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sec.gov/Archives/edgar/data/0001698514/000149315221010555/ex99-1.htm National Energy Services Reunited Corp. Reports Preliminary Unaudited First Quarter 2021 Financial Results ● Revenue for the first quarter of 2021 is $ 212 million , growing 7 % year - over - year and remaining flat quarter - over - quarter ● Operating income for the first quarter of 2021 is $ 16 million , improving 29 % quarter - over - quarter • Adjusted EBITDA ( a non - GAAP measure ) for the first quarter of 2021 is $ 50 million ( 1 ) Net cash provided by operating activities for the first quarter of 2021 is $ 47 million , improving $ 38 million year - over - year ● Free cash flow ( a non - GAAP measure ) for the first quarter of 2021 is $ 37 million , improving $ 50 million year - over - year and $ 4 million over the sequential quarter ( 1 ) HOUSTON , May 6 , 2021 - National Energy Services Reunited Corp. ( " NESR " or the " Company " ) ( NASDAQ : NESR ) ( NASDAQ : NESRW ) , a national , industry - leading provider of integrated energy services in the Middle East and North Africa ( " MENA " ) and Asia Pacific regions , today reported certain preliminary unaudited financial results for the quarter ended March 31 , 2021. The Company posted the following results for the periods presented : ( in US $ thousands except percentages ) Revenue Operating income Adjusted EBITDA ( non - GAAP ) Net cash provided by operating activities Free cash flow ( non ( 1 ) GAAP ) Three Months Ended ( 1 ) March 31 , 2021 $ 212,426 15,733 50,221 47,482 36,701 December 31 , 2020 $ 213,175 12,172 54,615 47,717 32,842 March 31 , 2020 $ 199,299 18,515 50,938 9,949 ( 13,593 ) Variance Sequential 29 ( 8 ( 235 3,859 % % ) % ) Year over year 7 ( 15 ( 1 37,533 50,294 % ) % ) % 1/9