Form 8-K

8-K — FORUM ENERGY TECHNOLOGIES, INC.

Accession: 0001401257-26-000030

Filed: 2026-05-01

Period: 2026-04-30

CIK: 0001401257

SIC: 3533 (OIL & GAS FILED MACHINERY & EQUIPMENT)

Item: Results of Operations and Financial Condition

Item: Financial Statements and Exhibits

Documents

8-K — fet-20260430.htm (Primary)

EX-99.1 (exhibit991-fetearningsrele.htm)

GRAPHIC (image.jpg)

XML — IDEA: XBRL DOCUMENT (R1.htm)

8-K

8-K (Primary)

Filename: fet-20260430.htm · Sequence: 1

fet-20260430

0001401257falseCommon Stock, par value $0.01 per shareFETCHX00014012572026-04-302026-04-300001401257fet:Exch_XNYSMember2026-04-302026-04-300001401257fet:Exch_XCHIMember2026-04-302026-04-30

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

___________________________________

FORM 8-K

___________________________________

CURRENT REPORT

Pursuant to Section 13 or 15(d) of the

Securities Exchange Act of 1934

Date of Report (Date of earliest event reported): April 30, 2026

FORUM ENERGY TECHNOLOGIES, INC.

(Exact name of registrant as specified in its charter)

Delaware

001-35504

61-1488595

(State or other jurisdiction of

incorporation or organization)

(Commission

File Number)

(I.R.S. Employer

Identification No.)

10344 Sam Houston Park Drive Suite 300 Houston TX 77064

(Address of Principal Executive Offices) (Zip Code)

281 949-2500

Registrant's telephone number, including area code

Not Applicable

(Former name or former address, if changed since last report)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

☐ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

☐ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

☐ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

☐ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Act:

Title of each class

Trading Symbol

Name of each exchange on which registered

Common Stock, par value $0.01 per share

FET

New York Stock Exchange

NYSE Texas, Inc.

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).

Emerging growth company ☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. o

Item 2.02 Results of Operations and Financial Condition.

On April 30, 2026, Forum Energy Technologies, Inc. (the “Company”) issued a press release announcing earnings for the quarter ended March 31, 2026. A copy of the release is furnished herewith as Exhibit 99.1 and incorporated herein by reference.

Exhibit 99.1 to this report contains “non-GAAP financial measures” as defined in Item 10 of Regulation S-K of the Securities Exchange Act of 1934, as amended (the “Exchange Act”). The non-GAAP financial measures reflect earnings before interest, taxes, depreciation and amortization expense (“EBITDA”), adjusted EBITDA, adjusted operating income, adjusted net income, adjusted net income per diluted share (“Adjusted Diluted EPS”), book to bill ratio, free cash flow before acquisitions (“free cash flow”) and net leverage ratio. A reconciliation of EBITDA, adjusted EBITDA, adjusted operating income, adjusted net income, Adjusted Diluted EPS, book to bill ratio and free cash flow to the most directly comparable financial measures calculated and presented in accordance with Generally Accepted Accounting Principles in the United States (“GAAP”) is included as an attachment to the press release. The Company believes the presentation of EBITDA, adjusted EBITDA, adjusted operating income, adjusted net income, Adjusted Diluted EPS, book to bill ratio, free cash flow and net leverage ratio are useful to the Company's investors because (i) each of these financial metrics are useful to investors to assess and understand operating performance, especially when comparing those results with previous and subsequent periods or forecasting performance for future periods, primarily because management views the excluded items to be outside of normal operating results and (ii) EBITDA is an appropriate measure of evaluating operating performance and liquidity that reflects the resources available for strategic opportunities including, among others, investing in the business, strengthening the balance sheet, repurchasing securities and making strategic acquisitions. In addition, these benchmarks are widely used in the investment community.

The presentation of this additional information is not meant to be considered in isolation or as a substitute for the Company's financial results prepared in accordance with GAAP.

The information contained in this Current Report shall not be deemed to be “filed” for purposes of Section 18 of the Exchange Act or otherwise subject to the liabilities of that section, nor shall it be incorporated by reference into a filing under the Securities Act of 1933, or the Exchange Act, except as shall be expressly set forth by specific reference in such filing.

Item 9.01 Financial Statements and Exhibits.

(d) Exhibits.

Exhibit No. Exhibit Title or Description

99.1

Press Release dated April 30, 2026.

104 Cover Page Interactive Data File - the cover page XBRL tags are embedded within the Inline XBRL document.

SIGNATURE

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

Date: April 30, 2026

FORUM ENERGY TECHNOLOGIES, INC.

/s/ John C. Ivascu

John C. Ivascu

Executive Vice President, General Counsel, Chief Compliance Officer and Corporate Secretary

EX-99.1

Filename: exhibit991-fetearningsrele.htm · Sequence: 2

Document

Exhibit 99.1

Forum Energy Technologies Announces

First Quarter 2026 Results;

Raises Full Year 2026 Adjusted EBITDA Guidance

•Orders: $221 million, book-to-bill ratio of 106%

•Revenue: $209 million

•Net income and adjusted net income: $4 million and $6 million

•Adjusted EBITDA: $23 million

•Share repurchases: $5 million returned to shareholders

•2026 adjusted EBITDA guidance increased: $95 - $110 million

HOUSTON, TEXAS, April 30, 2026 - Forum Energy Technologies, Inc. (NYSE: FET) today announced first quarter 2026 revenue of $209 million and net income of $4 million or $0.39 per diluted share. Adjusting for restructuring costs, net income was $6 million or approximately $0.47 per diluted share.1

Neal Lux, President and Chief Executive Officer, remarked, “FET’s first quarter results continued our momentum from 2025, with revenue and adjusted EBITDA growing 8% and 14% year-over-year. We received strong orders for our differentiated products and increased our backlog 44% compared to the first quarter 2025. The execution of our “Beat the Market” strategy continues to yield share gains.

“The conflict in the Middle East has produced significant hardships for the region. Thankfully, our employees remain safe and we experienced minimal impact to our financial results. Longer term, we expect elevated commodity prices and increased upstream spending to drive demand for FET’s innovative products and technology. The combination of market expansion and our “Beat the Market” strategy’s results provide additional confidence we will achieve our long-term FET 2030 goals.

“In the near term, we expect second quarter results to increase substantially, with adjusted EBITDA between $24 and $30 million. This performance will be driven by backlog conversion, cost savings, and market share gains. While we are seeing signs of increased industry activity, our current forecast conservatively assumes a flat market. However, with a strong start to the year, we are raising the mid-point of our full year 2026 adjusted EBITDA guidance range to $103 million, a 20% percent increase over 2025 results.”

1 See Tables 1-5 for a reconciliation of GAAP to non-GAAP financial information, including a breakdown of adjusting items.

Segment Results (unless otherwise noted, comparisons are first quarter 2026 versus fourth quarter 2025)

Drilling and Completions segment revenue was $127 million, comparable to the previous quarter. Adjusted EBITDA of $13 million increased 6%, benefiting from cost savings initiatives and improved plant utilization related to facilities consolidation. Book-to-bill was 107%, due to higher demand for capital equipment in both the Stimulation and Intervention and the Drilling product lines, and increased demand for wireline cables. Drilling and Completions provides consumable products and capital equipment for drilling, subsea, coiled tubing, wireline, and stimulation markets.

Artificial Lift and Downhole segment revenue was $82 million, a 9% increase, due to increased volumes across all product lines. Adjusted EBITDA of $17 million was relatively flat due primarily to unfavorable product mix. Book-to-bill was 104%, primarily due to an increase in valve product demand. Artificial Lift and Downhole engineers, manufactures, and supplies products for well construction, artificial lift, and oil and natural gas processing.

Earnings Conference Call

FET will host its first quarter 2026 earnings conference call at 10:00 a.m. Central Time on Friday, May 1, 2026. The call will be webcast through the Investor Relations link on FET’s website at https://ir.f-e-t.com. Participants may also join the call by registering at https://register-conf.media-server.com/register/BI0550f13ec9dd4976b8fc81aeff11d6be. A replay of the call will be available on the Investor Relations website after the completion of the call at approximately 5:00 p.m. Central Time.

FET is a global manufacturing company, serving the oil, natural gas, defense, and renewable energy industries. With headquarters located in Houston, Texas, FET provides value added solutions aimed at improving the safety, efficiency, and environmental impact of our customers' operations. For more information, please visit www.f-e-t.com.

Non-GAAP Financial Measures

The Company presents its financial results in accordance with GAAP. However, management believes that non-GAAP measures are useful tools for evaluating the Company's overall financial performance. Not all companies define these measures in the same way. In addition, these non-GAAP financial measures are not a substitute for those prepared in accordance with GAAP and should, therefore, be considered only as a supplement. Please see the attached schedules for reconciliations between GAAP and the non-GAAP financial measures used in this press release. The company is unable to provide a reconciliation of forward-looking adjusted net income and adjusted EBITDA to GAAP net income because items that impact GAAP net income, such as restructuring charges, transaction expenses, and foreign exchange losses (gains), cannot be reasonably predicted.

Forward Looking Statements and Other Legal Disclosure

This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. All statements, other than statements of historical facts, included in this press release that address activities, events or developments that the Company expects, believes or anticipates will or may occur in the future are forward-looking statements. Without limiting the generality of the foregoing, forward-looking statements contained in this press release specifically include the expectations of plans, strategies, objectives and anticipated financial and operating results of the Company, including any statement about the Company's outlook, future financial position, liquidity and capital resources, operations, performance, cash flow, acquisitions, returns, capital expenditure budgets, new product development activities, strategic investments, share repurchases, costs and other guidance included in this press release.

These statements are based on certain assumptions made by the Company based on management's experience and perception of historical trends, current conditions, anticipated future developments and other factors believed to be appropriate. Such statements are subject to a number of assumptions, risks and uncertainties, many of which are beyond the control of the Company, which may cause actual results to differ materially from those implied or expressed by the forward-looking statements. Among other things, these include the volatility of oil and natural gas prices, oilfield development activity levels, the availability of raw materials and specialized equipment, the Company's ability to deliver backlog in a timely fashion, the availability of skilled and qualified labor, competition in the oil and natural gas industry, governmental regulation and taxation of the oil and natural gas industry, the Company's ability to implement new technologies and services, the availability and terms of capital, and uncertainties regarding environmental regulations or litigation and other legal or regulatory developments affecting the Company's business, and other important factors that could cause actual results to differ materially from those projected as described in the Company's filings with the U.S. Securities and Exchange Commission.

Any forward-looking statement speaks only as of the date on which such statement is made and the Company undertakes no obligation to correct or update any forward-looking statement, whether as a result of new information, future events or otherwise, except as required by applicable law.

Company Contact

Rob Kukla

Director of Investor Relations

281.994.3763

rob.kukla@f-e-t.com

Forum Energy Technologies, Inc.

Condensed consolidated statements of income (income)

(Unaudited)

Three months ended

March 31, December 31,

(in thousands, except per share information) 2026 2025 2025

Revenue $ 208,700 $ 193,279 $ 202,200

Cost of sales 147,709 134,918 141,118

Gross profit 60,991 58,361 61,082

Operating expenses

Selling, general and administrative expenses 50,008 49,383 48,888

Transaction expenses 148 51 57

Loss on disposal of assets and other (170) 123 (627)

Total operating expenses 49,986 49,557 48,318

Operating income 11,005 8,804 12,764

Other expense (income)

Interest expense 4,141 4,983 4,258

Foreign exchange losses (gains) and other, net (523) (1,068) 247

Total other expense 3,618 3,915 4,505

Income before taxes 7,387 4,889 8,259

Income tax expense 2,895 3,767 6,187

Net income $ 4,492 $ 1,122 $ 2,072

Weighted average shares outstanding

Basic 11,214 12,303 11,209

Diluted 11,641 12,568 12,085

Earnings per share

Basic $ 0.40 $ 0.09 $ 0.18

Diluted $ 0.39 $ 0.09 $ 0.17

(1) Refer to Table 1 for schedule of adjusting items.

Forum Energy Technologies, Inc.

Condensed consolidated balance sheets

(Unaudited)

March 31, December 31,

(in thousands of dollars) 2026 2025

Assets

Current assets

Cash and cash equivalents $ 37,488 $ 34,661

Accounts receivable—trade, net 155,480 142,396

Inventories, net 236,412 239,420

Other current assets 34,936 32,407

Total current assets 464,316 448,884

Property and equipment, net of accumulated depreciation 49,590 51,905

Operating lease assets 83,217 80,733

Goodwill and other intangible assets, net 151,741 158,304

Other long-term assets 14,201 12,629

Total assets $ 763,065 $ 752,455

Liabilities and equity

Current liabilities

Current portion of long-term debt $ 1,383 $ 1,407

Other current liabilities 207,229 205,127

Total current liabilities 208,612 206,534

Long-term debt, net of current portion 152,337 134,521

Other long-term liabilities 121,433 120,257

Total liabilities 482,382 461,312

Total equity 280,683 291,143

Total liabilities and equity $ 763,065 $ 752,455

Forum Energy Technologies, Inc.

Condensed consolidated cash flow information

(Unaudited)

Three months ended March 31,

(in thousands of dollars) 2026 2025

Cash flows from operating activities

Net income $ 4,492 $ 1,122

Depreciation and amortization 7,802 8,975

Inventory write-down 397 390

Other noncash items and changes in working capital (11,064) (1,161)

Net cash provided by operating activities 1,627 9,326

Cash flows from investing activities

Capital expenditures for property and equipment (256) (2,110)

Proceeds from sale of property and equipment 3 14

Net cash used in investing activities (253) (2,096)

Cash flows from financing activities

Borrowings of debt 137,934 132,038

Repayments of debt (120,580) (149,040)

Repurchases of stock (4,569) (1,997)

Payment of withheld taxes on stock-based compensation plans (9,274) (1,321)

Deferred financing costs (1,659) (693)

Net cash provided by (used in) financing activities 1,852 (21,013)

Effect of exchange rate changes on cash (399) 265

Net increase (decrease) in cash, cash equivalents and restricted cash $ 2,827 $ (13,518)

Forum Energy Technologies, Inc.

Supplemental schedule - Segment information

(Unaudited)

As Reported

As Adjusted (3)

Three months ended Three months ended

(in thousands of dollars) March 31, 2026 March 31, 2025 December 31, 2025 March 31, 2026 March 31, 2025 December 31, 2025

Revenue

Drilling and Completions $ 126,739 $ 115,569 $ 126,916 $ 126,739 $ 115,569 $ 126,916

Artificial Lift and Downhole 82,098 77,796 75,461 82,098 77,796 75,461

Eliminations (137) (86) (177) (137) (86) (177)

Total revenue $ 208,700 $ 193,279 $ 202,200 $ 208,700 $ 193,279 $ 202,200

Operating income (loss)

Drilling and Completions $ 8,909 $ 9,379 $ 9,736 $ 10,081 $ 9,801 $ 9,268

Operating Margin % 7.0 % 8.1 % 7.7 % 8.0 % 8.5 % 7.3 %

Artificial Lift and Downhole 11,584 7,297 11,708 11,593 7,458 11,851

Operating Margin % 14.1 % 9.4 % 15.5 % 14.1 % 9.6 % 15.7 %

Corporate (9,510) (7,698) (9,250) (9,055) (7,570) (8,838)

Total segment operating income (loss) 10,983 8,978 12,194 12,619 9,689 12,281

Other items not in segment operating income (loss) (1)

22 (174) 570 (64) (123) (14)

Total operating income (loss) $ 11,005 $ 8,804 $ 12,764 $ 12,555 $ 9,566 $ 12,267

Operating Margin % 5.3 % 4.6 % 6.3 % 6.0 % 4.9 % 6.1 %

EBITDA (2)

Drilling and Completions $ 12,170 $ 13,304 $ 12,984 $ 12,807 $ 12,409 $ 12,050

EBITDA Margin % 9.6 % 11.5 % 10.2 % 10.1 % 10.7 % 9.5 %

Artificial Lift and Downhole 15,943 12,725 15,961 16,619 13,492 16,902

EBITDA Margin % 19.4 % 16.4 % 21.2 % 20.2 % 17.3 % 22.4 %

Corporate (8,783) (7,182) (8,587) (6,540) (5,843) (6,266)

Total EBITDA $ 19,330 $ 18,847 $ 20,358 $ 22,886 $ 20,058 $ 22,686

EBITDA Margin % 9.3 % 9.8 % 10.1 % 11.0 % 10.4 % 11.2 %

(1) Includes transaction expenses, and gain (loss) on disposal of assets and other.

(2) The Company believes that the presentation of EBITDA is useful to investors because EBITDA is an appropriate measure for evaluating operating performance and liquidity that reflects the resources available for strategic opportunities including, among others, investing in the business, strengthening the balance sheet, repurchasing securities and making strategic acquisitions. In addition, EBITDA is a widely used benchmark in the investment community. See the attached separate schedule for the reconciliation of GAAP to non-GAAP financial information.

(3) Refer to Table 1 for schedule of adjusting items.

Forum Energy Technologies, Inc.

Supplemental schedule - Orders information

(Unaudited)

Three months ended

(in thousands of dollars) March 31, 2026 March 31, 2025 December 31, 2025

Orders

Drilling and Completions $ 135,458 $ 132,133 $ 106,407

Artificial Lift and Downhole 85,710 68,555 80,790

Total orders $ 221,168 $ 200,688 $ 187,197

Revenue

Drilling and Completions $ 126,739 $ 115,569 $ 126,916

Artificial Lift and Downhole 82,098 77,796 75,461

Eliminations (137) (86) (177)

Total revenue $ 208,700 $ 193,279 $ 202,200

Book to bill ratio (1)

Drilling and Completions 1.07 1.14 0.84

Artificial Lift and Downhole 1.04 0.88 1.07

Total book to bill ratio 1.06 1.04 0.93

(1) The book-to-bill ratio is calculated by dividing the dollar value of orders received in a given period by the revenue earned in that same period. The Company believes that this ratio is useful to investors because it provides an indication of whether the demand for our products is strengthening or declining. A ratio of greater than one is indicative of improving market demand, while a ratio of less than one would suggest weakening demand. In addition, the Company believes the book-to-bill ratio provides more meaningful insight into future revenues for our business than other measures, such as order backlog, because the majority of our products are activity based consumable items or shorter cycle capital equipment, neither of which are typically ordered by customers far in advance.

Forum Energy Technologies, Inc.

Reconciliation of GAAP to non-GAAP financial information

(Unaudited)

Table 1 - Adjusting items

Three months ended

March 31, 2026 March 31, 2025 December 31, 2025

(in thousands, except per share information) Operating income (loss)

EBITDA (1)

Net income (loss) Operating income

EBITDA (1)

Net income (loss) Operating income

EBITDA (1)

Net income (loss)

As reported $ 11,005 $ 19,330 $ 4,492 $ 8,804 $ 18,847 $ 1,122 $ 12,764 $ 20,358 $ 2,072

% of revenue 5.3 % 9.3 % 4.6 % 9.8 % 6.3 % 10.1 %

Restructuring and other costs 1,488 1,488 1,488 796 796 796 633 633 633

Transaction expenses 148 148 148 51 51 51 57 57 57

Inventory and other assets impairment adjustments (86) (86) (86) (85) (85) (85) (1,187) (1,187) (1,187)

Stock-based compensation expense — 2,520 — — 1,819 — — 2,598 —

Foreign exchange losses (gains) and other, net (2)

— (514) (514) — (1,370) (1,370) — 227 227

Foreign tax settlement — — — — — — — — 3,163

As adjusted (1)

$ 12,555 $ 22,886 $ 5,528 $ 9,566 $ 20,058 $ 514 $ 12,267 $ 22,686 $ 4,965

% of revenue 6.0 % 11.0 % 4.9 % 10.4 % 6.1 % 11.2 %

Diluted shares outstanding as reported 11,641 12,568 12,085

Diluted shares outstanding as adjusted 11,641 12,568 12,085

Diluted EPS - as reported $ 0.39 $ 0.09 $ 0.17

Diluted EPS - as adjusted $ 0.47 $ 0.04 $ 0.41

(1) The Company believes that the presentation of EBITDA, adjusted EBITDA, adjusted operating loss, adjusted net loss and adjusted diluted EPS are useful to investors because (i) each of these financial metrics are useful to investors to assess and understand operating performance, especially when comparing those results with previous and subsequent periods or forecasting performance for future periods, primarily because management views the excluded items to be outside of normal operating results and (ii) EBITDA is an appropriate measure of evaluating operating performance and liquidity that reflects the resources available for strategic opportunities including, among others, investing in the business, strengthening the balance sheet, repurchasing securities and making strategic acquisitions. In addition, these benchmarks are widely used in the investment community. See the attached separate schedule for the reconciliation of GAAP to non-GAAP financial information.

(2) Foreign exchange, net primarily relates to cash and receivables denominated in U.S. dollars by some of our non-U.S. subsidiaries that report in a local currency, and therefore the loss (gain) has no economic impact in dollar terms.

Forum Energy Technologies, Inc.

Reconciliation of GAAP to non-GAAP financial information

(Unaudited)

Table 2 - Adjusting Items

Three months ended

(in thousands of dollars) March 31, 2026 March 31, 2025 December 31, 2025

EBITDA reconciliation (1)

Net income $ 4,492 $ 1,122 $ 2,072

Interest expense 4,141 4,983 4,258

Depreciation and amortization 7,802 8,975 7,841

Income tax expense 2,895 3,767 6,187

EBITDA $ 19,330 $ 18,847 $ 20,358

(1) The Company believes adjusted EBITDA is useful to investors because it is an appropriate measure of evaluating operating performance and liquidity. It reflects the resources available for strategic opportunities including, among others, investing in the business, strengthening the balance sheet, repurchasing securities, and making strategic acquisitions. In addition, adjusted EBITDA is a widely used benchmark in the investment community.

Forum Energy Technologies, Inc.

Reconciliation of GAAP to non-GAAP financial information

(Unaudited)

Table 3 - Adjusting items

Three months ended

(in thousands of dollars) March 31, 2026 March 31, 2025 December 31, 2025

Free cash flow, before acquisitions, reconciliation (1)

Net cash provided by operating activities $ 1,627 $ 9,326 $ 22,437

Capital expenditures for property and equipment (256) (2,110) (1,562)

Proceeds from sale of property and equipment 3 14 844

Free cash flow, before acquisitions $ 1,374 $ 7,230 $ 21,719

(1) The Company believes free cash flow, before acquisitions is an important measure because it encompasses both profitability and capital management in evaluating results.

Forum Energy Technologies, Inc.

Table 4 - Net Leverage Ratio (1)

(Unaudited)

(in thousands of dollars) March 31, 2026 December 31, 2025

2029 Bonds $ 100,000 $ 100,000

Credit Facility 55,053 37,282

Other debt 3,751 4,008

Long-term debt, principal amount 158,804 141,290

Less: Cash and cash equivalents 37,488 34,661

Net debt 121,316 106,629

Trailing Twelve Months Adjusted EBITDA 89,230 86,403

Net leverage ratio 1.4 1.2

(1) The Company believes net leverage ratio is an important measure because it represents the Company's ability to meet its financial obligations.

Forum Energy Technologies, Inc.

Table 5 - Revenue Per Rig

(Unaudited)

Three months ended

(in thousands of dollars) March 31, 2026 March 31, 2025 March 31, 2024

Revenue $ 208,700 $ 193,279 $ 202,392

Average global rig count (1)

1,832 1,900 2,015

Free cash flow, before acquisitions $ 114 $ 102 $ 100

(1) The table above shows the average number of active drilling rigs operating based on the weekly rig count information published by Baker Hughes Company. In the third quarter of 2025, Baker Hughes implemented a revised methodology for counting rigs, primarily affecting data pertaining to Saudi Arabia. Baker Hughes only adjusted data back January 2024.

Forum Energy Technologies, Inc.

Supplemental schedule - Product line revenue

(Unaudited)

Three months ended

(in thousands of dollars) March 31, 2026 March 31, 2025 December 31, 2025

Revenue $ % $ % $ %

Drilling $ 32,730 15.7 % $ 32,113 16.5 % $ 35,713 17.6 %

Subsea 35,495 17.0 % 22,140 11.5 % 29,513 14.6 %

Stimulation and Intervention 33,047 15.8 % 37,428 19.4 % 30,854 15.3 %

Coiled Tubing 25,467 12.2 % 23,888 12.4 % 30,836 15.3 %

Drilling and Completions 126,739 60.7 % 115,569 59.8 % 126,916 62.8 %

Downhole 50,559 24.2 % 47,668 24.7 % 47,800 23.6 %

Production Equipment 18,750 9.0 % 19,059 9.9 % 15,574 7.7 %

Valve Solutions 12,789 6.1 % 11,069 5.7 % 12,087 6.0 %

Artificial Lift and Downhole 82,098 39.3 % 77,796 40.3 % 75,461 37.3 %

Eliminations (137) — % (86) (0.1) % (177) (0.1) %

Total revenue $ 208,700 100.0 % $ 193,279 100.0 % $ 202,200 100.0 %

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Cover Page

Apr. 30, 2026

Document Information [Line Items]

Document Type

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Document Period End Date

Apr. 30, 2026

Entity Registrant Name

FORUM ENERGY TECHNOLOGIES, INC.

Entity Incorporation, State or Country Code

Entity File Number

001-35504

Entity Tax Identification Number

61-1488595

Entity Address, Address Line One

10344 Sam Houston Park Drive

Entity Address, Address Line Two

Suite 300

Entity Address, City or Town

Houston

Entity Address, State or Province

Entity Address, Postal Zip Code

77064

City Area Code

281

Local Phone Number

949-2500

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Document Information [Line Items]

Title of 12(b) Security

Common Stock, par value $0.01 per share

Trading Symbol

FET

Security Exchange Name

NYSE

exch_XCHI

Document Information [Line Items]

Title of 12(b) Security

Common Stock, par value $0.01 per share

Trading Symbol

FET

Security Exchange Name

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For the EDGAR submission types of Form 8-K: the date of the report, the date of the earliest event reported; for the EDGAR submission types of Form N-1A: the filing date; for all other submission types: the end of the reporting or transition period. The format of the date is YYYY-MM-DD.

+ References

No definition available.

+ Details

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dei_DocumentPeriodEndDate

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Data Type:

xbrli:dateItemType

Balance Type:

Period Type:

duration

- Definition

The type of document being provided (such as 10-K, 10-Q, 485BPOS, etc). The document type is limited to the same value as the supporting SEC submission type, or the word 'Other'.

+ References

No definition available.

+ Details

Name:

dei_DocumentType

Namespace Prefix:

dei_

Data Type:

dei:submissionTypeItemType

Balance Type:

Period Type:

duration

- Definition

Address Line 1 such as Attn, Building Name, Street Name

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No definition available.

+ Details

Name:

dei_EntityAddressAddressLine1

Namespace Prefix:

dei_

Data Type:

xbrli:normalizedStringItemType

Balance Type:

Period Type:

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- Definition

Address Line 2 such as Street or Suite number

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No definition available.

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Name:

dei_EntityAddressAddressLine2

Namespace Prefix:

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Data Type:

xbrli:normalizedStringItemType

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- Definition

Name of the City or Town

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No definition available.

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Name:

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Namespace Prefix:

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Data Type:

xbrli:normalizedStringItemType

Balance Type:

Period Type:

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- Definition

Code for the postal or zip code

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No definition available.

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Name:

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Namespace Prefix:

dei_

Data Type:

xbrli:normalizedStringItemType

Balance Type:

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- Definition

Name of the state or province.

+ References

No definition available.

+ Details

Name:

dei_EntityAddressStateOrProvince

Namespace Prefix:

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Data Type:

dei:stateOrProvinceItemType

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Period Type:

duration

- Definition

A unique 10-digit SEC-issued value to identify entities that have filed disclosures with the SEC. It is commonly abbreviated as CIK.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher SEC

-Name Exchange Act

-Number 240

-Section 12

-Subsection b-2

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Name:

dei_EntityCentralIndexKey

Namespace Prefix:

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Data Type:

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Balance Type:

Period Type:

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- Definition

Indicate if registrant meets the emerging growth company criteria.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher SEC

-Name Exchange Act

-Number 240

-Section 12

-Subsection b-2

+ Details

Name:

dei_EntityEmergingGrowthCompany

Namespace Prefix:

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Data Type:

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duration

- Definition

Commission file number. The field allows up to 17 characters. The prefix may contain 1-3 digits, the sequence number may contain 1-8 digits, the optional suffix may contain 1-4 characters, and the fields are separated with a hyphen.

+ References

No definition available.

+ Details

Name:

dei_EntityFileNumber

Namespace Prefix:

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Data Type:

dei:fileNumberItemType

Balance Type:

Period Type:

duration

- Definition

Two-character EDGAR code representing the state or country of incorporation.

+ References

No definition available.

+ Details

Name:

dei_EntityIncorporationStateCountryCode

Namespace Prefix:

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Data Type:

dei:edgarStateCountryItemType

Balance Type:

Period Type:

duration

- Definition

The exact name of the entity filing the report as specified in its charter, which is required by forms filed with the SEC.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher SEC

-Name Exchange Act

-Number 240

-Section 12

-Subsection b-2

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Name:

dei_EntityRegistrantName

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- Definition

The Tax Identification Number (TIN), also known as an Employer Identification Number (EIN), is a unique 9-digit value assigned by the IRS.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher SEC

-Name Exchange Act

-Number 240

-Section 12

-Subsection b-2

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Name:

dei_EntityTaxIdentificationNumber

Namespace Prefix:

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Data Type:

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Period Type:

duration

- Definition

Local phone number for entity.

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No definition available.

+ Details

Name:

dei_LocalPhoneNumber

Namespace Prefix:

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Data Type:

xbrli:normalizedStringItemType

Balance Type:

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- Definition

Boolean flag that is true when the Form 8-K filing is intended to satisfy the filing obligation of the registrant as pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher SEC

-Name Exchange Act

-Number 240

-Section 13e

-Subsection 4c

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Name:

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Namespace Prefix:

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Data Type:

xbrli:booleanItemType

Balance Type:

Period Type:

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- Definition

Boolean flag that is true when the Form 8-K filing is intended to satisfy the filing obligation of the registrant as pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher SEC

-Name Exchange Act

-Number 240

-Section 14d

-Subsection 2b

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Name:

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Namespace Prefix:

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Data Type:

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Balance Type:

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- Definition

Title of a 12(b) registered security.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher SEC

-Name Exchange Act

-Number 240

-Section 12

-Subsection b

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Name:

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Namespace Prefix:

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Data Type:

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Balance Type:

Period Type:

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- Definition

Name of the Exchange on which a security is registered.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher SEC

-Name Exchange Act

-Number 240

-Section 12

-Subsection d1-1

+ Details

Name:

dei_SecurityExchangeName

Namespace Prefix:

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Data Type:

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Balance Type:

Period Type:

duration

- Definition

Boolean flag that is true when the Form 8-K filing is intended to satisfy the filing obligation of the registrant as soliciting material pursuant to Rule 14a-12 under the Exchange Act.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher SEC

-Name Exchange Act

-Number 240

-Section 14a

-Subsection 12

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Name:

dei_SolicitingMaterial

Namespace Prefix:

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Data Type:

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Balance Type:

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- Definition

Trading symbol of an instrument as listed on an exchange.

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No definition available.

+ Details

Name:

dei_TradingSymbol

Namespace Prefix:

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Data Type:

dei:tradingSymbolItemType

Balance Type:

Period Type:

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- Definition

Boolean flag that is true when the Form 8-K filing is intended to satisfy the filing obligation of the registrant as written communications pursuant to Rule 425 under the Securities Act.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher SEC

-Name Securities Act

-Number 230

-Section 425

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Data Type:

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- Details

Name:

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- Details

Name:

dei_EntityListingsExchangeAxis=fet_Exch_XCHIMember

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