TEAM INC
AI Executive Summary
AI-powered analysis of 10-Q filing content
Team, Inc. continues to operate with a negative shareholders' equity position that worsened from -$24.5M to -$49.7M, driven by an accumulating deficit now at $483M and rising preferred stock accretion charges. Revenue declined 7.8% YoY in Q2 2026 and operating income swung to a loss for the six-month period, while long-term debt grew ~$29M to $322.2M, signaling continued balance sheet stress despite a smaller six-month net loss versus the prior year (which was inflated by a one-time $11.9M debt extinguishment charge).
Red Flags Detected (7)
Total shareholders' equity is negative and deteriorating (-$49.7M vs -$24.5M at year-end)
Accumulated deficit grew from $464.9M to $483.0M
Long-term debt increased ~10% ($293.3M to $322.2M) while cash remains modest at $26.0M
4 more red flags detected
Key Takeaways
Company disclosed no material changes to risk factors from its 10-K, but underlying financials show clear deterioration in leverage and equity position
Six-month net loss improved YoY mainly due to absence of a one-time $11.9M debt extinguishment loss recorded in 2025, not due to operational improvement
3 more takeaways
Filing Overview
What This Means
Deteriorating Trend: Conditions are worsening compared to previous filings. This may create opportunities for service providers.
Quarterly Report: Interim filing with unaudited financial data for the quarter.