Independence contract drilling, inc. reports financial results for the second quarter ended june 30, 2024

Houston , aug. 7, 2024 /prnewswire/ -- independence contract drilling, inc. (the "company" or "icd") (nyse: icd) today reported financial results for the three months ended june 30, 2024. second quarter 2024 highlights net loss of $16.7 million, or $1.15 per share adjusted net loss, as defined below, of $10.6 million, or $0.73 per share adjusted ebitda, as defined below, of $8.5 million, representing a 28% sequential decrease adjusted net debt, as defined below, of $196.7 million, representing a 3% sequential increase 14.5 average rigs working during the quarter, representing a 4% sequential decrease fully burdened margin per day of $9,675, representing a 18% sequential decrease in the second quarter of 2024, the company reported revenues of $43.3 million, net loss of $16.7 million, or $1.15 per share, adjusted net loss (defined below) of $10.6 million, or $0.73 per share, and adjusted ebitda (defined below) of $8.5 million.
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