Quinn Fanning
Chief Financial Officer at Expro Group Holdings
First quarter adjusted cash flow from operations, which excludes cash paid for interest net, cash paid for severance and other expense and cash paid for merger and integration expense was $53,000,000 a year over year increase of $14,000,000 During Q1 twenty twenty five, working capital decreased $2,000,000 quarter over quarter and cash taxes were approximately $15,000,000 Additionally, cash conversion or adjusted cash flow from operations as a percentage of adjusted EBITDA was 69%. Adjusted EBITDA less capital expenditures was approximately $43,000,000 and free cash flow or adjusted cash flow from operations less CapEx was approximately 20,000,000 Non operating uses of cash included capital expenditures of $33,000,000 and $10,000,000 to the repurchase of 1,000,000 EXPAREL shares at an average price per share of $10.8 Acquired shares were approximately 1% of total shares outstanding. Following the Q1 stock repurchases, approximately $66,000,000 was available under our current $100,000,000 program. We still intend to use about one third of our annual free cash flow to acquire EXPAREL shares. EXPAREL had total available liquidity at the end of Q1 of approximately three fifteen million dollars with cash and cash equivalents, including restricted cash of approximately $180,000,000 and availability under our revolving credit facility of approximately $135,000,000 Turning to our outlook.
