Document

Neal Lux, President and Chief Executive Officer, remarked, “At the beginning of the quarter, we guided a substantial increase in financial performance, and our team exceeded expectations. Sequentially, we grew market share 13%, increased revenue 8%, expanded gross and adjusted EBITDA margins 230 and 300 basis points, and improved adjusted net income 148%. Importantly, free cash flow enabled us to repurchase shares while reducing net leverage to 1.1 times. By executing our 'Beat the Market' strategy and delivering solid operational performance, we achieved a stellar quarter.

Drilling and Completions segment revenue was $139 million, a 10% increase due to higher demand for coiled tubing, wireline cables, and capital equipment, particularly iron roughnecks and radiators. Adjusted EBITDA of $16 million increased 29%, benefiting from cost management and improved plant utilization related to facility consolidation. Book-to-bill was 104% with strong Subsea product line orders for aftermarket upgrades to ROVs. Drilling and Completions provides consumable products and capital equipment for drilling, subsea, coiled tubing, wireline, and stimulation markets.

Artificial Lift and Downhole segment revenue was $87 million, a 6% increase, due to higher demand for sand and flow control solutions, artificial lift products, and casing equipment. Partially offsetting the increase was delayed production equipment deliveries. Adjusted EBITDA of $22 million increased 30% from higher sales volumes and favorable product mix. Book-to-bill was 105% with strong Downhole product line orders. Artificial Lift and Downhole engineers, manufactures, and supplies products for well construction, artificial lift, and oil and natural gas processing.

The Company presents its financial results in accordance with GAAP. However, management believes that non-GAAP measures are useful tools for evaluating the Company's overall financial performance. Not all companies define these measures in the same way. In addition, these non-GAAP financial measures are not a substitute for those prepared in accordance with GAAP and should, therefore, be considered only as a supplement. Please see the attached schedules for reconciliations between GAAP and the non-GAAP financial measures used in this press release. The company is unable to provide a reconciliation of forward-looking adjusted net income and adjusted EBITDA to GAAP net income because items that impact GAAP net income, such as restructuring charges, transaction expenses, and foreign exchange losses (gains), cannot be reasonably predicted.

This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. All statements, other than statements of historical facts, included in this press release that address activities, events or developments that the Company expects, believes or anticipates will or may occur in the future are forward-looking statements. Without limiting the generality of the foregoing, forward-looking statements contained in this press release specifically include the expectations of plans, strategies, objectives and anticipated financial and operating results of the Company, including any statement about the Company's outlook, future financial position, liquidity and capital resources, operations, performance, cash flow, acquisitions, returns, capital expenditure budgets, new product development activities, strategic investments, share repurchases, costs and other guidance included in this press release.

These statements are based on certain assumptions made by the Company based on management's experience and perception of historical trends, current conditions, anticipated future developments and other factors believed to be appropriate. Such statements are subject to a number of assumptions, risks and uncertainties, many of which are beyond the control of the Company, which may cause actual results to differ materially from those implied or expressed by the forward-looking statements. Among other things, these include the volatility of oil and natural gas prices, oilfield development activity levels, the availability of raw materials and specialized equipment, the Company's ability to deliver backlog in a timely fashion, the availability of skilled and qualified labor, competition in the oil and natural gas industry, governmental regulation and taxation of the oil and natural gas industry, the Company's ability to implement new technologies and services, the availability and terms of capital, and uncertainties regarding environmental regulations or litigation and other legal or regulatory developments affecting the Company's business, and other important factors that could cause actual results to differ materially from those projected as described in the Company's filings with the U.S. Securities and Exchange Commission.


Forum Energy Technologies, Inc.
Condensed consolidated statements of income
(Unaudited)

	Three months ended
	June 30,				March 31,
(in thousands, except per share information)	2026		2025		2026
Revenue	$	226,217	$	199,764	$	208,700
Cost of sales	154,865		140,408		147,709
Gross profit	71,352		59,356		60,991
Operating expenses
Selling, general and administrative expenses	50,260		51,185		50,008
Transaction expenses	125		184		148

Loss (gain) on disposal of assets and other	460		(6,696)		(170)
Total operating expenses	50,845		44,673		49,986
Operating income	20,507		14,683		11,005
Other expense (income)
Interest expense	4,272		4,706		4,141
Foreign exchange losses (gains) and other, net	226		(3,942)		(523)

Total other expense	4,498		764		3,618
Income before taxes	16,009		13,919		7,387
Income tax expense	3,602		6,219		2,895
Net income (1)	$	12,407	$	7,700	$	4,492

Weighted average shares outstanding
Basic	11,290		12,350		11,214
Diluted	11,773		12,554		11,641

Earnings per share
Basic	$	1.10	$	0.62	$	0.40
Diluted	$	1.05	$	0.61	$	0.39

(1) Refer to Table 1 for schedule of adjusting items.


Forum Energy Technologies, Inc.
Condensed consolidated statements of income
(Unaudited)

	Six months ended
	June 30,
(in thousands, except per share information)	2026		2025
Revenue	$	434,917	$	393,043
Cost of sales	302,574		275,326
Gross profit	132,343		117,717
Operating expenses
Selling, general and administrative expenses	100,268		100,568
Transaction expenses	273		235

Loss (gain) on disposal of assets and other	290		(6,573)
Total operating expenses	100,831		94,230
Operating income	31,512		23,487
Other expense (income)
Interest expense	8,413		9,689
Foreign exchange gains and other, net	(297)		(5,010)

Total other expense	8,116		4,679
Income before taxes	23,396		18,808
Income tax expense	6,497		9,986
Net income (1)	$	16,899	$	8,822

Weighted average shares outstanding
Basic	11,252		12,327
Diluted	11,707		12,542

Earnings per share
Basic	$	1.50	$	0.72
Diluted	$	1.44	$	0.70

(1) Refer to Table 2 for schedule of adjusting items.


Forum Energy Technologies, Inc.
Condensed consolidated balance sheets
(Unaudited)

	June 30,		December 31,
(in thousands of dollars)	2026		2025
Assets
Current assets
Cash and cash equivalents	$	33,716	$	34,661
Accounts receivable—trade, net	173,963		142,396
Inventories, net	233,473		239,420
Other current assets	42,370		32,407
Total current assets	483,522		448,884
Property and equipment, net of accumulated depreciation	47,962		51,905
Operating lease assets	80,798		80,733
Goodwill and other intangible assets, net	144,605		158,304
Other long-term assets	13,823		12,629
Total assets	$	770,710	$	752,455
Liabilities and equity
Current liabilities
Current portion of long-term debt	$	1,273	$	1,407
Other current liabilities	219,288		205,127
Total current liabilities	220,561		206,534
Long-term debt, net of current portion	142,435		134,521
Other long-term liabilities	117,932		120,257
Total liabilities	480,928		461,312
Total equity	289,782		291,143
Total liabilities and equity	$	770,710	$	752,455


Forum Energy Technologies, Inc.
Condensed consolidated cash flow information
(Unaudited)

	Six months ended June 30,
(in thousands of dollars)	2026		2025
Cash flows from operating activities
Net income	$	16,899	$	8,822
Depreciation and amortization	15,334		18,051
Inventory write-down	5,897		760

Gain on sale-leaseback transactions	—		(6,903)
Other noncash items and changes in working capital	(24,074)		4,369
Net cash provided by operating activities	14,056		25,099

Cash flows from investing activities
Capital expenditures for property and equipment	(3,189)		(3,061)
Proceeds from sale of property and equipment	159		57
Proceeds from sale-leaseback transactions	—		8,028

Net cash provided by (used in) investing activities	(3,030)		5,024

Cash flows from financing activities
Borrowings of debt	265,195		271,326
Repayments of debt	(258,266)		(300,092)
Repurchases of stock	(7,567)		(6,295)
Payment of withheld taxes on stock-based compensation plans	(9,274)		(1,321)
Deferred financing costs	(1,659)		(914)
Net cash used in financing activities	(11,571)		(37,296)

Effect of exchange rate changes on cash	(400)		1,479
Net decrease in cash and cash equivalents	$	(945)	$	(5,694)


Forum Energy Technologies, Inc.
Supplemental schedule - Segment information
(Unaudited)

	As Reported									As Adjusted (3)
	Three months ended									Three months ended
(in thousands of dollars)	June 30, 2026			June 30, 2025			March 31, 2026			June 30, 2026			June 30, 2025			March 31, 2026
Revenue
Drilling and Completions	$	139,004		$	117,237		$	126,739		$	139,004		$	117,237		$	126,739
Artificial Lift and Downhole	87,422			82,547			82,098			87,422			82,547			82,098
Eliminations	(209)			(20)			(137)			(209)			(20)			(137)
Total revenue	$	226,217		$	199,764		$	208,700		$	226,217		$	199,764		$	208,700

Operating income (loss)
Drilling and Completions	$	13,715		$	7,271		$	8,909		$	14,328		$	8,408		$	10,081
Operating Margin %	9.9		%	6.2		%	7.0		%	10.3		%	7.2		%	8.0		%
Artificial Lift and Downhole	16,350			10,391			11,584			16,449			10,533			11,593
Operating Margin %	18.7		%	12.6		%	14.1		%	18.8		%	12.8		%	14.1		%
Corporate	(8,973)			(9,491)			(9,510)			(9,246)			(9,299)			(9,055)
Total segment operating income	21,092			8,171			10,983			21,531			9,642			12,619
Other items not in segment operating income (1)	(585)			6,512			22			(423)			(18)			(64)
Total operating income	$	20,507		$	14,683		$	11,005		$	21,108		$	9,624		$	12,555
Operating Margin %	9.1		%	7.4		%	5.3		%	9.3		%	4.8		%	6.0		%

EBITDA (2)
Drilling and Completions	$	14,933		$	14,674		$	12,170		$	16,494		$	11,412		$	12,807
EBITDA Margin %	10.7		%	12.5		%	9.6		%	11.9		%	9.7		%	10.1		%
Artificial Lift and Downhole	20,823			22,626			15,943			21,659			16,687			16,619
EBITDA Margin %	23.8		%	27.4		%	19.4		%	24.8		%	20.2		%	20.2		%
Corporate	(7,943)			(9,600)			(8,783)			(6,423)			(7,578)			(6,540)
Total EBITDA	$	27,813		$	27,700		$	19,330		$	31,730		$	20,521		$	22,886
EBITDA Margin %	12.3		%	13.9		%	9.3		%	14.0		%	10.3		%	11.0		%

(1) Includes transaction expenses, gain on sale-leaseback transaction, and gain (loss) on disposal of assets and other.
(2) The Company believes that the presentation of EBITDA is useful to investors because EBITDA is an appropriate measure for evaluating operating performance and liquidity that reflects the resources available for strategic opportunities including, among others, investing in the business, strengthening the balance sheet, repurchasing securities and making strategic acquisitions. In addition, EBITDA is a widely used benchmark in the investment community. See the attached separate schedule for the reconciliation of GAAP to non-GAAP financial information.
(3) Refer to Table 1 for schedule of adjusting items.


Forum Energy Technologies, Inc.
Supplemental schedule - Segment information
(Unaudited)

	As Reported						As Adjusted (3)
	Six months ended						Six months ended
(in thousands of dollars)	June 30, 2026			June 30, 2025			June 30, 2026			June 30, 2025
Revenue
Drilling and Completions	$	265,743		$	232,806		$	265,743		$	232,806
Artificial Lift and Downhole	169,520			160,343			169,520			160,343
Eliminations	(346)			(106)			(346)			(106)
Total revenue	$	434,917		$	393,043		$	434,917		$	393,043

Operating income (loss)
Drilling and Completions	$	22,624		$	16,650		$	24,409		$	18,209
Operating Margin %	8.5		%	7.2		%	9.2		%	7.8		%
Artificial Lift and Downhole	27,934			17,688			28,042			17,991
Operating Margin %	16.5		%	11.0		%	16.5		%	11.2		%
Corporate	(18,483)			(17,189)			(18,301)			(16,869)
Total segment operating income	32,075			17,149			34,150			19,331
Other items not in segment operating income(1)	(563)			6,338			(487)			(141)
Total operating income	$	31,512		$	23,487		$	33,663		$	19,190
Operating Margin %	7.2		%	6.0		%	7.7		%	4.9		%

EBITDA (2)
Drilling and Completions	$	27,103		$	27,978		$	29,301		$	23,821
EBITDA Margin %	10.2		%	12.0		%	11.0		%	10.2		%
Artificial Lift and Downhole	36,766			35,351			38,278			30,179
EBITDA Margin %	21.7		%	22.0		%	22.6		%	18.8		%
Corporate	(16,726)			(16,781)			(12,963)			(13,421)
Total EBITDA	$	47,143		$	46,548		$	54,616		$	40,579
EBITDA Margin %	10.8		%	11.8		%	12.6		%	10.3		%

(1) Includes transaction expenses, gain on sale-leaseback transaction, and gain (loss) on disposal of assets and other.
(2) The Company believes that the presentation of EBITDA is useful to investors because EBITDA is an appropriate measure for evaluating operating performance and liquidity that reflects the resources available for strategic opportunities including, among others, investing in the business, strengthening the balance sheet, repurchasing securities and making strategic acquisitions. In addition, EBITDA is a widely used benchmark in the investment community. See the attached separate schedule for the reconciliation of GAAP to non-GAAP financial information.
(3) Refer to Table 2 for schedule of adjusting items.


Forum Energy Technologies, Inc.
Supplemental schedule - Orders information
(Unaudited)

	Three months ended
(in thousands of dollars)	June 30, 2026		June 30, 2025		March 31, 2026
Orders
Drilling and Completions	$	144,308	$	177,792	$	135,458
Artificial Lift and Downhole	91,631		85,338		85,710
Total orders	$	235,939	$	263,130	$	221,168

Revenue
Drilling and Completions	$	139,004	$	117,237	$	126,739
Artificial Lift and Downhole	87,422		82,547		82,098
Eliminations	(209)		(20)		(137)
Total revenue	$	226,217	$	199,764	$	208,700

Book to bill ratio (1)
Drilling and Completions	1.04		1.52		1.07
Artificial Lift and Downhole	1.05		1.03		1.04
Total book to bill ratio	1.04		1.32		1.06

(1) The book-to-bill ratio is calculated by dividing the dollar value of orders received in a given period by the revenue earned in that same period. The Company believes that this ratio is useful to investors because it provides an indication of whether the demand for our products is strengthening or declining. A ratio of greater than one is indicative of improving market demand, while a ratio of less than one would suggest weakening demand. In addition, the Company believes the book-to-bill ratio provides more meaningful insight into future revenues for our business than other measures, such as order backlog, because the majority of our products are activity based consumable items or shorter cycle capital equipment, neither of which are typically ordered by customers far in advance.


Forum Energy Technologies, Inc.
Reconciliation of GAAP to non-GAAP financial information
(Unaudited)
Table 1 - Adjusting items

	Three months ended
	June 30, 2026									June 30, 2025									March 31, 2026
(in thousands, except per share information)	Operating income			EBITDA (1)			Net income (loss)			Operating income			EBITDA (1)			Net income (loss)			Operating income			EBITDA (1)			Net income (loss)
As reported	$	20,507		$	27,813		$	12,407		$	14,683		$	27,700		$	7,700		$	11,005		$	19,330		$	4,492
% of revenue	9.1		%	12.3		%	5.5		%	7.4		%	13.9		%	3.9		%	5.3		%	9.3		%	2.2		%
Restructuring and other costs	865			865			865			1,663			1,663			1,663			1,488			1,488			1,488
Transaction expenses	125			125			125			184			184			184			148			148			148
Inventory and other assets impairment adjustments	(389)			(389)			(389)			(3)			(3)			(3)			(86)			(86)			(86)

Stock-based compensation expense	—			2,616			—			—			1,749			—			—			2,520			—


Gain on sale-leaseback transactions	—			—			—			(6,903)			(6,903)			(6,903)			—			—			—
Foreign exchange losses (gains) and other, net (2)	—			700			700			—			(3,869)			(3,869)			—			(514)			(514)


As adjusted (1)	$	21,108		$	31,730		$	13,708		$	9,624		$	20,521		$	(1,228)		$	12,555		$	22,886		$	5,528
% of revenue	9.3		%	14.0		%	6.1		%	4.8		%	10.3		%	N/A			6.0		%	11.0		%	2.6		%

Diluted shares outstanding as reported							11,773									12,554									11,641
Diluted shares outstanding as adjusted							11,773									12,554									11,641

Diluted EPS - as reported							$	1.05								$	0.61								$	0.39
Diluted EPS - as adjusted							$	1.16								$	(0.10)								$	0.47

(1) The Company believes that the presentation of EBITDA, adjusted EBITDA, adjusted operating loss, adjusted net loss and adjusted diluted EPS are useful to investors because (i) each of these financial metrics are useful to investors to assess and understand operating performance, especially when comparing those results with previous and subsequent periods or forecasting performance for future periods, primarily because management views the excluded items to be outside of normal operating results and (ii) EBITDA is an appropriate measure of evaluating operating performance and liquidity that reflects the resources available for strategic opportunities including, among others, investing in the business, strengthening the balance sheet, repurchasing securities and making strategic acquisitions. In addition, these benchmarks are widely used in the investment community. See the attached separate schedule for the reconciliation of GAAP to non-GAAP financial information.
(2) Foreign exchange, net primarily relates to cash and receivables denominated in U.S. dollars by some of our non-U.S. subsidiaries that report in a local currency, and therefore the loss (gain) has no economic impact in dollar terms.


Forum Energy Technologies, Inc.
Reconciliation of GAAP to non-GAAP financial information
(Unaudited)
Table 2 - Adjusting items

	Six months ended
	June 30, 2026									June 30, 2025
(in thousands, except per share information)	Operating income			EBITDA (1)			Net income (loss)			Operating income			EBITDA (1)			Net income (loss)
As reported	$	31,512		$	47,143		$	16,899		$	23,487		$	46,548		$	8,822
% of revenue	7.2		%	10.8		%	3.9		%	6.0		%	11.8		%	2.2		%
Restructuring and other costs	2,353			2,353			2,353			2,459			2,459			2,459
Transaction expenses	273			273			273			235			235			235
Inventory and other assets impairment adjustments	(475)			(475)			(475)			(88)			(88)			(88)

Stock-based compensation expense	—			5,136			—			—			3,567			—


Gain on sale-leaseback transactions	—			—			—			(6,903)			(6,903)			(6,903)
Foreign exchange losses (gains) and other, net (2)	—			186			186			—			(5,239)			(5,239)

As adjusted (1)	$	33,663		$	54,616		$	19,236		$	19,190		$	40,579		$	(714)
% of revenue	7.7		%	12.6		%	4.4		%	4.9		%	10.3		%	N/A

Diluted shares outstanding as reported							11,707									12,542
Diluted shares outstanding as adjusted							11,707									12,542

Diluted EPS - as reported							$	1.44								$	0.70
Diluted EPS - as adjusted							$	1.64								$	(0.06)

(1) The Company believes that the presentation of EBITDA, adjusted EBITDA, adjusted operating loss, adjusted net loss and adjusted diluted EPS are useful to investors because (i) they assist with assessing and understanding operating performance, especially when comparing those results with previous and subsequent periods or forecasting performance for future periods, primarily because management views the excluded items to be outside of the Company's normal operating results and (ii) EBITDA is an appropriate measure of evaluating operating performance and liquidity that reflects the resources available for strategic opportunities including, among others, investing in the business, strengthening the balance sheet, repurchasing securities and making strategic acquisitions. In addition, these benchmarks are widely used in the investment community. See the attached separate schedule for the reconciliation of GAAP to non-GAAP financial information.

(2) Foreign exchange, net primarily relates to cash and receivables denominated in U.S. dollars by some of our non-U.S. subsidiaries that report in a local currency, and therefore the loss (gain) has no economic impact in dollar terms.


Forum Energy Technologies, Inc.
Reconciliation of GAAP to non-GAAP financial information
(Unaudited)
Table 3 - Adjusting Items

	Three months ended
(in thousands of dollars)	June 30, 2026		June 30, 2025		March 31, 2026
EBITDA reconciliation (1)
Net income	$	12,407	$	7,700	$	4,492
Interest expense	4,272		4,706		4,141
Depreciation and amortization	7,532		9,075		7,802
Income tax expense	3,602		6,219		2,895
EBITDA	$	27,813	$	27,700	$	19,330

(1) The Company believes adjusted EBITDA is useful to investors because it is an appropriate measure of evaluating operating performance and liquidity. It reflects the resources available for strategic opportunities including, among others, investing in the business, strengthening the balance sheet, repurchasing securities, and making strategic acquisitions. In addition, adjusted EBITDA is a widely used benchmark in the investment community.


Forum Energy Technologies, Inc.
Reconciliation of GAAP to non-GAAP financial information
(Unaudited)

Table 4 - Adjusting Items
	Six months ended
(in thousands of dollars)	June 30, 2026		June 30, 2025
EBITDA reconciliation (1)
Net income	$	16,899	$	8,822
Interest expense	8,413		9,689
Depreciation and amortization	15,334		18,051
Income tax expense	6,497		9,986
EBITDA	$	47,143	$	46,548

(1) The Company believes adjusted EBITDA is useful to investors because it is an appropriate measure of evaluating operating performance and liquidity. It reflects the resources available for strategic opportunities including, among others, investing in the business, strengthening the balance sheet, repurchasing securities, and making strategic acquisitions. In addition, adjusted EBITDA is a widely used benchmark in the investment community.






Forum Energy Technologies, Inc.
Reconciliation of GAAP to non-GAAP financial information
(Unaudited)
Table 5 - Adjusting items

	Three months ended
(in thousands of dollars)	June 30, 2026		June 30, 2025		March 31, 2026
Free cash flow, before acquisitions, reconciliation (1)
Net cash provided by operating activities	$	12,429	$	15,773	$	1,627
Capital expenditures for property and equipment	(2,933)		(951)		(256)
Proceeds from sale of property and equipment	156		43		3
Proceeds from sale-leaseback transactions	—		8,028		—
Free cash flow, before acquisitions	$	9,652	$	22,893	$	1,374

(1) The Company believes free cash flow, before acquisitions is an important measure because it encompasses both profitability and capital management in evaluating results.






Forum Energy Technologies, Inc.
Reconciliation of GAAP to non-GAAP financial information
(Unaudited)
Table 6 - Adjusting items

	Six months ended
(in thousands of dollars)	June 30, 2026		June 30, 2025
Free cash flow, before acquisitions, reconciliation (1)
Net cash provided by operating activities	$	14,056	$	25,099
Capital expenditures for property and equipment	(3,189)		(3,061)
Proceeds from sale of property and equipment	159		57
Proceeds from sale-leaseback transactions	—		8,028
Free cash flow, before acquisitions	$	11,026	$	30,123

(1) The Company believes free cash flow, before acquisitions is an important measure because it encompasses both profitability and capital management in evaluating results.






Forum Energy Technologies, Inc.
Table 7 - Net Leverage Ratio (1)
(Unaudited)

(in thousands of dollars)	June 30, 2026		March 31, 2026		December 31, 2025
2029 Bonds	$	100,000	$	100,000	$	100,000
Credit Facility	45,030		55,053		37,282
Other debt	3,475		3,751		4,008
Long-term debt, principal amount	148,505		158,804		141,290
Less: Cash and cash equivalents	33,716		37,488		34,661
Net debt	114,789		121,316		106,629

Trailing Twelve Months Adjusted EBITDA	100,440		89,230		86,403
Net leverage ratio	1.1		1.4		1.2

(1) The Company believes net leverage ratio is an important measure because it represents the Company's ability to meet its financial obligations.






Forum Energy Technologies, Inc.
Table 8 - Revenue Per Rig
(Unaudited)

	Three months ended						Six months ended
(in thousands of dollars)	June 30, 2026		June 30, 2025		March 31, 2026		June 30, 2026		June 30, 2025
Revenue	$	226,217	$	199,764	$	208,700	$	434,917	$	393,043
Average global rig count (1)	1,759		1,777		1,832		1,796		1,839
Revenue per rig	$	129	$	112	$	114	$	242	$	214

(1) The table above shows the average number of active drilling rigs operating based on the weekly rig count information published by Baker Hughes Company. In the third quarter of 2025, Baker Hughes implemented a revised methodology for counting rigs, primarily affecting data pertaining to Saudi Arabia. Baker Hughes only adjusted data back January 2024.


Forum Energy Technologies, Inc.
Supplemental schedule - Product line revenue
(Unaudited)

	Three months ended
(in thousands of dollars)	June 30, 2026				June 30, 2025				March 31, 2026
Revenue	$		%		$		%		$		%
Drilling	$	35,535	15.7	%	$	32,846	16.5	%	$	32,730	15.7	%
Subsea	33,516		14.8	%	22,389		11.2	%	35,495		17.0	%
Stimulation and Intervention	38,181		16.9	%	32,856		16.4	%	33,047		15.8	%
Coiled Tubing	31,772		14.0	%	29,146		14.6	%	25,467		12.2	%
Drilling and Completions	139,004		61.4	%	117,237		58.7	%	126,739		60.7	%

Downhole	61,040		27.0	%	51,284		25.7	%	50,559		24.2	%
Production Equipment	13,444		5.9	%	20,662		10.3	%	18,750		9.0	%
Valve Solutions	12,938		5.7	%	10,601		5.3	%	12,789		6.1	%
Artificial Lift and Downhole	87,422		38.6	%	82,547		41.3	%	82,098		39.3	%
Eliminations	(209)		—	%	(20)		—	%	(137)		—	%

Total revenue	$	226,217	100.0	%	$	199,764	100.0	%	$	208,700	100.0	%