The company refinanced its term loans, lowering the blended interest rate by more than 100 basis points and extending maturities to 2030, enhancing its financial flexibility and reducing annual interest costs. Team Inc's revenue rose by 5.4% year-over-year in Q4 2025, with its Mechanical Services segment delivering an 8.9% increase and the Inspection and Heat Treating division achieving a 1.9% gain on the prior year. Team Inc completed a $75 million private placement of preferred stock and warrants, deploying proceeds to pay down approximately $67 million of outstanding debt and further deleverage its balance sheet. Adjusted EBITDA climbed roughly 12% in 2025, expanding margins to near 7%, while year-end liquidity stood at $77.4 million, strengthening the company's cash flow position heading into 2026.