Team Inc. reported its financial results for the first quarter of 2025, indicating a net loss of $29.7 million, compared to a net loss of $17.2 million in the same period of 2024. This loss translates to $6.61 per share, showing a significant decline from the $3.89 per share loss recorded in the first quarter of the previous year. The company's revenue for the first quarter totaled $198.7 million, remaining essentially flat compared to the prior year period. The consolidated Adjusted EBITDA was $5.3 million, representing 2.7% of consolidated revenue, down from $6.5 million or 3.3% of consolidated revenue in the previous year. Notable growth was observed in the Inspection and Heat Treating segment, which saw a 39% year-over-year improvement in Adjusted EBITDA. This was driven by a nearly 22% increase in higher margin heat treating services and a 64% rise in revenue from the laboratory, testing, and inspection services facility in Cincinnati. In March, Team Inc. completed a refinancing transaction to reduce its blended cost of capital and extend its term debt maturities to 2030. The company also initiated the next phase of its optimization program to enhance workforce utilization and reduce costs.