Expro Group Holdings N.V. (NYSE: XPRO) has released its financial and operational results for the fourth quarter of 2025, highlighting a revenue of $382 million, a net income of $6 million, and an adjusted EBITDA of $88 million with a margin of 23.1%. The company also reported a full-year 2025 revenue of $1,607 million, a net income of $52 million, and an adjusted EBITDA of $353 million with a margin of 22.0%.
In terms of cash flow, Expro generated $57 million in net cash from operating activities in Q4 2025, resulting in free cash flow of $23 million and adjusted free cash flow of $28 million. For the full year, the company achieved free cash flow of $98 million and adjusted free cash flow of $127 million, significantly surpassing expectations.
Furthermore, the company announced a voluntary prepayment of its revolving credit facility of $20 million in Q4 2025, enhancing its net cash position. The total order backlog at the end of December 31, 2025, stood at $2.5 billion.
Expro's CEO, Michael Jardon, expressed satisfaction with the company's financial performance in 2025, noting the significant improvement in adjusted free cash flow, which more than doubled from the previous year. He also highlighted the company's strategic initiatives, including share repurchases of $40 million and the expansion of adjusted EBITDA margin to 22.0%.
Looking ahead to 2026, Expro expects similar or improved financial results compared to 2025, with an anticipated adjusted EBITDA of $355 million to $375 million and adjusted free cash flow of $125 million to $145 million. The company also intends to utilize at least 33% of the free cash flow generated for capital returns to shareholders.
Expro also highlighted notable achievements, including securing a four-year, $380 million contract in North Africa and receiving contract extensions and awards in various regions, showcasing the company's technological advancements and operational excellence.
In terms of segment results, the company reported revenue and EBITDA figures for its North and Latin America (NLA), Europe and Sub-Saharan Africa (ESSA), Middle East and North Africa (MENA), and Asia Pacific (APAC) segments, comparing the results for the fourth quarter of 2025 to the third quarter of 2025.
The company's consolidated cash and cash equivalents, including restricted cash, totaled $197 million as of December 31, 2025, with total liquidity standing at $551 million. Expro also disclosed its capital expenditure, share repurchase authorization, and its commitment to returning capital to shareholders.
Expro's financial measures provided non-GAAP measures, and the company's full financials are available in the investor section of their website.
The company will also host a conference call on February 19, 2026, to discuss the fourth quarter and full-year 2025 results, and the investor presentation is available on the investor section of Expro's website.
About Expro: Expro is a leading provider of energy services, offering cost-effective and innovative solutions across the entire well life cycle.
The press release can be downloaded in the investor section of www.expro.com. Today the company's shares have moved -0.18% to a price of $16.21. For more information, read the company's full 8-K submission here.
