Flotek Q2 Revenue Surges 70% to $99.4M, Swings to Profit, and Lands $400M Puerto Rico Power Deal
FTK has more than doubled off its 52-week low of $10.95 on elevated volume (2.9× avg).
Summary
Flotek reported Q2 revenue of $99.4M (+70% YoY) and net income of $9.95M, driven by its Data Analytics power-generation business. The company also disclosed a 10-year, ~$400M contract with Puerto Rico's electric utility, awarded after quarter-end.
Key Events · Earnings and Guidance · FTK
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Q2 Revenue +70% to $99.4M
Total revenue reached $99.4 million, up from $58.4 million a year ago, driven by a 359% surge in Data Analytics external revenue and a 70% increase in Chemistry Technologies related-party sales.
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Data Analytics Turns Profitable
The Data Analytics segment posted operating income of $10.2 million in Q2 2026, compared to a $1.9 million loss in Q2 2025, fueled by the Lease Agreement with ProFrac and the new Utility Support Contract.
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$400M Puerto Rico Power Contract Awarded
On July 31, 2026, Flotek was awarded a 10-year contract by PREPA to supply up to 40 MW of power generation capacity, with expected annual revenue of ~$40 million and a potential 10-year backlog of ~$400 million.
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Cash Burn from Working Capital Build
Despite net income of $14.6 million for H1 2026, operations used $6.6 million in cash as receivables and inventory swelled. Cash on hand fell to $4.4 million, with $10.4 million drawn on the $20 million ABL facility.
Analysis · FTK · Industrial Applications And Services
A dramatic acceleration marked Flotek's second quarter: revenue jumped 70% year-over-year to $99.4 million, operating income swung from $2.6 million to $14.9 million, and the Data Analytics segment turned profitable on the back of new power-generation contracts. The balance sheet, however, shows strain — cash used in operations was $6.6 million for the half, cash on hand fell to $4.4 million, and the ABL revolver is nearly half drawn. The real story is the July 31 award of a 10-year, ~$400 million contract with Puerto Rico's electric utility, which could transform the company's revenue base but also introduces significant execution risk. The stock is trading near its 52-week high, reflecting optimism around these developments, but the working capital build and reliance on a single related-party customer (ProFrac, 61% owner) remain key concerns.
How filings like this one have moved
In the 30 days to Oct 10, 2026, 43.5% of the 310 measured filings Wiseek scored 9 moved their stock by 5% or more by the next session's close. The median move was -0.63%. These are measured outcomes after filings of this importance, not a forecast for this one.
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At the time of this filing, FTK was trading at $36.43 on NYSE in the Industrial Applications And Services sector, with a market capitalization of approximately $1.3B. The 52-week trading range was $10.95 to $37.53. This filing was assessed with positive market sentiment and an importance score of 9 out of 10.