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DISTRIBUTION NOW NOW Inc. Reports First Quarter 2021 Results May 5 , 2021 HOUSTON -- ( BUSINESS WIRE ) -- May 5 , 2021-- NOW Inc. ( NYSE : DNOW ) announced results for the first quarter ended March 31 , 2021 . First Quarter 2021 Financial Highlights ■ Revenue was $ 361 million for the first quarter of 2021 ■ Net loss was $ 10 million and non - GAAP net loss excluding other costs was $ 5 million for the first quarter of 2021 ■ Diluted loss per share was $ 0.09 and non - GAAP diluted loss per share excluding other costs was $ 0.04 for the first quarter of 2021 ■ Non - GAAP EBITDA excluding other costs for the first quarter of 2021 was $ 1 million ■ Cash and cash equivalents was $ 374 million and long - term debt was zero at March 31 , 2021 David Cherechinsky , President and CEO of NOW Inc. , added , " We are very pleased with the positive results we achieved this quarter , driven by strong 13 % sequential revenue growth . We closed our second acquisition this year in April and remain debt free . Without the heavy cost of debt burden , we have plenty of strategic and balance sheet flexibility with ample liquidity to fund organic growth and to pursue additional acquisition opportunities . Last year , we committed to achieve break - even EBITDA in the first half of 2021 and achieved our goal a quarter early . I am proud of every one of our employees as their contributions drove such strong results . We will continue to innovate , focus on both legacy and emerging end - markets , invest in our Digital NOW® technologies and advance a customer order fulfillment migration to improve our competitiveness as we build a compelling suite of solutions we believe will be unmatched in our industry . " Prior to the earnings conference call a presentation titled " NOW Inc. First Quarter 2021 Key Takeaways " will be available on the Company's Investor Relations website . About NOW Inc. NOW Inc. is one of the largest distributors to energy and industrial markets on a worldwide basis , with a legacy of over 150 years . NOW Inc. operates primarily under the DistributionNOW and DNOW brands . Through its network of approximately 195 locations and 2,450 employees worldwide , NOW Inc. offers a comprehensive line of products and solutions for the upstream , midstream and downstream energy and industrial sectors . Our locations provide products and solutions to exploration and production companies , energy transportation companies , refineries , chemical companies , utilities , manufacturers and engineering and construction companies . Statements made in this press release that are forward - looking in nature are intended to be " forward - looking statements " within the meaning of Section 21E of the Securities Exchange Act of 1934 and may involve risks and uncertainties . These statements may differ materially from actual future events or results . Readers are referred to documents filed by NOW Inc. with the U.S. Securities and Exchange Commission , which identify significant risk factors which could cause actual results to differ from those contained in the forward - looking statements . Current assets : Cash and cash equivalents Receivables , net Inventories , net Prepaid and other current assets Total current assets Property , plant and equipment , net Deferred income taxes Goodwill Other assets Total assets NOW INC . CONSOLIDATED BALANCE SHEETS ( UNAUDITED ) ( In millions , except share data ) ASSETS LIABILITIES AND STOCKHOLDERS ' EQUITY $ March 31 , 2021 374 245 247 16 882 89 1 7 47 $ 1,026 December 31 , 2020 $ $ 387 198 262 14 861 98 1 48 1,008