Expro Ltd filed its Form 10-Q for the quarterly period ended September 30, 2026 with the U.S. Securities and Exchange Commission on November 3, 2026, reporting a net loss for the third quarter and elevated merger and integration expense.

Key Highlights

  • Quarterly net loss: Expro reported a net loss of $5,201 thousand for the three months ended September 30, 2026, compared to net income of $13,963 thousand in the same period of 2025.
  • Total revenue: Revenue for the three months ended September 30, 2026 was $439,943 thousand, up from $411,356 thousand in the prior-year quarter.
  • Merger and integration expense: The company recorded $9,994 thousand in merger and integration expense for the third quarter of 2026, compared to $1,293 thousand in the third quarter of 2025.
  • Long-term borrowings: Long-term borrowings stood at $259,065 thousand as of September 30, 2026, compared to $79,065 thousand at December 31, 2025.
  • Acquisition outlay: Cash flows from investing activities included $195,176 thousand for the payment for acquisition of a business, net of cash acquired, during the nine months ended September 30, 2026.
  • Shares outstanding: As of October 27, 2026, there were 111,793,099 ordinary shares outstanding, par value $0.0001 per share.

Expro Ltd's Third-Quarter 2026 Financial Results and Business Activity

According to the filing, Expro Ltd (NYSE:XPRO), a Cayman Islands-incorporated company headquartered in Houston, Texas, reported total revenue of $439,943 thousand for the three months ended September 30, 2026, an increase from $411,356 thousand in the comparable 2025 quarter. Despite the revenue increase, the company disclosed a net loss of $5,201 thousand for the period, compared to net income of $13,963 thousand in the prior-year quarter. Basic and diluted loss per share were each $(0.05) for the third quarter of 2026.

The filing attributes a significant portion of the quarterly earnings decline to merger and integration expense, which totaled $9,994 thousand for the three months ended September 30, 2026, compared to $1,293 thousand in the same quarter of 2025. For the nine months ended September 30, 2026, merger and integration expense reached $13,916 thousand. Cost of revenue, excluding depreciation and amortization, also rose to $344,713 thousand in Q3 2026 from $311,142 thousand in Q3 2025. Depreciation and amortization expense increased to $53,279 thousand from $46,195 thousand year-over-year for the quarter.

The condensed consolidated balance sheet as of September 30, 2026 reflects total assets of $2,526,007 thousand, up from $2,259,435 thousand at December 31, 2025. Goodwill increased to $421,819 thousand from $348,558 thousand over the same period. The company disclosed that cash used in investing activities for the nine months ended September 30, 2026 included $195,176 thousand for an acquisition of a business, net of cash acquired, and capital expenditures of $88,400 thousand. Proceeds from borrowings of $235,246 thousand were also reported for the nine-month period, contributing to the rise in long-term borrowings to $259,065 thousand at quarter-end.

What Was Disclosed

Expro Ltd's 10-Q for the period ended September 30, 2026 disclosed a quarterly net loss of $5,201 thousand, revenue of $439,943 thousand, elevated merger and integration costs, a material acquisition-related cash outflow, and increased long-term borrowings compared to year-end 2025.