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.

RigNet was founded in 2001 and is headquartered in Houston, US

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

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.

USD | FY, 2011^{} | FY, 2012^{} | FY, 2013^{} | FY, 2014^{} | FY, 2015^{} | FY, 2016^{} |
---|---|---|---|---|---|---|

## Revenue | 220.7 m | 330.2 m | 271.3 m | 220.6 m | ||

## Revenue growth, % | 50% | (18%) | (19%) | |||

## Cost of goods sold | 118.9 m | 188.2 m | 163.2 m | 129.8 m | ||

## Gross profit | 101.8 m | 142 m | 108 m | 90.9 m | ||

## Gross profit Margin, % | 46% | 43% | 40% | 41% | ||

## General and administrative expense | 52.2 m | |||||

## Operating expense total | 52.2 m | |||||

## EBIT | 28.2 m | 34.1 m | (11.4 m) | (2.5 m) | ||

## EBIT margin, % | 13% | 10% | (4%) | (1%) | ||

## Interest expense | 1.2 m | 1.6 m | 2.3 m | 2.2 m | 2.1 m | 2.7 m |

## Pre tax profit | 25.7 m | 31.4 m | (14.3 m) | (5.5 m) | ||

## Income tax expense | 6.5 m | 8.7 m | 9.2 m | 15.4 m | 2.4 m | (5.8 m) |

## Net Income | 16.5 m | 16 m | (16.7 m) | (11.3 m) |

USD | Q2, 2014^{} | Q3, 2014^{} | Q1, 2015^{} | Q2, 2015^{} | Q3, 2015^{} | Q1, 2016^{} | Q2, 2016^{} | Q3, 2016^{} | Q1, 2017^{} |
---|---|---|---|---|---|---|---|---|---|

## Revenue | 80.7 m | 87.8 m | 77.7 m | 75.1 m | 66.3 m | 62.3 m | 54.9 m | 50.6 m | 48.1 m |

## Cost of goods sold | 45.7 m | 49.2 m | 43.9 m | 39.7 m | 38.2 m | 36.3 m | 33.3 m | 29.9 m | 29.9 m |

## Gross profit | 35 m | 38.6 m | 33.7 m | 35.4 m | 28.1 m | 26.1 m | 21.6 m | 20.8 m | 18.2 m |

## Gross profit Margin, % | 43% | 44% | 43% | 47% | 42% | 42% | 39% | 41% | 38% |

## General and administrative expense | 16.2 m | 17.8 m | 21.3 m | 16.4 m | 14 m | 15.3 m | 13.6 m | 10.5 m | 10.5 m |

## Operating expense total | 16.2 m | 17.8 m | 21.3 m | 16.4 m | 14 m | 15.3 m | 13.6 m | 10.5 m | 10.5 m |

## EBIT | 9.8 m | 11.7 m | 2.5 m | 9.1 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 k | 588 k | 511 k | 508 k | 502 k | 668 k | 643 k | 729 k | 619 k |

## Pre tax profit | 9.2 m | 10.7 m | 1.4 m | 8.8 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 m | 5.9 m | (942 k) | 6.1 m | (10.9 m) | (1.3 m) | (4.9 m) | (1.4 m) | (2 m) |

USD | Y, 2009^{} | Y, 2010^{} | Y, 2011^{} | Y, 2012^{} | Y, 2013^{} | Y, 2014^{} | Y, 2015^{} | FY, 2016^{} |
---|---|---|---|---|---|---|---|---|

## Cash | 11.4 m | 50.4 m | 53.1 m | 59.7 m | 59.8 m | 66.6 m | 60.5 m | 57.2 m |

## Accounts Receivable | 45.4 m | 74.6 m | 62.1 m | 48.7 m | ||||

## Inventories | 14.2 m | 21.3 m | 7.1 m | 10.4 m | ||||

## Current Assets | 120 m | 163.7 m | 137 m | 118.7 m | ||||

## PP&E | 59.1 m | 76.2 m | 72.5 m | 59.8 m | ||||

## Goodwill | 34.5 m | 30.1 m | 18.1 m | 22 m | ||||

## Total Assets | 238.8 m | 299.8 m | 258.1 m | 231 m | ||||

## Accounts Payable | 13.7 m | 13.6 m | 6.8 m | 9.1 m | ||||

## Total Debt | 53 m | |||||||

## Current Liabilities | 42.3 m | 55 m | 43 m | 34.9 m | ||||

## Total Liabilities | 118.4 m | |||||||

## Additional Paid-in Capital | 128.9 m | 137.7 m | 143 m | 147.9 m | ||||

## Retained Earnings | (4.7 m) | 10.9 m | (6 m) | (17.6 m) | ||||

## Total Equity | 124.8 m | 142.1 m | 123.3 m | 112.6 m | ||||

## Debt to Equity Ratio | 0.5 x | |||||||

## Debt to Assets Ratio | 0.2 x | |||||||

## Financial Leverage | 1.9 x | 2.1 x | 2.1 x | 2.1 x |

USD | Q2, 2014^{} | Q3, 2014^{} | Q1, 2015^{} | Q2, 2015^{} | Q3, 2015^{} | Q1, 2016^{} | Q2, 2016^{} | Q3, 2016^{} | Q1, 2017^{} |
---|---|---|---|---|---|---|---|---|---|

## Cash | 61 m | 61.1 m | 60.8 m | 61.5 m | 64.8 m | 52 m | 59.5 m | 57.2 m | 55.2 m |

## Accounts Receivable | 83 m | 83.8 m | 69.1 m | 71.1 m | 65.8 m | 66.7 m | 51.2 m | 54.4 m | 46.9 m |

## Current Assets | 157.3 m | 162.5 m | 154 m | 159.1 m | 156.7 m | 131.5 m | 122.9 m | 125.9 m | 115.7 m |

## PP&E | 76.3 m | 77.5 m | 74.2 m | 74.9 m | 72.4 m | 71.2 m | 67.6 m | 62.8 m | 57.7 m |

## Goodwill | 35.2 m | 34 m | 29.1 m | 30.2 m | 18.5 m | 28.7 m | 23.3 m | 22.8 m | 22.2 m |

## Total Assets | 298.1 m | 303.1 m | 287.5 m | 294.5 m | 275.5 m | 264.2 m | 248.8 m | 244.7 m | 224.7 m |

## Accounts Payable | 16.4 m | 17.1 m | 7.3 m | 12.8 m | 10.6 m | 7.9 m | 6.2 m | 7.2 m | 10.8 m |

## Current Liabilities | 60 m | 62.3 m | 46.3 m | 44.3 m | 40 m | 40.8 m | 35.8 m | 38.1 m | 35 m |

## Additional Paid-in Capital | 133.3 m | 135.5 m | 138.7 m | 139.8 m | 141.9 m | 143.7 m | 145.5 m | 147.3 m | 149.5 m |

## Retained Earnings | 3.2 m | 9 m | 9.9 m | 15.9 m | 5 m | (7.4 m) | (12.1 m) | (13.8 m) | (19.6 m) |

## Total Equity | 138.9 m | 142.8 m | 137.5 m | 148 m | 134.4 m | 123.2 m | 118 m | 117.9 m | 113 m |

## Financial Leverage | 2.1 x | 2.1 x | 2.1 x | 2 x | 2 x | 2.1 x | 2.1 x | 2.1 x | 2 x |

USD | FY, 2013^{} | FY, 2014^{} | FY, 2015^{} | FY, 2016^{} |
---|---|---|---|---|

## Net Income | 16.5 m | 16 m | (16.7 m) | (11.3 m) |

## Depreciation and Amortization | 21 m | 29.5 m | 32.5 m | 33.6 m |

## Accounts Receivable | (5.5 m) | (15 m) | 10.9 m | 18.3 m |

## Accounts Payable | 1.4 m | (7.6 m) | (4.9 m) | 129 k |

## Cash From Operating Activities | 28 m | 43.8 m | 37 m | 39.2 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 m | 30.5 m | (7.2 m) | (15.4 m) |

## Income Taxes Paid | 10.6 m | 10.6 m | 9.8 m | 5.3 m |

## Free Cash Flow | 58.2 m | 83.9 m | 71.3 m | 25.5 m |

USD | Q2, 2014^{} | Q3, 2014^{} | Q1, 2015^{} | Q2, 2015^{} | Q3, 2015^{} | Q1, 2016^{} | Q2, 2016^{} | Q3, 2016^{} | Q1, 2017^{} |
---|---|---|---|---|---|---|---|---|---|

## Net Income | 5.7 m | 5.9 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 m | 7.5 m | 8.1 m | 8.2 m | 8.1 m | 8.2 m | 9 m | 8.3 m | 7.3 m |

## Accounts Receivable | 83 m | 83.8 m | 69.1 m | 71.1 m | 65.8 m | 66.7 m | 51.2 m | 54.4 m | 46.9 m |

## Accounts Payable | 16.4 m | 17.1 m | 7.3 m | 12.8 m | 10.6 m | 7.9 m | 6.2 m | 7.2 m | 10.8 m |

USD | Y, 2017 |
---|---|

## Revenue/Employee | 94.6 k |

## Financial Leverage | 2 x |