Flotek Industries, Inc. (NYSE:FTK) Q2 2023 Earnings Call Transcript

So we’re really excited about JP3. And when you look at what JP3 and chemistry do together, we see not only applications in domestically in North America land, but we see significant applications for these internationally for both units and then particularly even offshore for our chemistry. So it’s really exciting about what synergies being created between data and chemistry alone because data is the monitoring of the actual chemistry at the well site.

Don Crist: Right. It’s – that’s very exciting going forward. And Bond, if I can ask just one more of you as well, obviously there was some moving parts in G&A this quarter. Are you still pretty confident that you can get it close to that $5 million a quarter run rate or below by year-end?

Bond Clement: Yes. We’re working hard. That’s the goal internally, we just – we had a few items that we mentioned here, some higher legal costs. We’re trying to get the – this litigation wrapped up. We were able to knock out two of the three components. We have one piece left. We’ve got the CEO transition cost behind us. So yes, I mean, Don, that’s the goal internally and that’s what we’re working towards.

Don Crist: I’m looking forward to seeing positive EBITDA going forward. I appreciate it, guys. Good color. Thanks.

Bond Clement: Okay. See you.

Operator: This concludes our question-and-answer session. I would like to turn the conference back over to Larry Busnardo for any closing remarks.

Larry Busnardo: Thank you again for joining us today. I would like to remind you that Flotek CEO, Ryan Ezell will be presenting next Tuesday, August 15 at EnerCom Denver, The Energy Investment Conference in Denver at 8:50 a.m. Mountain Time. He’ll be joined by CFO, Bond Clement in hosting meetings with investors throughout the day. A copy of the presentation that will be posted to the website – a copy of the presentation will be posted to the website prior to the start of the presentation. Dr. Ezell will also be participating in a service industry panel discussion at the same conference on August 16 at 9:50 a.m. Both events will be webcast. We look forward to seeing many of you next week. Thank you again for joining us today. Please feel free to contact the company if you have any additional questions. Have a good day.

Operator: The conference has now concluded. Thank you for attending today’s presentation. You may now disconnect.