Team, Inc. filed its Form 10-Q for the quarterly period ended September 30, 2026 with the Securities and Exchange Commission on November 12, 2026, reporting a net loss of $11.068 million for the third quarter.

Key Highlights

  • Q3 2026 Revenue: Revenues for the three months ended September 30, 2026 were $220.369 million, compared with $224.976 million in the same period of 2025, according to the filing.
  • Net Loss: The company reported a net loss of $11.068 million for Q3 2026, versus a net loss of $11.447 million in Q3 2025.
  • Loss Per Share: Basic and diluted loss per common share was $3.10 for the three months ended September 30, 2026, compared with $2.68 in the prior-year quarter.
  • Nine-Month Net Loss: For the nine months ended September 30, 2026, the company disclosed a net loss of $29.213 million, compared with $45.431 million for the same period in 2025.
  • Shareholders' Deficit: Total shareholders' equity (deficit) stood at $(63.926) million as of September 30, 2026, compared with $(24.481) million at December 31, 2025.
  • Redeemable Preferred Stock: The company reported 75,000 shares of redeemable preferred stock issued and outstanding at September 30, 2026, with a carrying value of $60.980 million.
  • Shares Outstanding: As of November 10, 2026, the registrant had 4,609,901 shares of common stock outstanding.

Team, Inc. Financial Results for the Quarter Ended September 30, 2026

According to the filing, Team, Inc. (NYSE:TISI), a Delaware-incorporated company headquartered in Sugar Land, Texas, reported revenues of $220.369 million for the three months ended September 30, 2026, a decline from $224.976 million in the comparable prior-year period. For the nine months ended September 30, 2026, the company disclosed revenues of $664.103 million, compared with $671.657 million in the nine months ended September 30, 2025.

The filing shows an operating loss of $471 thousand for Q3 2026, compared with operating income of $1.342 million in Q3 2025. Interest expense, net, was reported at $9.809 million for the quarter, a reduction from $11.855 million in the year-ago quarter. For the nine months ended September 30, 2026, net interest expense was $27.971 million, compared with $35.187 million for the same period in 2025. The company reported no loss on debt extinguishment in the nine months ended September 30, 2026, compared with a loss of $13.136 million in the comparable 2025 period.

As of September 30, 2026, the company's total assets were $479.541 million, down from $485.453 million at December 31, 2025, the filing stated. Total liabilities increased to $482.487 million from $457.983 million over the same period. The accumulated deficit widened to $494.090 million as of September 30, 2026, compared with $464.877 million at December 31, 2025. Net loss attributable to common shareholders for the nine months ended September 30, 2026 was $38.235 million, reflecting $9.022 million in dividends and accretion to redemption value on redeemable preferred stock during that period, according to the filing.

What Was Disclosed

Team, Inc. disclosed its unaudited condensed consolidated financial results for the quarter and nine months ended September 30, 2026, covering revenues, operating losses, net losses, balance sheet positions, and shareholder equity, as a non-accelerated, smaller reporting company listed on the New York Stock Exchange.