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Dec 31, 2025
Frank's International Q4 2025 Earnings Report
Expro Group Holdings N.V. reported its fourth quarter and full-year 2025 financial and operational results.
Key Takeaways
Expro Group Holdings N.V. closed out 2025 with a solid financial performance, generating $382 million in revenue and $6 million in net income for the fourth quarter. The company significantly surpassed its free cash flow expectations for the full year, more than doubling the amount generated in the prior year, and continued to expand its Adjusted EBITDA margin for the fourth consecutive year.
Fourth quarter 2025 revenue was $382 million, with a net income of $6 million and a net income margin of 2%.
Adjusted EBITDA for Q4 2025 was $88 million, representing a 23.1% margin, ranking among the top in its peer group.
Full year 2025 Adjusted free cash flow was $127 million, significantly outperforming expectations and more than doubling the prior year's amount.
The company repurchased $40 million of shares during 2025 and voluntarily prepaid $42 million of its revolving credit facility, strengthening its balance sheet.
Revenue by Segment
Revenue by Geographic Location
Forward Guidance
Expro is cautiously optimistic about 2026, expecting financial results to be similar to and in some respects better than 2025, driven by growing industry optimism for the back half of 2026 into 2027. The company anticipates further expansion of its EBITDA margin and free cash flow generation, with a commitment to returning capital to shareholders.
Positive Outlook
- Strong order backlog of $2.5 billion provides good revenue visibility for 2026.
- Expected 2026 Adjusted EBITDA of $355 million to $375 million.
- Anticipated 2026 Adjusted free cash flow of $125 million to $145 million.
- Expectation of further progress towards longer-term strategic goals, including EBITDA margin expansion and free cash flow generation.
- Intention to utilize at least 33% of free cash flow generated for capital returns to shareholders in 2026.
Challenges Ahead
- Anticipated normal seasonal decline in Q1 2026 due to inclement weather, particularly in the North Sea.
- Expected lower customer budgetary spends at the start of the new calendar year in Q1 2026.
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
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Avg. Return Before/After Earnings
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