FTKMEDIUM SIGNALFINANCIAL10-K

Flotek delivered substantially higher operating income and gross profit while pivoting its business focus toward energy sector partnerships, as evidenced by new ProFrac and Lease Agreement references.

The company appears to be executing a strategic shift toward the energy sector with new partnership agreements that may be driving improved profitability. However, the substantial increase in total liabilities warrants monitoring as it could indicate new debt obligations or contractual commitments related to these partnerships.

Comparing 2026-03-16 vs 2025-03-12View on EDGAR →
FINANCIAL ANALYSIS

Flotek showed robust operational improvement with operating income growing substantially and gross profit expanding meaningfully, while interest expense declined significantly suggesting improved debt management. Total liabilities increased notably to $107M from $57M, which likely reflects new contractual obligations or debt related to the company's strategic partnerships. The growth in accounts receivable and maintained cash position suggests expanding business activity, while lower inventory levels may indicate improved working capital efficiency.

FINANCIAL STATEMENT CHANGES
Operating Income
P&L
+90.6%
$12.2M→$23.2M

Operating leverage kicking in — revenue growth outpacing cost growth, a hallmark of scaling businesses.

Total Liabilities
Balance Sheet
+88%
$56.9M→$107.0M

Liabilities grew 88% — significant increase in debt or obligations, assess impact on financial flexibility.

Interest Expense
P&L
-59.5%
$7.1M→$2.9M

Interest expense declined — debt repayment or refinancing at lower rates improving earnings quality.

Gross Profit
P&L
+51.9%
$39.4M→$59.8M

Gross profit expanding — improving pricing power or product mix shift toward higher-margin offerings.

Accounts Receivable
Balance Sheet
+43.9%
$13.3M→$19.1M

Receivables surged 43.9% — revenue recognized but not yet collected; watch for collection issues or channel stuffing.

Cash & Equivalents
Balance Sheet
+30.1%
$4.4M→$5.7M

Cash position surged 30.1% — strong cash generation or capital raise providing significant financial cushion.

Total Assets
Balance Sheet
+28.8%
$170.8M→$220.0M

Asset base grew 28.8% — expansion through organic growth, acquisitions, or capital deployment.

Current Liabilities
Balance Sheet
+22.3%
$50.4M→$61.6M

Current liabilities rose 22.3% — increased short-term obligations, watch current ratio.

Inventory
Balance Sheet
-20.1%
$13.3M→$10.6M

Inventory reduced 20.1% — lean inventory management or demand outpacing supply.

Current Assets
Balance Sheet
+14.8%
$96.5M→$110.8M

Current assets grew 14.8% — improving short-term liquidity or inventory/receivables build.

LANGUAGE CHANGES
NEW — 2026-03-16
PRIOR — 2025-03-12
ADDED
At March 13, 2026, there were 36,172,491 outstanding shares of the registrant s common stock, $0.0001 par value.
Such statements include estimates, projections, and statements related to the Company s business plan or performance under the ProFrac Agreement (defined below) or Lease Agreement (defined below), objectives, expected operating results, and assumptions upon which those statements are based.
Forward-looking statements may also include statements regarding the anticipated performance under the ProFrac Agreement (defined below) or Lease Agreement (defined below) or amendments thereto and the potential value thereof or potential revenue or liquidated damages thereafter.
Business General Flotek strives to be the collaborative partner of choice for solutions that reduce the environmental impact of energy on air, water, land and people.
An advanced technology-driven, chemical and data analytics company, Flotek seeks to provide unique and innovative solutions to its customers in both the domestic and international energy markets.
The Company is committed to delivering products and services that endeavor to maximize customer returns by leveraging chemistry as the common value creation platform.
The Company s Chemistry Technologies ( CT ) segment designs, develops, manufactures, packages, distributes and markets optimized chemistry solutions that we believe help customers improve their return on invested capital, lower operational costs and realize tangible environmental benefits aimed at enhancing the profitability of hydrocarbon producers.
The Company s Data Analytics ( DA ) segment provides analytical measurement and digital solutions, including measure-and-control services, that deliver near real-time insights for process control across the oil and gas value chain and emerging applications in power and digital valuation.
DA solutions help customers optimize performance, improve decision-making, and reduce emissions and carbon intensity.
Recent Developments The Company entered into a series of transactions in connection with an Asset Purchase Agreement, dated as of April 28, 2025 (the Purchase Agreement ), with ProFrac GDM, LLC ( ProFrac GDM ), an indirect subsidiary of ProFrac Holding Corp.
REMOVED
At March 10, 2025, there were 29,827,989 outstanding shares of the registrant s common stock, $0.0001 par value.
Such statements include estimates, projections, and statements related to the Company s business plan, objectives, expected operating results, and assumptions upon which those statements are based.
Forward-looking statements may also include statements regarding the anticipated performance under long-term supply agreements or amendments thereto and the potential value thereof or potential revenue or liquidated damages thereafter.
Business General Flotek creates unique solutions to reduce the environmental impact of energy on air, water, land and people.
A technology-driven, specialty chemistry and data company, Flotek helps customers across industrial and commercial markets improve their environmental performance.
The Company seeks to provide sustainable and optimized chemistry and data technology solutions for both domestic and international energy markets.
The Company s Chemistry Technologies ( CT ) segment designs, develops, manufactures, packages and distributes specialty chemicals that help customers improve their return on invested capital, lower operational costs and realize tangible environmental benefits aimed at enhancing the profitability of hydrocarbon producers.
The Company s Data Analytics ( DA ) segment provides innovative analytical measurement solutions.
The DA segment seeks to deliver real-time information and insights to our customers to enable optimization of operations and reduction of emissions and their carbon intensity.
Recent Developments In August 2023, the Company entered into a 24-month revolving loan and security agreement in connection with an asset-based loan (the ABL ).
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