Expro Group Holdings N.v. · NYSE:XPRO
Expro — Q3 2026 Earnings Presentation
21 slides from Expro's earnings presentation, Nov 3, 2026
Slide 1: Q3 2026 Highlights
Expro Ltd Q3 2026 Highlights Copyright 2026 Expro®. All rights reserved.
Slide 2: Disclaimer
Disclaimer This presentation contains forward-looking statements within the meaning of Section 27A of the Securities Act and Section 21E of the Securities Exchange Act of 1934. All statements, other than statements of historical facts, included in this presentation that address activities, events or
Slide 3: Q3 2026 Highlights
Q3 2026 | Highlights Revenue Adjusted Free Cash Flow Q3 2026 results – sizeable $440m $52m increase sequentially + $47m Q/Q - $4m Q/Q Adjusted EBITDA Liquidity at Strong free cash flow generation maintained $91m $260m + $15m Q/Q Includes ~$170m in cash Continue to execute returning cash to Adjusted
Slide 4: 2026 Outlook | Guidance
2026 Outlook | Guidance 2026 Q4 ($m) 2026 Full Year ($m) Revenue $465 - $485 $1,660 - $1,680 Adjusted EBITDA $100 - $110 $330 - $340 Capital Expenditures - $110 - $115 Adjusted Free Cash Flow - $140 - $150 Shareholder Returns At least 1/3 of Adjusted Free Cash Flow Copyright 2026 Expro®. All rights
Slide 5: Customer and Technology Highlights
Customer and Technology Highlights Expro’s Articulock® gains iTONG wins Gulf Energy Information Expro launches Maestro® traction Excellence Award for automation Maestro® is a modular well-test platform Expro’s Articulock® gained traction across Expro’s iTONG won Best Controls, designed to support sa
Slide 6: AMENA Region – Combining MENA and APAC Regions
AMENA Region –Combining MENA and APAC Regions • Optimize and increase efficiency of operating structure • Utilize economies of scale – provide additional support to Asia from management, operational and technical capabilities North and Latin America Europe and Sub-Saharan Africa Asia, Middle East &
Slide 7: Expect Adjusted EBITDA Margins to Expand Further
Expect Adjusted EBITDA Margins to Expand Further Near-Term(1) Cost structure efficiencies Increase customer wallet share Internationalize acquisitions and technologies >25% Long-Term 22% Increase top-line revenue Continue to: Gain customer wallet share Internationalize acquisitions and technologies
Slide 8: Index Comparison – EBITDA & FCF
Index Comparison – EBITDA & FCF 1 EBITDA FCF 500% 800% Top 3rd OFS S&P600 Avg. XPRO 400% 600% Large Cap OFS Avg. Top 3rd OFS S&P600 Avg. 400% 300% SP600 OFS Avg. 200% Mid 3rd OFS S&P600 Avg. XPRO SP600 OFS Avg. 200% 0% Large Cap OFS Avg. Mid 3rd OFS S&P600 Avg. 2022 2023 2024 2025 2026E -200% 100% B
Slide 9: Strong Balance Sheet Allows Expro Financial Flexibility to Execute
Strong Balance Sheet Allows Expro Financial Flexibility to Execute Liquidity ($m) Debt Maturities ($m) $450 September 30, 2026 Availability $87 Revolving Credit Facility $450 LC’s & bonds $104 (-) Drawn portion $259 (-) Letters of credit & bonds $104 Drawn $259 (+) Cash & Cash Equivalents $172 Total
Slide 10: Robust and Disciplined Capital Allocation Framework
Robust and Disciplined Capital Allocation Framework Invest in projects that generate superior returns through the lifecycle Balanced Capital Allocation Framework INVEST IN BUSINESS Maintain strong balance sheet Fund organic growth investments Committed to keeping total capex (maintenance and growth)
Slide 11: Appendix: Our ESG report
Investors.Expro.com Downloadable Financials Appendix: Our ESG report To learn even more about Expro, check out these additional places Follow us on to get in touch with us. Connect with us on Subscribe to our channel Copyright 2026 Expro®. All rights reserved.
Slide 12: North and Latin America (NLA)
North and Latin America (NLA) Regional Highlights | Q3 North & Latin America NLA Revenue Key Highlights $155m Revenue was $155 million, an increase of $26 million, or 20%, primarily driven by the Enhanced Drilling acquisition, higher well construction revenue in the U.S., Brazil and Suriname, higher
Slide 13: Europe & Sub-Saharan Africa (ESSA)
Europe & Sub-Saharan Africa (ESSA) Regional Highlights | Q3 Europe & Sub-Saharan Africa ESSA Revenue Key Highlights $149m Revenue was $149 million, an increase of $22 million, or 17%, primarily attributable to the Enhanced Drilling acquisition, higher well construction management activities in Ivory
Slide 14: Asia, Middle East & North Africa (AMENA)
Asia, Middle East & North Africa (AMENA) Regional Highlights | Q3 Asia, Middle East & North Africa AMENA Revenue Key Highlights $136m Revenue was $136 million, a decrease of $1 million, or 1%, primarily attributable to lower well flow management revenue in Saudi Arabia and reduced subsea access acti
Slide 15: Middle East & North Africa (MENA) & Asia Pacific (APAC)
Middle East & North Africa (MENA) & Asia Pacific (APAC) Regional Highlights | Q3 Middle East & North Africa Asia Pacific MENA Revenue APAC Revenue $87m 11% $49m -3% Q/Q 4% Q/Q 1% YoY YoY 20% MENA Segment EBITDA1 APAC Segment EBITDA1 $29m $12m -12% Q/Q 47% Q/Q -3% YoY 25% YoY MENA Seg
Slide 16: Revenue by Region and Area of Capability
Revenue by Region and Area of Capability Well Intervention Asia, Middle $65 Well & Integrity East North Intervention & Africa North & Integrity (AMENA) Latin America Well (NLA) Construction Asia Middle East North Subsea Well Africa North & Latin America Access $187 (AMENA) Q3 2026 Q3 2026 (NLA) $42
Slide 17: Return of Capital to Shareholders
Return of Capital to Shareholders Share repurchases ($m) Create long-term value to Shareholders Cumulative since 2024 $106 Preference to share repurchase program Repurchase shares throughout the year opportunistically $52 An important component of capital allocation framework Complimentary to other
Slide 18: Non-GAAP Reconciliations
Non-GAAP Reconciliations ($ in millions) Three Months Ended Q2 24 Q3 24 Q4 24 Q1 25 Q2 25 Q3 25 Q4 25 Q1 26 Q2 26 Q3 26 Adjusted EBITDA1 $ 95 $ 85 $ 100 $ 76 $ 94 $ 94 $ 88 $ 63 $ 76 $ 91 Depreciation, amortization and impairment expenses (41) (40) (42) (45) (47) (46) (54) (45) (46) (52) Severance a
Slide 19: Non-GAAP Reconciliations (continued)
Non-GAAP Reconciliations (continued) ($ in millions) Three Months Ended Q2 24 Q3 24 Q4 24 Q1 25 Q2 25 Q3 25 Q4 25 Q1 26 Q2 26 Q3 26 Net cash provided by (used in) operating $ (13) $ 55 $ 97 $ 42 $ 48 $ 63 $ 57 $ 25 $ 81 $ 65 activities Less: Capital expenditures (36) (32) (44) (33) (21) (24) (34) (2
Slide 20: Non-GAAP Reconciliations (continued)
Non-GAAP Reconciliations (continued) Reconciliation of Adjusted Net Income (Loss) ($ in millions, except per share amounts) Three Months Ended Q2 24 Q3 24 Q4 24 Q1 25 Q2 25 Q3 25 Q4 25 Q1 26 Q2 26 Q3 26 Net Income (loss) $ 15 $ 16 $ 23 $ 14 $ 18 $ 14 $ 6 $ (1) $ 2 $ (4) Adjustments: Merger and integ
Slide 21: Non-GAAP Reconciliations (continued)
Non-GAAP Reconciliations (continued) Three Months Ended ($ in millions) Q2 24 Q3 24 Q4 24 Q1 25 Q2 25 Q3 25 Q4 25 Q1 26 Q2 26 Q3 26 Total revenue $470 $423 $437 $391 $423 $411 $382 $368 $393 $440 Less: Cost of revenue, excluding depreciation and amortization (367) (331) (327) (305) (320) (311) (287)