Earnings release
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Q FLOTEK Exhibit 99.1 Flotek Increases 2026 Guidance as Data Analytics Delivers Record Quarterly Revenue HOUSTON , August 4 , 2026 - Flotek Industries , Inc. ( " Flotek " or the " Company " ) ( NYSE : FTK ) today announced operational and financial results for the quarter ended June 30 , 2026. As a result of strong year - to - date results combined with the Company's outlook on the remainder of the year , Flotek increased its previously issued 2026 guidance . A summary of key financial metrics is as follows ( in thousands , except ‘ per share ' amounts ) : Three Months Ended June 30 , 2026 2025 % Change 2026 Six Months Ended June 30 , 2025 % Change Total Revenues $ 99,367 $ 58,350 70 % $ 169,418 $ 113,712 49 % Gross Profit $ 23,783 $ 14,407 65 % $ 39,324 $ 26,856 46 % Net Income $ 9,953 $ 1,768 463 % $ 14,617 $ 7,148 104 % Diluted Income Per Share $ 0.26 $ 0.05 420 % $ 0.38 $ 0.21 81 % Adjusted EBITDA ( 1 ) $ 16,788 $ 8,018 109 % $ 25,881 $ 14,316 81 % Second Quarter 2026 Highlights • • • • • • Total revenue grew 70 % as compared to the second quarter of 2025 . Data Analytics achieved record quarterly revenue of $ 19.2 million , with external customers representing 63 % of segment revenue . Chemistry Technologies quarterly revenue totaled $ 80.2 million , the highest since 2017 . Data Analytics comprised 51 % of total gross profit versus 26 % in the prior - year quarter . Net income and diluted net income per share increased 463 % and 420 % , respectively , as compared to the year - ago quarter . Adjusted EBITDA ( 1 ) totaled $ 16.8 million , a 109 % increase from second quarter 2025 . Announced a 10 - year , $ 400 million power services contract to support 400 MW Puerto Rico gas power project . 2026 Guidance Update Based on results through the first half of 2026 and the Company's current expectations , Flotek is increasing its guidance metrics for 2026 as follows ( in millions ) : Metric Total Revenues Adjusted EBITDA ( 2 ) Previous $ 270- $ 290 $ 36- $ 41 Current $ 340- $ 350 $ 47- $ 51 The Company's updated 2026 guidance above does not include any potential impact from the Puerto Rico Power Services ( PREPA ) contract announced on August 3 , 2026. The Company is working closely with the customer and other service providers to finalize the initial deployment schedule . 5775 NORTH SAM HOUSTON PARKWAY WEST , STE . 400 HOUSTON , TEXAS 77086 1
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Management Commentary Chief Executive Officer Dr. Ryan Ezell commented, “We delivered outstanding second-quarter results with each segment generating strong year-over-year growth. Data Analytics generated second-quarter2026 gross profit of $12 million, representing 51% of total Company gross profit. For the first time, Data Analytics surpassed Chemistry as the largest contributor to overall gross profit, underscoring the continued momentum and scalability of the segment. Including our related-party revenues, domestic chemistry revenue increased 43% and international chemistry grew 172% compared with the second quarter of 2025 marking the segment’s highest quarterly revenue in nearly 10 years. Our second-quarter performance exemplifies the execution of our corporate strategy and strengthens the momentum of Flotek’s industrialized pivot to a data-driven technology leader. Our recently announced contract award to support power initiatives in Puerto Rico validates our ongoing efforts to expand our portfolio of technologies beyond oil and gas, as we believe our real-time measurement solutions can play an important role in meeting the rapidly growing demand for behind the meter power generation and other differentiated industrial and infrastructure verticals. We believe these pursuits will significantly expand our addressable market and accelerate our pivot toward a more diversified and balancedplatform.” Second Quarter 2026 Financial Results • Revenue: Flotek reported total revenues of $99.4 million for the second quarter of 2026, an increase of 70% compared to total revenues of $58.4 million for the second quarter of 2025. Revenue during the quarter included a 53% increase in Chemistry revenue and a 223% increase in Data Analytics revenue as compared to the 2025 quarter. International Chemistry revenue totaled $10.6 million during the second quarter, as compared to $3.9 million in the year-ago period reflecting the Company’s ongoing work in the Middle East. Data Analytics revenue during the quarter included $5.9 million related to the Company’s utility infrastructure support agreement announced in March 2026. Revenue related to the minimum purchase requirements (the “Minimum Purchase Requirements”) under the Company’s long-term supply agreement with ProFrac Services, LLC, totaled $1.2 million and $7.8 million, during the second quarters of 2026 and 2025, respectively. The reductionin the Minimum Purchase Requirement during the current quarter was due to increased related party Chemistry revenue versus the year-ago quarter. 2
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Segment Revenue Summary (in thousands) Three Months Ended June 30, Six Months Ended June 30, 2026 2025 % Change 2026 2025 % Change Chemistry Technologies: External Revenues $ 31,114 $ 22,543 38% $ 45,856 $ 44,552 3% Related Party Revenues 49,071 29,877 64% 94,012 60,606 55% Total $ 80,185 $ 52,420 53% $ 139,868 $ 105,158 33% Data Analytics: Product Revenues $ 5,177 $ 1,820 184% $ 7,030 $ 3,482 102% Service Revenues 14,005 4,110 241% 22,520 5,072 344% Total $ 19,182 $ 5,930 223% $ 29,550 $ 8,554 245% • Gross Profit: The Company generated gross profit of $23.8 million during the second quarter of 2026, or 24% of revenue, compared to $14.4 million during the second quarter of 2025, or 25% ofrevenue. • Selling, General and Administrative (“SG&A”) Expense: SG&A expense totaled $7.7 million for the second quarter of 2026, or 8% of revenue, compared to $6.8 million during the second quarter of 2025, or 12% of revenue. The increase in current quarter SG&A expense was primarily the result of higher non-cash stock compensation costs. • Net Income and EPS: Flotek reported net income of $10.0 million, or $0.26 per diluted share, for the second quarter of 2026. This compares to net income of $1.8 million, or $0.05 per diluted share, for the second quarter of 2025. Second quarter 2025 net income and per share amounts were negatively impacted by $4.2 million of transaction costs associated with the PWRtek asset acquisition. • Adjusted EBITDA (Non-GAAP): Adjusted EBITDA totaled $16.8 million in the second quarter of 2026 as compared to $8 million in the second quarter of 2025. Adjusted EBITDA calculations for the second quarter of 2026 and 2025 do not add back non-cash amortization of contract assetstotaling $2.4 million and $1.4 million, respectively. (1) A non-GAAP financial measure. See the “Unaudited Reconciliation of Non-GAAP Items and Non-Cash Items Impacting Earnings” section in this release for more information about this measure, including reconciliations to the most comparable GAAP measures. Calculations do not add back non-cash amortization ofcontract assets totaling $2.4 million and $1.4 million during the second quarters of 2026 and 2025, respectively and $4.7 million and $2.9 million during the six months ended June 30, 2026 and 2025, respectively. (2) A non-GAAP financial measure. See the “Unaudited Reconciliation of Non-GAAP Items and Non-Cash Items Impacting Earnings” section in this release formore information about this measure. We are unable to reconcile this forward-looking non-GAAP financial measure to the most directly comparable GAAP financial measure without unreasonable efforts, as we are unable to predict with a reasonable degree of certainty the impact of certain items that would beexpected to impact the GAAP financial measure, including, among other items, certain stock-based compensation costs and interest costs related to fluctuations in borrowings under the Company’s asset based loan. These items do not impact the non-GAAP financial measure. Guidance does not add back non-cashamortization of contract assets estimated to total approximately $9 million during full-year 2026.Guidance does not add back non-cash amortization of contractassets estimated to total approximately $9 million during full-year 2026. Conference Call Details The Company plans to host its earnings conference call on Wednesday, August 5, 2026, at 9:00 a.m. CDT (10:00 a.m. EDT). Participants may access the call through Flotek’s website at https://ir.flotekind.com/events, by telephone toll free at 1-800-836-8184 (international toll: 1-646-357-8785), or by using the following link to accessthe webcast: https://app.webinar.net/dYJWBo8V8lL approximately five TM (1) 3
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minutes prior to the start of the call. Following the conclusion of the conference call, a recording of the call will be available on the Company’s website. About Flotek Industries, Inc. Flotek Industries, Inc. is a leading chemistry and data technology company focused on servicing the Energy industry. The Company’s top tier technologies leverage near real-time data to deliver innovative solutions to maximize customer returns. Flotek has an intellectual property portfolio of over 130 patents, 20+ years of field and laboratory data, and a global presence in more than 59 countries. Flotek has established collaborative partnerships focused on sustainable and optimized chemistry and data solutions, aiming to reduce the environmental impact of energy on land, air, water and people. Flotek is based in Houston, Texas and its common shares are traded on the New York Stock Exchange under the ticker symbol “FTK.” For additional information, please visit www.flotekind.com. Forward-Looking Statements Certain statements set forth in this press release constitute forward-looking statements (within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934) regarding Flotek Industries, Inc.’s business, financial condition, results of operations andprospects. Words such as will, continue, expects, anticipates, intends, plans, believes, seeks, estimates and similar expressions or variations of such words are intended to identify forward-looking statements, but are not the exclusive means of identifying forward-looking statements in this press release. Although forward-looking statements in this press release reflect the good faith judgment of management, such statements can only be based on facts and factors currently known to management. Consequently, forward-looking statements are inherently subject to risks and uncertainties, and actual results and outcomes may differ materially from the results and outcomes discussed in the forward-looking statements. These statements include, without limitation, statements regarding expected revenues under the Company’s long-term contracts, the total term of such contracts, the timing of the scaling and deployment of equipment, the total power capacity and operating performance of equipment once deployed, and the Company’s ability to perform under and satisfy the terms and conditions of its contracts. Factors that could cause actual results to differ materially from anticipated results include risks related to the Company’s projects that are outside the Company's control, including, without limitation,securing fuel supply, international logistics, obtaining permits and governmental approvals, satisfying financial requirements, third-party equipment delivery, construction execution and scheduling, meeting execution deadlines, integrating systems, political and regulatory developments, geopolitical instability or armed conflicts, and severe weather events. Further information about the risks and uncertainties that may impact the Company are set forth in the Company’s most recent filing with the Securities and Exchange Commission on Form 10-K and Form 10-Q (including, without limitation, in the "Risk Factors" section thereof), and in the Company’s other SEC filings and publicly available documents. Readers are urged not to place undue reliance on these forward-looking statements, which speak only as of the date of this press release. The Company undertakes no obligation to revise or update any forward-looking statements in order to reflect any event or circumstance that may arise after the date of this press release. 4
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Investor contact: Mike Critelli E: ir@flotekind.com 5
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FLOTEK INDUSTRIES, INC. UNAUDITED CONDENSED CONSOLIDATED BALANCE SHEETS (in thousands, except share data) June 30, 2026 December 31, 2025 ASSETS Current assets: Cash and cash equivalents $ 4,402 $ 5,731 Restricted cash 104 104 Accounts receivable, net of allowance for credit losses of $961 and $764 at June 30,2026 and December 31, 2025, respectively 43,415 19,043 Accounts receivable, related party, net of allowance for credit losses of $0 at June 30,2026 and December 31, 2025 70,711 64,204 Equipment credit, related party 9,521 — Inventories, net 26,626 10,629 Other current assets 3,273 3,445 Current contract asset 9,485 7,621 Total current assets 167,537 110,777 Long-term contract asset 48,593 55,115 Property and equipment, net 23,245 20,344 Right-of-use assets 2,705 3,083 Deferred tax assets, net 24,410 29,152 Other long-term assets 1,546 1,578 TOTAL ASSETS $ 268,036 $ 220,049 LIABILITIES AND STOCKHOLDERS’ EQUITY Current liabilities: Accounts payable $ 74,550 $ 48,317 Accrued liabilities 6,121 7,256 Income taxes payable 593 258 Interest payable, related party 997 1,008 Current portion of operating lease liabilities 1,324 1,251 Current portion of finance lease liabilities 160 153 Asset-based loan 10,400 3,332 Total current liabilities 94,145 61,575 Deferred revenue, long-term 55 — Note payable - related party 39,632 39,584 Long-term operating lease liabilities 4,849 5,608 Long-term finance lease liabilities 142 224 TOTAL LIABILITIES 138,823 106,991 Commitments and contingencies Stockholders’ equity: Preferred stock, $0.0001 par value, 100,000 shares authorized; no shares issued andoutstanding — — Common stock, $0.0001 par value, 240,000,000 shares authorized; 37,440,565shares issued and 36,217,709 shares outstanding at June 30, 2026; 31,320,960shares issued and 30,130,480 shares outstanding at December 31, 2025 4 3 Additional paid-in capital 437,088 434,964 Accumulated other comprehensive income 153 96 Accumulated deficit (271,163) (285,780) Treasury stock, at cost; 1,222,856 and 1,190,480 shares at June 30, 2026 andDecember 31, 2025, respectively (36,869) (36,225) Total stockholders’ equity 129,213 113,058 TOTAL LIABILITIES AND STOCKHOLDERS’ EQUITY $ 268,036 $ 220,049 6
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FLOTEK INDUSTRIES, INC. UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (in thousands, except per share data) Three Months Ended June 30, Six Months Ended June 30, 2026 2025 2026 2025 Revenue: Revenue from external customers $ 43,225 $ 25,182 $ 61,390 $ 49,605 Revenue from related party 56,142 33,168 108,028 64,107 Total revenues 99,367 58,350 169,418 113,712 Cost of goods sold 75,584 43,943 130,094 86,856 Gross profit 23,783 14,407 39,324 26,856 Operating costs and expenses: Selling, general, and administrative 7,736 6,796 14,661 13,078 Asset acquisition expenses — 4,195 — 4,195 Depreciation 664 374 1,295 626 Research and development 497 455 893 810 Gain on sale of property and equipment — — — (7) Total operating costs and expenses 8,897 11,820 16,849 18,702 Income from operations 14,886 2,587 22,475 8,154 Other income (expense): Interest expense (1,371) (983) (2,703) (1,212) Other income, net 19 181 35 287 Total other expense (1,352) (802) (2,668) (925) Income before income taxes 13,534 1,785 19,807 7,229 Income tax expense (3,581) (17) (5,190) (81) Net income $ 9,953 $ 1,768 $ 14,617 $ 7,148 Income per common share: Basic $ 0.28 $ 0.05 $ 0.40 $ 0.22 Diluted $ 0.26 $ 0.05 $ 0.38 $ 0.21 Weighted average common shares: Weighted average common shares used incomputing basic income per common share 36,151 33,947 36,126 31,827 Weighted average common shares used incomputing diluted income per common share38,472 36,231 38,409 34,026 7
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FLOTEK INDUSTRIES, INC. UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (in thousands) Six Months Ended June 30, 2026 2025 Cash flows from operating activities: Net income $ 14,617 $ 7,148 Adjustments to reconcile net income to net cash provided by (used in) operating activities: Change in fair value of contingent consideration — (127) Amortization of contract assets 4,658 2,916 Depreciation 1,295 626 Amortization of deferred financing costs 189 157 Provision for credit losses, net of recoveries 197 261 Provision for excess and obsolete inventory 1,089 250 Gain on sale of property and equipment — (7) Non-cash lease expense 378 624 Stock compensation expense 2,033 1,137 Deferred income tax expense 4,742 16 Changes in current assets and liabilities: Accounts receivable (24,570) (5,096) Accounts receivable, related party (19,486) (2,532) Inventories (16,585) 1,448 Income tax receivable 20 (32) Other assets 52 (155) Accounts payable 26,233 (1,722) Accrued liabilities (1,080) (1,893) Operating lease liabilities (686) (935) Income taxes payable 335 37 Interest payable, related party (11) 701 Net cash (used in) provided by operating activities (6,580) 2,822 Cash flows from investing activities: Capital expenditures (1,239) (1,309) Proceeds from sale of assets — 7 Net cash used in investing activities (1,239) (1,302) Cash flows from financing activities: Payments on long term debt — (60) Proceeds from asset-based loan 122,150 106,950 Payments on asset-based loan (115,082) (106,685) Payment of loan origination costs (8) — Payment of note payable issuance costs — (480) Payment of stock warrant issuance costs — (456) Proceeds from exercise of April 2025 Warrant 1 — Payments to tax authorities for shares withheld from employees (644) (60) Proceeds from issuance of stock under Employee Stock Purchase Plan 83 68 Proceeds from issuance of stock from stock option exercises 8 8 Payments for finance leases (75) (25) Net cash provided by (used in) financing activities 6,433 (740) Effect of changes in exchange rates on cash and cash equivalents 57 (155) Net change in cash and cash equivalents and restricted cash (1,329) 625 Cash and cash equivalents at the beginning of period 5,731 4,404 Restricted cash at the beginning of period 104 102 Cash and cash equivalents and restricted cash at beginning of period 5,835 4,506 Cash and cash equivalents at end of period 4,402 5,028 Restricted cash at the end of period 104 103 Cash and cash equivalents and restricted cash at end of period $ 4,506 $ 5,131 8
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FLOTEK INDUSTRIES, INC. UNAUDITED RECONCILIATION OF NON-GAAP ITEMS AND NON-CASH ITEMS IMPACTING EARNINGS (in thousands) Three Months Ended June 30, Six Months Ended June 30, 2026 2025 2026 2025 Net income $ 9,953 $ 1,768 $ 14,617 $ 7,148 Interest expense 1,371 983 2,703 1,212 Income tax expense 3,581 17 5,190 81 Depreciation and amortization 664 374 1,295 626 EBITDA (Non-GAAP) $ 15,569 $ 3,142 $ 23,805 $ 9,067 Stock compensation expense 1,210 676 2,034 1,137 Severance and retirement — 7 11 51 Contingent liability revaluation — (2) — (127) Gain on disposal of asset — — — (7) Non-Recurring professional fees 9 4,195 31 4,195 Adjusted EBITDA (Non-GAAP) $ 16,788 $ 8,018 $ 25,881 $ 14,316 (1) Management believes that EBITDA and Adjusted EBITDA for the three and six months ended June 30, 2026 and 2025 are useful to investors toassess and understand operating performance, especially when comparing those results with previous and subsequent periods. Management views the adjustments made to net income for certain non-cash or non-recurring items noted above to be outside of the Company’s normaloperating results. Management analyzes operating results without the impact of the above items as an indicator of performance, to identifyunderlying trends in the business and cash flow from continuing operations, and to establish financial, compensation and operational objectives. Adjusted EBITDA as presented above does not add back non-cash amortization of contract assets totaling $2.5 million and $1.4 million during thethree months ended June 30, 2026 and 2025, respectively, and amortization of contract assets totaling $4.7 million and $2.9 million during the six months ended June 30, 2026 and 2025, respectively. (1) (1) 9