provided by operating activities as a measure of our liquidity. Additionally, RPC’s definition of free cash flow is limited, in that it does not represent residual cash flows available for discretionary expenditures, due to the fact that the measure does not deduct the payments required for debt service and other contractual obligations or payments made for business acquisitions. Therefore, management believes it is important to view free cash flow as a measure that provides supplemental information to our Condensed Consolidated Statements of Cash Flows.

​

A non-GAAP financial measure is a numerical measure of financial performance, financial position, or cash flows that either 1) excludes amounts, or is subject to adjustments that have the effect of excluding amounts, that are included in the most directly comparable measure calculated and presented in accordance with GAAP in the statement of operations, balance sheet or statement of cash flows, or 2) includes amounts, or is subject to adjustments that have the effect of including amounts, that are excluded from the most directly comparable measure so calculated and presented.

​

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See Non-GAAP Financial Measures below for a reconciliation of EBITDA and Adjusted EBITDA to net income, and Adjusted EBITDA margin to net income margin, the most directly comparable financial measures calculated and presented in accordance with GAAP and a reconciliation of Cash Provided by Operating Activities to Free Cash Flow, the most directly comparable liquidity measure calculated and presented in accordance with GAAP.

​

Results of Operations

​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Three months ended | ​ | Six months ended
​ | ​ | June 30, | ​ | June 30,
​ | ​ ​ ​ | 2026 | ​ ​ ​ | 2025 | ​ ​ ​ | 2026 | ​ ​ ​ | 2025
(in thousands, except for percentages) | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Revenues by business segment: | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Technical | ​ | $ | 438,115 | ​ | $ | 396,754 | ​ | $ | 872,397 | ​ | $ | 708,598
Support | ​ | ​ | 22,754 | ​ | ​ | 24,055 | ​ | ​ | 43,227 | ​ | ​ | 45,088
Total revenue | ​ | ​ | 460,869 | ​ | ​ | 420,809 | ​ | ​ | 915,624 | ​ | ​ | 753,686
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Cost of revenues (exclusive of depreciation and amortization shown separately below) | ​ | ​ | 345,718 | ​ | ​ | 317,746 | ​ | ​ | 701,303 | ​ | ​ | 561,641
Selling, general and administrative expenses | ​ | ​ | 51,523 | ​ | ​ | 40,825 | ​ | ​ | 99,730 | ​ | ​ | 83,324
Acquisition related employment costs | ​ | ​ | 7,291 | ​ | ​ | 6,554 | ​ | ​ | 14,583 | ​ | ​ | 6,554
Depreciation and amortization | ​ | ​ | 42,982 | ​ | ​ | 42,347 | ​ | ​ | 85,836 | ​ | ​ | 77,970
Gain on disposition of assets | ​ | ​ | (1,416) | ​ | ​ | (2,199) | ​ | ​ | (3,219) | ​ | ​ | (3,725)
Other income, net | ​ | ​ | (929) | ​ | ​ | (1,152) | ​ | ​ | (1,678) | ​ | ​ | (2,037)
Interest expense | ​ | ​ | 671 | ​ | ​ | 1,007 | ​ | ​ | 1,501 | ​ | ​ | 1,138
Interest income | ​ | ​ | (1,546) | ​ | ​ | (1,618) | ​ | ​ | (3,316) | ​ | ​ | (5,013)
Income tax provision | ​ | ​ | 4,500 | ​ | ​ | 7,151 | ​ | ​ | 7,954 | ​ | ​ | 11,656
Net income | ​ | $ | 12,075 | ​ | $ | 10,148 | ​ | $ | 12,930 | ​ | $ | 22,178
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Net income margin | ​ | ​ | 2.6% | ​ | ​ | 2.4% | ​ | ​ | 1.4% | ​ | ​ | 2.9%
Net cash provided by operating activities | ​ | $ | 43,434 | ​ | $ | 53,078 | ​ | $ | 74,607 | ​ | $ | 92,943
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Non-GAAP Financial Measures | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
EBITDA | ​ | $ | 58,682 | ​ | $ | 59,035 | ​ | $ | 104,905 | ​ | $ | 107,929
Adjusted EBITDA | ​ | ​ | 65,973 | ​ | ​ | 60,869 | ​ | ​ | 119,488 | ​ | ​ | 109,763
Adjusted EBITDA margin | ​ | ​ | 14.3% | ​ | ​ | 14.5% | ​ | ​ | 13.0% | ​ | ​ | 14.6%
Free cash flow | ​ | $ | 4,702 | ​ | $ | 10,025 | ​ | $ | 3,770 | ​ | $ | 17,620

​

THREE MONTHS ENDED JUNE 30, 2026, COMPARED TO THREE MONTHS ENDED JUNE 30, 2025

Revenues. Revenues of $460.9 million for the three months ended June 30, 2026, increased 9.5% compared to the three months ended June 30, 2025. The increase in revenues was primarily due to increased activities in pressure pumping, downhole tools and coiled tubing, partially offset by a decrease in wireline activity. Management believes the oilfield services completion market continues to be over-supplied and efficiency gains are contributing to excess capacity in the industry. These challenges, although slight improvements were realized during the quarter, have impacted activity levels, asset utilization, and pricing. International revenues represented 2.0% of total revenues in the second quarter of 2026 unchanged compared to 2.0% in the same period of the prior year. We believe that international revenues will continue to be less than 10% of RPC’s consolidated revenues in the foreseeable future.

​

During the second quarter of 2026, the average price of oil was 49.1% higher due to Middle East supply disruptions, while the average price of natural gas was 8.1% lower, compared to the same period in the prior year. The average domestic rig count (Source: Baker Hughes, Inc.) for the three months ended June 30, 2026, was 3.0% lower than in the same period in 2025.

The Technical Services segment revenues for the second quarter of 2026 increased by 10.4% compared to the same period of the prior year due primarily to increased activities in pressure pumping, downhole tools and coiled tubing revenues. Support Services segment revenues for the second quarter of 2026 decreased by 5.4% compared to the same period in the prior year, primarily due to job mix.

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​

Technical Services reported operating income of $27.6 million in the second quarter of 2026, an increase of 30.5% compared to the second quarter of 2025. The increase in Technical Services operating income was primarily due to an increase in downhole tools, coiled tubing and pressure pumping activity, partially offset by a decrease in wireline activity. Support Services reported operating income of $2.3 million for the second quarter of 2026, a decrease of 50.6% which was primarily due to job mix.

Cost of revenues. Cost of revenues increased 8.8% to $345.7 million for the three months ended June 30, 2026, compared to $317.7 million for the three months ended June 30, 2025, primarily due to increases in expenses consistent with higher activity levels. In accordance with Staff Accounting Bulletin (“SAB”) Topic 11.B, cost of revenues presented on the Consolidated Statements of Operations excludes depreciation and amortization totaling $37.4 million for the second quarter of 2026 compared to $36.6 million for the second quarter of 2025.

Selling, general and administrative expenses. Selling, general and administrative expenses increased to $51.5 million for the three months ended June 30, 2026, compared to $40.8 million for the three months ended June 30, 2025, primarily due to an increase in variable expenses consistent with higher activity levels, coupled with an increase in professional and advisory fees.

Acquisition related employment costs. Acquisition related employment costs of $7.3 million represent non-cash accounting adjustments for costs related to the Pintail acquisition that are contingent upon continued employment of certain Pintail employees. These costs include the stock consideration and 50% of the Seller Note paid to the seller as part of acquisition of Pintail that is contingent on the seller’s continued employment. Also included are redistribution payments paid by the seller out of closing cash, the reimbursement of which is subject to the seller’s continued employment with RPC. These costs are amortized over a three-year period.

Depreciation and amortization. Depreciation and amortization increased 1.5% to $43.0 million for the three months ended June 30, 2026, compared to $42.3 million for the three months ended June 30, 2025. Depreciation and amortization increased due to capital expenditures in the past year.

Gain on disposition of assets, net. Gain on disposition of assets, net was $1.4 million for the three months ended June 30, 2026, compared to $2.2 million for the three months ended June 30, 2025. The gain on disposition of assets, net is generally comprised of gains and losses related to various property and equipment dispositions or sales to customers of lost or damaged rental equipment.

Other income, net. Other income, net was $929 thousand for the three months ended June 30, 2026, compared to $1.2 million for the same period in the prior year.

Interest expense and interest income. Interest expense decreased to $671 thousand for the three months ended June 30, 2026, compared to $1.0 million for the three months ended June 30, 2025. Interest expense decreased primarily due to the $20.0 million principal payment on the Seller Note related to the Pintail acquisition, that was made during the second quarter of 2026. Interest expense includes interest on the Seller Note, facility fees on the unused portion of the credit facility and the amortization of the related loan costs. Interest income decreased to $1.5 million compared to $1.6 million in the prior year due to a slightly lower average cash balance.

Income tax provision. Income tax provision was $4.5 million during the three months ended June 30, 2026 compared to $7.2 million tax provision for the same period in the prior year. The effective tax rate was 27.1% for the three months ended June 30, 2026 compared to a 41.3% effective tax rate for the same period in the prior year. The decrease in effective tax rate is primarily due to the smaller impact of permanent adjustments on pretax income.

SIX MONTHS ENDED JUNE 30, 2026, COMPARED TO SIX MONTHS ENDED JUNE 30, 2025

Revenues. Revenues of $915.6 million for the six months ended June 30, 2026, increased 21.5% compared to the six months ended June 30, 2025. The increase in revenues was primarily due to a full six months of revenues from Pintail, which was acquired on April 1, 2025, coupled with revenue increases due to increased activity in pressure pumping, downhole tools and coiled tubing. Management believes the oilfield services completion market continues to be over-supplied and efficiency gains are contributing to excess capacity in the industry. These challenges have impacted activity levels, asset utilization, and pricing. International revenues represented 1.7% of total revenues in the first six months of 2026 compared to 2.2% in the same period of the prior year. We believe that international revenues will continue to be less than 10% of RPC’s consolidated revenues in the foreseeable future.

​

During the six months ended June 30, 2026, the average price of oil was 22.3% higher due to Middle East supply disruptions, and the average price of natural gas was 5.6% higher, both compared to the same period in the prior year. The average domestic rig count (Source: Baker Hughes, Inc.) for the six months ended June 30, 2026, was 5.0% lower than in the same period in 2025.

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​

The Technical Services segment revenues for the six months ended June 30, 2026 increased by 23.1% compared to the same period of the prior year due primarily to the acquisition of Pintail, coupled with an increase in pressure pumping, downhole tools and coiled tubing. Support Services segment revenues for the six months ended June 30, 2026 decreased by 4.1% compared to the same period in the prior year, primarily due to job mix.

Technical Services reported operating income of $43.5 million during the six months ended June 30, 2026, an increase of 24.0% compared to the prior year. The increase in Technical Services operating income was primarily due to an increase in downhole tools, coiled tubing and pressure pumping activity. Support Services reported operating income of $2.7 million for the six months ended June 30, 2026, a decrease of 63.1% compared to the same period of the prior year. The decrease in Support Services operating income was primarily due to job mix.

Cost of revenues. Cost of revenues increased 24.9% to $701.3 million for the six months ended June 30, 2026, compared to $561.6 million for the six months ended June 30, 2025, primarily due to increases in expenses consistent with higher activity levels, coupled with costs from Pintail, which was acquired on April 1, 2025. In accordance with SAB Topic 11.B, cost of revenues presented on the Consolidated Statements of Operations excludes depreciation and amortization totaling $74.6 million for the six months ended June 30, 2026 compared to $69.0 million for the same period in the prior year.

Selling, general and administrative expenses. Selling, general and administrative expenses increased to $99.7 million for the six months ended June 30, 2026, compared to $83.3 million for the six months ended June 30, 2025, primarily due to an increase in variable expenses consistent with higher activity levels.

Acquisition related employment costs. Acquisition related employment costs of $14.6 million represent non-cash accounting adjustments for costs related to the Pintail acquisition that are contingent upon continued employment of certain Pintail employees. These costs include the stock consideration and 50% of the Seller Note paid to the seller as part of acquisition of Pintail that is contingent on the seller’s continued employment. Also included are redistribution payments paid by the seller out of closing cash, the reimbursement of which is subject to the seller’s continued employment with RPC. These costs are amortized over a three-year period.

Depreciation and amortization. Depreciation and amortization increased 10.1% to $85.8 million for the six months ended June 30, 2026, compared to $78.0 million for the six months ended June 30, 2025. Depreciation and amortization increased due to additional fixed assets and intangibles related to the Pintail acquisition, coupled with capital expenditures in the past year.

Gain on disposition of assets, net. Gain on disposition of assets, net was $3.2 million for the six months ended June 30, 2026, compared to $3.7 million for the six months ended June 30, 2025. The gain on disposition of assets, net is generally comprised of gains and losses related to various property and equipment dispositions or sales to customers of lost or damaged rental equipment.

Other income, net. Other income, net was $1.7 million for the six months ended June 30, 2026, compared to $2.0 million for the same period in the prior year.

Interest expense and interest income. Interest expense increased to $1.5 million for the six months ended June 30, 2026, compared to $1.1 million for the six months ended June 30, 2025. Interest expense increased primarily due to interest on the Seller Note issued in conjunction with the Pintail acquisition. Interest expense includes interest on the Seller Note, facility fees on the unused portion of the credit facility and the amortization of related loan costs. Interest income decreased to $3.3 million compared to $5.0 million in the prior year due to a lower average cash balance, primarily due to the funding of the Pintail acquisition during the second quarter of 2025.

Income tax provision. Income tax provision was $8.0 million during the six months ended June 30, 2026 compared to $11.7 million for the same period in the prior year. The effective tax rate was 38.1% for the six months ended June 30, 2026 compared to a 34.5% effective tax rate for the same period in the prior year. The increase in effective tax rate is primarily due to the impact of detrimental discrete and permanent adjustments on pretax income.

Net income, net income margin and diluted earnings per share. Net income was $12.9 million during the six months ended June 30, 2026, or $0.06 diluted earnings per share, compared to net income of $22.2 million during the six months ended June 30, 2025, or $0.10 diluted earnings per share. Net income margin was 1.4% for the six months ended June 30, 2026, compared to 2.9% for the same period in the prior year.

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Adjusted EBITDA and Adjusted EBITDA margin. Adjusted EBITDA was $119.5 million, and Adjusted EBITDA margin was 13.0% for the six months ended June 30, 2026, compared to $109.8 million and 14.6%, respectively, for the same period in the prior year.

Cash provided by operating activities and Free cash flow. Cash provided by operating activities was $74.6 million for the six months ended June 30, 2026, compared to $92.9 million for the six months ended June 30, 2025. The decrease in cash provided by operating activities is due primarily to unfavorable changes in working capital, coupled with lower net income. Working capital was a use of cash during the last six months primarily due to higher accounts receivable consistent with higher activity levels. Free cash flow was $3.8 million for the six months ended June 30, 2026, compared to $17.6 million for the six months ended June 30, 2025.

Non-GAAP Financial Measures

Reconciliation of GAAP and non-GAAP Financial Measures

Disclosed herein are non-GAAP financial measures of EBITDA, Adjusted EBITDA, Adjusted EBITDA margin, and Free cash flow. These measures should not be considered in isolation or as a substitute for performance or liquidity measures prepared in accordance with GAAP.

​

A non-GAAP financial measure is a numerical measure of financial performance, financial position, or cash flows that either 1) excludes amounts, or is subject to adjustments that have the effect of excluding amounts, that are included in the most directly comparable measure calculated and presented in accordance with GAAP in the statements of operations, balance sheet or statement of cash flows, or 2) includes amounts, or is subject to adjustments that have the effect of including amounts, that are excluded from the most directly comparable measure so calculated and presented.

​

Set forth below are reconciliations of these non-GAAP measures with their most directly comparable GAAP measures.

​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Three months ended | ​ | Six months ended
​ | ​ | June 30, | ​ | June 30, | ​ | June 30, | ​ | June 30, | ​
(In thousands) | ​ ​ ​ | 2026 | ​ | 2025 | ​ | 2026 | ​ | 2025 | ​ ​ ​
Reconciliation of Net Income to EBITDA and Adjusted EBITDA |  | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ |
Net income | ​ | $ | 12,075 | ​ | $ | 10,148 | ​ | $ | 12,930 | ​ | $ | 22,178 | ​
Adjustments: | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Add: Income tax provision | ​ |  | 4,500 | ​ |  | 7,151 | ​ |  | 7,954 | ​ |  | 11,656 | ​
Add: Interest expense | ​ |  | 671 | ​ |  | 1,007 | ​ |  | 1,501 | ​ |  | 1,138 | ​
Add: Depreciation and amortization | ​ |  | 42,982 | ​ |  | 42,347 | ​ |  | 85,836 | ​ |  | 77,970 | ​
Less: Interest income | ​ |  | 1,546 | ​ |  | 1,618 | ​ |  | 3,316 | ​ |  | 5,013 | ​
EBITDA | ​ | $ | 58,682 | ​ | $ | 59,035 | ​ | $ | 104,905 | ​ | $ | 107,929 | ​
​ | ​ |  | ​ | ​ |  | ​ | ​ |  | ​ | ​ |  | ​ | ​
Wireline cable expenses | ​ | ​ | — | ​ | ​ | (4,720) | ​ | ​ | — | ​ | ​ | (4,720) | ​
Acquisition related employment costs | ​ |  | 7,291 | ​ |  | 6,554 | ​ |  | 14,583 | ​ |  | 6,554 | ​
Adjusted EBITDA | ​ | $ | 65,973 | ​ | $ | 60,869 | ​ | $ | 119,488 | ​ | $ | 109,763 | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Revenues | ​ | $ | 460,869 | ​ | $ | 420,809 | ​ | $ | 915,624 | ​ | $ | 753,686 | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Net income margin(1) | ​ | ​ | 2.6% | ​ | ​ | 2.4% | ​ | ​ | 1.4% | ​ | ​ | 2.9% | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Adjusted EBITDA margin(1) | ​ | ​ | 14.3% | ​ | ​ | 14.5% | ​ | ​ | 13.0% | ​ | ​ | 14.6% | ​

| (1) | Net income margin is calculated as net income divided by revenues. Adjusted EBITDA margin is calculated as Adjusted EBITDA divided by revenues.

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​ | ​ | Three months ended | ​ | Six months ended
​ | ​ | June 30, | ​ | June 30, | ​ | June 30, | ​ | June 30,
(In thousands) | ​ ​ ​ | 2026 | ​ ​ ​ | 2025 | ​ ​ ​ | 2026 | ​ ​ ​ | 2025
Reconciliation of Cash Provided by Operating Activities to Free Cash Flow |  | ​ | ​ |  | ​ | ​ |  | ​ | ​ |  | ​ | ​
Net cash provided by operating activities | ​ | $ | 43,434 | ​ | $ | 53,078 | ​ | $ | 74,607 | ​ | $ | 92,943
Capital expenditures | ​ | ​ | (38,732) | ​ | ​ | (43,053) | ​ | ​ | (70,837) | ​ | ​ | (75,323)
Free cash flow | ​ | $ | 4,702 | ​ | $ | 10,025 | ​ | $ | 3,770 | ​ | $ | 17,620

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Liquidity and Capital Resources

Cash Flows

The Company’s cash and cash equivalents decreased $30.5 million to $179.5 million as of June 30, 2026, compared to cash and cash equivalents of $210.0 million as of December 31, 2025.

The following table sets forth the historical cash flows for the six months ended June 30, 2026, and 2025:

​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Six months ended June 30,
​ | ​ ​ ​ | 2026 | ​ ​ ​ | 2025
(In thousands) | ​ | ​ | ​ | ​ | ​ | ​
Net cash provided by operating activities | ​ | $ | 74,607 | ​ | $ | 92,943
Net cash used for investing activities | ​ | ​ | (63,416) | ​ | ​ | (231,483)
Net cash used for financing activities | ​ | $ | (41,697) | ​ | $ | (25,322)

​

Cash provided by operating activities for the six months ended June 30, 2026, decreased by $18.3 million compared to the six months ended June 30, 2025, primarily due to unfavorable changes in working capital, coupled with a decrease in net income. Change in working capital was a use of cash of $42.6 million during the six months ended June 30, 2026, compared to a use of cash of $14.8 million in the same period last year. The most significant working capital component change during the six months ended June 30, 2026, was a cash use of $51.0 million in accounts receivable. This amount was coupled with cash use of $13.2 million due to the satisfaction of performance obligations that were associated with a customer cash prepayment, partially offset by a source of cash of $26.9 million in accounts payable due to an increase in activity levels. The changes in the other components of working capital were mainly due to the timing of payments and receipts.

Cash used for investing activities for the six months ended June 30, 2026, decreased by $168.1 million compared to the six months ended June 30, 2025, as cash was used to fund the Pintail acquisition during 2025. This was coupled with a decrease in proceeds from sale of assets, partially offset by a decrease in capital expenditures primarily related to the timing of new equipment deliveries. Capital expenditures were $70.8 million for the six months ended June 30, 2026, a decrease compared to $75.3 million for the six months ended June 30, 2025.

Cash used for financing activities for the six months ended June 30, 2026, increased by $16.4 million compared to the six months ended June 30, 2025, primarily due to the $20.0 million principal payment on the Seller Note related to the Pintail acquisition, that was made during the second quarter of 2026.

Financial Condition and Liquidity

The Company’s financial condition remains strong. We believe the liquidity provided by our existing cash and cash equivalents and our overall strong capitalization is sufficient to meet our requirements for at least the next twelve months. Our material cash requirements, including commitments for capital expenditures, as of the end of the latest fiscal period, are set forth below under “Material Cash Requirements.” The Company’s decisions about the amount of cash to be used for investing and financing activities are influenced by our capital position, and the expected amount of cash to be provided by operations. RPC does not expect to utilize our revolving credit facility to meet these liquidity requirements in the near term.

Our cash and cash equivalents are held at multiple financial institutions, many of which hold funds in excess of amounts insured by the Federal Deposit Insurance Corporation (“FDIC”). These financial institutions are among the largest in the United States and we believe are a safe place to hold our deposits.

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The Company amended its credit agreement during the second quarter of 2026 to, among other things, extend the maturity date for revolving loans from June 22, 2027 to June 30, 2031. The $100.0 million revolving credit facility contains customary terms and conditions, including restrictions on indebtedness, dividend payments, business combinations and other related items, as well as providing for acceleration of amounts due upon the occurrence of certain specified events of default. The revolving credit facility includes a full and unconditional guarantee by the Company's 100% owned domestic subsidiaries whose assets equal substantially all of the consolidated assets of the Company and its subsidiaries. Certain of the Company’s minor subsidiaries are not guarantors. The Credit Agreement’s maturity date is June 30, 2031, and the interest rate is based on Term Secured Overnight Financing Rate (Term SOFR). In addition, the terms of the agreement have a 1.00% per annum floor for Base Rate borrowings and permits the issuance of letters of credit in currencies other than U.S. dollars. As of June 30, 2026, RPC had no outstanding borrowings under the revolving credit facility, and letters of credit outstanding relating to self-insurance programs and contract bids totaled $18.2 million; therefore, a total of $81.8 million of the facility was available. The Company is currently in compliance with the credit facility financial covenants. For additional information with respect to RPC’s facility, see note to the consolidated financial statements titled “Notes Payable.”

​

The Company has a shelf registration statement on Form S-3 filed with the Securities and Exchange Commission (“SEC”) that expires on May 5, 2028, which permits it to offer common stock, preferred stock, warrants, rights, depositary shares, purchase contracts and units containing two or more of the foregoing, in one or more offerings in an aggregate amount of up to $300 million. The Form S-3 is intended to provide us the flexibility to conduct registered sales of our securities, subject to market conditions and our future capital needs.

​

Material Cash Requirements

The Company currently expects capital expenditures to be between $170 million and $190 million for 2026. We expect capital expenditures to be directed towards capitalized maintenance of our existing equipment and selected growth opportunities as well as the upgrade to our Enterprise Resource Planning (“ERP”) systems. For the six months ended June 30, 2026, $70.8 million of capital expenditures had been incurred.

The Company continues its multi-year systems transformation program to upgrade its ERP systems and has capitalized some costs associated with systems implementation. We plan to continue the systems implementation through a phased approach.

As noted above, the Company assumed a Seller Note in connection with the Pintail Acquisition. The Seller Note matures on April 1, 2028, and provides for specified principal payments to be made annually through the third anniversary of the acquisition. The first principal payment of $20 million was made during the second quarter of 2026. Interest on the Seller Note accrues at a variable rate equal to the SOFR for the applicable interest period, plus 2.0% per annum, or where applicable, at a specified default rate. For the second quarter of 2026, interest payments paid on the Seller Note totaled approximately $548 thousand. The Seller Note provides for principal reduction or cancellation upon certain events related to the employment of one of the sellers.

As of June 30, 2026 letters of credit outstanding relating to self-insurance programs and contract bids totaled $18.2 million.

The Company has ongoing sales and use tax audits in various jurisdictions subject to varying interpretations of statutes. The Company has recorded the exposure from these audits to the extent issues are resolved or are probable and reasonably estimated. These audits involve issues that could result in unfavorable outcomes that cannot be currently estimated.

The Company has a stock buyback program with authorization to repurchase up to 49,578,125 shares in the open market. There were no shares repurchased on the open market during the second quarter of 2026, and 12,768,870 shares remained available for repurchase under the current authorization as of June 30, 2026. The Company may repurchase outstanding common shares periodically based on market conditions and our capital allocation strategies. The stock buyback program does not have a predetermined expiration date.

On July 28, 2026, the Board of Directors declared a regular quarterly cash dividend of $0.04 per share payable September 10, 2026, to common stockholders of record at the close of business on August 10, 2026. The Company expects to continue to pay cash dividends to common stockholders, subject to industry conditions and RPC’s earnings, financial condition, and other relevant factors.

Management expects to fund the foregoing obligations primarily from operating cash flows and existing cash, with the revolving credit facility providing added flexibility if needed.

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INFLATION

The Company purchases its equipment and materials from suppliers who provide competitive prices and employ skilled workers from competitive labor markets. If inflation in the general economy increases, the Company’s costs for equipment, materials and labor could increase as well. In addition, increases in activity in the domestic oilfield can cause upward wage pressures in the labor markets from which it hires employees, especially if employment in the general economy increases. Also, activity increases can cause supply disruptions and higher costs of certain materials and key equipment components used to provide services to the Company’s customers. In recent years, the price of labor and raw materials has increased. The cost increases have moderated but remain high by historical standards. Additionally, tariffs can impact the absolute cost of materials, equipment and components, as well as contribute to supply chain disruptions and inflationary pressures on domestic suppliers. While the Company has not experienced a material impact from tariffs to date, the future effect of tariffs and other trade-related measures remains uncertain and could result in higher costs, reduced availability of certain materials and equipment, or other operational challenges.

OUTLOOK

RPC believes current commodity prices remain supportive of drilling and completion activity levels. While recent volatility in oil prices and broader macroeconomic uncertainty could cause customers to delay or modify planned activity, the Company has observed improving pricing trends and activity visibility in certain service lines during recent months. Recent geopolitical events in the Middle East have added new dynamics to the global market where infrastructure and physical supply have been restricted. Depending on the duration of these conflicts, activity outside of the Middle East could benefit.

We continue to monitor the supply and demand for our services and the competitive environment, including trends such as increasing customer preferences for more efficient equipment. Increased efficiencies in recent years of oilfield completion services and equipment, particularly in pressure pumping, has inherently contributed to oversupply in the oilfield services market. We believe that competition will remain intense.

OFF BALANCE SHEET ARRANGEMENTS

The Company does not have any material off balance sheet arrangements.

RELATED PARTY TRANSACTIONS

During the second quarter, Marine Products Corporation (“Marine Products”) merged with MasterCraft Holdings, Inc. (“MasterCraft”), as previously announced. Following the merger, the group that includes Amy R. Kreisler and Timothy C. Rollins, each of whom is a director of RPC, certain of their family members, and certain companies under their and /or their family members' control continue to hold a controlling interest in the Company and has acquired a material interest in MasterCraft. As part of the merger, RPC entered into a Transition Services Agreement with MasterCraft to provide certain services through the remainder of 2026.

In addition, RPC provided certain administrative services to Marine Products pursuant to various agreements that defined the companies’ relationship, which were canceled on the closing date of the merger. Charges from RPC to both MasterCraft and Marine Products totaled $808 thousand for the six months ended June 30, 2026, while the amounts charged to Marine Products for the six months ended June 30, 2025, were $552 thousand.

The Company periodically purchases, in the ordinary course of business, products or services from suppliers that are owned by officers or significant stockholders of or affiliated with certain directors of RPC. The total amounts paid to these affiliated parties were $30 thousand for the six months ended June 30, 2026, and $32 thousand for the six months ended June 30, 2025. All of the related party transactions are reviewed and approved by a subcommittee of the Nominating and Corporate Governance Committee consisting of independent members, or in certain instances, by the Audit Committee.

A group that includes Amy R. Kreisler and Timothy C. Rollins, each of whom is a director of the Company, certain of their family members, and certain companies under their and/or their family members’ control, controls in excess of fifty percent of the Company’s voting power.

Pursuant to the merger of Marine Products and MasterCraft, RPC and Marine Products Group, LLC (a subsidiary of MasterCraft) now own 50% each of a limited liability company, 255 RC LLC, that was created for the joint purchase and ownership of a corporate

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aircraft. RPC recorded certain net operating costs comprised of rent and an allocable share of fixed costs of $86 thousand for the six months ended June 30, 2026, compared to $100 thousand for the comparable period in 2025.

Pursuant to the registration rights agreement between us and our largest stockholder, LOR, Inc. (LOR) and certain of its affiliates (collectively, the Selling Stockholders) and their permitted transferees, we have filed a shelf registration statement on Form S-3 with the SEC that expires on May 5, 2028. The Form S-3 shelf registration statement registers the resale of up to 127,235,202 shares of our common stock, which represents most of the Company securities held by the Selling Stockholders. In addition, they have the right to require, subject to certain conditions and limitations, certain piggyback registrations with respect to registrations initiated by us.

CRITICAL ACCOUNTING POLICIES

The discussion of Critical Accounting Policies is incorporated herein by reference from the Company’s annual report on Form 10-K for the fiscal year ended December 31, 2025. There have been no significant changes in the critical accounting policies since year-end.

IMPACT OF RECENT ACCOUNTING STANDARDS

See Note to the Consolidated Financial Statements titled “Recent Accounting Standards” for a description of recent accounting standards, including the expected dates of adoption and estimated effects on results of operations and financial condition.

SEASONALITY

Oil and natural gas prices affect demand throughout the oil and natural gas industry, including the demand for the Company’s products and services. The Company’s business depends in large part on the economic conditions of the oil and gas industry, and specifically on the capital expenditures of its customers related to the exploration and production of oil and natural gas. There is a positive correlation between these expenditures and customers’ demand for the Company’s services. As such, when these expenditures fluctuate, customers’ demand for the Company’s services fluctuates as well. These fluctuations depend on the current and projected prices of oil and natural gas and resulting drilling activity and are not seasonal to any material degree.

FORWARD-LOOKING STAT EMENTS

Certain statements made in this report that are not historical facts are “forward-looking statements” under the Private Securities Litigation Reform Act of 1995. The words “may,” “will,” “expect,” “believe,” “anticipate,” “project,” “estimate,” “focus,” “plan,” and similar expressions generally identify forward-looking statements. Such forward-looking statements may include, without limitation, statements that relate to our business strategy, plans and objectives, and our beliefs and expectations regarding future demand for our equipment and services, trends in the industry, and other events and conditions that may influence the oilfield services market and our performance in the future. Forward-looking statements made elsewhere in this report also include, without limitation, statements regarding: our belief that operating results for the three and six months ended June 30, 2026 are not necessarily indicative of the results to be expected for the year ending December 31, 2026, estimated future amortization expense, the impact of ongoing sales and use tax audits in various jurisdictions, the outcome of lawsuits, legal proceedings, claims and audits, interest rate risk, the impact on our financial results of geopolitical factors such as political instability in the petroleum-producing regions of the world, the actions of the OPEC oil cartel, overall economic conditions and weather in the United States, the prices of oil and natural gas, other shifting trends in our industry, and our customers’ drilling and production activities, the impact of global conflicts including the conflict involving Iran and the blockade of the Strait of Hormuz and other oil transportation shipping lanes, the timing and amount of repurchases of shares of the Company’s common stock, that we continuously monitor factors that impact current and expected customer activity levels, such as the prices of oil and natural gas, changes in pricing for our services and equipment, and utilization of our equipment and personnel, our belief that international revenues will continue to be less than 10% of RPC’s consolidated revenues in the foreseeable future, that the Company currently expects capital expenditures to be between $170 million and $190 million in 2026 and that we expect capital expenditures to be directed towards capitalized maintenance of our existing equipment and selected growth opportunities as well as the upgrade to our ERP and supply chain systems, our plan to continue the ERP implementation through a phased approach, that we expect to continue to pay cash dividends to common stockholders, subject to industry conditions and RPC’s earnings, financial condition, and other relevant factors, our expectation to fund obligations primarily from operating cash flows and existing cash, with the revolving credit facility providing added flexibility if needed, that our financial condition remains strong, exposure to market risk and expectations regarding its impact, our belief that competition will remain intense, that current commodity prices remain supportive of drilling and completion activity levels, that while recent volatility in oil prices and broader macroeconomic uncertainty could cause customers to delay or modify planned activity, the Company has observed improving pricing trends and activity visibility in certain service lines during recent months, that recent geopolitical events in the Middle East have

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added new dynamics to the global market where infrastructure and physical supply have been restricted, and depending on the duration of the conflict’s impacts, activity outside of the Middle East could benefit, and expectations regarding changes in internal controls.

​

Such forward-looking statements are based on certain assumptions and analyses made by our management in light of its experience and its perception of historical trends, current conditions, expected future developments and other factors it believes to be appropriate. These statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of RPC to be materially different from any future results, performance or achievements expressed or implied in such forward-looking statements. Risk factors that could cause such future events not to occur as expected include the following: the volatility of oil and natural gas prices; our concentration of customers in the energy industry and periodic downturns; our business depends on capital spending by our customers, many of whom rely on outside financing to fund their operations; dependence on our key personnel; our ability to identify or complete acquisitions; our ability to attract and retain skilled workers; some of our equipment and several types of materials used in providing our services are available from a limited number of suppliers; whether outside financing is available or favorable to us; increasing expectations from customers, investors and other stakeholders regarding our environmental, social and governance practices; our compliance with regulations and environmental laws; possible declines in the price of oil and natural gas, which tend to result in a decrease in drilling activity and therefore a decline in the demand for our services; the ultimate impact of current and potential political unrest and armed conflict in the oil producing regions of the world, including the current conflict involving Israel and the Gaza Strip, which could impact drilling activity; adverse weather conditions in oil or gas producing regions, including the Gulf of America; competition in the oil and gas industry, especially in pressure pumping, and adverse impacts from the industry being over-supplied; limits to the Company’s ability to implement price increases; the potential impact of possible future regulations on hydraulic fracturing on our business; risks of international operations; reliance on large customers; our operations rely on digital systems and processes that are subject to cyber-attacks or other threats; and our cash and cash equivalents are held primarily at a single financial institution, the potential for tariffs to increase our costs of materials and reduce our profitability, and capital expenditures are determined based on current expectations for our business, as a result, the occurrence of any of the foregoing or changes in our business model or expectations may cause us to materially increase or decrease our capital spending plans. Additional discussion of factors that could cause actual results to differ from management’s projections, forecasts, estimates and expectations is contained in the Annual Report on Form 10-K for the fiscal year ended December 31, 2025, at Item 1A. Risk Factor, and in this Quarterly Report on Form 10-Q. Except as required by law, the Company undertakes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.

​

ITEM 3. QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK

The Company is subject to interest rate risk exposure through borrowings on its credit facility and the Pintail Seller Note. As of June 30, 2026, there were no outstanding interest-bearing advances on our credit facility, which provides for interest at a floating rate.

Additionally, the Company is exposed to market risk resulting from changes in foreign exchange rates. However, since the majority of the Company’s transactions occur in U.S. currency, this risk is not expected to have a material effect on its consolidated results of operations or financial condition.

​

ITEM 4. CONTROLS AND PROCEDURES

Evaluation of disclosure controls and procedures – The Company maintains disclosure controls and procedures that are designed to ensure that information required to be disclosed in its Exchange Act reports is recorded, processed, summarized and reported within the time periods specified in the Commission’s rules and forms, and that such information is accumulated and communicated to its management, including the Chief Executive Officer and Chief Financial Officer, as appropriate, to allow timely decisions regarding required disclosure.

As of the end of the period covered by this report, June 30, 2026 (the “Evaluation Date”), the Company carried out an evaluation, under the supervision and with the participation of its management, including the Chief Executive Officer and Chief Financial Officer, of the effectiveness of the design and operation of its disclosure controls and procedures. Based upon this evaluation, the Chief Executive Officer and the Chief Financial Officer concluded that the Company’s disclosure controls and procedures were effective at a reasonable assurance level as of the Evaluation Date.

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Changes in internal control over financial reporting – During the quarter ended June 30, 2026, the Company continued to implement and enhance internal controls related to the integration of Pintail Alternative Energy LLC, to further standardize its financial reporting processes and related controls. There were no other changes in the Company’s internal control over financial reporting during the second quarter of 2026 which were identified in connection with management’s evaluation required by paragraph (d) of Rules 13a-15 and 15d-15 under the Exchange Act, that have materially affected, or are reasonably likely to materially affect, the Company’s internal control over financial reporting.

PART II. OTHER INFORMATION

​

ITEM 1. LEGAL PROCEEDINGS

RPC is involved in litigation from time to time in the ordinary course of its business. RPC does not believe that the outcome of such litigation will have a material adverse effect on the financial position or results of operations of RPC.

​

ITEM 1A. RISK FACTORS

There have been no material changes from the risk factors previously disclosed in the Company’s Annual Report on Form 10-K for the year ended December 31, 2025, and the Quarterly Report on Form 10-Q for the quarter ended March 31, 2026.

ITEM 2. UNREGISTERED SALES OF EQUITY SECURITIES, USE OF PROCEEDS AND ISSUER PURCHASES OF EQUITY SECURITIES

None.

ITEM 3. DEFAULTS UPON SENIOR SECURITIES

None.

​

ITEM 4. MINE SAFETY DISCLOSURES

Not applicable.

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ITEM 5. OTHER INFORMATION

​

During the six months ended June 30, 2026, no director or officer, as defined in Rule 16a-1(f) under the Securities Exchange Act of 1934, as amended, of the Company adopted or terminated a “Rule 10b5-1 trading arrangement” or “non-Rule 10b5-1 trading arrangement,” as each term is defined in Item 408(a) of Regulation S-K.

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ITEM 6. EXHIBITS

Exhibit Number | ​ ​ ​ | Description
2.1 |  | Membership Interest Purchase Agreement dated April 1, 2025 (portions of this Exhibit have been omitted) (incorporated herein by reference to Exhibit 2.1 to the Current Report on Form 8‑K filed on April 7, 2025).
3.1(a) | ​ | Restated certificate of incorporation of RPC, Inc. (incorporated herein by reference to Exhibit 3.1 to the Annual Report on Form 10-K for the fiscal year ended December 31, 1999).
3.1(b) |  | Certificate of amendment of the certificate of incorporation of RPC, Inc. (incorporated by reference to Exhibit 3.1(b) to Registrant’s Quarterly Report on Form 10-Q filed on May 8, 2006).
3.1(c) |  | Certificate of amendment of the certificate of incorporation of RPC, Inc. (incorporated by reference to Exhibit 3.1(c) to the Registrant’s Quarterly Report on Form 10-Q filed on August 2, 2011).
3.2 |  | Amended and Restated Bylaws of RPC, Inc. (incorporated herein by reference to Exhibit 3.2 to the Form 10-Q filed on October 30, 2025).
4 |  | Form of Stock Certificate (incorporated herein by reference to Exhibit 4 to the Registrant’s Annual Report on Form 10-K for the fiscal year ended December 31, 1998).
10.1 ​ | ​ | Amended and Restated Credit Agreement (incorporated herein by reference to Exhibit 99.1 to the Current Report on Form 8‑K filed on July 7, 2026).
31.1 |  | Section 302 certification for Chief Executive Officer.
31.2 |  | Section 302 certification for Chief Financial Officer.
32.1 |  | Section 906 certifications for Chief Executive Officer and Chief Financial Officer.
101.INS |  | Inline XBRL Instance Document
101.SCH |  | Inline XBRL Taxonomy Extension Schema Document
101.CAL |  | Inline XBRL Taxonomy Extension Calculation Linkbase Document
101.LAB |  | Inline XBRL Taxonomy Extension Label Linkbase Document
101.PRE |  | Inline XBRL Taxonomy Extension Presentation Linkbase Document
101.DEF |  | Inline XBRL Taxonomy Extension Definition Linkbase Document
104 | ​ | Cover Page Interactive Data File (formatted as Inline XBRL and contained in exhibit 101)

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SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized.

​ | ​ | RPC, INC.
​ | ​ | ​
​ | ​ | /s/ Ben M. Palmer
Date: July 30, 2026 | ​ | Ben M. Palmer
​ | ​ | President and Chief Executive Officer
​ | ​ | (Principal Executive Officer)
​ | ​ | ​
​ | ​ | /s/ Michael L. Schmit
Date: July 30, 2026 | ​ | Michael L. Schmit
​ | ​ | Vice President, Chief Financial Officer and Corporate Secretary
​ | ​ | (Principal Financial and Accounting Officer)

​

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