Earnings release
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Exhibit 99.1 Oceaneering Reports Third Quarter 2025 Results HOUSTON, October 22, 2025 – Oceaneering International, Inc. ("Oceaneering") (NYSE:OII) today reported third quarter 2025 results. • As compared to the third quarter of 2024: ◦ Revenue increased 9% to $743 million; ◦ Operating income increased 21% to $86.5 million; ◦ Net income increased 73% to $71.3 million; and ◦ Adjusted EBITDA increased 13% to $111 million. • Cash flow provided by operating activities was $101 million and free cash flow was $77.0 million, with an ending cash position of $506 million. • Shares repurchased were 440,814 for approximately $10.1 million. Rod Larson, Oceaneering's President and Chief Executive Officer, stated, "Our team continues to deliver positive results in a dynamic market environment. In the third quarter, we generated adjusted EBITDA in excess of our guidance range and consensus estimates through solid performance across our segments. This includes the ongoing conversion of higher-margin backlog in Manufactured Products, a continued favorable project mix and steady vessel utilization in our Offshore Projects Group (OPG), and improvement in average remotely operated vehicle (ROV) revenue per day utilized in Subsea Robotics (SSR). In addition, we secured total inbound orders of $854 million, with notable contract wins in SSR, Aerospace and Defense Technologies (ADTech), and Manufactured Products. "Looking forward to 2026, we are optimistic about our consolidated growth opportunities to be led by ADTech, although we expect the year to unfold differently than 2025. In the first quarter, we anticipate seasonally lower activity levels in our energy-focused businesses, with activity levels increasing in the second and third quarters. Accordingly, we are initiating full-year 2026 consolidated EBITDA guidance in the range of $390 million to $440 million." Third Quarter 2025 Segment Results As compared to the third quarter of 2024: • SSR revenue of $219 million, operating income of $65.1 million, and EBITDA margin of 36% were essentially flat. ROV revenue per day utilized increased 6% to $11,254. ROV fleet utilization declined to 65%. • Manufactured Products operating income of $24.7 million improved 119% and operating income margin expanded to 16% on a 9% increase in revenue. Backlog was $568 million on September 30, 2025. The book-to-bill ratio was 0.82 for the 12-month period ending on September 30, 2025. • OPG operating income increased 17% to $23.7 million on a 16% increase in revenue. Operating income margin was flat at 14%. • Integrity Management and Digital Solutions (IMDS) operating income increased significantly, and operating income margin improved on a 4% decrease in revenue due to the absence of a one-time, non-cash charge in the third quarter of 2024 related to the divestiture of the Maritime Intelligence division. • ADTech operating income of $16.6 million represented an increase of 36% on a 27% increase in revenue. Operating income margin improved to 13%. • At the corporate level, Unallocated Expenses increased 19% to $46.3 million. 1
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Fourth Quarter 2025 Guidance As compared to the fourth quarter of 2024, consolidated fourth quarter 2025 revenue is expected to be lower. Consolidated EBITDA is forecast to be in the range of $80 million to $90 million. At the segment level, for the fourth quarter of 2025, as compared to the fourth quarter of 2024: • SSR revenue and operating income are expected to increase. • Manufactured Products operating income is expected to increase significantly on lower revenue. • OPG revenue and operating income are expected to decrease significantly due to the absence of international projects that positively impacted the fourth quarter of 2024. • IMDS operating income is expected to decrease significantly on lower revenue. • ADTech revenue and operating income are expected to increase significantly. • Unallocated Expenses are expected to be in the $45 million range. Initial Full-Year 2026 Guidance • Consolidated EBITDA is projected to be in the range of $390 million to $440 million. • Free cash flow generation is forecast to be consistent with 2025 levels. • Share repurchase activity is expected to continue. Oceaneering will provide more specific guidance on its expectations for 2026 in its fourth quarter 2025 earnings release and conference call. Non-GAAP Financial Measures Adjusted net income (loss) and earnings (loss) per share; EBITDA and adjusted EBITDA on a consolidated and on a segment basis (as well as EBITDA and adjusted EBITDA margins); and free cash flow are non-GAAP measures that exclude the impacts of certain identified items. Reconciliations to the corresponding GAAP measures are shown in the tables Adjusted Net Income (Loss) and Diluted Earnings (Loss) per Share (EPS), EBITDA and Adjusted EBITDA and Margins, Free Cash Flow, Fourth Quarter 2025 Consolidated EBITDA Estimate, 2025 Free Cash Flow Estimate, 2026 Consolidated EBITDA Estimate, and EBITDA and Adjusted EBITDA and Margins by Segment. These tables are included below under the caption Reconciliations of Non-GAAP to GAAP Financial Information. Conference Call Details Oceaneering has scheduled a conference call and webcast on Thursday, October 23, 2025 at 10:00 a.m. Central Time, to discuss its results for the third quarter of 2025, guidance for the fourth quarter and full year of 2025, and initial guidance for the full year of 2026. Interested parties may listen to the call through a webcast link posted in the Investor Relations section of Oceaneering's website. A replay of the conference call will be made available on the website approximately two hours following the conclusion of the live call. Forward-Looking Statements This release contains "forward-looking statements," as defined in the Private Securities Litigation Reform Act of 1995, including, without limitation, statements as to the expectations, beliefs, future expected business, and financial performance and prospects of Oceaneering. More specifically, the forward-looking statements in this press release include the statements concerning Oceaneering’s: fourth quarter 2025 guidance for consolidated revenue, consolidated EBITDA, revenue and operating profitability by segment, and Unallocated Expenses; implied full-year 2025 guidance for consolidated 2
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EBITDA; initial full-year 2026 guidance for consolidated EBITDA; the expectations that 2026 free cash flow will be similar to 2025 levels and that share purchase activity will continue in 2026; activity levels quarter by quarter in 2026; and the characterization, whether positive or otherwise, of market fundamentals, conditions, and dynamics, robotics markets, offshore energy activity levels (including by geographic location), pricing levels, day rates, ROV days utilized, average ROV revenue per day utilized, vessel utilization, growth, bidding activity, outlook, performance, opportunities, and future financials, including as increasing, favorable, positive, encouraging, improving, seasonal, strong, supportive, robust, meaningful, considerable, healthy, or significant (which is used herein to indicate a change of 20% or greater). The forward-looking statements included in this release are based on Oceaneering's current expectations and are subject to certain risks, assumptions, trends, and uncertainties that could cause actual results to differ materially from those indicated by the forward-looking statements. Factors that could cause actual results to differ materially include: factors affecting the level of activity in the oil and gas industry, including worldwide demand for and prices of oil and natural gas, oil and natural gas production growth, and the supply and demand of offshore drilling rigs; the indirect consequences of climate change and climate-related business trends; actions by members of OPEC and other oil exporting countries; decisions about offshore developments to be made by oil and gas exploration, development, and production companies; the use of subsea completions and our ability to capture associated market share; general economic and business conditions and industry trends and uncertainty, including those related to tariffs and retaliatory tariffs; the strength of the industry segments in which we are involved; cancellations of contracts, customer contract disputes, change orders, and other contractual modifications, force majeure declarations, and the exercise of contractual suspension rights and the resulting adjustments to our backlog; collections from our customers; our future financial performance, including as a result of the availability, terms, and deployment of capital; the consequences of significant changes in currency exchange rates; the volatility and uncertainties of credit markets; changes in data privacy and security laws, regulations, and standards; changes in tax laws, regulations, and interpretation by taxing authorities; changes in, or our ability to comply with, other laws and governmental regulations, including those relating to the environment; the continued availability of qualified personnel; our ability to obtain raw materials and parts on a timely basis and, in some cases, from limited sources; operating risks normally incident to offshore exploration, development, and production operations; hurricanes and other adverse weather and sea conditions; cost and time associated with drydocking of our vessels; the highly competitive nature of our businesses; adverse outcomes from legal or regulatory proceedings; the risks associated with integrating businesses we acquire; rapid technological changes; and social, political, military, and economic situations in foreign countries where we do business and the possibilities of civil disturbances, war, other armed conflicts, or terrorist attacks. For a more complete discussion of these and other risk factors, please see Oceaneering’s latest annual report on Form 10-K and subsequent quarterly reports on Form 10-Q filed with the Securities and Exchange Commission. You should not place undue reliance on forward- looking statements. Except to the extent required by applicable law, Oceaneering undertakes no obligation to update or revise any forward-looking statement. About Oceaneering Oceaneering is a global technology company delivering engineered services and products and robotic solutions to the offshore energy, defense, aerospace, and manufacturing industries. For more information, please visit www.oceaneering.com. Contact: investorrelations@oceaneering.com Hilary Frisbie Senior Director, Investor Relations Oceaneering International, Inc. 3
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713-329-4755 - Tables follow on next page - 4
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OCEANEERING INTERNATIONAL, INC. AND SUBSIDIARIES CONDENSED CONSOLIDATED BALANCE SHEETS Sep 30, 2025 Dec 31, 2024 (in thousands) ASSETS Current assets (including cash and cash equivalents of $505,992 and $497,516) $ 1,501,843 $ 1,387,896 Net property and equipment 442,274 420,098 Other assets 595,201 528,353 Total Assets $ 2,539,318 $ 2,336,347 LIABILITIES AND EQUITY Current liabilities $ 763,859 $ 796,938 Long-term debt 486,022 482,009 Other long-term liabilities 375,706 337,078 Equity 913,731 720,322 Total Liabilities and Equity $ 2,539,318 $ 2,336,347 CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS For the Three Months Ended For the Nine Months Ended Sep 30, 2025 Sep 30, 2024 Jun 30, 2025 Sep 30, 2025 Sep 30, 2024 (in thousands, except per share amounts) Revenue $ 742,898 $ 679,811 $ 698,161 $ 2,115,582 $ 1,947,711 Cost of services and products 590,166 548,849 549,734 1,679,412 1,604,154 Gross margin 152,732 130,962 148,427 436,170 343,557 Selling, general and administrative expense 66,224 59,629 69,238 197,001 175,167 Operating income (loss) 86,508 71,333 79,189 239,169 168,390 Interest income 3,704 3,275 3,017 10,365 8,717 Interest expense, net of amounts capitalized (9,381) (9,456) (9,472) (27,928) (28,176) Equity in income (losses) of unconsolidated affiliates 97 323 311 770 787 Other income (expense), net (1,021) 3,133 5,371 5,325 6,372 Income (loss) before income taxes 79,907 68,608 78,416 227,701 156,090 Provision (benefit) for income taxes 8,618 27,371 23,974 51,593 64,721 Net Income (Loss) $ 71,289 $ 41,237 $ 54,442 $ 176,108 $ 91,369 Weighted average diluted shares outstanding 101,057 102,613 101,372 101,446 102,445 Diluted earnings (loss) per share $ 0.71 $ 0.40 $ 0.54 $ 1.74 $ 0.89 The above Condensed Consolidated Balance Sheets and Condensed Consolidated Statements of Operations should be read in conjunction with theCompany's latest Annual Report on Form 10-K and Quarterly Report on Form 10-Q. 5
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SEGMENT INFORMATION For the Three Months Ended For the Nine Months Ended Sep 30, 2025 Sep 30, 2024 Jun 30, 2025 Sep 30, 2025 Sep 30, 2024 ($ in thousands) Subsea Robotics Revenue $ 218,767 $ 215,715 $ 218,786 $ 643,529 $ 617,632 Operating income (loss) $ 65,142 $ 65,698 $ 64,505 $ 189,279 $ 171,685 Operating income (loss) % 30 % 30 % 29 % 29 % 28 % ROV days available 23,000 23,000 22,750 68,250 68,500 ROV days utilized 14,962 15,796 15,289 45,344 46,171 ROV utilization 65 % 69 % 67 % 66 % 67 % Manufactured Products Revenue $ 156,395 $ 143,734 $ 145,134 $ 436,566 $ 412,501 Operating income (loss) $ 24,651 $ 11,278 $ 18,772 $ 52,090 $ 38,837 Operating income (loss) % 16 % 8 % 13 % 12 % 9 % Backlog at end of period $ 568,000 $ 671,000 $ 516,000 $ 568,000 $ 671,000 Offshore Projects Group Revenue $ 171,046 $ 147,539 $ 149,281 $ 485,268 $ 406,651 Operating income (loss) $ 23,692 $ 20,294 $ 21,663 $ 81,021 $ 34,386 Operating income (loss) % 14 % 14 % 15 % 17 % 8 % Integrity Management & Digital Solutions Revenue $ 70,781 $ 73,622 $ 75,367 $ 217,566 $ 216,804 Operating income (loss) $ 2,756 $ 714 $ 4,647 $ 10,865 $ 7,802 Operating income (loss) % 4 % 1 % 6 % 5 % 4 % Aerospace and Defense Technologies Revenue $ 125,909 $ 99,201 $ 109,593 $ 332,653 $ 294,123 Operating income (loss) $ 16,557 $ 12,219 $ 16,299 $ 43,521 $ 32,271 Operating income (loss) % 13 % 12 % 15 % 13 % 11 % Unallocated Expenses Operating income (loss) $ (46,290) $ (38,870) $ (46,697) $ (137,607) $ (116,591) Total Revenue $ 742,898 $ 679,811 $ 698,161 $ 2,115,582 $ 1,947,711 Operating income (loss) $ 86,508 $ 71,333 $ 79,189 $ 239,169 $ 168,390 Operating income (loss) % 12 % 10 % 11 % 11 % 9 % The above Segment Information does not include adjustments for non-recurring transactions. See the tables below under the caption "Reconciliations ofNon-GAAP to GAAP Financial Information" for financial measures that our management considers in evaluating our ongoing operations. 6
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SELECTED CASH FLOW INFORMATION For the Three Months Ended For the Nine Months Ended Sep 30, 2025 Sep 30, 2024 Jun 30, 2025 Sep 30, 2025 Sep 30, 2024 (in thousands) Purchases of property and equipment $ 24,215 $ 24,886 $ 30,272 $ 80,575 $ 73,262 Capitalized cloud-based service contract costs 7,161 — 2,536 11,424 — Total Capital Expenditures $ 31,376 $ 24,886 $ 32,808 $ 91,999 $ 73,262 Depreciation and Amortization: Energy Services and Products Subsea Robotics $ 13,283 $ 12,076 $ 12,385 $ 37,404 $ 36,867 Manufactured Products 2,768 3,061 2,741 8,159 9,473 Offshore Projects Group 4,290 5,399 4,663 13,642 17,418 Integrity Management & Digital Solutions 1,830 1,348 1,839 5,399 4,410 Total Energy Services and Products 22,171 21,884 21,628 64,604 68,168 Aerospace and Defense Technologies 1,082 696 900 2,815 1,915 Unallocated Expenses 2,870 2,683 2,872 8,552 8,218 Total Depreciation and Amortization $ 26,123 $ 25,263 $ 25,400 $ 75,971 $ 78,301 7
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RECONCILIATIONS OF NON-GAAP TO GAAP FINANCIAL INFORMATION In addition to financial results determined in accordance with U.S. generally accepted accounting principles ("GAAP"), this press release also includes non-GAAP financial measures (as defined under certain rules and regulations promulgated by the Securities and Exchange Commission). We have included adjusted net income (loss) and diluted earnings (loss) per Share (EPS), each of which excludes the effects of certain specified items, as set forth in the tables that follow. As a result, these amounts are non-GAAP financial measures. We believe these are useful measures for investors to review because they provide consistent measures of the underlying results of our ongoing business. Furthermore, our management uses these measures as measures of the performance of our operations. We have also included disclosures of Earnings Before Interest, Taxes, Depreciation and Amortization (EBITDA), EBITDA Margins, 2024 consolidated adjusted EBITDA and free cash flow, and 2025 consolidated EBITDA and free cash flow estimates, as well as the following by segment: EBITDA, EBITDA margins, adjusted EBITDA, and adjusted EBITDA margins. We define EBITDA margin as EBITDA divided by revenue. Adjusted EBITDA and adjusted EBITDA margins and related information by segment exclude the effects of certain specified items, as set forth in the tables that follow. Due to the forward-looking nature of EBITDA for the fourth quarter of 2025, for the full year of 2025, and for the full year of 2026, we cannot reliably predict certain of the necessary line items for the reconciliations to net income and, accordingly, have excluded such line items in the reconciliation. EBITDA and EBITDA margins, adjusted EBITDA and adjusted EBITDA margins, and related information by segment are each non-GAAP financial measures. We define free cash flow as cash flow provided by operating activities less organic capital expenditures (i.e., purchases of property and equipment other than those in business acquisitions). We have included these disclosures in this press release because EBITDA, EBITDA margins, and free cash flow are widely used by investors for valuation purposes and for comparing our financial performance with the performance of other companies in our industry, and the adjusted amounts thereof provide more consistent measures than the unadjusted amounts. Furthermore, our management uses these measures for purposes of evaluating our financial performance. Our presentation of EBITDA, EBITDA margins, and free cash flow (and the adjusted amounts thereof) may not be comparable to similarly titled measures that other companies report. Non-GAAP financial measures should be viewed in addition to and not as substitutes for our reported operating results, cash flows, or any other measure prepared and reported in accordance with GAAP. The tables that follow provide reconciliations of the non-GAAP measures used in this press release to the most directly comparable GAAP measures. 8
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RECONCILIATIONS OF NON-GAAP TO GAAP FINANCIAL INFORMATION (continued) Adjusted Net Income (Loss) and Diluted Earnings (Loss) per Share (EPS) For the Three Months Ended Sep 30, 2025 Sep 30, 2024 Jun 30, 2025 Net Income (Loss) Diluted EPS Net Income (Loss) Diluted EPS Net Income (Loss) Diluted EPS (in thousands, except per share amounts) Net income (loss) and diluted EPS asreported in accordance with GAAP $ 71,289 $ 0.71 $ 41,237 $ 0.40 $ 54,442 $ 0.54 Pre-tax adjustments for the effects of: Foreign currency (gains) losses 999 (424) (5,430) Total pre-tax adjustments 999 (424) (5,430) Tax effect on pre-tax adjustments at theapplicable jurisdictional statutory rate in effectfor respective periods (902) 603 5,452 Discrete tax items: Share-based compensation (4) (2) (2) Uncertain tax positions (1,106) (1,178) (9) Valuation allowances (6,279) (1,759) (2,453) Other (8,236) (1,247) (2,209) Total discrete tax adjustments (15,625) (4,186) (4,673) Total of adjustments (15,528) (4,007) (4,651) Adjusted Net Income (Loss) $ 55,761 $ 0.55 $ 37,230 $ 0.36 $ 49,791 $ 0.49 Weighted average diluted shares outstandingutilized for Adjusted Net Income (Loss) 101,057 102,613 101,372 9
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RECONCILIATIONS OF NON-GAAP TO GAAP FINANCIAL INFORMATION (continued) Adjusted Net Income (Loss) and Diluted Earnings (Loss) per Share (EPS) For the Nine Months Ended Sep 30, 2025 Sep 30, 2024 Net Income(Loss) Diluted EPS Net Income(Loss) Diluted EPS (in thousands, except per share amounts) Net income (loss) and diluted EPS as reportedin accordance with GAAP $ 176,108 $ 1.74 $ 91,369 $ 0.89 Pre-tax adjustments for the effects of: Foreign currency (gains) losses (5,481) (3,655) Total pre-tax adjustments (5,481) (3,655) Tax effect on pre-tax adjustments at theapplicable jurisdictional statutory rate in effectfor respective periods 5,235 1,463 Discrete tax items: Share-based compensation (1,109) (1,976) Uncertain tax positions (3,526) 379 Valuation allowances (11,993) 3,332 Other (9,665) (11,228) Total discrete tax adjustments (26,293) (9,493) Total of adjustments (26,539) (11,685) Adjusted Net Income (Loss) $ 149,569 $ 1.47 $ 79,684 $ 0.78 Weighted average diluted shares outstandingutilized for Adjusted Net Income (Loss) 101,446 102,445 10
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RECONCILIATIONS OF NON-GAAP TO GAAP FINANCIAL INFORMATION (continued) EBITDA and Adjusted EBITDA and Margins For the Three Months Ended For the Nine Months Ended Sep 30, 2025 Sep 30, 2024 Jun 30, 2025 Sep 30, 2025 Sep 30, 2024 ($ in thousands) Net income (loss) $ 71,289 $ 41,237 $ 54,442 $ 176,108 $ 91,369 Depreciation and amortization 26,123 25,263 25,400 75,971 78,301 Subtotal 97,412 66,500 79,842 252,079 169,670 Interest expense, net of interest income 5,677 6,181 6,455 17,563 19,459 Amortization included in interestexpense (1,627) (1,537) (1,590) (4,773) (4,520) Provision (benefit) for income taxes 8,618 27,371 23,974 51,593 64,721 EBITDA 110,080 98,515 108,681 316,462 249,330 Adjustments for the effects of: Foreign currency (gains) losses 999 (424) (5,430) (5,481) (3,655) Total of adjustments 999 (424) (5,430) (5,481) (3,655) Adjusted EBITDA $ 111,079 $ 98,091 $ 103,251 $ 310,981 $ 245,675 Revenue $ 742,898 $ 679,811 $ 698,161 $ 2,115,582 $ 1,947,711 EBITDA margin % 15 % 14 % 16 % 15 % 13 % Adjusted EBITDA margin % 15 % 14 % 15 % 15 % 13 % Free Cash Flow For the Three Months Ended For the Nine Months Ended Sep 30, 2025 Sep 30, 2024 Jun 30, 2025 Sep 30, 2025 Sep 30, 2024 (in thousands) Net Income (loss) $ 71,289 $ 41,237 $ 54,442 $ 176,108 $ 91,369 Non-cash adjustments: Depreciation and amortization 26,123 25,263 25,400 75,971 78,301 Other non-cash (204) 7,440 5,671 19,896 11,866 Other increases (decreases) in cash fromoperating activities 4,055 17,991 (8,326) (174,243) (106,699) Cash flow provided by (used in) operating activities 101,263 91,931 77,187 97,732 74,837 Purchases of property and equipment (24,215) (24,886) (30,272) (80,575) (73,262) Free Cash Flow $ 77,048 $ 67,045 $ 46,915 $ 17,157 $ 1,575 11
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RECONCILIATIONS OF NON-GAAP TO GAAP FINANCIAL INFORMATION (continued) Fourth Quarter 2025 Consolidated EBITDA Estimate For the Three Months Ending December 31, 2025 Low High (in thousands) Income (loss) before income taxes $ 51,000 $ 59,000 Depreciation and amortization 25,000 26,000 Subtotal 76,000 85,000 Interest expense, net of interest income 6,000 7,000 Amortization included in interest expense (2,000) (2,000) Consolidated EBITDA $ 80,000 $ 90,000 2025 Free Cash Flow Estimate For the Year Ending December 31, 2025 Low High (in thousands) Net income (loss) $ 208,000 $ 213,000 Depreciation and amortization 101,000 102,000 Other increases (decreases) in cash from operating activities (84,000) (65,000) Cash flow provided by (used in) operating activities 225,000 250,000 Purchases of property and equipment (115,000) (120,000) Free Cash Flow $ 110,000 $ 130,000 2026 Consolidated EBITDA Estimate For the Year Ending December 31, 2026 Low High (in thousands) Income (loss) before income taxes $ 270,000 $ 307,000 Depreciation and amortization 105,000 114,000 Subtotal 375,000 421,000 Interest expense, net of interest income 21,000 26,000 Amortization included in interest expense (6,000) (7,000) Consolidated EBITDA $ 390,000 $ 440,000 12
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RECONCILIATIONS OF NON-GAAP TO GAAP FINANCIAL INFORMATION (continued) EBITDA and Adjusted EBITDA and Margins by Segment For the Three Months Ended September 30, 2025 SSR MP OPG IMDS ADTech UnallocatedExpenses andother Total ($ in thousands) Operating Income (Loss) asreported in accordance withGAAP $ 65,142 $ 24,651 $ 23,692 $ 2,756 $ 16,557 $ (46,290) $ 86,508 Adjustments for the effects of: Depreciation andamortization 13,283 2,768 4,290 1,830 1,082 2,870 26,123 Other pre-tax — — — — — (2,551) (2,551) EBITDA 78,425 27,419 27,982 4,586 17,639 (45,971) 110,080 Adjustments for the effects of: Foreign currency (gains)losses — — — — — 999 999 Total of adjustments — — — — — 999 999 Adjusted EBITDA $ 78,425 $ 27,419 $ 27,982 $ 4,586 $ 17,639 $ (44,972) $ 111,079 Revenue $ 218,767 $ 156,395 $ 171,046 $ 70,781 $ 125,909 $ 742,898 Operating income (loss) % asreported in accordance withGAAP 30 % 16 % 14 % 4 % 13 % 12 % EBITDA Margin 36 % 18 % 16 % 6 % 14 % 15 % Adjusted EBITDA Margin 36 % 18 % 16 % 6 % 14 % 15 % For the Three Months Ended September 30, 2024 SSR MP OPG IMDS ADTech UnallocatedExpenses andother Total ($ in thousands) Operating Income (Loss) asreported in accordance withGAAP $ 65,698 $ 11,278 $ 20,294 $ 714 $ 12,219 $ (38,870) $ 71,333 Adjustments for the effects of: Depreciation andamortization 12,076 3,061 5,399 1,348 696 2,683 25,263 Other pre-tax — — — — — 1,919 1,919 EBITDA 77,774 14,339 25,693 2,062 12,915 (34,268) 98,515 Adjustments for the effects of: Foreign currency (gains)losses — — — — — (424) (424) Total of adjustments — — — — — (424) (424) Adjusted EBITDA $ 77,774 $ 14,339 $ 25,693 $ 2,062 $ 12,915 $ (34,692) $ 98,091 Revenue $ 215,715 $ 143,734 $ 147,539 $ 73,622 $ 99,201 $ 679,811 Operating income (loss) % asreported in accordance withGAAP 30 % 8 % 14 % 1 % 12 % 10 % EBITDA Margin 36 % 10 % 17 % 3 % 13 % 14 % Adjusted EBITDA Margin 36 % 10 % 17 % 3 % 13 % 14 % ` 13
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RECONCILIATIONS OF NON-GAAP TO GAAP FINANCIAL INFORMATION (continued) EBITDA and Adjusted EBITDA and Margins by Segment For the Three Months Ended June 30, 2025 SSR MP OPG IMDS ADTech UnallocatedExpenses andother Total ($ in thousands) Operating Income (Loss) asreported in accordance withGAAP $ 64,505 $ 18,772 $ 21,663 $ 4,647 $ 16,299 $ (46,697) $ 79,189 Adjustments for the effects of: Depreciation andamortization 12,385 2,741 4,663 1,839 900 2,872 25,400 Other pre-tax — — — — — 4,092 4,092 EBITDA 76,890 21,513 26,326 6,486 17,199 (39,733) 108,681 Adjustments for the effects of: Foreign currency (gains)losses — — — — — (5,430) (5,430) Total of adjustments — — — — — (5,430) (5,430) Adjusted EBITDA $ 76,890 $ 21,513 $ 26,326 $ 6,486 $ 17,199 $ (45,163) $ 103,251 Revenue $ 218,786 $ 145,134 $ 149,281 $ 75,367 $ 109,593 $ 698,161 Operating income (loss) % asreported in accordance withGAAP 29 % 13 % 15 % 6 % 15 % 11 % EBITDA Margin 35 % 15 % 18 % 9 % 16 % 16 % Adjusted EBITDA Margin 35 % 15 % 18 % 9 % 16 % 15 % 14
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RECONCILIATIONS OF NON-GAAP TO GAAP FINANCIAL INFORMATION (continued) EBITDA and Adjusted EBITDA and Margins by Segment For the Nine Months Ended September 30, 2025 SSR MP OPG IMDS ADTech UnallocatedExpenses andother Total ($ in thousands) Operating Income (Loss) asreported in accordance withGAAP $ 189,279 $ 52,090 $ 81,021 $ 10,865 $ 43,521 $ (137,607) $ 239,169 Adjustments for the effects of: Depreciation andamortization 37,404 8,159 13,642 5,399 2,815 8,552 75,971 Other pre-tax — — — — — 1,322 1,322 EBITDA 226,683 60,249 94,663 16,264 46,336 (127,733) 316,462 Adjustments for the effects of: Foreign currency (gains)losses — — — — — (5,481) (5,481) Total of adjustments — — — — — (5,481) (5,481) Adjusted EBITDA $ 226,683 $ 60,249 $ 94,663 $ 16,264 $ 46,336 $ (133,214) $ 310,981 Revenue $ 643,529 $ 436,566 $ 485,268 $ 217,566 $ 332,653 $ 2,115,582 Operating income (loss) %as reported in accordancewith GAAP 29 % 12 % 17 % 5 % 13 % 11 % EBITDA Margin 35 % 14 % 20 % 7 % 14 % 15 % Adjusted EBITDA Margin 35 % 14 % 20 % 7 % 14 % 15 % For the Nine Months Ended September 30, 2024 SSR MP OPG IMDS ADTech UnallocatedExpenses andother Total ($ in thousands) Operating Income (Loss) asreported in accordance withGAAP $ 171,685 $ 38,837 $ 34,386 $ 7,802 $ 32,271 $ (116,591) $ 168,390 Adjustments for the effects of: Depreciation andamortization 36,867 9,473 17,418 4,410 1,915 8,218 78,301 Other pre-tax — — — — — 2,639 2,639 EBITDA 208,552 48,310 51,804 12,212 34,186 (105,734) 249,330 Adjustments for the effects of: Foreign currency (gains)losses — — — — — (3,655) (3,655) Total of adjustments — — — — — (3,655) (3,655) Adjusted EBITDA $ 208,552 $ 48,310 $ 51,804 $ 12,212 $ 34,186 $ (109,389) $ 245,675 Revenue $ 617,632 $ 412,501 $ 406,651 $ 216,804 $ 294,123 $ 1,947,711 Operating income (loss) %as reported in accordancewith GAAP 28 % 9 % 8 % 4 % 11 % 9 % EBITDA Margin 34 % 12 % 13 % 6 % 12 % 13 % Adjusted EBITDA Margin 34 % 12 % 13 % 6 % 12 % 13 % 15