v3.26.1
Note 1 - Business Description
6 Months Ended
Jun. 30, 2026
Notes to Financial Statements  
Business Description and Basis of Presentation [Text Block]

1.

Business description

 

On July 13, 2026, Expro Ltd, a newly-formed Cayman Islands exempted company (“Expro Ltd”), became the new parent company of the Expro subsidiaries through a series of transactions (the “Redomicile”), including a cross-border legal merger whereby Expro Group Holdings N.V. merged with and into its subsidiary, Expro Luxembourg S.A., followed thereafter on the same day by a merger of Expro Luxembourg S.A. with and into Expro Ltd. Each outstanding share of common stock of Expro Group Holdings N.V. was automatically converted into one ordinary share of Expro Ltd. On July 14, 2026, the ordinary shares began trading on the NYSE under the existing ticker symbol "XPRO."

 

With roots dating to 1938, Expro Group Holdings N.V. (the “Company,” “Expro,” “we,” “our” or “us”) is a global provider of energy services with operations in over 60 countries. The Company’s portfolio of capabilities includes products and services related to well construction, well flow management, subsea well access, and well intervention and integrity. The Company’s portfolio of products and services enhance production and improve recovery across the well lifecycle, from exploration through abandonment.

 

On October 30, 2025, the Company’s Board of Directors (the “Board”) approved a new stock repurchase program, pursuant to which the Company was authorized to acquire up to $100.0 million of its outstanding common stock from October 30, 2025 through December 31, 2026 (the “Stock Repurchase Program”). On July 13, 2026, the remaining authorization under the Stock Repurchase Program was approved by Expro Ltd's Board of Directors. Under the Stock Repurchase Program, Expro Ltd  may repurchase the Company’s ordinary shares in open market purchases, in privately negotiated transactions or otherwise. The Stock Repurchase Program will continue to be utilized at management’s discretion and in accordance with federal securities laws. The timing and actual numbers of shares repurchased will depend on a variety of factors including price, corporate requirements and the constraints specified in the Stock Repurchase Program, along with general business and market conditions. The Stock Repurchase Program does not obligate Expro Ltd to repurchase any particular number of ordinary shares, and it could be modified, suspended or discontinued at any time. During the six months ended June 30, 2026, the Company repurchased approximately 2.5 million shares at an average price of $15.95 per share, for a total cost of approximately $40.0 million. During the six months ended June 30, 2025, the Company repurchased approximately 1.6 million shares at an average price of $9.22 per share, for a total cost of approximately $15.0 million.