$CLB Core Laboratories Inc. | Understand Stock

What Do They Do?

Provides laboratory and field services that assess reservoir rocks and fluids, well-completion diagnostics, and related equipment to oil and gas companies.

How Do They Make Money?

Oil and gas clients pay for laboratory tests and field diagnostics when results or services are delivered; they pay for equipment when it ships or is picked up. Some service, software and licensing arrangements are billed over time or when delivered.

revenue

Segment	Share	Revenue	How money arrives
Service Sold outright	76% FY2022: 71%		Sold outright
Product Sold outright	24% FY2022: 29%		Sold outright

Who Are Their Customers?

Oil and gas and associated-industry clients buy laboratory, field and well-completion services and related equipment. Core sells through its own sales force, technical experts and operating managers, as well as representatives and distributors in markets without offices.

Do Revenues Turn Into Profits?

Yes. It kept 6 cents of every revenue dollar as net income in FY2025 and turned 5 cents into free cash flow.

Operating income, FY2025

11% of revenue

▼ −4% vs FY2024 ($58.6M, 11%)

Net income, FY2025

6% of revenue

▼ −6% vs FY2024 ($31.4M, 6%)

Free cash flow, FY2025

5% of revenue

▼ −42% vs FY2024 ($44.5M, 8%)

How Are They Changing?

Since the FY2025 annual report

Latest quarter: Q2 FY2026, the three months to Jun 30, 2026

Revenue: ▼ −4%; vs $130.2M in Q2 FY2025
Net income: ▼ −44%; vs $10.6M in Q2 FY2025

Service share of revenue vs 73.9% in Q2 FY2025

Growing. Revenue grew 12% in 4 years, from $470.3M in FY2021 to $526.5M in FY2025, about 3% a year.

Revenue over time

Service Product

$1B$500M$0

FY2021 FY2022 FY2023 FY2024 FY2025