Flotek reports positive gross profit for first quarter 2023 and initiates 2023 guidance

Houston , may 8, 2023 /prnewswire/ -- flotek industries, inc. ("flotek" or the "company") (nyse: ftk) today announced operational and financial results for the first quarter ended march 31, 2023. financial summary (in thousands) q1 2023 q4 2022 percent change q1 2022 percent change total revenue $ 48,007 $ 48,217 0 % $ 12,879 273 % gross profit (loss) $ 1,880 $ (2,074) 191 % $ (479) 492 % adjusted gross profit (loss) (1) $ 2,647 $ (522) 607 % $ (226) 1,271 % net income (loss) $ 21,343 $ (19,026) 212 % $ (10,724) 299 % adjusted ebitda (1) $ (3,851) $ (5,079) 24 % $ (5,446) 29 % (1) a non-gaap financial measure.
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