Flotek Lifts 2026 Outlook After Twelve-Year-High Quarterly Revenue

The Tip Desk · November 10, 2026 · 3 min read

Third-quarter revenue reached $114.4 million, a twelve-year high, and the company raised full-year revenue guidance to $382 million to $390 million.

Flotek Industries (FTK), a Houston-based technology company combining near real-time data analytics with completion chemistry, reported third-quarter 2026 revenue of $114.4 million, more than doubling from $56.0 million a year earlier and reaching its highest quarterly level in twelve years.

The company said both Chemistry Technologies and Data Analytics revenue increased 104% versus the year-ago quarter. Sequential growth slowed to 15% from 42% in the second quarter, after 27% year-over-year growth in the first quarter.

Adjusted EBITDA rose to $19.5 million from $10.4 million a year earlier. Sequential Adjusted EBITDA growth slowed to 16% from 85% in the prior quarter.

Net income fell 35% to $13.3 million, or $0.34 a share, from $20.4 million, or $0.53 a share, a year earlier. The year-ago quarter included a $12.6 million non-cash tax benefit related to a partial release of the company’s valuation allowance on deferred tax assets.

Gross profit was $27.4 million, or 24% of revenue, versus 32% of revenue a year earlier. The company attributed the margin compression primarily to a $7.8 million decline in Minimum Purchase Requirements revenue, which carries no associated cost. Minimum Purchase Requirements revenue fell to $0.9 million from $8.7 million a year earlier as related-party chemistry volumes rose.

Chemistry Technologies revenue was $96.3 million. Related-party chemistry revenue exceeded $50 million in a quarter for the first time in the history of the long-term supply agreement with ProFrac Services LLC. International Chemistry revenue grew to $28.4 million from $2.2 million a year earlier, accounting for 25% of total revenue, which the company tied to ongoing work in the Middle East.

Data Analytics revenue was $18.1 million, after 223% year-over-year growth in the second quarter and 295% in the first quarter. Chief Executive Officer Dr. Ryan Ezell said the segment generated 45% of total company gross profit on only 16% of total revenue, after 51% of gross profit in the second quarter and 50% in the first quarter.

Based on year-to-date results and its outlook for the fourth quarter, Flotek increased full-year 2026 guidance to $382 million to $390 million in revenue from $360 million to $370 million, and to $59 million to $62 million in Adjusted EBITDA from $50 million to $54 million.

The company closed a term loan in September that it said is expected to fund an expanded Data Analytics capital plan. It expects 2027 capital expenditures of $15 million to $20 million, with investments focused on expanding proprietary measurement instruments, growing near real-time gas conditioning and distribution equipment, and enhancing manufacturing capacity. Ezell said the company expects the plan to exceed cumulative capital expenditures over the past several years as it pursues applications beyond oil and gas, including behind-the-meter power generation.

Cash and cash equivalents were $21.3 million at September 30, 2026. The term loan facility, net of deferred financing costs, was $70.0 million, including $11.7 million held by a related party.