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Red Flags Detected

  • Flatrock Acquisition Integration Risk (new) — New risk factor warns that failure to integrate Flatrock's systems, retain employees, or achieve synergies could materially harm results.
  • Flatrock Assumed Liabilities (new) — Company may face known and unknown liabilities from Flatrock's pre-acquisition operations with limited recourse against sellers.
  • Flatrock Share Issuance Dilution (new) — 241,803 shares issued for Flatrock diluted existing shareholders and may pressure stock price if resold.
NYSE: NGS NATURAL GAS SERVICES GROUP INC 10-Q

NGS Q2 revenue +24% to $51.4M, net income -26% to $3.8M on Flatrock deal costs

Filed August 10, 2026 · Period ending June 30, 2026 · Compared to 10-Q Aug 11, 2025 · ~1 min read

Key Changes

  • high

    Acquired Flatrock Compression for $119M (87,233 HP fleet), funded by $146M debt increase to $328M; incurred $3.3M transaction costs in Q2 with more expected in Q3 for integration.

    MD&A: Flatrock Acquisition verify on EDGAR →
  • high

    Rental revenue rose 24.2% to $51.4M with adjusted gross margin improving to 61.1% (from 60.8%), driven by large-horsepower units and Flatrock's $1.9M contribution.

    MD&A: Rental Revenue verify on EDGAR →
  • high

    Net income fell 26.2% to $3.8M (diluted EPS $0.30, -26.8%) despite flat operating income of $9.9M, as interest expense rose 37% to $4.4M and effective tax rate jumped to 30.9% from 23.5%.

    MD&A: Interest Expense & Income Tax verify on EDGAR →

1 more material change behind this preview — plus the full narrative summary, section-by-section diffs against the prior filing, and verbatim quotes with EDGAR citations.

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View original filing on SEC.gov View full financials on EDGAR ↗

Figures/quotes linked to EDGAR · Narrative written by AI · Aug 18, 2026 · How we verify