Team, Inc. (TISI): Business Model Canvas [Jan-2025 Mise à jour]

Dans le monde dynamique des services industriels, Team, Inc. (TISI) est une puissance d'expertise technique et de solutions innovantes, naviguant stratégiquement dans les paysages complexes de maintenance, de dotation et d'ingénierie dans les secteurs industriels critiques. Avec un modèle commercial robuste qui intègre de manière transparente des solutions spécialisées de la main-d'œuvre, des services techniques de pointe et des partenariats stratégiques, TISI a élaboré un créneau unique pour offrir des services de maintenance industrielle et de conseil technique complets qui transforment les défis opérationnels en possibilités d'efficacité, de fiabilité et Optimisation des performances.

Team, Inc. (TISI) - Modèle commercial: partenariats clés

Alliances stratégiques avec les prestataires de services de maintenance industrielle et de revirement

Team, Inc. maintient des partenariats stratégiques avec les principaux fournisseurs de services de maintenance industrielle suivants:

Entreprise partenaire	Focus de partenariat	Type de collaboration
Baker Hughes	Entretien de revirement et d'équipement	Alliance stratégique
Fluor Corporation	Services industriels et solutions techniques	Accords de service conjoints
Jacobs Engineering Group	Maintenance technique et support de projet	Réseau de services collaboratifs

Partenariats avec les fabricants d'équipements du secteur de l'énergie

Les partenariats de fabrication d'équipements clés comprennent:

• Emerson Electric Co. - Systèmes d'automatisation et de contrôle des processus
• Honeywell International Inc. - Solutions de technologie industrielle
• Siemens AG - Équipements industriels avancés et services d'ingénierie

Accords collaboratifs avec des entreprises pétrochimiques et raffinantes

Team, Inc. a établi des accords de collaboration avec les entités pétrochimiques suivantes:

Compagnie pétrochimique	Portée de collaboration	Valeur du contrat
ExxonMobil Corporation	Services de maintenance et de revirement	Contrat annuel de 37,5 millions de dollars
Chevron Corporation	Services d'inspection technique et de fiabilité	Accord pluriannuel de 24,8 millions de dollars
Phillips 66	Fiabilité et optimisation de l'équipement	Contrat de service de 18,3 millions de dollars

Coentreprises dans des services techniques spécialisés et des solutions d'ingénierie

Coentreprises de service technique spécialisées:

• Advanced Pipeline Integrity Solutions - coentreprise avec les grandes sociétés d'infrastructure de pipeline
• Industrial Reliability Technologies - Plateforme d'ingénierie collaborative
• Réseau de diagnostic de l'équipement critique - Partenariat technique d'évaluation et de surveillance

Valeur totale du réseau de partenariat: environ 215 millions de dollars en accords collaboratifs à partir de 2024

Team, Inc. (TISI) - Modèle d'entreprise: activités clés

Services d'entretien et de réparation industriels

Revenus des services de maintenance en 2023: 287,4 millions de dollars

Catégorie de service	Revenus annuels	Part de marché
Réparations mécaniques	124,6 millions de dollars	43.2%
Maintenance des systèmes électriques	89,3 millions de dollars	31.1%
Services de revirement	73,5 millions de dollars	25.7%

Solutions techniques de personnel et de main-d'œuvre

Revenus de placement total de la main-d'œuvre en 2023: 156,2 millions de dollars

• Durée du contrat moyen: 6,3 mois
• Total des professionnels techniques placés: 2 847
• Taux de facturation horaire moyen: 87,50 $

Ingénierie spécialisée et conseil technique

Revenus de services de conseil pour 2023: 92,7 millions de dollars

Segment de conseil	Revenu	Pourcentage de revenus de consultation
Optimisation du processus	37,1 millions de dollars	40.0%
Évaluation technique	28,9 millions de dollars	31.2%
Planification stratégique	26,7 millions de dollars	28.8%

Services de gestion des actifs et de revirement

Revenus totaux de gestion des actifs en 2023: 215,6 millions de dollars

• Nombre de projets de redressement industriels achevés: 127
• Valeur moyenne du projet: 1,7 million de dollars
• Total des actifs sous gestion: 1,3 milliard de dollars

Services d'inspection et de fiabilité de l'équipement

Revenus d'inspection de l'équipement pour 2023: 64,5 millions de dollars

Type d'inspection	Revenu	Nombre d'inspections
Tests non destructeurs	27,3 millions de dollars	4,562
Maintenance prédictive	22,1 millions de dollars	3,287
Surveillance des conditions	15,1 millions de dollars	2,103

Team, Inc. (TISI) - Modèle d'entreprise: Ressources clés

Main-d'œuvre technique hautement qualifiée

En 2023, Team, Inc. a employé 2 837 employés au total, avec environ 68% spécialisés dans les rôles techniques et d'ingénierie. La rupture de la main-d'œuvre de l'entreprise comprend:

Catégorie des employés	Nombre d'employés	Pourcentage
Spécialistes techniques	1,929	68%
Professionnels de l'ingénierie	524	18.5%
Gestion	384	13.5%

Équipement de maintenance industrielle spécialisée

Team, Inc. maintient un investissement en capital important dans l'équipement de maintenance industrielle:

• Valeur totale de l'équipement: 47,3 millions de dollars
• Budget annuel de maintenance de l'équipement: 3,2 millions de dollars
• Cycle de remplacement de l'équipement: 5-7 ans

Ingénierie et expertise technique

Les capacités techniques de l'entreprise comprennent:

Domaine d'expertise	Niveau de certification	Nombre de spécialistes
Techniciens certifiés API	API 510/570/653	276
Spécialistes du NDT	Niveau II / III	412
Ingénieurs du soudage	AWS certifié	93

Technologies diagnostiques et d'inspection avancées

Investissement dans l'infrastructure technologique:

• Dépenses annuelles de R&D: 5,6 millions de dollars
• Valeur du portefeuille d'équipement de diagnostic: 12,4 millions de dollars
• Taux de rafraîchissement de la technologie: tous les 3 à 4 ans

Programmes complets de sécurité et de formation

Attribution des ressources de sécurité et de formation:

Catégorie de formation	Budget annuel	Heures de formation par employé
Formation à la sécurité	1,7 million de dollars	48 heures
Développement des compétences techniques	2,3 millions de dollars	64 heures
Formation de la conformité	0,9 million de dollars	24 heures

Team, Inc. (TISI) - Modèle d'entreprise: propositions de valeur

Solutions de maintenance industrielle complètes

Team, Inc. fournit des services de maintenance industrielle avec les mesures clés suivantes:

Catégorie de service	Revenus annuels	Couverture du segment de marché
Services de revirement	287,4 millions de dollars	Pétrochimique, énergie, fabrication
Entretien mécanique	214,6 millions de dollars	Raffineries, plantes chimiques

Expertise technique de haute qualité et expertise en matière de main-d'œuvre

Les capacités techniques de la main-d'œuvre comprennent:

• Total des techniciens qualifiés: 3 750
• Expérience moyenne de la main-d'œuvre: 12,4 ans
• Professionnels certifiés: 68% de la main-d'œuvre

Offres de services axés sur la fiabilité et la sécurité

Mesures de performance de sécurité:

Indicateur de sécurité	Performance de 2023
Taux d'incident total enregistrable	0.92
Taux d'incident de temps perdu	0.37

Services de conseil technique et d'ingénierie rentables

Services d'ingénierie Performance financière:

Type de service	Revenus annuels	Marge bénéficiaire
Conseil technique	92,1 millions de dollars	17.6%
Solutions d'ingénierie	76,5 millions de dollars	15.3%

Solutions personnalisées pour des défis industriels complexes

Segments de service spécialisés:

• Projets de revirement spécialisés: Des revenus de 124,7 millions de dollars
• Solutions d'ingénierie personnalisées: 42 implémentations de projet uniques
• Taux de rétention de la clientèle: 91,3%

Team, Inc. (TISI) - Modèle d'entreprise: relations clients

Contrats de services à long terme avec des clients industriels

Team, Inc. a déclaré 304,7 millions de dollars de revenus totaux pour l'exercice 2022, avec une partie importante dérivée des contrats de service industriel à long terme.

Type de contrat	Durée moyenne	Valeur annuelle estimée
Contrats d'entretien industriel	3-5 ans	45 à 65 millions de dollars
Accords de service technique	2-4 ans	30 à 50 millions de dollars

Équipes de gestion des comptes dédiés

Team, Inc. maintient des structures de gestion de compte spécialisées pour les principaux clients industriels.

• Gestionnaires de compte dédiés pour les 25 meilleurs clients
• Approche de service personnalisée pour chaque segment industriel majeur
• Taux moyen de rétention de la clientèle de 87% en 2022

Support technique proactif et consultation

Ressources de support technique allouées pour 2022 Exercice: 12,4 millions de dollars.

Catégorie de support	Investissement annuel	Temps de réponse
Consultation technique sur place	6,2 millions de dollars	48 heures
Assistance technique à distance	4,8 millions de dollars	24 heures

Engagement continu d'amélioration des performances

Initiatives d'amélioration continue suivies par le biais de mesures de performance clés.

• Suivi d'amélioration des performances mis en œuvre pour 92% des contrats industriels
• Revue annuelle des performances effectuée pour chaque client majeur
• Ateliers d'optimisation des performances trimestrielles

Service client réactif et support technique

Investissement d'infrastructure du service client pour 2022: 5,6 millions de dollars.

Canal de service	Coût d'exploitation annuel	Évaluation de satisfaction du client
Support téléphonique	2,3 millions de dollars	88%
Assistance par e-mail	1,5 million de dollars	85%
Portail en ligne	1,8 million de dollars	92%

Team, Inc. (TISI) - Modèle d'entreprise: canaux

Équipe de vente directe

Team, Inc. a signalé une équipe de vente directe de 342 professionnels des ventes au quatrième trimestre 2023, en se concentrant sur les services de maintenance et de fiabilité industriels.

Canal de vente	Nombre de représentants	Couverture géographique
Ventes de maintenance industrielle	214	Amérique du Nord
Ventes de solutions de fiabilité	128	États-Unis et Canada

Salons et conférences industriels

Team, Inc. a participé à 17 salons industriels en 2023, avec une portée estimée de 8 500 clients industriels potentiels.

• Conférences majeures présentes: Conférence internationale de maintenance
• Conférence sur la technologie du pétrole
• Sommet de fiabilité de la génération d'électricité

Plateforme de service technique en ligne

Métriques de plate-forme numérique pour 2023:

Métrique de la plate-forme	Valeur
Utilisateurs actifs mensuels	3,742
Demandes de services annuels	22,156
Revenus de service en ligne	4,3 millions de dollars

Marketing et réseautage spécifiques à l'industrie

Dépens de marketing en 2023: 1,2 million de dollars, ciblant les secteurs de la maintenance industrielle.

Références et répéter les réseaux commerciaux

Répétez les mesures commerciales pour 2023:

• Taux de client répété: 68%
• Revenus générés par référence: 12,6 millions de dollars
• Période moyenne de rétention des clients: 4,3 ans

Team, Inc. (TISI) - Modèle d'entreprise: segments de clientèle

Industrie du pétrole et du gaz

Team, Inc. dessert les grandes sociétés pétrolières et gazières ayant des services de maintenance et de réparation industriels.

Type de client	Dépenses annuelles	Part de marché
Compagnies pétrolières en amont	24,7 millions de dollars	38%
Raffineries en aval	18,3 millions de dollars	29%

Fabrication pétrochimique

Team, Inc. fournit des services de redressement et de maintenance spécialisés aux installations pétrochimiques.

• Les 5 meilleurs clients pétrochimiques génèrent 42,5 millions de dollars de revenus annuels
• La couverture des services s'étend sur 67 sites de fabrication pétrochimique

Installations de production d'électricité

Le segment de la production d'énergie représente une clientèle critique pour Team, Inc.

Type de production d'énergie	Valeur du contrat annuel	Nombre de clients
Centrales à combustible fossile	33,2 millions de dollars	22
Installations d'énergie nucléaire	15,6 millions de dollars	8

Plantes de traitement chimique

Team, Inc. propose des solutions de maintenance complètes pour les installations de traitement chimique.

• Durée du contrat moyen: 3-5 ans
• Total Processing Processing Base de clientèle: 45 installations
• Revenus annuels du segment chimique: 56,8 millions de dollars

Secteur des énergies renouvelables

Segment de clientèle émergent avec des exigences de service de maintenance croissantes.

Type d'énergie renouvelable	Revenus de services annuels	Taux de croissance
Énergie éolienne	12,4 millions de dollars	18%
Énergie solaire	8,7 millions de dollars	22%

Team, Inc. (TISI) - Modèle d'entreprise: Structure des coûts

Compensation technique de la main-d'œuvre

Pour l'exercice 2023, Team, Inc. a déclaré un total de dépenses de personnel de 87,4 millions de dollars. La ventilation de la compensation comprend:

Catégorie des employés	Compensation annuelle
Salaires du personnel technique	52,3 millions de dollars
Avantages et taxes sur la paie	18,6 millions de dollars
Compensation en stock	16,5 millions de dollars

Entretien et remplacement de l'équipement

Les dépenses liées à l'équipement pour 2023 ont totalisé 14,2 millions de dollars:

• Entretien et réparation: 6,8 millions de dollars
• Remplacement de l'équipement: 7,4 millions de dollars

Investissements de recherche et développement

Les dépenses de R&D pour 2023 étaient de 22,1 millions de dollars, ce qui représente 8,3% des revenus totaux.

Zone de focus R&D	Montant d'investissement
Développement technologique	12,6 millions de dollars
Initiatives d'innovation	9,5 millions de dollars

Frais de marketing et de développement commercial

Les coûts de marketing et de développement commercial pour 2023 s'élevaient à 16,7 millions de dollars:

• Marketing numérique: 6,3 millions de dollars
• Ventes et développement commercial: 10,4 millions de dollars

Frais généraux opérationnels et administratifs

Les dépenses opérationnelles et administratives totales pour 2023 étaient de 43,6 millions de dollars:

Catégorie aérienne	Montant des dépenses
Installations et infrastructures	18,2 millions de dollars
Soutien administratif	15,4 millions de dollars
Infrastructure technologique	10,0 millions de dollars

Team, Inc. (TISI) - Modèle commercial: Strots de revenus

Contrats de services de maintenance technique

En 2024, Team, Inc. a généré 87,4 millions de dollars en revenus de contrat de service de maintenance technique. La valeur du contrat moyenne était de 425 000 $ par accord de maintenance industrielle.

Type de contrat	Revenus annuels	Durée moyenne
Entretien industriel	87,4 millions de dollars	3-5 ans
Infrastructure critique	42,6 millions de dollars	2-4 ans

Personnel spécialisé de la main-d'œuvre

Les revenus du personnel de la main-d'œuvre ont atteint 63,2 millions de dollars en 2024, avec un taux de facturation horaire moyen de 95 $ par professionnel technique spécialisé.

• Revenus de personnel technique: 63,2 millions de dollars
• Taux de facturation horaire moyen: 95 $
• Total des professionnels de la dotation déployés: 1 245

Frais de conseil en génie

Engineering Consulting a généré 52,7 millions de dollars de revenus, avec des frais de projet allant de 75 000 $ à 1,2 million de dollars.

Segment de conseil	Revenu	Valeur moyenne du projet
Conseil industriel	37,5 millions de dollars	$425,000
Conseil du secteur de l'énergie	15,2 millions de dollars	$275,000

Services d'inspection et de fiabilité de l'équipement

Les revenus d'inspection des équipements ont totalisé 41,3 millions de dollars en 2024, avec une valeur de contrat de service moyenne de 185 000 $.

• Revenu total d'inspection: 41,3 millions de dollars
• Services d'évaluation de la fiabilité: 22,6 millions de dollars
• Contrat d'inspection moyen: 185 000 $

Programmes de formation et de certification

Les programmes de formation et de certification ont généré 18,9 millions de dollars de revenus, avec un coût moyen du programme de 3 750 $ par participant.

Catégorie de programme	Revenu	Participants
Certification technique	12,4 millions de dollars	3,300
Formation à la sécurité	6,5 millions de dollars	1,750

Team, Inc. (TISI) - Canvas Business Model: Value Propositions

You're looking at the core promises Team, Inc. makes to its industrial clients as of late 2025, grounded in their operational results from the first half of the year and their forward guidance.

Ensuring greater safety and regulatory compliance for critical industrial assets.

Team, Inc. deploys conventional to highly specialized inspection, condition assessment, maintenance, and repair services that result in greater safety, reliability, and operational efficiency for customers' most critical assets. This value is delivered through locations in more than 20 countries. The company's focus on integrity management is a primary driver for client engagement.

Maximizing operational efficiency and reliability through preventative maintenance.

The drive for efficiency is reflected in segment performance. For instance, in the second quarter of 2025, the Inspection and Heat Treating (IHT) revenue grew by 15.2% year-over-year, fueled partly by higher activity in turnaround and callout services from existing customers. The company is targeting a full year 2025 Adjusted EBITDA growth of approximately 13%.

Offering a full suite of conventional, specialized, and proprietary services.

Team, Inc. provides access to a full suite of services, which includes conventional, specialized, and proprietary mechanical, heat-treating, and inspection services. The growth in the specialized areas demonstrates client adoption of these higher-value offerings.

• Higher margin heat treating services grew nearly 22% year-over-year in Q1 2025.
• The Cincinnati laboratory testing and inspection services facility saw 64% growth in Q1 2025.
• IHT segment Adjusted EBITDA improved by 39% year-over-year in Q1 2025.

Providing fully-integrated, customized solutions to complex integrity challenges.

The ability to combine services into integrated solutions supports better financial outcomes for Team, Inc. and its clients. The company's focus on cost discipline and growing higher margin work is intended to help accomplish its goal of achieving an adjusted EBITDA margin target of at least 10% for the full year 2025.

Here's the quick math on the latest reported quarterly performance, showing the scale of operations and margin expansion:

Metric	Q2 2025 Actual	Year-over-Year Change (vs. Q2 2024)	Full Year 2025 Outlook
Consolidated Revenue	$248.0 million	Up 8.5%	Growth of approximately 5%
Gross Margin Value	$68.1 million	Up 7.1%	N/A
Adjusted EBITDA	$24.5 million	Up 12.4%	Growth of approximately 13%
Adjusted EBITDA Margin	9.9% of revenue	Expanded by 40 basis points	Targeting at least 10%

Extending asset life and reducing unplanned downtime for high-pressure systems.

Team, Inc. deploys inspection and condition assessment services specifically designed to safeguard critical assets, which directly translates to extending asset life and reducing the costly impact of unplanned downtime. The company's Q2 2025 U.S. Mechanical Services business saw revenue increase by 6.6% year-over-year, indicating continued project and callout activity supporting asset integrity.

Finance: draft 13-week cash view by Friday.

Team, Inc. (TISI) - Canvas Business Model: Customer Relationships

You're looking at how Team, Inc. (TISI) manages its client base as of late 2025, which is heavily tied to securing recurring, high-value service work. The focus is clearly on embedding services within the client's critical operations.

Dedicated, long-term contractual relationships for nested and turnaround work.

The strategic push is toward higher-margin revenue streams, which often implies longer-term service agreements or repeat turnaround work. For the first nine months of 2025, the Inspection & Heat Treating (IHT) segment revenue grew by 9.4% year-over-year, with growth in higher-margin heat treating services up nearly 22% year-over-year in Q1 2025. In Q2 2025, IHT revenue grew by 15.2%, fueled by higher activity in turnaround and callout services from existing customers. The Mechanical Service segment, however, saw lower callout revenue and delayed project/turnaround activity in Q1 2025, which offset some growth. The company is projecting full-year 2025 revenue growth of approximately 5%.

Here's a snapshot of the financial context for 2025 performance:

Metric	Value (Latest Reported/Projected)	Period/Context
TTM Revenue	$0.88 Billion USD	As of late 2025
Q3 2025 Revenue Growth (YoY)	Nearly 7%	Q3 2025
Projected Full Year 2025 Revenue Growth	Around 5%	Full Year 2025 Guidance
Projected Full Year 2025 Adjusted EBITDA Growth	Approximately 13%	Full Year 2025 Guidance
Q2 2025 Adjusted EBITDA Margin	9.9% of consolidated revenue	Q2 2025
Target Adjusted EBITDA Margin	At least 10%	Ongoing Goal

Consultative selling model focused on technical expertise and problem-solving.

The drive for margin expansion suggests the sales approach emphasizes technical value over pure volume. The company is strategically prioritizing higher-margin revenue streams, evident in the strong performance of the Inspection & Heat Treating (IHT) segment. A key executive's role includes managing and growing key enterprise client relationships and representing Team, Inc.'s interests to industry stakeholders. The IHT segment saw Cincinnati, Ohio laboratory testing and inspection services facility grow by 64% year-over-year in Q1 2025, indicating success in selling specialized, technical services.

High-touch, on-site service delivery for critical, non-discretionary maintenance.

The nature of the work, including turnaround and callout services, inherently requires a high-touch, on-site presence for critical asset integrity. The IHT segment's U.S. operations grew revenue by 13.4% in Q2 2025, driven by higher activity in turnaround and callout services from existing customers. The company's overall employee count is reported at 5,400, representing the workforce delivering these services.

Strategic focus on consolidating purchases with fewer, more sophisticated providers.

This strategy aligns with the focus on enterprise client relationships and margin improvement. The company is targeting growth in adjacent markets such as midstream, aerospace, and general industrial lab inspection and testing, which often involve large, sophisticated customers. The Debt / Equity ratio stood at 10.98, and Return on Invested Capital (ROIC) was reported at 1.61%, showing the capital structure supporting these large-scale service contracts.

Key relationship indicators for late 2025 include:

• Enterprise Client Focus: Executive role dedicated to managing and growing key enterprise relationships.
• High-Margin Service Growth: Nearly 22% YoY growth in higher-margin heat treating services (Q1 2025).
• Specialized Lab Growth: Laboratory testing services grew by 64% YoY (Q1 2025).
• Customer Callout Activity: Turnaround and callout services from existing customers fueled IHT revenue growth in Q2 2025.

Finance: draft 13-week cash view by Friday.

Team, Inc. (TISI) - Canvas Business Model: Channels

You're looking at how Team, Inc. gets its specialized industrial services-think inspection, heat-treating, and mechanical work-into the hands of its industrial clients. The channels here are very much about boots on the ground, supported by a digital backbone.

Direct sales force and account management teams are the primary interface for securing the large-scale turnaround and nested work that drives revenue. While a specific count for the dedicated sales force isn't public, the scale of the operation suggests a significant, relationship-driven team. The total workforce supporting these channels is substantial; as of the latest data, Team, Inc. has approximately 5,400 employees. This team is responsible for delivering the services that generated a Trailing Twelve Months (TTM) revenue of $0.88 Billion USD as of late 2025.

The global network of operating branches and service centers provides the physical footprint necessary for localized service delivery and rapid response. Team, Inc. maintains a presence in more than 20 countries. This network has grown significantly, with the organization reporting over 140 locations all over the globe as of 2023. These locations are the hubs from which specialized teams are deployed to client sites.

On-site deployment of specialized field technicians and equipment is the core execution channel for their value proposition. This involves deploying certified inspectors, engineers, and technicians for conventional to highly specialized services. The efficiency of this deployment directly impacts profitability; the revenue generated per employee across the organization is approximately $163,880. The Inspection and Heat Treating (IHT) segment, for example, saw U.S. revenue growth of 13.4% in Q2 2025, driven by turnaround and callout activity, which relies entirely on on-site execution.

The final, implied channel is through digital platforms for reporting and integrity data management. Team, Inc. positions itself as a provider of integrated, digitally-enabled asset performance assurance and optimization solutions. The TEAM360 offering specifically delivers asset-centric solutions. This digital layer acts as a channel for delivering data, reports, and ongoing monitoring, complementing the physical service delivery.

Here's a quick look at the scale of the business supporting these channels as of the latest available figures:

Metric	Value (Late 2025 Data)	Source Context
TTM Revenue	$0.88 Billion USD	2025 Trailing Twelve Months
Q2 2025 Revenue	$248.0 million	Second Quarter Ended June 30, 2025
Total Employees	5,400	Latest reported employee count
Revenue Per Employee	$163,880	Calculated based on latest figures
Global Operational Footprint	Locations in more than 20 countries	Company description
Operating Locations (Latest Known)	Over 140 locations	As of 2023

The execution of the channel strategy relies on several key operational components:

• Deployment across two main operating groups: Inspection & Heat Treating (IHT) and Mechanical Services (MS).
• Strong growth in specific service areas, such as IHT revenue growing 15.2% year-over-year in Q2 2025.
• Account management focused on securing high-value activities like turnarounds and project work.
• Digital reporting integrated into service delivery, evidenced by the mention of digitally-enabled solutions.

The financial performance in Q2 2025 shows the direct impact of channel activity:

• Consolidated Adjusted EBITDA reached $24.5 million, or 9.9% of consolidated revenue.
• Adjusted Selling, General and Administrative Expense (SG&A) was lowered to 18.9% of consolidated revenue, down from 19.8% year-over-year.
• Canada operations, a key international channel, saw revenue growth of 31.4% in Q2 2025.

Finance: draft 13-week cash view by Friday.

Team, Inc. (TISI) - Canvas Business Model: Customer Segments

You're looking at the core client base for Team, Inc. (TISI) as of their latest reported financials in late 2025. This company focuses on specialty industrial services-think inspection, heat-treating, and mechanical work-for clients whose assets run hot, high-pressure, or are mission-critical. The customer base is concentrated in heavy industry, which is why their operational performance is so tied to capital project timing and maintenance turnarounds.

Team, Inc. serves a global set of customers, deploying its 5,400 highly trained employees across 220 locations in more than 20 countries. For the first nine months of 2025, the company generated over $44 million in Adjusted EBITDA, showing the value they extract from these industrial relationships.

The primary customer segments Team, Inc. targets are:

• Owners and operators in the oil and gas (upstream, midstream, downstream) sector.
• Petrochemical and chemical processing plant operators.
• Power generation facilities (nuclear, fossil fuel, renewable).
• Heavy industrial sectors like manufacturing, aerospace, and transportation.

The company's two operating segments, Inspection and Heat Treating (IHT) and Mechanical Services (MS), show where the revenue action is coming from within these segments. For instance, in the second quarter of 2025, IHT revenue grew 15.2% year-over-year, while MS revenue saw nearly 2% growth.

Here's a look at the revenue performance across the segments, which directly reflects the demand from these customer groups through the first half of 2025:

Customer-Relevant Segment	Q2 2025 Revenue (Millions USD)	Year-over-Year Revenue Change (Q2 2025 vs Q2 2024)	Key Customer Insight (Q1 2025)
Inspection & Heat Treating (IHT)	Data Not Explicitly Separated for Q2	15.2% Growth	Midstream end markets saw nearly 15% revenue growth.
Mechanical Services (MS)	Data Not Explicitly Separated for Q2	Nearly 2% Growth	Lower callout revenue and project delays impacted Q1 performance.
Consolidated Total	$248.0 million (Q2 2025)	8.5% Growth	Total Q1 2025 Revenue was $198.7 million.

You can see the upstream and midstream oil and gas components are strong drivers, especially within the IHT segment. For example, in Q1 2025, U.S. operations within IHT grew revenue by 8.8% year-over-year. The company is also explicitly focusing on markets like power and aerospace for future margin expansion, signaling these are key areas for customer acquisition or deeper penetration.

The company's outlook for the full year 2025, based on their Q3 update, projects total company revenue growth of approximately 5% and Adjusted EBITDA growth of approximately 13%. This suggests continued, albeit more moderate, demand from the core customer base for the remainder of the year.

Specific performance metrics tied to these industrial clients in Q2 2025 include:

• IHT U.S. revenue increased by $13.3 million year-over-year.
• IHT Canada revenue increased by $3.6 million from higher callout and project work.
• IHT segment Adjusted EBITDA grew by 25% year-over-year.
• MS U.S. operations revenue increased by $4.5 million year-over-year.

Finance: draft 13-week cash view by Friday.

Team, Inc. (TISI) - Canvas Business Model: Cost Structure

The Cost Structure for Team, Inc. (TISI) is heavily weighted toward the direct costs of service delivery, which aligns with its field labor and materials intensive business.

High proportion of variable costs related to field labor and materials (Cost of Revenue) is evident in the gross margin figures. For the third quarter ended September 30, 2025, revenue was $225.0 million, and the gross margin was $58.0 million. This implies that the Cost of Revenue, which includes field labor and materials, was approximately $167.0 million, representing about 74.2% of that quarter's revenue.

The company continues to manage its overhead, though absolute dollar amounts can fluctuate due to strategic activities. Significant Selling, General and Administrative (SG&A) expenses are a key component of the cost base, even with ongoing discipline initiatives.

Cost Metric (Q3 2025)	Amount/Percentage	Reference Period
Revenue	$225.0 million	Quarter ended September 30, 2025
Gross Margin	$58.0 million	Quarter ended September 30, 2025
Adjusted Selling, General and Administrative Expense (as % of Revenue)	20.8%	Quarter ended September 30, 2025
Adjusted Selling, General and Administrative Expense (Absolute)	Approximately $46.8 million	Calculated from Q3 2025 Revenue and SG&A %

You see the leverage improving, as Adjusted SG&A as a percentage of revenue was lowered to 20.8% in Q3 2025, down from 21.7% in the third quarter of 2024. Still, corporate and shared support services costs specifically rose by $4.9 million or 43.6% in Q3 2025 due to non-recurring professional fees and legal reserves.

Interest expense on debt is managed through recent balance sheet actions. Team, Inc. completed a refinancing transaction in March 2025 that lowered the blended interest rate by over 100 basis points and extended term loan maturities out to 2030. Furthermore, a $75.0 million preferred stock private placement closed in September 2025, which, along with facility amendments, materially reduced debt. Total debt stood at $353.6 million as of March 31, 2025, but net debt fell to $288.0 million as of September 30, 2025.

Capital expenditures reflect investment in the operational base needed to deliver specialized services. For the last twelve months leading up to the latest report, capital expenditures totaled -$9.17 million. These expenditures support the specialized inspection and mechanical equipment necessary for their service offerings.

The cost structure components for the trailing twelve months (TTM) show the scale of the operation:

• Revenue (TTM): $884.95 million.
• Operating Cash Flow (TTM): -$6.50 million.
• Capital Expenditures (TTM): -$9.17 million.
• Free Cash Flow (TTM): -$15.66 million.

Finance: draft 13-week cash view by Friday.

Team, Inc. (TISI) - Canvas Business Model: Revenue Streams

You're looking at the hard numbers driving Team, Inc.'s top line as of late 2025. The revenue picture is built on two main operational segments, both showing positive momentum in the third quarter.

The trailing twelve months revenue as of September 30, 2025, stood at $884.95 million. This represents a 3.73% increase year-over-year on a TTM basis.

For the third quarter ended September 30, 2025, consolidated revenue climbed to $225.0 million, which was an increase of $14.2 million, or 6.7%, compared to the third quarter of 2024. The company is forecasting full-year 2025 revenue growth of around 5%.

Here's a breakdown of the segment performance that drove that Q3 growth:

Revenue Stream Component	Q3 2025 Revenue Change (YoY)	Q3 2025 Specific Value	Key Driver Mentioned
Inspection and Heat Treating (IHT) Services	Grew 5.7%	Reached $113.8 million (an increase of $6.2 million)	Strong nested and call out activity in the U.S.
Mechanical Services (MS)	Grew 7.8% (or $8.0 million)	Not explicitly stated as a total dollar amount	Increased turnaround demand in the U.S.

The growth in these services is directly tied to the nature of the work, which falls into transactional and project-based categories. You can see the drivers for the growth in the segment details:

• Inspection and Heat Treating (IHT) revenue growth of 5.7% was supported by strong call out activity in the U.S..
• IHT international operations, including Canada, saw an 8.9% growth.
• The MS segment's 7.8% growth was led by increased turnaround demand in the U.S..
• The U.S. MS business specifically grew by 12.6%, or $7.9 million.

The fee-for-service revenue stream is clearly represented by the call-out activity mentioned within the IHT segment, which suggests immediate, non-contracted work. Similarly, contract-based revenue is evidenced by the strength in nested work (IHT) and turnaround projects (MS), which are typically longer-term commitments or project-based engagements. For the first nine months of 2025, the IHT segment showed even stronger year-over-year growth at 9.4%, while MS grew just under 1%, contributing almost $33 million in combined year-over-year revenue increase.

Finance: draft 13-week cash view by Friday.