Flotek Industries, Inc. announced its operational and financial results for the fourth quarter and full-year ended December 31, 2024, reporting its strongest quarterly performance of 2024 across revenue, gross profit, net income, and adjusted EBITDA.
For the fourth quarter of 2024, total revenues increased by 20% year-over-year to $50.8 million, up from $42.2 million in Q4 2023. Net income more than doubled to $4.4 million, compared to $2.1 million in the prior-year quarter, with diluted earnings per share reaching $0.14. Adjusted EBITDA for the quarter grew by 78% to $7.0 million from $4.0 million in Q4 2023.
For the full-year 2024, Adjusted EBITDA reached $20.3 million, significantly surpassing the increased guidance range of $16.5 million to $18.5 million. The Data Analytics segment's service revenue saw a 67% sequential increase in the fourth quarter, and the company expanded its technology portfolio with the introduction of three new Data Analytics solutions: VeraCal, JP3 Raman, and XSPCT.
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