RigNet, Inc. provides remote communications services for the oil and gas industry in North America and internationally. The Company offers remote communications services through a controlled and managed Internet protocol/multiprotocol label switching global network, enabling drilling contractors, oil companies, and oilfield service companies to communicate. It offers a communications package of voice, video, networking, and real-time data management to offshore and land-based remote locations. RigNet primarily provides voice-over-Internet-protocol, data, and high-speed Internet access and other value-added services, such as real-time data management solutions, WiFi hotspots and Internet kiosks, video conferencing solutions, wireless intercoms, handheld radios, and telemedicine. The Company also offers Secure Oil Information Link, a managed members-only communications network hub that enables collaborative partners, suppliers, and customers to transfer and share data.

Company Growth (employees)
Type
Public
HQ
Houston, US
Founded
2001
Size (employees)
508 (est)
Website
rig.net
RigNet was founded in 2001 and is headquartered in Houston, US

RigNet Office Locations

RigNet has offices in Houston, Aberdeenshire, Lagos, Singapore and in 8 other locations
Houston, US (HQ)
15115 Park Row Ste 300
Macaé, BR
1764 Av. Atlântica
Scott, US
1710 W Willow St
Stavanger, NO
RigNet AS Maskinveien 24
Perth, AU
Level 14 Grosvenor Place 197 St Georges Terrace
Singapore, SG
8 Kallang Avenue APERIA Tower 1, #06-01/02
Show all (12)

RigNet Data and Metrics

RigNet Financial Metrics

RigNet's revenue was reported to be $48.1 m in Q1, 2017
USD

Revenue (Q1, 2017)

48.1 m

Gross profit (Q1, 2017)

18.2 m

Gross profit margin (Q1, 2017), %

38%

Net income (Q1, 2017)

(2 m)

EBIT (Q1, 2017)

(1.1 m)

Market capitalization (22-Aug-2017)

269.8 m

Cash (31-Mar-2017)

55.2 m
RigNet's current market capitalization is $269.8 m.
USDFY, 2011FY, 2012FY, 2013FY, 2014FY, 2015FY, 2016

Revenue

220.7 m330.2 m271.3 m220.6 m

Revenue growth, %

50%(18%)(19%)

Cost of goods sold

118.9 m188.2 m163.2 m129.8 m

Gross profit

101.8 m142 m108 m90.9 m

Gross profit Margin, %

46%43%40%41%

General and administrative expense

52.2 m

Operating expense total

52.2 m

EBIT

28.2 m34.1 m(11.4 m)(2.5 m)

EBIT margin, %

13%10%(4%)(1%)

Interest expense

1.2 m1.6 m2.3 m2.2 m2.1 m2.7 m

Pre tax profit

25.7 m31.4 m(14.3 m)(5.5 m)

Income tax expense

6.5 m8.7 m9.2 m15.4 m2.4 m(5.8 m)

Net Income

16.5 m16 m(16.7 m)(11.3 m)
USDQ2, 2014Q3, 2014Q1, 2015Q2, 2015Q3, 2015Q1, 2016Q2, 2016Q3, 2016Q1, 2017

Revenue

80.7 m87.8 m77.7 m75.1 m66.3 m62.3 m54.9 m50.6 m48.1 m

Cost of goods sold

45.7 m49.2 m43.9 m39.7 m38.2 m36.3 m33.3 m29.9 m29.9 m

Gross profit

35 m38.6 m33.7 m35.4 m28.1 m26.1 m21.6 m20.8 m18.2 m

Gross profit Margin, %

43%44%43%47%42%42%39%41%38%

General and administrative expense

16.2 m17.8 m21.3 m16.4 m14 m15.3 m13.6 m10.5 m10.5 m

Operating expense total

16.2 m17.8 m21.3 m16.4 m14 m15.3 m13.6 m10.5 m10.5 m

EBIT

9.8 m11.7 m2.5 m9.1 m(8.2 m)589 k(3.3 m)247 k(1.1 m)

EBIT margin, %

12%13%3%12%(12%)1%(6%)0%(2%)

Interest expense

565 k588 k511 k508 k502 k668 k643 k729 k619 k

Pre tax profit

9.2 m10.7 m1.4 m8.8 m(9.1 m)(365 k)(3.6 m)(908 k)(1.6 m)

Income tax expense

(3.4 m)(4.8 m)(2.3 m)(2.6 m)(1.8 m)(902 k)(1.2 m)(540 k)(414 k)

Net Income

5.7 m5.9 m(942 k)6.1 m(10.9 m)(1.3 m)(4.9 m)(1.4 m)(2 m)
USDY, 2009Y, 2010Y, 2011Y, 2012Y, 2013Y, 2014Y, 2015FY, 2016

Cash

11.4 m50.4 m53.1 m59.7 m59.8 m66.6 m60.5 m57.2 m

Accounts Receivable

45.4 m74.6 m62.1 m48.7 m

Inventories

14.2 m21.3 m7.1 m10.4 m

Current Assets

120 m163.7 m137 m118.7 m

PP&E

59.1 m76.2 m72.5 m59.8 m

Goodwill

34.5 m30.1 m18.1 m22 m

Total Assets

238.8 m299.8 m258.1 m231 m

Accounts Payable

13.7 m13.6 m6.8 m9.1 m

Total Debt

53 m

Current Liabilities

42.3 m55 m43 m34.9 m

Total Liabilities

118.4 m

Additional Paid-in Capital

128.9 m137.7 m143 m147.9 m

Retained Earnings

(4.7 m)10.9 m(6 m)(17.6 m)

Total Equity

124.8 m142.1 m123.3 m112.6 m

Debt to Equity Ratio

0.5 x

Debt to Assets Ratio

0.2 x

Financial Leverage

1.9 x2.1 x2.1 x2.1 x
USDQ2, 2014Q3, 2014Q1, 2015Q2, 2015Q3, 2015Q1, 2016Q2, 2016Q3, 2016Q1, 2017

Cash

61 m61.1 m60.8 m61.5 m64.8 m52 m59.5 m57.2 m55.2 m

Accounts Receivable

83 m83.8 m69.1 m71.1 m65.8 m66.7 m51.2 m54.4 m46.9 m

Current Assets

157.3 m162.5 m154 m159.1 m156.7 m131.5 m122.9 m125.9 m115.7 m

PP&E

76.3 m77.5 m74.2 m74.9 m72.4 m71.2 m67.6 m62.8 m57.7 m

Goodwill

35.2 m34 m29.1 m30.2 m18.5 m28.7 m23.3 m22.8 m22.2 m

Total Assets

298.1 m303.1 m287.5 m294.5 m275.5 m264.2 m248.8 m244.7 m224.7 m

Accounts Payable

16.4 m17.1 m7.3 m12.8 m10.6 m7.9 m6.2 m7.2 m10.8 m

Current Liabilities

60 m62.3 m46.3 m44.3 m40 m40.8 m35.8 m38.1 m35 m

Additional Paid-in Capital

133.3 m135.5 m138.7 m139.8 m141.9 m143.7 m145.5 m147.3 m149.5 m

Retained Earnings

3.2 m9 m9.9 m15.9 m5 m(7.4 m)(12.1 m)(13.8 m)(19.6 m)

Total Equity

138.9 m142.8 m137.5 m148 m134.4 m123.2 m118 m117.9 m113 m

Financial Leverage

2.1 x2.1 x2.1 x2 x2 x2.1 x2.1 x2.1 x2 x
USDFY, 2013FY, 2014FY, 2015FY, 2016

Net Income

16.5 m16 m(16.7 m)(11.3 m)

Depreciation and Amortization

21 m29.5 m32.5 m33.6 m

Accounts Receivable

(5.5 m)(15 m)10.9 m18.3 m

Accounts Payable

1.4 m(7.6 m)(4.9 m)129 k

Cash From Operating Activities

28 m43.8 m37 m39.2 m

Capital Expenditures

(30.2 m)(40.2 m)(34.3 m)(13.6 m)

Cash From Investing Activities

(28.8 m)(65.3 m)(33.3 m)(19.4 m)

Long-term Borrowings

(7.2 m)(8.6 m)(8.6 m)(16.6 m)

Cash From Financing Activities

3.2 m30.5 m(7.2 m)(15.4 m)

Income Taxes Paid

10.6 m10.6 m9.8 m5.3 m

Free Cash Flow

58.2 m83.9 m71.3 m25.5 m
USDQ2, 2014Q3, 2014Q1, 2015Q2, 2015Q3, 2015Q1, 2016Q2, 2016Q3, 2016Q1, 2017

Net Income

5.7 m5.9 m(942 k)6.1 m(10.9 m)(1.3 m)(4.9 m)(1.4 m)(2 m)

Depreciation and Amortization

7.3 m7.5 m8.1 m8.2 m8.1 m8.2 m9 m8.3 m7.3 m

Accounts Receivable

83 m83.8 m69.1 m71.1 m65.8 m66.7 m51.2 m54.4 m46.9 m

Accounts Payable

16.4 m17.1 m7.3 m12.8 m10.6 m7.9 m6.2 m7.2 m10.8 m
USDY, 2017

Revenue/Employee

94.6 k

Financial Leverage

2 x

RigNet Market Value History

Traffic Overview of RigNet

RigNet Online and Social Media Presence

RigNet Company Life and Culture

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