Civeo Q2 FY26 net loss narrows to $2.5 million; revenue rises 11% to $180 million

Civeo maintained full-year 2026 guidance for revenue of $675 million to $700 million, with adjusted EBITDA (non-GAAP) of $85 million to $90 million.

Civeo posted Q2 2026 revenue of $180 million, up 11% year over year; net loss narrowed to $2.5 million, or $0.23 per share.

Adjusted EBITDA (non-GAAP) slipped to $23.8 million from $25 million a year earlier, while operating cash flow improved to $11.6 million.

Australia revenue rose 11% to $125.4 million, helped by a stronger Australian dollar; Canada revenue increased 9% to $54.6 million.

In July, Civeo issued $115 million of 4.50% convertible senior notes due 2031, replacing floating-rate borrowings with fixed-rate unsecured capital.