Operator
Good day, and thank you for standing by. Welcome to the NCS Multistage Q3 2025 Earnings Conference Call.
[Operator Instructions]
Please be advised that today’s conference is being recorded. I would now like to hand the conference over to your first speaker today, Mike Morrison, CFO. Please go ahead.
Michael Morrison
CFO & Treasurer
Thank you, Stephen, and thank you for joining the NCS Multistage Third Quarter 2025 Conference Call.
Our call today will be led by our CEO, Ryan Hummer, and I will also provide comments. I want to remind listeners that some of today’s comments include forward-looking statements such as our financial guidance and comments regarding our future expectations for financial results and business operations.
These statements are subject to many risks and uncertainties that could cause our actual results to differ materially from any expectation expressed herein.
Please refer to our most recent annual report on Form 10-K and our latest SEC filings for risk factors and cautions regarding forward-looking statements.
Our comments today, as well as the results of operations included in our earnings release, contain the following non-GAAP financial measures: EBITDA, adjusted EBITDA, adjusted EBITDA margin, adjusted EBITDA less share-based compensation, adjusted gross profit, adjusted gross margin, free cash flow, and free cash flow less distributions to noncontrolling interest and net working capital.
These non-GAAP measures and reconciliations to the most comparable GAAP financial measures are provided in our third quarter earnings release, which can be found on our website, ncsmultistage.com. I will now turn the call
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