Civeo reported $486M of remaining performance obligations at 30 Sep 2026, down 27% from a year earlier and down 8% from the previous quarter. That is 0.7 years of trailing revenue already under contract. Book-to-bill last quarter: 0.77.
Net new backlog added in the latest quarter: -$44.2M.
Over the last twelve months it turned about 119% of its opening backlog into revenue (12-month conversion).
The company reports 10% of the backlog due within the first 3 months.
Customer prepayments (contract liabilities) cover 1.3% of the backlog.
Twelve-month book-to-bill: 0.74, i.e. 0.74 of new orders for every 1 of revenue recognised.
Backlog growth minus revenue growth: -40 points — revenue is catching up with orders.
By backlog size it ranks 316th among US filers the cockpit tracks.
Civeo backlog history
Remaining performance obligations at each quarter end (bars) against trailing twelve-month revenue (line).
Amounts in USD. Source: SEC XBRL filings.
Quarter end
Backlog (RPO)
TTM revenue
Coverage
Customer prepayments
30 Sep 2026
$486M
$707M
0.7 yrs
$6.30M
30 Jun 2026
$530M
$685M
0.8 yrs
$5.70M
31 Mar 2026
$590M
$668M
0.9 yrs
$5.10M
31 Dec 2025
$626M
$639M
1.0 yrs
$5.80M
30 Sep 2025
$668M
$628M
1.1 yrs
$6.20M
30 Jun 2025
$711M
$634M
1.1 yrs
$7.00M
31 Mar 2025
$519M
$660M
0.8 yrs
$7.10M
31 Dec 2024
$565M
$682M
0.8 yrs
$7.60M
30 Sep 2024
$607M
$702M
0.9 yrs
$9.20M
30 Jun 2024
$621M
$709M
0.9 yrs
$11.0M
31 Mar 2024
$656M
$699M
0.9 yrs
$11.6M
31 Dec 2023
$683M
$701M
1.0 yrs
$12.9M
Questions
What is Civeo's backlog?
Civeo reported $486M of remaining performance obligations at 30 Sep 2026, down 27% from a year earlier and down 8% from the previous quarter. That is 0.7 years of trailing revenue already under contract. Book-to-bill last quarter: 0.77.
How fast does Civeo's backlog turn into revenue?
Over the last twelve months Civeo recognised revenue equal to about 119% of the backlog it started each quarter with.
About these numbers
Remaining performance obligations (RPO) are revenue a company has contracted but not yet recognised, as reported in its SEC filings (XBRL tag RevenueRemainingPerformanceObligation). Coverage = backlog ÷ trailing twelve-month revenue. Book-to-bill = (change in backlog + revenue) ÷ revenue. Conversion = revenue recognised ÷ the backlog at the start of each quarter, summed over four quarters. Counterparty values come from company filings and releases.