EXPRO GROUP HOLDINGS N.V. (XPRO) FY2025 10-K Annual Report

Filed: Feb 19, 2026
Energy
Oil & Gas Field Services, NECSEC EDGAR

EXPRO GROUP HOLDINGS N.V. (XPRO) 10-K annual report for fiscal year 2025, filed with SEC EDGAR on Feb 19, 2026. This page provides AI-powered analysis including business overview, management discussion & analysis (MD&A), risk factors, and key financial data such as revenue, net income, gross margin, operating margin, and return on equity (ROE) extracted from XBRL.

EXPRO GROUP HOLDINGS N.V. FY2025 10-K Analysis

Business Overview

  • Core business model: Global oilfield services including well construction, completion, and intervention solutions
  • No new products or segments introduced or emphasized in fiscal 2026 filing
  • Increased emphasis on compliance risk related to evolving data protection/privacy regulations, including GDPR impacts
  • Regulatory compliance costs and risk of fines due to privacy laws a significant focus; data breach risk highlighted
  • Dutch corporate structure specifics detailed, including governance provisions affecting shareholder rights and takeover defenses

Management Discussion & Analysis

  • Revenue $1,607.1M for 2025, down $105.7M or 6.2% YoY from $1,712.8M in 2024, declines mainly in ESSA and APAC segments
  • Adjusted EBITDA $353.0M in 2025, up 1.6% YoY from $347.4M; margin improved to 22.0% vs 20.3% in 2024
  • Best performing segment margin: MENA with 38.8% Segment EBITDA margin (Q4 2025); worst: APAC with 16.4% margin and declining revenue
  • Operating cash flow $210.2M in 2025, up $40.7M YoY; no specifics on buybacks/dividends/capex disclosed in excerpt
  • 2026 outlook: cautious optimism with modest upstream investment recovery; Brent price forecast ~$56/bbl; growth in MENA, offshore, brownfield activity, and gas/LNG demand

Risk Factors

  • Regulatory risk from EU sustainability laws and varying US state GHG reporting rules increasing compliance costs and risk of violations
  • Geopolitical exposure to Russian war in Ukraine and Middle East conflicts disrupting oil/gas demand and market price volatility
  • Supplier concentration risk with dependence on limited third-party suppliers possibly disrupting product availability and manufacturing
  • Competitive threat from industry technological advances and risk of competitors securing patents before the company
  • Financial risk from customer credit concentration in energy industry with potential write-offs and delayed payments impacting cash flow

EXPRO GROUP HOLDINGS N.V. FY2025 Key Financial Metrics
XBRL

Revenue

$1.6B

-6.2% YoY

Net Income

$52M

-0.4% YoY

Operating Margin

5.0%

-45bp YoY

Net Margin

3.2%

+18bp YoY

ROE

3.4%

-11bp YoY

Total Assets

$2.3B

-3.2% YoY

EPS (Diluted)

$0.45

0.0% YoY

Operating Cash Flow

$210M

+24.0% YoY

Source: XBRL data from EXPRO GROUP HOLDINGS N.V. FY2025 10-K filing on SEC EDGAR. All figures in USD.

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