Team, Inc. filings document a specialty industrial services issuer with NYSE-listed common stock and disclosure focused on operating results, governance and capital structure. Form 8-K reports furnish quarterly financial results and describe material events, including executive separation arrangements, board appointments, committee assignments and changes in director compensation.
TEAM’s regulatory record also includes definitive proxy materials covering annual meeting matters, director elections, executive compensation and pay-versus-performance tables. Capital-structure filings describe material definitive agreements, Series B Preferred Stock, warrants to purchase common stock and related shareholder-agreement terms tied to the company’s financing activity.
Team, Inc. reported first-quarter 2026 revenue of $215.1 million, up 8.3% from $198.7 million a year earlier, driven by higher turnaround and project work in both Inspection and Heat-Treating (IHT) and Mechanical Services (MS).
Net loss narrowed to $11.3 million from $29.7 million, as operating loss improved to $3.4 million and interest expense declined after a 2025 refinancing. Adjusted EBITDA rose to $7.7 million from $5.3 million, though free cash flow remained negative at -$11.5 million.
Cash and cash equivalents were $12.8 million at March 31, 2026, against total debt and finance obligations of $306.5 million and a shareholders’ deficit of $39.4 million. The company had about $40.5 million of borrowing availability and additional potential liquidity from Series B preferred stock delayed draws.
TEAM, Inc. reported a stronger first quarter of 2026, with revenue rising 8.3% to $215.1 million, driven by growth in both Inspection & Heat-Treating and Mechanical Services. Gross margin increased to $50.2 million, or 23.3% of revenue.
The company still posted a net loss of $11.3 million, but this was a substantial improvement from a $29.7 million loss a year earlier. Net loss attributable to common shareholders was $14.2 million, or $3.12 per share, helped by lower interest expense and the absence of prior-year debt extinguishment charges.
Adjusted EBITDA rose 45.2% to $7.7 million (3.6% margin), while adjusted SG&A fell to 21.2% of revenue. Liquidity at March 31, 2026 totaled $49.2 million, and total debt was $306.5 million, resulting in net debt of $293.7 million. For 2026, management guides to revenue of $920–$945 million, gross margin of $240–$260 million, and Adjusted EBITDA of $68–$73 million, implying mid‑single‑digit revenue growth and mid‑teens Adjusted EBITDA growth versus 2025.
Team, Inc. is asking shareholders at its May 20, 2026 annual meeting to vote on five key items, including electing three Class I directors and an advisory approval of named executive officer pay. Shareholders are also asked to ratify KPMG LLP as auditor for 2026.
A major proposal seeks approval of the Stellex Warrant Shares Issuance Proposal, tied to a September 2025 financing in which Stellex received Series B Preferred Stock and long‑dated warrants that can adjust in price under anti‑dilution provisions, subject to NYSE shareholder‑approval rules. Failure to approve would increase the Series B Preferred return rate by 1 percentage point.
The company further requests approval of an amendment to its 2018 Equity Incentive Plan to add 250,000 shares for future equity awards, citing equity compensation as a core tool for retaining executives and aligning them with shareholders. As of April 1, 2026, 4,571,382 common shares were outstanding, with an average three‑year equity burn rate of 5.48% and total overhang projected at 16.4% if the amendment is approved.
Team Inc director Evan S. Lederman made an open-market purchase of 1,000 shares of common stock at $16.19 per share on March 30, 2026. After this transaction, he directly owned 5,978 shares, indicating a modest increase in his personal stake in the company.
Team Inc director Anthony R. Horton reported buying additional common stock in two March transactions. He purchased 10,000 shares on March 20, 2026 at $14.44 per share and 3,000 shares on March 30, 2026 at $16.19 per share in open‑market trades.
Following these buys, he directly owns 22,082 shares of Team Inc common stock.
TEAM INC director Edward J. Stenger reported open-market purchases of 5,000 shares of common stock across two days. He bought 1,417 shares at a weighted average price of $15.21 per share on March 23 and 3,583 shares at $16.31 per share on March 24. Following these transactions, he directly owns 14,890 TEAM INC shares. Footnotes state each day’s price is a weighted average for multiple trades within intraday ranges.
Team, Inc. invites shareholders to its 2026 Annual Meeting on May 20, 2026 at 8:00 a.m. Central at the company headquarters. The Record Date for voting is April 1, 2026; 4,571,382 shares of Common Stock were outstanding as of the Record Date.
Shareholders will vote on five proposals including the election of three Class I directors, an advisory say-on-pay vote, ratification of KPMG as auditor, the Stellex Warrant Shares Issuance Proposal related to warrants and preferred-stock financing entered on September 11, 2025, and approval of a 250,000-share increase to the 2018 Equity Incentive Plan. The Stellex proposal seeks NYSE Rule 312.03(c) approval because the number of shares issuable upon exercise of the warrants exceeds 20% of outstanding shares at signing.
Team, Inc. operates as a global provider of specialty industrial services, focusing on inspection, heat-treating and mechanical repair that help large industrial customers keep critical assets safe, reliable and efficient. The company reports two segments: Inspection and Heat-Treating (IHT) and Mechanical Services (MS).
Team serves energy, manufacturing, midstream, infrastructure, and aerospace and defense customers through turnaround, call-out and run-and-maintain work. It emphasizes safety programs, technician training and ESG initiatives, and averaged about 5,300 employees in 2025.
The filing highlights significant leverage and covenant risks tied to multiple credit facilities and Series B Preferred Stock, as well as ownership concentration, intense competition, cyclicality in refinery and petrochemical markets, cybersecurity exposure and evolving ESG and climate-related regulation. In 2025 the company refinanced term loans and raised $75.0 million via Series B Preferred Stock and warrants to support liquidity and debt repayment.
TEAM, Inc. reported modest growth with ongoing losses for 2025. Revenue reached $896.5 million, up 5.2% from 2024, while consolidated Adjusted EBITDA rose 11.9% to $60.7 million or 6.8% of revenue, reflecting cost cuts and better job mix.
The company still recorded a net loss of $49.2 million, including a $13.1 million loss on debt extinguishment, and net loss attributable to common shareholders of $52.7 million or $11.70 per share. Fourth quarter revenue grew 5.4% to $224.8 million and the quarterly net loss improved to $3.8 million.
Liquidity at December 31, 2025 was $77.4 million, with $14.1 million in cash and $63.4 million of undrawn credit, while total debt decreased to $297.2 million from $325.1 million. New CEO Gary Hill emphasized growth, margin improvement and cash generation, but the company will provide 2026 guidance only after first-quarter results.
Barclays PLC has filed an amended beneficial ownership report showing it holds 313,458 shares of INC common stock, representing 6.92% of the class as of December 31, 2025. Barclays has sole voting and dispositive power over these shares and reports holding them in the ordinary course of business, not to influence control of the company.