Stonegate Updates Coverage on NCS Multistage Holdings, Inc. (NCSM) 2024 Q4
Dallas, Texas–(Newsfile Corp. – March 12, 2025) – NCS Multistage Holdings, Inc. (NASDAQ: NCSM): Stonegate Capital Partners updates their coverage on NCS Multistage Holdings, Inc. (NASDAQ: NCSM). In 4Q24, the Company experienced a 28% year-over-year increase in total revenues, reaching $45.0M. This growth was driven by a significant rise in international revenues across both product sales and services, with strength in the Middle East tracer diagnostics projects. Canada also saw strong Y/Y growth of 19.5%. Results were mixed in the U.S. with product sales increasing 29.1 and services revenues decreasing 9.5%. Going forward we expect that the Company will continue to see modest revenue growth through FY25 despite the threat of increasing tariffs. Consolidated gross margins expanded from 36.6% in 4Q23 to 43.1% in 4Q24.
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Key Takeaways:
- Total revenues of $45.0 million, a 28% year over-year improvement.
- NCSM reported a liquidity position of $46.0M, an increase from $37.0M (3Q24).
- Adjusted EBITDA of $8.2 million, a $5.7 million year-over-year improvement.
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About Stonegate
Stonegate Capital Partners is a leading capital markets advisory firm providing investor relations, equity research, and institutional investor outreach services for public companies. Our affiliate, Stonegate Capital Markets (member FINRA) provides a full spectrum of investment banking, equity research and capital raising for public and private companies.
Source: Stonegate, Inc.
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