TETRA Technologies (TTI) 27th Annual Needham Growth Conference summary

Strategic direction and market expansion

• Leveraging core expertise in aqueous chemistry and mineral-rich acreage to expand into high-growth, low-carbon energy markets, including deepwater, unconventional oil and gas, and energy storage.

• Focused on key geographies: U.S. unconventionals, Argentina, Middle East, Gulf of Mexico, Brazil, North Sea, and West Africa.

• Entering critical minerals industry by extracting bromine and lithium from Arkansas acreage and produced water.

• Advancing water management with produced water desalination for beneficial reuse in industrial and agricultural applications.

• Automation and technology adoption in water and flowback services to enhance margins and operational efficiency.

Financial performance and outlook

• Trailing 12 months revenue at $618 million and EBITDA at $101 million; 2024 revenue consensus at $603 million, 2025 at $676 million.

• Projected 12% revenue and 28% EBITDA growth year-over-year for 2025, driven by deepwater projects, battery storage, and industrial chemicals.

• Free cash flow expected at $50–$60 million per year over the next two years, with a strong balance sheet and $200 million liquidity.

• No plans to issue equity; project funding to come from operations and existing liquidity.

• Significant tax loss carryforwards to offset future taxable income and enhance cash flow.

Project milestones and technology highlights

• Secured multi-year deepwater completion fluids project in Brazil starting 1H 2025 and Neptune project in Gulf of Mexico.

• Delivered first full electrolyte for Eos Energy, expanding from zinc bromide supply to full electrolyte contract.

• Introduced TETRA Oasis water desalination solution, achieving pilot and commercial status, and passing WET test in the Permian Basin.

• Launched TETRA X corrosion inhibitor with 35x improvement for high-temperature downhole environments.

• Automation initiatives (BlueLinx, Automated SandStorm, automated drill-out) reducing personnel and costs in water and flowback services.