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Flotek Reports Record Data Analytics Revenue and Strong First Quarter Results

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HOUSTON, May 5, 2026 /PRNewswire/ — Flotek Industries, Inc. (“Flotek” or the “Company”) (NYSE: FTK) today announced operational and financial results for the quarter ended March 31, 2026. The Company also provided 2026 guidance that reinforces its multi-year track record of transformational revenue and profitability growth.

A summary of key financial metrics compared to the prior-year quarter is as follows (in thousands, except ‘per share’ amounts):

Three Months Ended March 31,

2026

2025

% Change

Total Revenues

$    70,051

$    55,362

27 %

Gross Profit

$    15,541

$    12,449

25 %

Net Income

$      4,664

$      5,380

(13) %

Diluted Income Per Share

$        0.12

$        0.17

(29) %

Adjusted EBITDA (1)

$      9,093

$      6,298

44 %

First Quarter 2026 Highlights

Total revenue grew 27% as compared to the first quarter of 2025 highlighted by 295% growth in Data Analytics revenue.Chemistry Technologies revenue rose 13% to its highest quarterly level in over 7 years.Data Analytics achieved its highest-ever quarterly revenue.Data Analytics accounted for 50% of total gross profit versus 8% in the prior-year quarter.In late March, equipment mobilization commenced in connection with the Company’s recently announced power services contract.

XSPCT Named 2026 Product of the Year

The XSPCT™ was recognized by the Analyzer Technology Conference, the premier technical event dedicated to analysis and measurement in the chemical processing industry, for its breakthrough innovation, performance, and real-world impact in process analytics. In upstream applications, the XSPCT™ enables digital sampling by delivering continuous, real-time compositional analysis directly in line with the process stream eliminating the delays, costs, and inaccuracies of traditional Gas Chromatography sampling and laboratory methods. As operators increasingly demand faster, more reliable, and actionable data, the XSPCT™ delivers the accuracy and responsiveness required in today’s operating environments, helping redefine what is possible in process optimization, custody transfer, and operational efficiency across the oil and gas value chain. This honor underscores Flotek’s continued leadership in advancing analyzer technology that directly addresses industry needs.

2026 Outlook

Based on first quarter results and current visibility, Flotek expects:

2026 Total Revenue: $270 million to $290 million2026 Adjusted EBITDA(2): $36 million to $41 million

Data Analytics momentum accelerated with new contracts, expanding the Q2–Q4 2026 expected backlog to $34.1 million and the three-year expected backlog to more than $90 million. Power services led this growth, reinforcing the shift toward high-margin, recurring revenue streams.

Management Commentary

Chief Executive Officer Dr. Ryan Ezell commented, “Our first quarter results build on the strong multi-year growth we have achieved across the business. During the quarter, both our Data Analytics and Chemistry segments delivered impressive year‑over‑year growth. Data Analytics now represents half of the Company’s gross profit, and we expect it to surpass Chemistry as the largest contributor to profit during 2026.

In early March, we announced our first power services contract, marking an important step in diversifying our revenue base beyond traditional oilfield applications. We believe this contract represents the first of many opportunities to capture high‑margin, recurring revenue supporting power generation throughout the energy infrastructure sector.

Our 2026 guidance reflects our focus on the convergence of real-time data and chemistry solutions further advancing our industrial pivot while laying the foundation for future market expansion.”

First Quarter 2026 Financial Results

Revenue: Flotek reported total revenues of $70.1 million for the first quarter of 2026, an increase of 27%, compared to total revenues of $55.4 million for the first quarter of 2025. Revenue growth during the quarter was comprised of a 13% increase in Chemistry revenue and a 295% increase in Data Analytics revenue as compared to the prior-year quarter. First quarter 2026 revenue included $2.7 million related to the minimum purchase requirements (the “Minimum Purchase Requirements”) under the Company’s long-term supply agreement with ProFrac Services, LLC, as compared to $7.5 million in the prior-year quarter.

Segment Revenue Summary (in thousands)

Three Months Ended March 31,

2026

2025

% Change

Chemistry Technologies:

External Revenues

$     14,741

$     22,009

(33) %

Related Party Revenues

44,941

30,729

46 %

Total

$     59,682

$     52,738

13 %

Data Analytics:

Product Revenues

$      1,853

$      1,662

11 %

Service Revenues

8,516

962

785 %

Total

$     10,369

$      2,624

295 %

Gross Profit: The Company generated gross profit of $15.5 million during the first quarter of 2026, or 22% of revenues, compared to $12.4 million during the first quarter of 2025. The improvement in first quarter 2026 gross profit was primarily the result of the increased Chemistry and Data Analytics revenue, as compared to the first quarter of 2025.  The improvement in gross profit was partially offset by a 64% reduction in revenue attributable to the Minimum Purchase Requirements as compared to the first quarter of 2025.Selling, General and Administrative (“SG&A”) Expense: SG&A expense totaled $6.9 million for the first quarter of 2026, or 10% of revenues, compared to $6.3 million during the first quarter of 2025, or 11% of revenues.  The increase in current quarter SG&A was primarily the result of higher non-cash stock compensation costs.Net Income and EPS: Flotek reported net income of $4.7 million, or $0.12 per diluted share, for the first quarter of 2026. This compares to net income of $5.4 million, or $0.17 per diluted share, for the first quarter of 2025.  First quarter 2026 net income was impacted by a higher effective tax rate, as compared to the prior-year quarter, resulting from the partial release of the valuation allowance on deferred tax assets during the third quarter of 2025.  Adjusted EBITDA (Non-GAAP)(1): Adjusted EBITDA was $9.1 million in the first quarter of 2026, a 44% increase as compared to $6.3 million in the first quarter of 2025. Adjusted EBITDA calculations for the first quarters of 2026 and 2025 do not add back non-cash amortization of contract assets totaling $2.2 million and $1.5 million, respectively.

(1)

A non-GAAP financial measure.  See the “Unaudited Reconciliation of Non-GAAP Items and Non-Cash Items Impacting Earnings” section in this release for more information about this measure, including reconciliations to the most comparable GAAP measures.  Calculations do not add back non-cash amortization of contract assets totaling $2.2 million and $1.5 million during the first quarters of 2026 and 2025, respectively.

(2)

A non-GAAP financial measure. See the “Unaudited Reconciliation of Non-GAAP Items and Non-Cash Items Impacting Earnings” section in this release for more information about this measure. We are unable to reconcile this forward-looking non-GAAP financial measure to the most directly comparable GAAP financial measure without unreasonable efforts, as we are unable to predict with a reasonable degree of certainty the impact of certain items that would be expected to impact the GAAP financial measure, including, among other items, certain stock-based compensation costs and interest costs related to fluctuations in borrowings under the Company’s asset based loan. These items do not impact the non-GAAP financial measure. Guidance does not add back non-cash amortization of contract assets estimated to total $8.4 million during 2026.

Conference Call Details

The Company plans to host its earnings conference call on Wednesday, May 6, 2026, at 9:00 a.m. CDT (10:00 a.m. EDT).

Participants may access the call through Flotek’s website at www.flotekind.com under “News and Events” within the Investor Relations section, by telephone toll free at 1-800-836-8184 (international toll: 1-646-357-8785), or by using the following link to access the webcast: https://app.webinar.net/95QB27jKEvW approximately five minutes prior to the start of the call. Following the conclusion of the conference call, a recording of the call will be available on the Company’s website.

Upcoming Events

Below are some upcoming events where you may get the opportunity to meet with our team:

May 26-28, 2026: Louisiana Energy Conference 2026 (New Orleans, LA)June 16-18, 2026: Planet Microcap 2026 (Las Vegas, NV)August 17-19, 2026: Enercom: The Energy Investment Conference (Denver, CO)

About Flotek Industries, Inc.

Flotek Industries, Inc. is a leading chemistry and data technology company focused on servicing the Energy industry. The Company’s top tier technologies leverage near real-time data to deliver innovative solutions to maximize customer returns. Flotek has an intellectual property portfolio of over 130 patents, 20+ years of field and laboratory data, and a global presence in more than 59 countries.

Flotek has established collaborative partnerships focused on sustainable and optimized chemistry and data solutions, aiming to reduce the environmental impact of energy on land, air, water and people.

Flotek is based in Houston, Texas and its common shares are traded on the New York Stock Exchange under the ticker symbol “FTK.” For additional information, please visit www.flotekind.com.

Forward-Looking Statements

Certain statements set forth in this press release constitute forward-looking statements (within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934) regarding Flotek Industries, Inc.’s business, financial condition, results of operations and prospects. Words such as will, continue, expects, anticipates, intends, plans, believes, seeks, estimates and similar expressions or variations of such words are intended to identify forward-looking statements, but are not the exclusive means of identifying forward-looking statements in this press release. Although forward-looking statements in this press release reflect the good faith judgment of management, such statements can only be based on facts and factors currently known to management. Consequently, forward-looking statements are inherently subject to risks and uncertainties, and actual results and outcomes may differ materially from the results and outcomes discussed in the forward-looking statements. Further information about the risks and uncertainties that may impact the Company are set forth in the Company’s most recent filing with the Securities and Exchange Commission on Form 10-K (including, without limitation, in the “Risk Factors” section thereof), and in the Company’s other SEC filings and publicly available documents. Readers are urged not to place undue reliance on these forward-looking statements, which speak only as of the date of this press release. The Company undertakes no obligation to revise or update any forward-looking statements in order to reflect any event or circumstance that may arise after the date of this press release.

FLOTEK INDUSTRIES, INC.

 UNAUDITED CONDENSED CONSOLIDATED BALANCE SHEETS

(in thousands, except share data)

March 31, 2026

December 31, 2025

ASSETS

Current assets:

Cash and cash equivalents

$                 5,676

$                 5,731

Restricted cash

104

104

Accounts receivable, net of allowance for credit losses of $820 and $764 at March 31, 2026 and December 31, 2025, respectively

21,794

19,043

Accounts receivable, related party, net of allowance for credit losses of $0 at March 31, 2026 and December 31, 2025

61,023

64,204

Equipment credit, related party

11,782

—

Inventories, net

14,303

10,629

Other current assets

2,709

3,445

Current contract asset

8,402

7,621

Total current assets

125,793

110,777

Long-term contract asset

52,102

55,115

Property and equipment, net

21,912

20,344

Right-of-use assets

2,895

3,083

Deferred tax assets, net

27,580

29,152

Other long-term assets

1,561

1,578

TOTAL ASSETS

$              231,843

$              220,049

LIABILITIES AND STOCKHOLDERS’ EQUITY

Current liabilities:

Accounts payable

$                52,566

$               48,317

Accrued liabilities

8,771

7,256

Income taxes payable

295

258

Interest payable, related party

986

1,008

Current portion of operating lease liabilities

1,287

1,251

Current portion of finance lease liabilities

156

153

Asset-based loan

4,666

3,332

Total current liabilities

68,727

61,575

Note payable – related party

39,608

39,584

Long-term operating lease liabilities

5,149

5,608

Long-term finance lease liabilities

184

224

TOTAL LIABILITIES

113,668

106,991

Commitments and contingencies

Stockholders’ equity:

Preferred stock, $0.0001 par value, 100,000 shares authorized; no shares issued and outstanding

—

—

Common stock, $0.0001 par value, 240,000,000 shares authorized; 37,390,332 shares issued and 36,174,338 shares outstanding at March 31, 2026; 31,320,960 shares issued and 30,130,480 shares outstanding at December 31, 2025

4

3

Additional paid-in capital

435,838

434,964

Accumulated other comprehensive income

130

96

Accumulated deficit

(281,116)

(285,780)

Treasury stock, at cost; 1,215,994 and 1,190,480 shares at March 31, 2026 and December 31, 2025, respectively

(36,681)

(36,225)

Total stockholders’ equity

118,175

113,058

TOTAL LIABILITIES AND STOCKHOLDERS’ EQUITY

$              231,843

$              220,049

 

FLOTEK INDUSTRIES, INC.

UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS

(in thousands, except per share data)

Three Months Ended March 31,

2026

2025

Revenue:

Revenue from external customers

$        18,165

$        24,423

Revenue from related party

51,886

30,939

Total revenues

70,051

55,362

Cost of goods sold

54,510

42,913

Gross profit

15,541

12,449

Operating costs and expenses:

Selling, general, and administrative

6,925

6,282

Depreciation

631

252

Research and development

396

355

Gain on sale of property and equipment

—

(7)

Total operating costs and expenses

7,952

6,882

Income from operations

7,589

5,567

Other income (expense):

Interest expense

(1,332)

(229)

Other income, net

16

106

Total other expense

(1,316)

(123)

Income before income taxes

6,273

5,444

Income tax expense

(1,609)

(64)

Net income

$         4,664

$         5,380

Income per common share:

Basic

$           0.13

$           0.18

Diluted

$           0.12

$           0.17

Weighted average common shares:

Weighted average common shares used in computing basic income per common share

36,100

29,683

Weighted average common shares used in computing diluted income per common share

38,340

31,752

 

FLOTEK INDUSTRIES, INC.

UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS

(in thousands)

Three Months Ended March 31,

2026

2025

Cash flows from operating activities:

Net income

$             4,664

$             5,380

Adjustments to reconcile net income to net cash provided by operating activities:

Change in fair value of contingent consideration

—

(125)

Amortization of contract assets

2,232

1,482

Depreciation

631

252

Amortization of deferred financing costs

95

71

Provision for credit losses, net of recoveries

56

66

Provision for excess and obsolete inventory

396

64

Gain on sale of property and equipment

—

(7)

Non-cash lease expense

188

318

Stock compensation expense

824

461

Deferred income tax expense

1,572

14

Changes in current assets and liabilities:

Accounts receivable

(2,808)

(2,489)

Accounts receivable, related party

(9,798)

4,124

Inventories

(4,070)

(354)

Income tax receivable

20

—

Other assets

663

(540)

Accounts payable

4,249

893

Accrued liabilities

1,515

(1,811)

Operating lease liabilities

(423)

(568)

Income taxes payable

37

82

Interest payable, related party

(22)

—

Net cash provided by operating activities

21

7,313

Cash flows from investing activities:

Capital expenditures

(1,002)

(598)

Proceeds from sale of assets

—

7

Net cash used in investing activities

(1,002)

(591)

Cash flows from financing activities:

Payments on long term debt

—

(45)

Proceeds from asset-based loan

55,100

53,345

Payments on asset-based loan

(53,766)

(58,136)

Proceeds from exercise of April 2025 Warrant

1

—

Payments to tax authorities for shares withheld from employees

(456)

(23)

Proceeds from issuance of stock under Employee Stock Purchase Plan

44

31

Proceeds from issuance of stock from stock option exercises

6

—

Payments for finance leases

(37)

—

Net cash provided by (used in) financing activities

892

(4,828)

Effect of changes in exchange rates on cash and cash equivalents

34

(45)

Net change in cash and cash equivalents and restricted cash

(55)

1,849

Cash and cash equivalents at the beginning of period

5,731

4,404

Restricted cash at the beginning of period

104

102

Cash and cash equivalents and restricted cash at beginning of period

5,835

4,506

Cash and cash equivalents at end of period

5,676

6,253

Restricted cash at the end of period

104

102

Cash and cash equivalents and restricted cash at end of period

$             5,780

$             6,355

 

FLOTEK INDUSTRIES, INC.

UNAUDITED RECONCILIATION OF NON-GAAP ITEMS AND NON-CASH ITEMS IMPACTING EARNINGS

(in thousands)

Three Months Ended March 31,

2026

2025

Net income

$           4,664

$           5,380

Interest expense

1,332

229

Income tax expense

1,609

64

Depreciation and amortization

631

252

EBITDA (Non-GAAP) (1)

$           8,236

$           5,925

Stock compensation expense

824

461

Severance and retirement

11

44

Contingent liability revaluation

—

(125)

Gain on disposal of asset

—

(7)

Non-Recurring professional fees

22

—

Adjusted EBITDA (Non-GAAP) (1)

$           9,093

$           6,298

(1)

Management believes that EBITDA and Adjusted EBITDA for the three months ended March 31, 2026 and 2025 are useful to investors to assess and understand operating performance, especially when comparing those results with previous and subsequent periods.  Management views the adjustments made to net income for certain non-cash or non-recurring items noted above to be outside of the Company’s normal operating results.  Management analyzes operating results without the impact of the above items as an indicator of performance, to identify underlying trends in the business and cash flow from continuing operations, and to establish financial, compensation and operational objectives. Adjusted EBITDA as presented above does not add back non-cash amortization of contract assets totaling $2.2 million and $1.5 million during the three months ended March 31, 2026 and 2025, respectively.

 

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SOURCE Flotek Industries, Inc.

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Suunto Launches Race 3S: Next-Generation Performance Watch in a Compact Titanium Case

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Suunto’s next-generation performance watch brings up to 38 hours of dual-band GPS battery, a 2,000-nit AMOLED display, and free worldwide offline maps in a 56 g build, debuting alongside Suunto’s new AI Coach.

VANTAA, Finland, Oct. 21, 2026 /PRNewswire/ — Suunto launches Suunto Race 3S, a new-generation flagship performance watch. Built for smarter training, with features designed especially for trail running, Race 3S brings together up to 38 hours of dual-band GPS battery, a 2,000-nit AMOLED display, and a full set of intelligent trail tools at just 56 g. It is a watch built to go further and move lighter, so a long day in the mountains stays simple.

First launched in 2023, the Race series established Suunto’s position as the choice for athletes who train with intention and perform when it counts. Suunto Race 3S carries that standard into a compact 46 mm case sized to sit well on smaller wrists, and holds on to long-lasting battery life, a flagship display, and the complete trail toolkit alongside it.

“People have more performance data at their fingertips than ever, but turning all that information into something useful can be a challenge,” said Daniel Das Bhowmik, VP Product at Suunto. “We built Race 3S to carry long-lasting battery life in a case compact and light enough to forget, and we’re launching it alongside Suunto AI Coach to make things simple again: turning questions and personal data into clear, actionable answers.”

Battery for the Long Haul

No runner should plan a race around a battery bar. Suunto Race 3S gives them room to plan the race instead: up to 38 hours in dual-band GPS mode (up to 32 hours with the always-on display on), compared with up to 30 hours on Race S, with full positioning accuracy switched on the entire time. Additional battery modes reach further still, including a smartwatch mode with up to 12 days of battery life for everyday wear.

For runners used to planning a session around what the watch has left, that is up to eight more hours of pacing, navigation, and heart rate on the wrist than Race S. Training runs finish the way they were planned, races carry data all the way to the line, and the charger stays at home.

A Compact Build With Flagship Performance

The best watch on a long climb is the one a runner stops noticing. At 56 g with the silicone strap, 38 g for the watch head alone, Suunto’s Race 3S sits close to the wrist at roughly the weight of two energy gels, with a compact fit that works well for smaller wrists, too. A titanium bezel and sapphire crystal lens handle rock, scrub, and repeated impact.

Inside, the new-generation Apollo 510 processor drives faster response across maps and menus, and an upgraded optical heart rate module with six LEDs and four photodetectors behind 2.5D curved sensor glass holds accuracy through arm swing, sweat, and cold. Pair a Suunto heart rate belt to enable ZoneSense and it reads true intensity straight from the body’s response.

Suunto AI Coach Debuts With Race 3S

Race 3S marks the debut of Suunto AI Coach, an AI-powered conversational coaching experience in the Suunto app. It turns your Suunto data into insight, guidance and action, helping you understand your data, know where you stand and decide what to do next.

Ask Suunto AI Coach anything about your training, and it answers clearly and in context, with guidance and visuals such as charts, tables and maps, plus next steps whenever you want them. When you want to act, it creates structured workouts, training plans and routes; workouts and routes can then be saved in the Suunto app and synced to your watch. Customers who purchase and pair Suunto Race 3S can get three months of Suunto AI Coach free by activating their watch through the Suunto app by 31 December 2026.

Precision in Every Terrain, Free Maps Worldwide

When the trail disappears under canopy or into a canyon, the line on the wrist stays put. Positioning offers better overall performance, notable through forests, canyon walls, and switchbacks. Free worldwide offline maps now add contour lines and place names for an instant read on where you stand. They download straight to the watch and run entirely on board, subscription-free, so the terrain travels with the runner wherever the trail goes.

A Race Strategy Set Before the Gun

The hardest racing decisions arrive when a runner is least equipped to make them. Suunto Race 3S makes them early instead. Climb Guidance shows what the trail does next, climb or descent, updated in real time, so effort can be placed in advance: know a descent is coming, and save the legs for the climb after it.

Race Planner will build a personalized pacing plan from the route, the weather, and a runner’s race goal, with real-time guidance to hold pace on race day.*

A Display You Can Read in Full Sun

Mid-race data only counts if it can be read mid-stride. The 1.32-inch LTPS Hybrid AMOLED reaches 2,000 nits, more than three times the brightness of Race S, at 466 × 466 resolution. In midday glare above the treeline or on a 4 a.m. start in the dark, pace, distance, and the next turn stay readable at a glance.

Everything You Run With, on One Wrist

64 GB of onboard storage holds maps, routes, training data, and offline music.** It offers over 100 sport modes, including running, cycling, swimming, gym work, and multisport. Race 3S is available in three colorways: Orchid, Feather, and Black.

*Race Planner is planned for launch via a future Suunto app and firmware update. Features, availability, and timing are subject to change. Please refer to the latest official information from Suunto.

**Available via an over-the-air software update following product launch. Availability timing is subject to official announcement.

Read more about Suunto AI Coach at https://us.suunto.com/pages/suunto-ai-coach

Availability:
EMEA: October 15th
CHINA: October 15th
NAM: October 29th
APAC: October 29th

Race 3S will be sold through Suunto’s direct-to-consumer channels and authorized outdoor and running retail partners across North America, Europe, and key Asia-Pacific markets.

Pricing: EUR 499 / USD 599

Colors: Purple, Grey, Black

Images for media use: https://media.suunto.com/pub/collection/7d1b229aace5399e4c0c117efcaf1bdf?locale=en

About Suunto

Suunto is a Finnish brand, established in 1936. It was founded by Finnish inventor Tuomas Vohlonen, who pioneered a new standard for navigational precision. That same year, his innovation – a field compass – was stronger, steadier, and more accurate than any other handheld navigational tool of its time. It was the first of many Suunto products built to withstand the harsh conditions of our native Finland.

In the near century since, Tuomas’s spirit of innovation has continued to chart Suunto’s course. From some of history’s first dive computers and high-altitude wrist altimeters to today’s GPS watches, Suunto remains a trusted companion for outdoor adventurers across the globe.

Supporting explorers, athletes, and weekend warriors alike remains our core mission – providing the tools to dive deeper, climb higher, and push the limits of human potential.

www.suunto.com

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SOURCE Suunto

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/R E P E A T — Media Advisory – Minister Hodgson to hold media callback following his visit to the United Kingdom/

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OTTAWA, ON, Oct. 20, 2026 /CNW/ — The Honourable Tim Hodgson, Minister of Energy and Natural Resources, will hold a callback with Canadian media to discuss the outcomes of his visit to London, U.K., for London Metals Exchange (LME) Week on October 19 and 20, 2026.

Date: Wednesday, October 21, 2026

Time: 1 p.m. EDT

All accredited media are asked to pre-register for the callback by emailing media@nrcan-rncan.gc.ca. Details on how to participate will be provided upon registration.

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S4 Capital’s Monks Accelerates Regional Growth Strategy in EMEA and APAC Expanding Nirvik Singh’s Remit to APAC, Names Ash Smith Executive Vice President, Asia Pacific and Fay Denis du Peage Managing Director, Australia and New Zealand

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LONDON, Oct. 21, 2026 /PRNewswire/ — Monks, the purely digital, unitary operating brand of S4 Capital plc, today announced an evolution of its regional leadership across EMEA and Asia-Pacific. As global brands demand more agile, connected and AI-enabled marketing models, Monks is expanding its integrated Marketing and Technology Services footprint to help multinational clients operate at speed and scale across both regions.

Positioned as a change agent for modern enterprise brands, Monks unifies three core capabilities—Intelligence, Creation and Orchestration—through its flagship Monks.Flow platform to build brands as living systems. Across Asia Pacific, this evolution allows Monks to deliver end-to-end marketing transformation, helps clients accelerate media performance, eliminate operational silos and orchestrate intelligent marketing that turns real-time data into measurable business impact.

To lead this next chapter, Monks has expanded the leadership remit of Nirvik Singh to lead both EMEA and Asia Pacific, reporting to Bruno Lambertini, CEO of Marketing Services. Working alongside Nirvik, Ash Smith joins Monks as Executive Vice President, Asia Pacific, effective 13 November 2026. Fay Denis du Peage has been appointed Managing Director, Australia and New Zealand, effective immediately.

Nirvik recently stepped down as a Non-Executive Director from the S4 Capital Board to join Monks as CEO of Marketing Services, EMEA. In the new expansion of his role to APAC, he will integrate oversight for Marketing Services across both regions, recognizing the connected growth opportunities and delivering greater value and scale for clients.

Nirvik brings more than 35 years of experience in the industry, most recently as Global Chief Operating Officer and President International at Grey Group. Nirvik has spent decades running multi-region businesses and partnering with enterprise brands including Procter & Gamble, The Coca-Cola Company, Volvo and Haleon to navigate complex market dynamics and deliver commercial impact.

Reporting to Nirvik, Ash Smith will focus on accelerating regional business growth, strengthening client partnerships and scaling Monks’ product and solutions capabilities across Asia Pacific. Ash brings more than 18 years of experience across Australia, Europe, China, Hong Kong and Southeast Asia, spanning product development, client solutions, innovation and business leadership. Throughout his career, he has focused on combining human intelligence, data and technology to create value for brands, translating local and regional market insights into innovative solutions and business growth.

Prior to joining Monks, Ash served as Chief Product and Solutions Officer for JAPAC at Tag, a Dentsu company, where he led the talent, products and technology needed to address complex client challenges, including driving Tag’s AI and innovation agenda. Previously, as Managing Director for Southeast Asia, he built strategic client partnerships and developed integrated, scalable solutions by bringing together expertise from across the network, delivering strong business growth.

Over his career, Ash has worked with leading global brands across technology, CPG, luxury and automotive, building long-term partnerships and delivering solutions that drive real-world impact. He has also shared his perspectives at industry forums, most recently NRF and ATS.

“We are excited to welcome Ash to our leadership team in Asia Pacific as we continue to scale our integrated offering and deepen our partnerships with clients across the region. His experience spanning client leadership, product, solutions and innovation will be valuable as we bring together creative, media, production, data and technology to deliver greater agility, efficiency and real-time relevance for brands. As we continue to advance our unitary model and the capabilities enabled by Monks.Flow, Ash will play an important role in translating our regional ambitions into meaningful outcomes for our clients and our business,” said Nirvik Singh, CEO, Monks EMEA and APAC.

Ash joins Monks as the company continues to evolve its integrated Marketing and Technology Services offering, bringing together creativity, media intelligence, production, data, and technology to help brands compete in an increasingly complex and fast-moving market. Through Monks.Flow, its flagship AI ecosystem for marketing orchestration, Monks is connecting insights, creativity, and execution to enable real-time relevance and turn marketing into a growth engine. Ash’s experience in product and solutions leadership, AI innovation and integrated client partnerships will support the continued development and deployment of these capabilities across Asia Pacific.

“The best agencies don’t just make work, they solve problems. When people and technology come together in the right systems, we can move faster, think bigger and unlock growth for brands in ways that weren’t possible before. That means bringing media, creative, production and data to the table as one team, not a set of silos. Our job is to put clients at the centre of everything we do and help them win through new ideas and experiences,” said Ash Smith, incoming EVP, Monks Asia Pacific.

Based in Sydney, Fay Denis du Peage will report to Ash Smith and lead Monks’ growth and market development across Australia and New Zealand. She will focus on strengthening the local offering, deepening client partnerships and bringing together Monks’ capabilities across creative, media, data and technology.

Fay brings experience across media, data, digital and operations from her career at Monks and MightyHive. She steps into the role after serving as Senior Vice President, Media, APAC, where she has helped strengthen Monks’ regional media proposition and drive greater integration across data, technology and media.

“AUNZ is a sophisticated and fast-moving market, and there is a significant opportunity for Monks to bring more of our capabilities together around the challenges our clients are facing, empowering them to become Real-Time Brands. The future of marketing isn’t about one discipline working in isolation—it’s about connecting media, creativity, data and technology with AI to create better outcomes in real time. My focus will be on making that capability even more relevant and accessible to clients, while building on the strength of our local teams and partnerships. I’m excited about what we are about to create together in the market,” said Fay Denis du Peage, Managing Director, Australia and New Zealand, Monks.

“Nirvik and Ash bring complementary leadership experience and a strong understanding of what clients need in an increasingly complex and fast-changing market. With Nirvik’s expanded regional leadership and Ash’s expertise in client solutions, product, and innovation, we are strengthening our ability to drive growth, connect capabilities, and deliver greater value for clients across our markets. Fay’s appointment is an important step in strengthening our presence across AUNZ, with Australia as our largest APAC market. I would also like to thank Kenny Griffiths for his leadership and the valuable contributions he has made to Monks,” said Bruno Lambertini, CEO, Marketing Services, Monks.

Media Inquiry

Evelyn Hsu
VP, Marketing and Communications, APAC
Evelyn.hsu@monks.com

About Monks

Monks is the global, digital-first, data-driven, unitary operating brand of S4 Capital plc. With a legacy of innovation and specialized expertise, Monks combines an extraordinary range of global Marketing and Technology Services to redefine how brands interact with the world. Through Monks.Flow, its flagship AI ecosystem for marketing orchestration, Monks transforms marketing into a growth engine, collapsing timelines and connecting brands to culture in real time. By deploying bespoke intelligent agents across disciplines and delivering culturally relevant, high-impact creative and digital solutions, Monks solves key critical business challenges across the entire brand enterprise to help brands sustain long-term impact.

Monks was named a Contender in The Forrester Wave™: Global Marketing Services and a leader in the 2026 Gartner® Magic Quadrant™ for Global Digital Marketing Agencies. It ranks among Cannes Lions’ Top 10 Creative Companies (2022-25) and remains the only partner featured in AdExchanger’s Programmatic Power Players list every year (2020-24). Named Adweek’s first AI Agency of the Year (2023) and The One Show’s inaugural AI Pioneer Organization (2025), Monks was also awarded Business Intelligence Group’s 2026 Excellence in Artificial Intelligence Award in the Human-Machine Interaction Team category. Additionally, Monks.Flow earned AI-based Marketing Solution of the Year at the 2026 AI Breakthrough Awards and a 2026 Global Generative AI Award in the Agentic Marketing Innovation category. Finally, Monks achieved a record-breaking number of FWAs and continues to hold the most of any partner.

About S4 Capital

S4 Capital is a purely digital advertising and marketing services business built for global, multinational, regional and local clients, as well as millennial-driven influencer brands. The business operates through two data- and digital-media-driven practices: Marketing Services and Technology Services, emphasising ‘faster, better and more efficient’ execution in an always-on, consumer-led environment. Its unitary structure positions the Company as a systems integration partner delivering real-time relevance in the post-agency era.

The Company has approximately 6,200 people in 34 countries, with approximately 82% of net revenue across the Americas, 12% across Europe, the Middle East and Africa, and 6% across Asia-Pacific. The longer-term objective is a geographic split of 60%:20%:20%. Marketing Services accounted for approximately 91% of net revenue and Technology Services 9%. The target allocation is a practice split of 75%:25%.

Sir Martin Sorrell was CEO of WPP for 33 years, building it from a £1 million ‘shell’ company in 1985 into the world’s largest advertising and marketing services company, with a market capitalisation of over £16 billion on the day he left. Prior to that, Sir Martin was Group Financial Director of Saatchi & Saatchi Company Plc for nine years.

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