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FTK Price Correlated With Financials For Flotek Industries

Free historical financial statements for Flotek Industries Inc. See how revenue, income, cash flow, and balance sheet financials have changed over 43 quarters since 2012. Compare with FTK stock chart to see long term trends.

FTK Stock Compared to Quarterly

FTK Income Statement

Revenue, Net:45623000
Revenue Per Share:0.5886
Cost of Goods & Services Sold:47465000
Gross Profit:-1842000
Selling, General & Admin Expense:9035000
Research & Development Expense:985000
Total Operating Expenses:14437000
Operating Income:-18787000
Income Taxes:7000
Net Income:-18794000
Earnings Per Share, Basic:-0.25
Shares Outstanding, Basic Avg:77507267

FTK Cash Flow

Operating Activities Net Income:
Depreciation, Depletion & Amortization:177000
Change in Accounts Receiveable:-4393000
Net Cash from Operations:-23251000
Net Cash from Operations Per Share:-0.3
Net Cash from Financing Activities:-1232000
Property, Plant & Equipment Purchases:170000
Net Cash from Investing Activities:-149000
Net Change in Cash & Equivalents:-24516000

FTK Balance Sheet

Cash and Cash Equivalents:8608000
Accounts Receivable, Net:17597000
Total Current Assets:83350000
Property, Plant & Equipment, Net:4781000
Total Assets:164019000
Accounts Payable:29653000
Current Portion of Long-Term Debt:null
Total Short-Term Liabilities:133901000
Long Term Debt, Non-Current Portion:2935000
Total Liabilities:143521000

Insider Trading

SEC Form 4
GIBSON JOHN W JR   CEO and President
4,000 sh at $1
GIBSON JOHN W JR   CEO and President
4,000 sh at $1
GIBSON JOHN W JR   CEO and President
4,000 sh at $1

Major Holders (from 13F filings)

Investment Type
Value (x$1000)
increase or decrease
Nierenberg Investment Management Company, Inc.
7,789,773 sh
Vanguard Group Inc
2,671,215 sh
-110,355 sh
Masters Capital Management LLC
2,000,000 sh
Dimensional Fund Advisors LP
1,781,687 sh
-168,086 sh
Blackrock Inc.
1,021,856 sh
-6,149 sh
Manatuck Hill Partners, LLC
839,000 sh
Disciplined Growth Investors Inc /Mn
758,932 sh
-4,363 sh
Geode Capital Management, LLC
568,850 sh
Delta Investment Management, LLC
311,468 sh
Bridgeway Capital Management Inc
299,700 sh
State Street Corp
230,475 sh
Truist Financial Corp
208,788 sh
88,679 sh
Susquehanna International Group, Llp
188,498 sh
155,698 sh
Tiedemann Advisors, LLC
160,000 sh
10,000 sh
Northern Trust Corp
130,728 sh
-2,712 sh
Wells Fargo & Company/Mn
110,989 sh
-44,751 sh
Robotti Robert
100,000 sh
100,000 sh
Bank Of New York Mellon Corp
78,511 sh
Group One Trading, L.P.
65,925 sh
17,100 sh
Morgan Stanley
55,604 sh
-6,982 sh
Organization and Nature of Operations General

Flotek Industries, Inc. (“Flotek” or the “Company”) creates solutions to reduce the environmental impact of energy on air, water, land and people. A technology-driven, specialty green chemistry and data company, Flotek helps customers across industrial, commercial, and consumer markets improve their environmental performance.

The Company’s Chemistry Technologies (“CT”) segment develops, manufactures, packages, distributes, delivers, and markets green specialty chemicals that enhance the profitability of hydrocarbon producers and cleans surfaces in both commercial and personal settings to help reduce the spread of bacteria, viruses and germs.

The Company’s Data Analytics (“DA”) segment enables users to maximize the value of their hydrocarbon associated processes by providing analytics associated with their hydrocarbon streams in seconds rather than minutes or days. The real-time access to information prevents waste, reduces reprocessing and allows users to pursue automation of their hydrocarbon streams to maximize their profitability, while reducing their carbon footprint, energy consumption and emissions.

The Company formed the DA segment during the second quarter of 2020, after acquiring JP3 Measurement, LLC (“JP3”). The Company’s two operating segments, CT and DA, are both supported by its Research & Innovation advanced laboratory capabilities. For further discussion of our operations and segments, see Note 21, “Business Segment, Geographic and Major Customer Information.” For further discussion of the JP3 acquisition, see Note 3, “Business Acquisition.”

The Company was initially incorporated under the laws of the Province of British Columbia in 1985. In October 2001, the Company changed its corporate domicile to the State of Delaware.

Sources and Uses of Liquidity

The Company currently funds its operations and growth primarily from cash on hand. The ability of the Company to grow and be competitive in the marketplace is dependent on the availability of adequate capital. Access to capital is dependent on the Company’s operating cash flows, the monetization of non-core assets, and the availability of and access to debt and equity financing. The Company has a history of losses and negative cash flows from operations and expects to utilize a significant amount of cash in the following year. While we believe that our cash and liquid assets, including the actions taken subsequent to year end discussed below and in Note 22, “Subsequent Events”, will provide us with sufficient financial resources to fund operations and meet our capital requirements and anticipated obligations as they become due, uncertainty surrounding the long term stability and strength of the oil and gas markets or reduced spending by our customers could have a further negative impact on our liquidity.

On February 2, 2022, the Company completed a Private Investment in Public Equity (PIPE) transaction with a consortium of investors, including related parties, through the issuance of $21.2 million aggregate of convertible notes that resulted in net cash proceeds of approximately $19.5 million. Also, on February 2, 2022, the Company entered into a long-term supply agreement with ProFrac Services, LLC (the “ProFrac Agreement”) upon issuance of $10 million of convertible notes. Under the ProFrac Agreement, ProFrac Services, LLC is obligated to order chemicals from the Company at least equal to the greater of (a) the chemicals required for 33% of their hydraulic fracturing fleets and (b) a baseline measured by the first ten hydraulic fracturing fleets deployed by ProFrac Services, LLC. Profrac shall pay to the company, as liquidated damages an amount equal to twenty-five percent (25%) of the difference between (i) the aggregate Purchase Price of the quantity of Products comprising the Minimum Purchase Obligation during such calendar year. The term of the ProFrac Agreement is three years starting on April 1, 20

Data imported from Flotek Industries Inc SEC filings. Check original filings before making any investment decision.