HMH Holding (HMH) investor relations material

Company overview and business model

• Leading provider of engineered drilling equipment, services, and systems for oil, gas, and mining sectors, with a global footprint in 15 countries and sales in over 80 countries.

• Business segments include sales of projects/products (15.6% of H1 2026 revenue), aftermarket services (47.1%), and spare parts (37.3%).

• Asset-light model leverages established brands (Hydril, VetcoGray, Wirth, Maritime Hydraulics) and focuses on recurring revenue from installed base, especially offshore.

• Expanding into adjacent markets such as mining and digital solutions, with a strong focus on R&D and digitalization.

Financial performance and metrics

• H1 2026 revenue: $342.1M (down 14.9% YoY), with $53.4M from projects/products, $161.1M from services, $127.7M from spare parts.

• FY 2025 revenue: $821.8M (down 2.6% YoY); net income $46.1M; Adjusted EBITDA $156.2M (19.0% margin).

• Cost of sales in H1 2026 decreased 22.9% YoY; cost optimization and improved margin mix noted.

• Cash and cash equivalents as of June 30, 2026: $119.7M; total indebtedness: $197.8M; capital expenditures for H1 2026: $8.8M.

Use of proceeds and capital allocation

• No proceeds to the company from the resale of shares by selling stockholders; all proceeds go to selling stockholders.

• IPO proceeds previously used to repay shareholder loans, fund operations, and support growth initiatives.

• Capital allocation focused on maintaining a conservative leverage profile and supporting organic/inorganic growth.