Expro Group Holdings N.V. (NYSE: XPRO) has released its financial and operational results for the third quarter of 2025, showcasing significant growth and increased full-year guidance. The company reported revenue of $411 million for the third quarter, with a net income of $14 million and a net income margin of 3%.
The adjusted EBITDA for the quarter was $94 million, representing an adjusted EBITDA margin of 22.8%, which ranks among the top in its peer group. The company also generated cash flow from operations of $63 million, or 15% of revenues. Notably, Expro's free cash flow was $39 million, with a free cash flow margin of 9%. Adjusted free cash flow stood at $46 million, with an adjusted free cash flow margin of 11%.
Expro also engaged in share repurchases, totaling $25 million in the third quarter, and a voluntary prepayment of its revolving credit facility of $22 million. The company's total order backlog at the end of September 30, 2025, amounted to $2.3 billion.
In terms of full-year guidance, Expro has increased its adjusted EBITDA guidance to between $350 million and $360 million, and its adjusted free cash flow guidance to between $110 million and $120 million.
The company's CEO, Michael Jardon, attributed the strong results to operational excellence, innovation, and free cash flow generation, even in a softer market backdrop. Expro's achievements in the third quarter include setting an offshore world record for the heaviest casing string deployment and introducing industry-first technologies such as qpulse™ and elite composition™, which have been recognized with prestigious awards.
Expro's focus on innovation and operational excellence was further underscored by the company's performance across its global operations, including notable contract wins and safety achievements in various regions.
In terms of financials, Expro generated $39 million in free cash flow and $46 million of adjusted free cash flow in the third quarter. The company also repurchased approximately 2 million shares in the quarter, totaling $25 million.
Looking ahead, Expro has adjusted its full-year revenue expectation to be between $1,600 million and $1,650 million, with reduced capital expenditures between $110 million and $120 million.
In terms of segment results, the North and Latin America (NLA) segment saw an increase in revenue and segment EBITDA, while the Europe and Sub-Saharan Africa (ESSA) segment reported a decrease in revenue but an increase in segment EBITDA. The Middle East and North Africa (MENA) segment experienced a decrease in revenue and segment EBITDA, and the Asia Pacific (APAC) segment also saw a decrease in revenue.
Following these announcements, the company's shares moved 5.55%, and are now trading at a price of $13.51. If you want to know more, read the company's complete 8-K report here.
