NGS (NGS) financial statements
NGS reported revenue of $172M in fiscal 2025, up 10.2% a year over 9 years.
Net income was $20M and the operating margin 21.6%, against 11.8% in 2016.
Free cash flow was -$59M, and the company returned $3M in dividends.
Revenue and free cash flow
Fiscal years, $ billions.
Income statement
Fiscal years, from NGS's 10-K filings with the SEC.
| Fiscal year | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $72M | $68M | $65M | $78M | $68M | $72M | $10M | $15M | $157M | $172M |
| Cost of revenue | — | — | — | — | — | — | $46M | $62M | $69M | $72M |
| Gross profit | — | — | — | — | — | — | -$36M | -$47M | $88M | $101M |
| Selling, general and admin | $9M | $10M | $9M | $11M | $11M | $11M | $14M | $17M | $21M | $22M |
| Operating income | $8M | $1M | -$507,000 | -$15M | -$4M | -$12M | $431,000 | $10M | $33M | $37M |
| Interest expense | $8,000 | $14,000 | $69,000 | $15,000 | $14,000 | $65,000 | $364,000 | $4M | $12M | $14M |
| Pre-tax income | $8M | $2M | -$394,000 | -$15M | -$3M | -$12M | -$41,000 | $7M | $22M | $27M |
| Income tax | $2M | -$18M | $72,000 | -$693,000 | -$5M | -$3M | $528,000 | $2M | $4M | $7M |
| Net income | $6M | $20M | -$466,000 | -$14M | $2M | -$9M | -$569,000 | $5M | $17M | $20M |
| EPS (diluted) | $0.50 | $1.51 | -$0.04 | -$1.06 | $0.14 | -$0.70 | -$0.05 | $0.38 | $1.37 | $1.57 |
| Diluted shares | 13M | 13M | 13M | 13M | 13M | 13M | 12M | 12M | 13M | 13M |
| Gross margin | — | — | — | — | — | — | -347.5% | -316.1% | 56.1% | 58.3% |
| Operating margin | 11.8% | 2.2% | -0.8% | -19.3% | -5.3% | -17.1% | 4.2% | 69.7% | 21.3% | 21.6% |
| Net margin | 9.0% | 29.2% | -0.7% | -17.7% | 2.7% | -12.7% | -5.5% | 31.6% | 11.0% | 11.6% |
Balance sheet
Fiscal years, from NGS's 10-K filings with the SEC.
| Fiscal year | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash and short-term investments | $64M | $69M | $53M | $12M | $29M | $23M | $3M | $3M | $2M | $0 |
| Receivables | $7M | $9M | $7M | $9M | $12M | $10M | $15M | $39M | $16M | $18M |
| Inventory | $21M | $26M | $30M | $21M | $20M | $19M | $23M | $22M | $18M | $21M |
| Total current assets | $95M | $108M | $95M | $42M | $73M | $65M | $54M | $76M | $48M | $57M |
| Property, plant and equipment | $8M | $8M | $17M | $22M | $22M | $21M | $22M | $21M | $23M | $21M |
| Goodwill | $10M | $10M | $10M | $0 | — | — | — | — | — | $0 |
| Total assets | $294M | $298M | $304M | $287M | $307M | $299M | $328M | $479M | $493M | $587M |
| Total current liabilities | $6M | $7M | $11M | $6M | $11M | $20M | $30M | $33M | $17M | $25M |
| Total liabilities | $61M | $41M | $45M | $39M | $55M | $63M | $98M | $243M | $237M | $312M |
| Shareholders' equity | $233M | $257M | $259M | $248M | $252M | $236M | $230M | $236M | $255M | $275M |
| Net debt | -$64M | -$69M | -$53M | -$12M | -$29M | -$23M | -$3M | -$3M | -$2M | $0 |
Cash flow
Fiscal years, from NGS's 10-K filings with the SEC.
| Fiscal year | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating cash flow | $32M | $17M | $24M | $29M | $33M | $29M | $28M | $18M | $66M | $63M |
| Capital spending | $3M | $14M | $40M | $70M | $15M | $26M | $65M | $154M | $72M | $121M |
| Free cash flow | $28M | $4M | -$16M | -$41M | $17M | $3M | -$37M | -$136M | -$5M | -$59M |
| Stock-based compensation | $2M | $4M | $2M | $3M | $2M | $2M | $2M | $2M | $2M | $2M |
| Dividends paid | — | — | — | — | — | — | — | $0 | $0 | $3M |
| Share buybacks (net) | — | $0 | $0 | -$490,000 | $0 | -$8M | -$7M | $0 | $0 | — |
| Free cash flow margin | 39.7% | 5.9% | -25.0% | -51.7% | 25.6% | 3.9% | -360.6% | -905.6% | -3.5% | -34.0% |
| Dividends per share | — | — | — | — | — | — | — | — | — | $0.21 |
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Open NGS in InvestinglyQuestions
What was NGS's revenue in 2025?
$172M in fiscal 2025, from its 10-K filing.
How much free cash flow does NGS generate?
-$59M in fiscal 2025 (operating cash flow minus capital spending).
From NGS's annual reports filed with the SEC (XBRL data), standardised by Investingly. Information only, not investment advice.