Drilling Tools International Corp
Business
Drilling Tools International Corporation is a global oilfield services company that designs, engineers, manufactures and rents downhole drilling tools for onshore and offshore horizontal and directional drilling operations. The company offers a rental-focused portfolio including directional drilling tools, stabilizers, drill collars, hole openers, roller reamers, and wellbore optimization technologies across the well life cycle. Operations are organized into two geographic segments: Western Hemisphere (North America and Latin America) and Eastern Hemisphere (Europe, Middle East, and Asia-Pacific), supported by 15 North American and 11 international service centers. Customers include major diversified oilfield service companies, exploration and production operators, and equipment manufacturers.
Summary from 10-K filed 2026-03-06
Financials
Consolidated Statement of Income
| Concept | Trend | FY 2025 2025-12-31 | FY 2024 2024-12-31 | FY 2023 2023-12-31 | FY 2022 2022-12-31 |
|---|---|---|---|---|---|
| Revenue, net | 160 | 154 | 152 | 130 | |
| Selling, general, and administrative expense | 82 | 79 | 68 | 52 | |
| Depreciation and amortization expense | 27 | 24 | 20 | 20 | |
| Interest expense, net | 5 | 3 | −1 | −477,000 | |
| Loss (gain) on asset disposal | 65,000 | −60,000 | −489,000 | 0 | |
| Loss (gain) on remeasurement of previously held equity interest | — | −368,000 | −255,000 | — | |
| Goodwill impairment | 2 | 0 | — | — | |
| Other operating and non-operating expense, net | 5 | 8 | — | — | |
| Total costs and other deductions | 162 | 151 | 124 | 104 | |
| Income (loss) before income tax expense | −3 | 3 | 20 | 25 | |
| Income tax benefit (expense) | −905,000 | 30,000 | −5 | −4 | |
| Net income (loss) | −4 | 3 | 15 | 21 | |
| Net income (loss) attributable to Drilling Tools International stockholders | −4 | 3 | 15 | 21 | |
| Basic earnings (loss) per share | −0.11 | 0.09 | 0.67 | 1.66 | |
| Diluted earnings (loss) per share | −0.11 | 0.09 | 0.59 | 1.07 | |
| Basic weighted-average common shares outstanding | 36 | 32 | 21 | 12 | |
| Diluted weighted-average common shares outstanding | 36 | 32 | 25 | 20 | |
| Foreign currency translation adjustment, net of tax | 3 | −2 | −114,000 | 200,000 | |
| Net comprehensive income (loss) | −1 | 1 | 15 | 21 |
Consolidated Balance Sheet
| Concept | Trend | FY 2025 2025-12-31 | FY 2024 2024-12-31 | FY 2023 2023-12-31 | FY 2022 2022-12-31 | FY 2021 2021-12-31 |
|---|---|---|---|---|---|---|
| Cash | 4 | 6 | 6 | 2 | 1 | |
| Accounts receivable, net | 38 | 40 | 30 | 29 | 20 | |
| Inventories | 18 | 18 | 5 | 3 | — | |
| Prepaid expenses and other current assets | 4 | 4 | 5 | 4 | — | |
| Total current assets | 65 | 68 | 46 | 40 | 1 | |
| Property, plant and equipment, net | 73 | 76 | 66 | 44 | — | |
| Operating lease right-of-use asset | 25 | 23 | 19 | 20 | — | |
| Intangible assets, net | 40 | 37 | 216,000 | 263,000 | — | |
| Goodwill | 15 | 12 | 0 | — | — | |
| Deferred financing costs, net | 468,000 | 817,000 | 409,000 | 226,000 | — | |
| Deposits and other long-term assets | 917,000 | 2 | 879,000 | 383,000 | — | |
| Total assets | 222 | 222 | 132 | 105 | 210 | |
| Accounts payable | 10 | 12 | 8 | 7 | — | |
| Accrued expenses and other current liabilities | 11 | 8 | 11 | 7 | 238,696 | |
| Current portion of operating lease liabilities | 4 | 4 | 4 | 3 | — | |
| Current maturities of long-term debt | 6 | 7 | 0 | — | — | |
| Total current liabilities | 31 | 31 | 22 | 36 | — | |
| Operating lease liabilities, less current portion | 21 | 19 | 15 | 17 | — | |
| Revolving line of credit | 25 | 27 | — | — | — | |
| Long-term debt, less current portion | 15 | 20 | 0 | — | — | |
| Deferred tax liabilities, net | 7 | 6 | 7 | 3 | — | |
| Total liabilities | 99 | 102 | 44 | 56 | 249,996 | |
| Commitments and contingencies (See Note 14) | — | — | — | — | — | |
| Common stock, $0.0001 par value, shares authorized 500,000,000 as of December 31, 2025 and December 31, 2024, 35,661,297 issued and outstanding as of December 31, 2025 and 34,704,696 shares issued and outstanding as of December 31, 2024 | 4,000 | 3,000 | 3,000 | 1,000 | 615 | |
| Less: Treasury stock at cost, 505,169 and 0 shares as of December 31, 2025 and December 31, 2024, respectively | −1 | — | 0 | 0 | — | |
| Additional paid-in-capital | 131 | 125 | 95 | 52 | 1 | |
| Accumulated deficit | −7 | −4 | −6 | −21 | −235,380 | |
| Accumulated other comprehensive income (loss) | 664,000 | −2 | −225,000 | −111,000 | — | |
| Total Drilling Tools International stockholder's equity | 123 | 120 | 89 | 31 | 11 | |
| Non-controlling interest | 12,000 | — | — | — | — | |
| Total equity | 123 | 120 | 89 | — | — | |
| Total liabilities and shareholders' equity | 222 | 222 | 132 | 105 | 210 |
Consolidated Statement of Cash Flows
| Concept | Trend | FY 2025 2025-12-31 | FY 2024 2024-12-31 | FY 2023 2023-12-31 | FY 2022 2022-12-31 |
|---|---|---|---|---|---|
| Amortization of deferred financing costs | 349,000 | 313,000 | 139,000 | 94,000 | |
| Non-cash lease expense | 6 | 5 | 5 | 4 | |
| Unrealized loss on currency remeasurement | 194,000 | 225,000 | 0 | — | |
| Write off of excess and obsolete inventory | 797,000 | 0 | 75,000 | 45,000 | |
| Write off of property and equipment | 720,000 | 0 | 122,000 | 510,000 | |
| Provision (recovery) for credit losses | 584,000 | 424,000 | 117,000 | 307,000 | |
| Deferred tax expense/(benefit) | −539,000 | −778,000 | — | — | |
| Loss (gain) on sale of property | 59,000 | −60,000 | −101,000 | −127,000 | |
| Realized loss on equity securities | 0 | 12,000 | 0 | — | |
| Unrealized (gain) loss on equity securities | 0 | −368,000 | 255,000 | −234,000 | |
| Gain on sale of lost-in-hole equipment | −12 | −10 | — | — | |
| Stock-based compensation expense | 2 | 2 | 4 | 0 | |
| Interest Income on related party note receivable | −207,000 | −151,000 | — | — | |
| Accounts receivable, net | 4 | −4 | −1 | −9 | |
| Prepaid expenses and other current assets | 2 | 874,000 | 519,000 | −3 | |
| Inventories | 953,000 | −4 | −2 | −906,000 | |
| Operating lease liabilities | −5 | −5 | −4 | −4 | |
| Accounts payable | −5 | −78,000 | −2 | −1 | |
| Accrued expenses and other current liabilities | −1 | −5 | 583,000 | 5 | |
| Net cash flows from operating activities | 20 | 6 | 23 | 14 | |
| Acquisition of a business, net of cash acquired | −6 | −47 | 0 | — | |
| Proceeds from sale of property and equipment | 38,000 | 79,000 | 202,000 | 1 | |
| Purchase of property, plant and equipment | −20 | −23 | −44 | −25 | |
| Proceeds from sale of lost-in-hole equipment | 14 | 15 | 20 | 21 | |
| Proceeds from sale of equity securities | 0 | 1 | 0 | — | |
| Purchases of intangible assets | −2 | −12,000 | 0 | — | |
| Net cash flows from investing activities | −13 | −54 | −24 | −3 | |
| Investment from non-controlling interest into VIE | 12,000 | 0 | — | — | |
| Purchase of treasury stock | −1 | 0 | — | — | |
| Payment of deferred financing costs | 0 | −722,000 | −324,000 | −251,000 | |
| Proceeds from revolving line of credit | 53 | 39 | 73 | — | |
| Payments on revolving line of credit | −55 | −11 | −91 | −117 | |
| Repayment of promissory note | −903,000 | 0 | — | — | |
| Proceeds from term loan | 0 | 25 | 0 | — | |
| Payments on term loan | −5 | −4 | 0 | −1 | |
| Net cash flows from financing activities | −9 | 48 | 4 | −9 | |
| Effect of Changes in Foreign Exchange Rate | 108,000 | −175,000 | −114,000 | 173,000 | |
| Net Change in Cash | −3 | 182,000 | 4 | 2 |
Filings
Material Events
Insiders
Institutional Holders
Frequently asked questions
What is Drilling Tools International Corp's CIK number?
Drilling Tools International Corp's SEC CIK number is 0001884516 (1884516). The CIK (Central Index Key) is the permanent identifier the SEC assigns to every EDGAR filer — unlike a ticker symbol, it never changes.
Where can I find Drilling Tools International Corp's SEC filings?
All of Drilling Tools International Corp's EDGAR filings — 10-K annual reports, 10-Q quarterly reports, 8-K material events, and insider transactions — are listed on this page, sourced live from SEC EDGAR.
When did Drilling Tools International Corp last report earnings?
Drilling Tools International Corp (DTI) most recently filed an earnings 8-K with the SEC on May 7, 2026, furnishing its results under Item 2.02 (Results of Operations and Financial Condition). The earnings press release is attached to that filing (accession 0001193125-26-212067). This is Drilling Tools International Corp's most recent earnings filing of record — not a forecast of its next earnings date.
What is Drilling Tools International Corp's most recent earnings 8-K?
Drilling Tools International Corp's latest earnings 8-K (Item 2.02) was filed May 7, 2026 under accession 0001193125-26-212067. It carries the quarterly or annual earnings press release — the earliest official, SEC-filed version of the results.
View Drilling Tools International Corp's latest earnings 8-K →
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