NCS Multistage Holdings Inc 2024年度报告

FORM10-K (Mark One)☑ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934For the fiscal year endedDecember 31, 2024 or ☐TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934For the transition period from______to______ Commission file number:001-38071 NCS Multistage Holdings, Inc.(Exact name of registrant as specified in its charter) 46-1527455(IRS EmployerIdentification number) 19350 State Highway 249, Suite 600Houston,Texas(Address of principal executive offices) 77070(Zip Code) Registrant’s telephone number, including area code: (281)453-2222 Securities registered pursuant to Section 12(b) of the Act:Trading Symbol(s)Name of each exchange on which registered Title of each classCommon Stock, $0.01 par valueNCSMNasdaqCapital Market Securities registered pursuant to section 12(g) of the Act: None Indicate by check mark if the registrant is a well-known seasoned issuer, as defined in Rule 405 of the Securities Act.Yes☐No☑ Indicate by check mark if the registrant is not required to file reports pursuant to Section 13 or Section 15(d) of the Act.Yes☐No☑ Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the SecuritiesExchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and(2) has been subject to such filing requirements for the past 90 days.Yes☑No☐ Indicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submittedpursuant to Rule 405 of Regulation S-T (§232.405 of this chapter) during the preceding 12 months (or for such shorter period that theregistrant was required to submit such files).Yes☑No☐ Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smallerreporting company, or an emerging growth company. See the definitions of “large accelerated filer,” “accelerated filer,” “smaller reportingcompany,” and “emerging growth company” in Rule 12b-2 of the Exchange Act. Accelerated filer☐Smaller reporting company☑Emerging growth company☐ Large accelerated filer☐Non-accelerated filer☑ Table of Contents If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period forcomplying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act.☐ Indicate by check mark whether the registrant has filed a report on and attestation to its management’s assessment of the effectivenessof its internal control over financial reporting under Section 404(b) of the Sarbanes-Oxley Act (15 U.S.C.7262(b)) by the registered publicaccounting firm that prepared or issued its audit report.☐ If securities are registered pursuant to Section 12(b) of the Act, indicate by check mark whether the financial statements of theregistrant included in the filing reflect the correction of an error to previously issued financial statements.☐ Indicate by check mark whether any of those error corrections are restatements that required a recovery analysis of incentive-basedcompensation received by any of the registrant’s executive officers during the relevant recovery period pursuant to §240.10D-1(b).☐ Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Act).Yes☐No☑ As of June30, 2024, the aggregate market value of the common stock of the registrant held by non-affiliates of the registrant wasapproximately $13.3million (based on the closing sale price of the registrant’s common stock on that date). As of March 6, 2025, there were2,540,849shares of common stock outstanding. Portions of the definitive proxy statement for the registrant’s 2025Annual Meeting of Stockholders are incorporated by reference inPart III of this Form 10-K. Such proxy statement will be filed with the Securities and Exchange Commission not later than 120 days afterDecember 31, 2024. TABLE OF CONTENTS PagePART IItem 1.Business6Item 1A.Risk Factors15Item 1B.Unresolved Staff Comments44Item 1C.Cybersecurity44Item 2.Properties44Item 3.Legal Proceedings44Item 4.Mine Safety Disclosures44PART IIItem 5.Market for Registrant’s Common Equity, Related Stockholder Matters and Issuer Purchases of Equity Securities45Item 6.[Reserved]45Item 7.Management’s Discussion and Analysis of Financial Condition and Results of Operations46Item 7A.Quantitative and Qualitative Disclosures About Market Risk59Item 8.Financial Statements and Supplementary Data60Item 9.Changes in and Disagreements With Accountants on Accounting and Financial Disclosure93Item 9A.Controls and Procedures93Item 9B.Other Information93Item 9C.Disclosure Regarding Foreign Jurisdictions that Prevent Inspections93PART IIIItem 10.Directors, Executive Officers and Corporate Governance94Item 11.Executive Compensation94Ite