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National Energy Services Reunited Corp. Reports Third Quarter 2021 Financial Results Revenue for the third quarter of 2021 is $ 218 million Exhibit 99.1 • • Free cash flow ( a non - GAAP measure ) for the third quarter of 2021 is $ 17 million * • Entered into a flagship , sustainability - linked , green credit facility refinancing • Net Income for the third quarter of 2021 is $ 2 million • Adjusted EBITDA ( a non - GAAP measure ) is $ 49 million * • Adjusted Net Income ( a non - GAAP measure ) for the third quarter of 2021 is $ 7 million * Diluted Earnings per Share ( EPS ) for the third quarter of 2021 is $ 0.02 Adjusted Diluted EPS ( a non - GAAP measure ) , which includes $ 0.06 per share of Charges and Credits , for the third quarter of 2021 is $ 0.08 * HOUSTON , November 3 , 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 its financial results for the quarter ended September 30 , 2021. The Company posted the following results for the periods presented : ( in thousands except per share amounts and percentages ) September 30 , 2021 Three Months Ended June 30 , 2021 Variance September 30 , 2020 Year - over- Sequential year Revenue 217,992 $ 234,927 $ 218,423 ( 7 ) % - % Net income 1,931 7,821 11,666 ( 75 ) % ( 83 ) % Adjusted net income ( non - GAAP ) * 6,984 12,817 14,165 ( 46 ) % ( 51 ) % Adjusted EBITDA ( non - GAAP ) * 48,674 53,607 55,803 ( 9 ) % ( 13 ) % Diluted EPS 0.02 0.08 0.13 ( 75 ) % ( 85 ) % Adjusted Diluted EPS ( non - GAAP ) * 0.08 0.14 0.16 ( 43 ) % ( 50 ) % Free cash flow ( non - GAAP ) * 17,005 11,663 8,668 $ 5,342 $ 8,337 * The Company presents its financial results in accordance with generally accepted accounting principles in the United States of America ( " GAAP " ) . However , management believes that using additional non - GAAP measures will enhance the evaluation of the profitability of the Company and its ongoing operations . Please see Tables 1 , 2 , 3 , 4 , 5 and 6 below for reconciliations of GAAP to non - GAAP financial measures . Sherif Foda , Chairman of the Board and CEO of NESR said , “ During the quarter , our team continued to prepare NESR for the emerging upcycle by generating strong free cash flow , securing multiple new contract awards , and executing a bevy of key technology partnerships . We are also extremely excited about the speed of development of our own disruptive drilling technologies , ESG Impact Segment and the progress we made this quarter . Despite the predicted temporary disruption during the quarter due mainly to the COVID - 19 Delta variant and supply chain bottlenecks that delayed the startup of several projects , our thesis that MENA will be the main engine for growth and that the super cycle is materializing is more and more evident . As such , we continue to invest to ensure that we are the trusted and reliable partner to our customers . To support this growth , we finalized a milestone green debt refinancing this quarter that will provide enhanced liquidity and financial flexibility for continued growth . " Mr. Foda continued , “ I am very proud to report that during the FII , the world witnessed the leadership of Saudi Arabia with its Saudi Green Initiative , and our industry can play a vital role in lowering the total carbon footprint in the region and provide technologies for both the Blue and Green hydrogen . These technologies span not only in the carbon capture and storage space ,