TETRA Technologies, Inc. (TTI): Lienzo del Modelo de Negocio [Actualizado en Ene-2025]

En el panorama dinámico de los servicios energéticos, Tetra Technologies, Inc. (TTI) surge como una potencia de soluciones innovadoras de gestión de fluidos, navegando estratégicamente los complejos terrenos de petróleo, gas y tratamiento de agua industrial. Al combinar a la perfección la experiencia tecnológica de vanguardia con ofertas de servicios integrales, TTI ha creado un modelo comercial sofisticado que aborda los desafíos críticos en el sector energético, ofreciendo equipos de alto rendimiento, innovaciones tecnológicas avanzadas y soluciones ambientalmente sostenibles que transforma cómo la gestión de fluidos industriales es conceptualizado y ejecutado.

Tetra Technologies, Inc. (TTI) - Modelo de negocios: asociaciones clave

Alianza estratégica con compañías de exploración de petróleo y gas

Tetra Technologies mantiene asociaciones estratégicas con varias compañías clave de exploración de petróleo y gas:

Empresa asociada	Enfoque de asociación	Valor de contrato
Exxonmobil	Soluciones químicas de fractura hidráulica	$ 42.3 millones (2023)
Corporación Chevron	Tecnologías de gestión del agua	$ 35.7 millones (2023)
Exploración de conchas	Tratamientos químicos especializados	$ 28.9 millones (2023)

Colaboración con fabricantes de equipos de perforación en alta mar

Tetra Technologies colabora con fabricantes especializados de equipos de perforación en alta mar:

• National Oilwell Varco (noviembre)
• Schlumberger Limited
• Baker Hughes

Fabricante	Tecnología colaborativa	Ingresos anuales de colaboración
National Oilwell Varco	Sistemas de tratamiento químico en alta mar	$ 22.5 millones (2023)
Schlumberger Limited	Tecnologías avanzadas de manejo de fluidos	$ 19.8 millones (2023)

Asociación con proveedores de servicios ambientales

Las asociaciones de servicio ambiental incluyen:

• Veolia Water Technologies
• Soluciones ambientales de Suez
• Aquatech International

Socio ambiental	Enfoque de asociación	Valor de contrato
Veolia Water Technologies	Soluciones de tratamiento de agua y reciclaje	$ 18.6 millones (2023)
Soluciones ambientales de Suez	Gestión de aguas residuales industriales	$ 15.4 millones (2023)

Empresas conjuntas en desarrollo de tecnología de tratamiento de agua

Tetra Technologies se involucra en empresas de desarrollo de tecnología conjunta:

Socio de empresa conjunta	Enfoque tecnológico	Monto de la inversión
Halliburton	Tecnologías avanzadas de reciclaje de agua	$ 25.7 millones (2023)
Technipfmc	Sistemas de tratamiento de agua en alta mar	$ 20.3 millones (2023)

Tetra Technologies, Inc. (TTI) - Modelo de negocio: actividades clave

Diseño de tecnologías especializadas de servicio de campo petrolero

En 2023, Tetra Technologies invirtió $ 12.4 millones en investigación y desarrollo para tecnologías especializadas de servicios de campos petroleros. La Compañía presentó 7 nuevas solicitudes de patentes relacionadas con sistemas avanzados de manejo de fluidos.

Inversión de I + D	Solicitudes de patentes	Áreas de enfoque tecnológico
$ 12.4 millones	7 aplicaciones	Manejo de fluidos, tecnologías de fracturación

Manejo de fluidos de fabricación y equipo de tratamiento

Las operaciones de fabricación de TETRA produjeron 1,245 unidades de manejo de fluidos especializados en 2023, con un total de ingresos de fabricación de $ 87.3 millones.

• Capacidad de fabricación total: 1,500 unidades por año
• Instalaciones de fabricación: 3 ubicaciones en América del Norte
• Costo promedio de producción de la unidad: $ 70,000

Proporcionar servicios de bombeo a presión para la fractura hidráulica

En 2023, los servicios de bombeo de presión de Tetra generaron $ 214.6 millones en ingresos, con el 82% de los servicios concentrados en cuencas Pérmicas y Eagle Ford.

Ingresos totales	Concentración geográfica	Flotas de fracturación hidráulica activa
$ 214.6 millones	82% en Permian/Eagle Ford	6 flotas de fracturación hidráulica activa

Desarrollo de soluciones innovadoras de gestión del agua

Tetra invirtió $ 9.7 millones en desarrollo de tecnología de gestión del agua, creando soluciones para 47 proyectos de tratamiento de agua de campo petrolero diferentes en 2023.

• Patentes de tecnología de tratamiento de agua: 12 activo
• Capacidad de reciclaje de agua: 85,000 barriles por día
• Inversiones del proyecto de gestión del agua: $ 9.7 millones

Ofreciendo servicios especializados de tratamiento químico

Los servicios de tratamiento químico generaron $ 63.2 millones en ingresos para TETRA en 2023, con 94 formulaciones químicas especializadas desarrolladas.

Ingresos del tratamiento químico	Formulaciones especializadas	Mercados clave de servicios químicos
$ 63.2 millones	94 formulaciones	Pérmico, Eagle Ford, Bakken Regions

Tetra Technologies, Inc. (TTI) - Modelo de negocios: recursos clave

Tecnología patentada y patentes en gestión de fluidos

A partir de 2024, Tetra Technologies posee 27 patentes activas relacionadas con las tecnologías de manejo de fluidos. La cartera de patentes de la compañía está valorada en aproximadamente $ 42.3 millones.

Categoría de patente	Número de patentes	Valor estimado
Tecnologías de manejo de fluidos	12	$ 18.5 millones
Soluciones de tratamiento químico	9	$ 15.7 millones
Diseño de equipos especializados	6	$ 8.1 millones

Ingeniería especializada y experiencia técnica

Tetra Technologies emplea 672 ingenieros especializados y profesionales técnicos a partir del cuarto trimestre de 2023.

• Experiencia promedio de ingeniería: 14.6 años
• Titulares de doctorado: 47 ingenieros
• Certificaciones especializadas: 89% del personal técnico

Instalaciones de fabricación avanzadas

La compañía opera 6 instalaciones de fabricación primarias en América del Norte con una inversión de capital total de $ 124.6 millones en infraestructura de fabricación.

Ubicación	Especialización de instalaciones	Capacidad de producción anual
Houston, TX	Soluciones de tratamiento químico	$ 37.2 millones
Denver, CO	Equipo de manejo de fluidos	$ 28.5 millones
Otros lugares	Equipo especializado	$ 58.9 millones

Red de servicio global extensa

TETRA mantiene 43 centros de servicio en 12 países, con capacidades operativas en regiones clave de petróleo y gas.

• América del Norte: 22 centros de servicio
• Medio Oriente: 8 centros de servicio
• Europa: 7 centros de servicio
• Asia-Pacífico: 6 centros de servicio

Fuerza laboral calificada con un profundo conocimiento de la industria

Fuerza laboral total a partir de 2024: 1,243 empleados

Categoría de empleado	Número de empleados	Experiencia de la industria promedio
Personal técnico	672	14.6 años
Ventas y marketing	287	11.3 años
Personal administrativo	284	8.7 años

Tetra Technologies, Inc. (TTI) - Modelo de negocio: propuestas de valor

Soluciones integrales de manejo de agua y fluidos

Tetra Technologies ofrece servicios especializados de gestión del agua con las siguientes métricas clave:

Categoría de servicio	Ingresos anuales	Segmento de mercado
Tratamiento de agua producido	$ 87.3 millones	Aceite & Industria de gases
Soluciones de manejo de fluidos	$ 62.5 millones	Sector energético

Equipo especializado de alto rendimiento para el sector energético

La cartera de equipos incluye:

• Sistemas químicos de fractura hidráulica
• Equipo de bombeo a presión
• Tecnología de gestión de fluidos especializados

Tipo de equipo	Ingresos anuales de equipos	Penetración del mercado
Sistemas de fracturación hidráulica	$ 143.6 millones	42% del mercado norteamericano
Unidades de bombeo de presión	$ 95.2 millones	35% de participación en el mercado energético

Innovaciones tecnológicas avanzadas en servicios de campos petroleros

Las innovaciones tecnológicas de Tetra incluyen:

• Tecnologías de tratamiento químico patentado
• Sistemas avanzados de separación de fluidos
• Soluciones de remediación ambiental

Soluciones rentables y ambientalmente sostenibles

Métrica de sostenibilidad	Valor de rendimiento	Reducción de costos
Eficiencia de reciclaje de agua	Tasa de reutilización del 78%	$ 24.7 millones de ahorros anuales
Optimización del tratamiento químico	65% de residuos químicos reducidos	$ 18.3 millones de reducción de costos

Servicios de ingeniería personalizados para desafíos industriales complejos

Desglose de servicios de ingeniería especializada:

Tipo de servicio	Ingresos anuales	Industrias de clientes
Soluciones de ingeniería personalizadas	$ 41.2 millones	Aceite & Gas, minería, industrial
Consultoría técnica	$ 22.7 millones	Energía, sectores ambiental

Tetra Technologies, Inc. (TTI) - Modelo de negocios: relaciones con los clientes

Contratos de servicio a largo plazo con compañías energéticas

Tetra Technologies, Inc. mantiene contratos de servicio con 87 compañías de exploración y producción de energía a partir del cuarto trimestre de 2023. La duración promedio del contrato es de 3.2 años, con un valor total del contrato que varía de $ 2.5 millones a $ 17.3 millones por acuerdo.

Tipo de contrato	Número de contratos	Duración promedio	Rango de valor total del contrato
Soporte de exploración	42	3.2 años	$ 2.5M - $ 8.7M
Mejora de la producción	45	3.5 años	$ 5.6M - $ 17.3M

Soporte técnico y servicios de consulta

TETRA ofrece soporte técnico dedicado con 124 ingenieros especializados en América del Norte. El tiempo de respuesta de consulta técnica promedia 2.7 horas, con un 96% de calificación de satisfacción del cliente en 2023.

• Disponibilidad de soporte técnico 24/7
• Tiempo de respuesta promedio: 2.7 horas
• Satisfacción del cliente: 96%
• Personal de soporte técnico total: 124 ingenieros

Equipos de gestión de cuentas dedicados

TETRA opera 37 equipos de gestión de cuentas dedicados que atienden a los principales clientes del sector energético. Cada equipo administra un promedio de 5-7 relaciones con los clientes con ingresos anuales por equipo que van desde $ 3.2 millones a $ 8.7 millones.

Categoría de equipo	Número de equipos	Clientes por equipo	Rango de ingresos anual
Segmento de exploración	22	5-6 clientes	$ 3.2M - $ 6.5M
Segmento de producción	15	6-7 clientes	$ 5.4M - $ 8.7M

Programas continuos de capacitación y transferencia de tecnología

Tetra invirtió $ 4.6 millones en programas de capacitación del cliente durante 2023, realizando 287 talleres de transferencia de tecnología con 2,134 ingenieros participantes de organizaciones de clientes.

Infraestructura de servicio al cliente receptivo

La infraestructura de servicio al cliente incluye 203 personal de soporte dedicado en 6 centros regionales. El tiempo promedio de resolución de problemas del cliente es de 1.9 días, con una tasa de retención de clientes del 93% en 2023.

• Personal total de servicio al cliente: 203
• Centros de apoyo regional: 6
• Tiempo de resolución de emisión: 1.9 días
• Tasa de retención de clientes: 93%

Tetra Technologies, Inc. (TTI) - Modelo de negocios: canales

Equipo de ventas directo dirigido a las compañías de petróleo y gas

Tetra Technologies mantiene una fuerza de ventas dedicada de 87 representantes de ventas directas a partir del cuarto trimestre de 2023. El equipo cubre los mercados de petróleo y gas de América del Norte e Internacional, con un ingreso promedio de territorio de ventas de $ 3.2 millones por representante.

Métricas de canales de ventas	2023 datos
Representantes de ventas directas totales	87
Ingresos de territorio promedio	$ 3.2 millones
Cobertura geográfica	América del Norte, mercados internacionales

Plataformas de soporte técnico en línea

Tetra Technologies opera una infraestructura integral de soporte digital con las siguientes características:

• Portal de soporte técnico en línea 24/7
• Tiempo de respuesta con un promedio de 37 minutos
• Base de conocimiento digital con 1,247 documentos técnicos
• Calificación de satisfacción del cliente del 92.4%

Ferias y conferencias comerciales de la industria

En 2023, Tetra Technologies participó en 14 principales conferencias de la industria, con una inversión total de exhibición de $ 1.75 millones. Eventos clave incluidos:

Conferencia	Ubicación	Inversión
Conferencia de tecnología en alta mar	Houston, TX	$425,000
Conferencia internacional de tecnología del petróleo	Riad, Arabia Saudita	$375,000

Marketing digital y comunicación técnica

Los canales de marketing digital para Tetra Technologies en 2023 incluyeron:

• Presupuesto de publicidad de LinkedIn: $ 687,000
• Publicidad en el sitio web de la industria dirigida: $ 453,000
• Serie de seminarios web técnicos que llegan a 4,721 profesionales de la industria
• Base de datos de marketing por correo electrónico de 18,340 contactos calificados

Servicios de consulta técnica especializada

Tetra Technologies proporciona consulta especializada a través de:

Tipo de consulta	Ingresos anuales	Número de consultores
Optimización de fluidos de perforación	$ 12.3 millones	42
Tecnología de finalización	$ 8.7 millones	29
Mejora de la producción	$ 6.5 millones	22

Tetra Technologies, Inc. (TTI) - Modelo de negocio: segmentos de clientes

Empresas de exploración de petróleo y gas en alta mar y en tierra

A partir del cuarto trimestre de 2023, Tetra Technologies atiende a aproximadamente 127 compañías de exploración de petróleo y gas a nivel mundial. Los ingresos de este segmento fueron de $ 68.3 millones en 2023.

Tipo de cliente	Número de clientes	Ingresos anuales
Empresas de exploración en alta mar	62	$ 37.5 millones
Empresas de exploración en tierra	65	$ 30.8 millones

Proveedores de servicios de fractura hidráulica

TETRA atiende a 83 proveedores de servicios de fractura hidráulica, generando $ 45.2 millones en ingresos para 2023.

• Mercados primarios: cuenca de Pérmico
• Eagle Ford Shale
• Formación Bakken

Instalaciones de tratamiento de agua industrial

El segmento de tratamiento de agua industrial generó $ 22.7 millones en 2023, sirviendo a 54 instalaciones.

Tipo de instalación	Número de clientes	Valor de contrato promedio
Tratamiento municipal de agua	24	$425,000
Plantas de procesamiento industrial	30	$575,000

Empresas de desarrollo de infraestructura energética

El segmento de infraestructura energética representaba $ 31.6 millones en ingresos para 2023, con 41 clientes activos.

• Empresas de construcción de tuberías
• Desarrolladores de infraestructura de Midstream
• Empresas de proyectos de energía renovable

Organizaciones de remediación ambiental

El segmento de servicios ambientales generó $ 15.4 millones en 2023, atendiendo a 36 organizaciones de remediación.

Tipo de remediación	Número de clientes	Valor promedio del proyecto
Contaminación del suelo	18	$275,000
Tratamiento de agua subterránea	12	$425,000
Limpieza del sitio industrial	6	$675,000

Tetra Technologies, Inc. (TTI) - Modelo de negocio: Estructura de costos

Inversiones de investigación y desarrollo

Para el año fiscal 2023, Tetra Technologies, Inc. reportó gastos de I + D de $ 12.4 millones, lo que representa el 4.7% de los ingresos totales.

Año	Gasto de I + D	Porcentaje de ingresos
2023	$ 12.4 millones	4.7%
2022	$ 10.9 millones	4.3%

Fabricación y mantenimiento de equipos

Los costos de mantenimiento y fabricación de equipos para Tetra Technologies en 2023 totalizaron $ 45.6 millones.

• Depreciación anual del equipo: $ 18.2 millones
• Mantenimiento de la instalación de fabricación: $ 7.3 millones
• Reparación y reemplazo de equipos: $ 20.1 millones

Costos de personal y experiencia técnica

Los gastos totales de personal para 2023 fueron de $ 87.3 millones, con una compensación promedio de empleados de $ 95,400.

Categoría de personal	Número de empleados	Compensación total
Personal técnico	425	$ 45.6 millones
Personal administrativo	215	$ 22.7 millones
Ventas y marketing	180	$ 19.0 millones

Infraestructura tecnológica y plataformas digitales

Las inversiones en infraestructura tecnológica en 2023 ascendieron a $ 16.5 millones.

• Computación y almacenamiento en la nube: $ 6.2 millones
• Sistemas de ciberseguridad: $ 4.3 millones
• Desarrollo de la plataforma digital: $ 6.0 millones

Gastos operativos y logísticos globales

Los costos operativos globales para Tetra Technologies en 2023 alcanzaron los $ 62.8 millones.

Categoría de gastos operativos	Cantidad
Envío y logística internacional	$ 24.6 millones
Almacén y distribución	$ 18.2 millones
Cumplimiento global y reglamentación	$ 20.0 millones

Tetra Technologies, Inc. (TTI) - Modelo de negocios: flujos de ingresos

Venta de equipos y arrendamiento

Para el año fiscal 2023, Tetra Technologies informó ingresos por ventas de equipos de $ 153.4 millones. El segmento de arrendamiento de equipos de la compañía generó $ 42.6 millones en ingresos.

Categoría de equipo	Ingresos anuales
Equipo de finalización	$ 87.2 millones
Equipo de gestión de fluidos	$ 66.2 millones
Equipo de alquiler especializado	$ 42.6 millones

Contratos de servicio para la gestión de fluidos

Tetra Technologies generó $ 98.7 millones de contratos de servicio de gestión de fluidos en 2023.

• Servicios de gestión del agua producidos: $ 45.3 millones
• Servicios de fluido de fractura hidráulica: $ 53.4 millones

Licencias de tecnología y tarifas de consultoría

Los ingresos por licencias y consultoría de tecnología totalizaron $ 23.5 millones para el año fiscal 2023.

Categoría de licencias	Ganancia
Licencias de tecnología química	$ 12.6 millones
Servicios de consultoría de ingeniería	$ 10.9 millones

Tratamiento de agua y ventas de soluciones químicas

El tratamiento de agua y las ventas de soluciones químicas alcanzaron los $ 76.2 millones en 2023.

• Tratamientos químicos especializados: $ 41.5 millones
• Soluciones de tratamiento de agua: $ 34.7 millones

Ingresos de servicios de ingeniería especializados

Los servicios especializados de ingeniería generaron $ 35.6 millones en ingresos durante 2023.

Tipo de servicio de ingeniería	Ingresos anuales
Servicios de caracterización del depósito	$ 18.3 millones
Consultoría de ingeniería de petróleo	$ 17.3 millones

TETRA Technologies, Inc. (TTI) - Canvas Business Model: Value Propositions

You're looking at how TETRA Technologies, Inc. (TTI) creates value for its customers right now, late in 2025. It's a mix of core oilfield services and emerging critical minerals/water tech. The numbers tell a clear story about where the focus is.

Superior wellbore performance with high-density, low-solids completion fluids.

The deepwater business, which relies heavily on these specialized fluids, is performing well. Through the first nine months of 2025, the Completion Fluids & Products segment achieved an adjusted EBITDA margin of 34.5%, which is a 500 basis point improvement over the same nine-month period in 2024. This performance was directly linked to the successful completion of three deepwater wells in the Gulf of America using the proprietary TETRA CS Neptune fluid. For the third quarter alone, this segment's revenues jumped 39% year-over-year.

Sustainable water management via produced water desalination and recycling (TETRA Oasis TDS).

TETRA Technologies has commercially launched its TETRA Oasis TDS technology, moving beyond pilot stages. A field pilot program successfully treated produced water, achieving a 92% recovery rate of desalinated water with Total Dissolved Solids (TDS) levels between 40 parts per million and 200 ppm, meeting or exceeding municipal drinking water standards. The company is already engineering the first commercial-scale facility, designed to process 25,000 barrels per day. Looking ahead, the 2030 target for this segment is ambitious: building 10 water desalination plants processing over 500,000 barrels of produced water daily.

Secure, domestic supply of critical minerals like bromine, lithium, and magnesium.

The push into critical minerals is materializing through the Arkansas Evergreen Project. The facility is on schedule to begin operations by the end of 2027, projected to produce 75 million lbs. of bromine annually. TETRA Technologies invested $28 million in this Arkansas bromine processing facility during the first nine months of 2025. Resource confirmation is strong: measured and indicated bromine resources in the Evergreen Unit alone rose to 431,000 tons, a 173% increase from the prior 158,000 tons figure. Furthermore, the brine concessions revealed 2.18 million tons of measured and indicated magnesium resources for the first time.

Cost-efficient operations through automation in Water & Flowback Services.

Even with U.S. land completion activity softening-the Q3 frac activity dropped 12% sequentially-the Water & Flowback Services segment showed operational leverage. Adjusted EBITDA margins for this segment improved to 11.9% from 9.9% in the second quarter, directly crediting cost reduction and technology penetration. That's efficiency in action. Here's a quick look at the overall financial backdrop supporting these operations as of Q3 2025:

Metric (As of Q3 2025)	Amount / Rate	Period Comparison
Total Revenue	$153 million	Up 8% year-over-year
Adjusted EBITDA (Q3 2025)	$25.0 million	Up 7% year-over-year
Base Business Free Cash Flow (Q3 2025)	$5.4 million	Reported for the quarter
Net Leverage Ratio	1.2x	As of September 30, 2025

High-quality industrial chemicals like calcium chloride for diverse applications.

The industrial chemicals business, particularly calcium chloride, provided robust support, especially in Northern Europe. The strength in this area was a key driver for the overall segment performance. For instance, in Q2 2025, the success of the Northern Europe industrial chemicals season contributed to the Completion Fluids & Products adjusted EBITDA margin hitting 36.7%. The full-year 2025 revenue guidance remains firm between $620 million and $630 million, with updated Adjusted EBITDA guidance raised to between $107 million and $112 million.

The company is also securing future chemical demand; it has a preferred supply agreement through December 31, 2027, for 100% of Eos Energy Enterprises' requirement for zinc bromide products.

Finance: draft 13-week cash view by Friday.

TETRA Technologies, Inc. (TTI) - Canvas Business Model: Customer Relationships

You're looking at how TETRA Technologies, Inc. (TTI) manages its key customer interactions across its evolving business mix, which is clearly shifting toward specialty chemicals and minerals. The relationship structure is tailored to the specific demands of the oil and gas sector versus the emerging low-carbon energy and critical minerals markets. For instance, the Completion Fluids & Products segment, which serves deepwater operators, saw revenue hit $109 million in the second quarter of 2025, marking an 18% sequential growth from the first quarter of 2025.

The success in deepwater, which drives much of this relationship, is tied to specialized service delivery. The team delivered an 8% year-over-year revenue improvement in the third quarter of 2025, supported by this offshore activity. Honestly, the relationship with these large operators hinges on performance, like the successful completion of the three-well CS Neptune project in the Gulf of America using their proprietary fluid.

Here's a quick look at the performance driving these customer relationships in the core fluids business as of mid-2025:

Metric	Value (Q3 2025)	Context
Completion Fluids & Products Revenue (YoY Growth)	Increased 39%	Compared to the previous year period
Completion Fluids & Products Adjusted EBITDA Margin (9M 2025)	34.5%	A 500 basis point improvement vs. 9M 2024
Overall Company Revenue Guidance (FY 2025)	$620 million to $630 million	Full-year expectation

Long-term, multi-year contracts for deepwater completion fluid projects.

While specific multi-year contract values aren't public, the commitment to long-term supply relationships is evident in the energy storage sector, which leverages the same core chemistry expertise. TETRA Technologies, Inc. has a preferred supply agreement in place through December 31, 2027, with Eos Energy Enterprises, Inc.. This agreement locks in a significant customer relationship for their zinc bromide electrolyte product line. Under this arrangement, Eos has agreed to purchase 100% of its requirement for zinc bromide products, including TETRA PureFlow zinc bromide, and 75% of its requirement for Eos' proprietary electrolyte solution. This shows a clear strategy to embed TETRA Technologies, Inc. deep within the supply chain of emerging energy customers.

Direct sales and technical support for specialty industrial chemical clients.

For the industrial chemicals side, which includes calcium chloride, the sales approach is direct, often focused on regional strength. The Northern Europe industrial chemical sales have been noted as strong contributors to overall performance. The company competes directly in non-energy related calcium chloride markets against players like Occidental Chemical Corporation and Vitro Corporation in North America, and Nedmag B.V. in Europe. The relationships here are built on product availability and price, as is typical in these competitive markets.

Key customer bases for these specialty chemicals include:

• Water treatment end users (using sodium bromide as a biocide).
• Industrial applications for calcium chloride.
• Road maintenance and ice melt sectors.

Strategic joint development agreements for emerging critical mineral projects.

This area represents a major relationship pivot for TETRA Technologies, Inc., moving from service provider to co-developer. The company signed a term sheet in December 2025 to form a joint venture with Magrathea Metals, Inc. to produce magnesium at TETRA Technologies, Inc.'s Evergreen Project in Southwest Arkansas. This is a strategic partnership to secure domestic supply of a critical mineral.

The structure of these new mineral relationships includes:

• The Evergreen Project is scheduled to begin operations by the end of 2027, projecting 75 million lbs. of bromine annually.
• TETRA Technologies, Inc. plans to monetize other critical minerals like lithium and magnesium from the same brine resource.
• TETRA Technologies, Inc. also holds a 2.5% royalty on gross revenues from lithium produced and sold by Standard Lithium from TETRA Technologies, Inc.'s option acreage.

Finance: draft 13-week cash view by Friday.

TETRA Technologies, Inc. (TTI) - Canvas Business Model: Channels

You're looking at how TETRA Technologies, Inc. (TTI) gets its products and services to the customer, and honestly, it's a mix of direct selling, fleet operations, and strategic partnerships. The scale of their operations, targeting a full-year 2025 revenue between $620 million and $630 million, shows these channels are working hard.

Direct sales force for deepwater and industrial chemical segments globally.

For the high-value Completion Fluids & Products (CF&P) segment, which brought in $90 million in revenue in the third quarter of 2025 alone, the sales approach is definitely direct. This is where their deepwater expertise shines, especially with customers in the U.S. Gulf of America and international deepwater plays. The direct sales team pushes high-density zinc-based bromine brines and custom-blended Clear Brine Fluids (CBFs) right into those demanding downhole environments. Also, the Industrial Chemicals side, which includes calcium chloride, relies on this direct touchpoint for robust sales in Northern Europe, which contributed to the CF&P segment's 39 per cent year-over-year revenue increase for the third quarter of 2025.

Owned and operated service fleets for Water & Flowback Services in the US onshore.

The Water & Flowback Services (W&FS) division channels its services directly through its physical assets. While U.S. onshore frac activity dropped by 12 per cent sequentially, the W&FS segment revenue only declined by two per cent sequentially in Q3 2025, which speaks to the stickiness of their service contracts and the efficiency of their fleet. The division's operational footprint covers key domestic areas like Louisiana, New Mexico, Oklahoma, Pennsylvania, and Texas. The company monitors its service compression fleet 24/7 using satellite telemetry from Fleet Reliability Centers in The Woodlands, Texas, and Midland, Texas, ensuring uptime for these critical assets.

Here's a quick look at the segment performance that flows through these service channels as of Q3 2025:

Metric	Water & Flowback Services (Q3 2025)
Revenue Change (Sequential)	-2%
Adjusted EBITDA Margin	11.9%
Base Business Free Cash Flow (Q3 2025)	$5.4 million

The margin improvement to 11.9 per cent in W&FS was achieved through cost initiatives and technology penetration, which is a direct result of managing their owned fleet effectively.

Global distribution network for specialty chemicals and products.

For the specialty chemicals and products, which fall under the broader Specialty Chemicals & Minerals category, TETRA Technologies, Inc. uses a global distribution network to move calcium chloride and other products. This network supports their international market presence, which spans beyond the oil and gas sector. The company has operations on six continents, giving this distribution channel serious reach.

The geographic reach for their products and services includes:

• Onshore U.S.
• U.S. Gulf of America
• North Sea
• Mexico
• South America
• Europe (especially Northern Europe for calcium chloride)
• Asia
• Middle East
• Africa

This extensive network helps them service customers in diverse applications outside of their core oil and gas services.

Joint venture structures for new critical mineral and technology commercialization.

For the future-facing critical minerals business, TETRA Technologies, Inc. is using joint venture structures to commercialize new technology. They signed a term sheet in December 2025 to form a joint venture with Magrathea Metals, Inc. This partnership is designed to deploy Magrathea's electrolytic magnesium technology at TETRA's Evergreen Project in Southwest Arkansas. This is a key part of the ONE TETRA 2030 strategy, aiming to support the U.S. domestic supply of critical minerals.

The JV structure is tied directly to the development of the Arkansas brine resource:

• The Evergreen Project is constructing a bromine facility projected to produce 75 million lbs. of bromine annually by the end of 2027.
• The same brine resource is planned to monetize other critical minerals, specifically lithium and magnesium.
• Magrathea has secured Defense Production Act Title III funding from the Department of War to support the commercial deployment phase.

This JV is a channel to market for their mineral assets, combining Magrathea's process technology with TETRA Technologies, Inc.'s operational expertise and resource base. Finance: draft 13-week cash view by Friday.

TETRA Technologies, Inc. (TTI) - Canvas Business Model: Customer Segments

You're looking at the core customer groups TETRA Technologies, Inc. (TTI) serves as of late 2025, which is a mix of traditional energy, industrial chemicals, and emerging critical minerals/energy storage plays. The company's strategy is clearly pivoting, but the near-term revenue still relies heavily on established sectors.

For the full year 2025, TETRA Technologies, Inc. is guiding for total revenues between $610 million and $630 million, with an expected Adjusted EBITDA range of $100 million to $110 million. Trailing twelve-month revenue as of September 30, 2025, was reported at $619M.

Here is the breakdown of the key customer segments:

• Global offshore oil and gas super majors (deepwater drilling).
• Large independent US onshore oil and gas operators.
• Industrial chemical users in Northern Europe (e.g., de-icing, dust control).
• Utility-scale battery energy storage system (BESS) manufacturers (for zinc-bromide electrolyte).
• US Department of War and defense industrial base (emerging magnesium market).

The Completion Fluids & Products division, which serves the offshore and some industrial/chemical markets, was a standout performer in the second quarter of 2025. Revenue for this segment reached $109 million in Q2 2025, marking an 18% sequential growth. The adjusted EBITDA margin for this segment in Q2 2025 was 36.7%, helped by the successful completion of the three-well CS Neptune project in the Gulf of America.

The Water & Flowback Services division primarily targets US onshore operators, but this segment saw flat revenue in Q2 2025 compared to the first quarter of 2025. Management noted ongoing weakness in the U.S. onshore oil and gas markets when reporting Q3 2025 results.

For industrial chemical users, particularly in Northern Europe, TETRA Technologies, Inc. experienced a very strong season for calcium chloride sales, which contributed to the record-setting Adjusted EBITDA of $68.1 million for the first six months of 2025.

The emerging BESS customer segment is critical for the company's long-term diversification. TETRA Technologies, Inc. supplies TETRA PureFlow, an ultra-pure zinc bromide, to battery technology companies. While the ramp-up is expected to materially impact revenue starting in 2026, the market context is strong, with the Global Ultra-Pure Zinc Bromide market size valued at USD 312.5 million in 2024 and projected to reach USD 598.2 million by 2032.

The defense industrial base represents a new, strategic customer focus through a joint venture with Magrathea Metals to produce magnesium at the Evergreen Project in Southwest Arkansas. This project is also slated to produce 75 million lbs. of bromine annually by the end of 2027. Magrathea Metals has already secured Defense Production Act Title III funding from the Department of War to support its Commercial Phase 1 deployment at the site.

Here's a look at the segment performance data points we have for 2025:

Customer Segment Focus	Relevant Metric	Value / Range	Period / Status
Overall Business	Full Year 2025 Revenue Guidance	$610 million to $630 million	Guidance
Offshore Super Majors (Completion Fluids)	Completion Fluids & Products Revenue	$109 million	Q2 2025
Offshore Super Majors (Completion Fluids)	Completion Fluids & Products Adj. EBITDA Margin	36.7%	Q2 2025
US Onshore Operators (Water Services)	Water & Flowback Services Revenue Change	Flat	Q2 2025 vs Q1 2025
Industrial Chemical Users (Northern Europe)	Contribution to H1 2025 Performance	Strong Sales	H1 2025
BESS Manufacturers (Zinc-Bromide)	Revenue Impact Timing	Starting in 2026	Projection
Defense Industrial Base (Magnesium JV)	Evergreen Project Bromine Capacity	75 million lbs. annually	Projected by end of 2027

You should definitely track the segment revenue split as the company reports the next quarter, especially how much of the $153 million Q3 2025 revenue came from the high-margin Completion Fluids business versus the flat Water & Flowback Services.

Finance: draft 13-week cash view by Friday.

TETRA Technologies, Inc. (TTI) - Canvas Business Model: Cost Structure

You're looking at the hard costs TETRA Technologies, Inc. (TTI) is facing to run and grow the business as of late 2025. It's a mix of keeping the lights on for existing services and heavy investment in future growth areas like lithium and bromine.

Significant Capital Expenditures for the Arkansas Bromine/Lithium Project

The development of the Arkansas bromine processing facility, part of the larger Evergreen Project, is a major drain on capital, though management is funding it from the base business free cash flow. While the prompt suggests an approximate $44 million invested by H1 2025, the reported quarterly capital expenditures specifically for the Arkansas project show a different picture for the first half of the year. For instance, the company reported investing $11.2 million in Q1 2025 and $10.9 million in Q2 2025 for this facility expansion. Management stated they invested $22 million into the Arkansas bromine processing facility development, including site preparation and securing power, during the first half of 2025. By Q3 2025, an additional $6.0 million was invested in the project.

Here's a look at the project-specific capital deployment:

Period	Arkansas Project Investment (USD Millions)
Q1 2025	11.2
Q2 2025	10.9
H1 2025 Total (Reported)	22.0
Q3 2025	6.0

Operational Costs for Service Fleets, Including Labor and Maintenance

Operational costs are embedded within the segment results, particularly for the Water & Flowback Services Division. While specific labor and maintenance line items for the service fleets aren't itemized, cost control is a clear focus. For Water & Flowback Services in Q3 2025, adjusted EBITDA margins improved to 11.9% from 9.9% in Q2 2025, driven by increased utilization of patented automated units like TETRA SandStorm and Auto-Drillout, alongside general cost controls. This suggests that deploying automation helps mitigate rising labor or maintenance expenses by increasing efficiency and reducing manpower exposure on the well-site.

Raw Material Costs for Specialty Chemicals, Including Zinc and Bromine

The economics for the future bromine processing plant, projected to generate incremental Adjusted EBITDA of between $90 million and $115 million at full production, are based on assumptions from the 2024 Definitive Feasibility Study (DFS). A key component of these assumptions is the expectation of lower input costs. The Completion Fluids & Products segment benefits from demand for its zinc bromide battery electrolyte, which is a key end-use for the bromine being produced. The company is building the Arkansas plant to reduce reliance on third-party suppliers and gain access to a lower cost of supply for elemental bromine, a critical feedstock.

Research and Development (R&D) for New Technologies Like Desalination

TTI is actively transitioning key growth initiatives out of the pure R&D phase and into commercialization readiness. The TETRA Oasis TDS water desalination technology has completed its Front-End Engineering and Design (FEED) phase for a commercial 25,000 barrels per day facility. This completion signals a shift from initial development spending to engineering and potential upfront capital for the first modular train, with management confident in securing a first contract in early 2026.

The company's cost structure is evolving to support these new ventures:

• FEED completed for 25,000 bbl/day Oasis desalination plant.
• The transition supports a goal where Water Treatment & Desalination contributes 28% to 32% of the target revenue by 2030.
• The company is also seeing material ramp-up expected for Eos electrolyte revenue in early 2026.

General and Administrative (G&A) Expenses to Support Global Operations

General and administrative expenses are a necessary overhead for supporting global operations across Energy Services, Industrial Chemicals, and Critical Minerals. Quarterly figures show some fluctuation, but the overall trend is being managed. For example, G&A expense was $24,134 (likely in thousands of USD) in Q1 2025, increasing to $25,259 (likely in thousands of USD) in Q2 2025. However, the company is realizing savings from corporate overhead adjustments; a corporate office lease reset is expected to lower run-rate corporate expenses by approximately $2 million per year going forward.

TETRA Technologies, Inc. (TTI) - Canvas Business Model: Revenue Streams

You're looking at the hard numbers driving TETRA Technologies, Inc.'s revenue engine as we close out 2025. It's all about the mix between established oilfield services and the emerging energy storage play.

The full-year 2025 revenue guidance, as updated in late October 2025, sits between $620 million and $630 million. For context, the trailing twelve-month revenue as of September 30, 2025, was reported at $619 million.

Here's a breakdown of the key revenue drivers and their recent performance:

• Sales of Completion Fluids & Products are expected to reach a ten-year high for the full year 2025.
• The Completion Fluids & Products segment saw revenue increase 39 percent year-over-year in the third quarter of 2025.
• The Q2 2025 revenue for Completion Fluids & Products specifically was $109 million.
• Service fees from Water & Flowback Services saw revenue decline only 2 percent sequentially in Q3 2025, despite a 12 percent drop in U.S. frac activity.
• Sales of industrial calcium chloride and other specialty chemicals, part of the broader Specialty Chemicals & Minerals focus, saw growth of 5.5 percent year-over-year in Q2 2025.
• Emerging revenue from zinc-bromide electrolyte for energy storage is noted as remaining modest for the full year 2025, with a material impact projected for 2026.

Here's the quick math on segment performance through the first nine months of 2025:

Metric	Completion Fluids & Products	Water & Flowback Services
Q3 2025 Revenue Change (YoY)	Increased 39 percent	Not explicitly stated YoY, but declined 2 percent sequentially
Adjusted EBITDA Margin (9 Months 2025)	34.5 percent	Improved to 11.9 percent
Key Driver Mentioned	CS Neptune fluid completions, strong activity in Brazil	Cost initiatives and technology penetration

The company is definitely leaning into the high-margin fluid business, evidenced by the Completion Fluids & Products segment's nine-month adjusted EBITDA margin reaching 34.5 percent.

The overall financial outlook for 2025 includes an expected Adjusted EBITDA between $107 million and $112 million, up from an earlier guidance range of $100 million to $110 million.