Innovex International, Inc.
Business
Innovex International designs, manufactures, sells and rents mission-critical engineered products for the global oil and natural gas industry across the well lifecycle. Products include drilling enhancement tools, fishing & intervention equipment, production solutions, subsea systems, surface wellheads, and well completion and construction tools, typically consumable and deployed downhole. The company serves E&P operators, national and international oil companies, and oilfield service companies across North America, International, and Offshore markets, generating revenue from product sales, tool rentals, and field services.
Summary from 10-K filed 2026-02-24
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 | FY 2021 2021-12-31 |
|---|---|---|---|---|---|---|
| Total revenues | 978 | 661 | 556 | 467 | 288 | |
| Total cost of revenues | 675 | 428 | 360 | 309 | 242 | |
| Selling, general and administrative expenses | 129 | 116 | 73 | 59 | 115 | |
| (Gain) loss on sale of assets | −40 | −654,000 | 106,000 | 709,000 | — | |
| Depreciation and amortization | 61 | 31 | 23 | 18 | — | |
| Impairment of long-lived assets | 3 | 4 | 266,000 | 964,000 | — | |
| Acquisition and integration costs | 18 | 33 | 2 | — | — | |
| Income from operations | 133 | 49 | 97 | 76 | −125 | |
| Interest expense | 3 | 2 | 6 | 4 | −787,000 | |
| Other (income) expense, net | −2 | 298,000 | 385,000 | −1 | — | |
| Equity method earnings | 0 | −3 | −3 | 0 | — | |
| Bargain purchase loss (gain) | 3 | −86 | 0 | 0 | — | |
| Gain on consolidation of equity method investment | 0 | −8 | 0 | 0 | — | |
| Income before income taxes | 129 | 143 | 94 | 73 | −126 | |
| Income tax expense | 45 | 3 | 20 | 10 | 3 | |
| Net income | 83 | 140 | 74 | 63 | −128 | |
| Foreign currency translation adjustment | 13 | −11 | −2 | 463,000 | — | |
| Comprehensive income | 96 | 129 | 72 | 64 | — | |
| Basic (per share) | 1.21 | 2.82 | 2.39 | 2.07 | −3.63 | |
| Diluted (per share) | 1.2 | 2.77 | 2.29 | 2.01 | −3.63 | |
| Basic (shares) | 69 | 50 | 31 | 31 | 35 | |
| Diluted (shares) | 69 | 51 | 32 | 31 | 35 |
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 and restricted cash | 203 | 73 | 7 | — | — | |
| Trade receivables, net of allowance of $19,752 and $63,875 at December 31, 2025 and December 31, 2024, respectively | 238 | 240 | 118 | 91 | 100 | |
| Contract assets | 3 | 5 | 0 | — | — | |
| Inventories | 248 | 271 | 141 | 146 | 146 | |
| Assets held for sale | 0 | 5 | 0 | 19 | 0 | |
| Prepaid expenses and other current assets | 36 | 48 | 21 | — | — | |
| Total current assets | 728 | 641 | 288 | 750 | 745 | |
| Property and equipment, net | 159 | 191 | 52 | 181 | 216 | |
| Right of use assets - operating | 52 | 55 | 33 | 5 | 5 | |
| Goodwill | 100 | 60 | 24 | 24 | — | |
| Intangibles, net | 116 | 108 | 42 | — | — | |
| Deferred tax asset, net | 102 | 135 | 14 | 4 | 11 | |
| Other long-term assets | 11 | 7 | 2 | 6 | 6 | |
| Total noncurrent assets | 540 | 556 | 187 | — | — | |
| Total assets | 1,268 | 1,197 | 475 | 970 | 1,010 | |
| Accounts payable | 61 | 65 | 32 | 43 | 35 | |
| Accrued expenses | 49 | 61 | 29 | — | — | |
| Operating lease liabilities | 13 | 11 | 7 | 1 | 1 | |
| Contract liabilities | 12 | 13 | 0 | — | — | |
| Current portion of long-term debt and finance lease obligations | 7 | 10 | 10 | — | — | |
| Other current liabilities | 7 | 2 | 670,000 | — | — | |
| Total current liabilities | 148 | 163 | 79 | 88 | 94 | |
| Long-term debt and finance lease obligations | 19 | 25 | 41 | — | — | |
| Operating lease liabilities | 41 | 45 | 27 | 4 | 4 | |
| Deferred income taxes | 500,000 | 624,000 | 0 | 4 | 4 | |
| Other long-term liabilities | 2 | 6 | 31,000 | 2 | 2 | |
| Total noncurrent liabilities | 62 | 77 | 68 | — | — | |
| Total liabilities | 211 | 239 | 146 | 98 | 113 | |
| Commitments and contingencies (Note 16) | — | — | — | — | — | |
| Preferred stock: 10,000,000 shares authorized at $0.01 par value (none issued) | 0 | 0 | — | 0 | 0 | |
| Common stock: $0.01 par value, 200,000,000 and 100,000,000 shares authorized at December 31, 2025 and December 31, 2024, respectively; 69,077,237 and 69,178,263 shares issued and outstanding at December 31, 2025 and December 31, 2024, respectively | 691,000 | 692,000 | 309,000 | 343,000 | 352,000 | |
| Additional paid-in capital | 768 | 755 | 181 | 90 | 80 | |
| Accumulated other comprehensive income (loss) | 4 | −9 | 2 | — | — | |
| Retained earnings | 285 | 211 | 146 | 950 | 973 | |
| Total stockholders' equity | 1,058 | 958 | 329 | 251 | 181 | |
| Total liabilities and stockholders' equity | 1,268 | 1,197 | 475 | 970 | 1,010 |
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 | FY 2021 2021-12-31 |
|---|---|---|---|---|---|---|
| Net income | 83 | 140 | 74 | 63 | — | |
| Deferred debt issuance cost amortization | 317,000 | 409,000 | 332,000 | 312,000 | — | |
| Amortization of operating lease ROU asset | 12 | 8 | 7 | 6 | — | |
| Stock based compensation expense | 14 | 13 | 2 | 907,000 | 15 | |
| (Gain) loss on sale of property, equipment and lease terminations | −40 | −939,000 | 533,000 | −771,000 | — | |
| Deferred tax, net | 34 | −5 | −7 | −7 | −9 | |
| Equity method earnings, net of dividends | 0 | 495,000 | −2 | 0 | — | |
| Trade receivables, net | 18 | 13 | 5 | −38 | 14 | |
| Inventories | 47 | 8 | −5 | −44 | −5 | |
| Prepaid expenses and other current assets | 11 | −8 | −8 | −3 | — | |
| Other long-term assets | −4 | −2 | 1 | −2 | — | |
| Accounts payable | −13 | −22 | −10 | 2 | — | |
| Accrued expenses and other current liabilities | −19 | 651,000 | 792,000 | 3 | — | |
| Other operating assets and liabilities, net | −20 | 6 | −8 | −5 | — | |
| Net cash provided by operating activities | 191 | 93 | 76 | −6 | 38 | |
| Payments on acquisitions, net of cash acquired | −84 | −66 | 0 | −29 | — | |
| Capital expenditures | −35 | −14 | −15 | −10 | — | |
| Proceeds from sale of property and equipment | 100 | 3 | 1 | 967,000 | — | |
| Equity method investment | 0 | 0 | −18 | 0 | — | |
| Cash acquired in stock based business combination | 0 | 154 | 0 | 0 | — | |
| Net cash (used in) provided by investing activities | −19 | 78 | −32 | −38 | −3 | |
| Deferred debt issuance cost | −1 | 0 | 393,000 | −719,000 | — | |
| Revolving credit facility borrowings | 144 | 187 | 255 | 132 | — | |
| Revolving credit facility payments | −158 | −197 | −278 | −102 | — | |
| Term loan payments | −11 | −6 | −5 | −3 | — | |
| Subordinated note payments | 0 | 0 | −12 | 0 | — | |
| Payments on finance leases | −8 | −6 | −4 | −2 | — | |
| Common stock repurchased and retired | −9 | 0 | 0 | −1 | — | |
| Dividend payment | 0 | −75 | 0 | 0 | — | |
| Proceeds from exercise of options | 0 | 3 | 0 | 0 | 0 | |
| Taxes paid related to net share settlement of equity awards | −1 | −10 | 0 | 0 | — | |
| Net cash used in financing activities | −45 | −103 | −45 | 42 | −24 | |
| Effect of exchange rate changes | 3 | −3 | 118,000 | −272,000 | — | |
| Net change in cash and restricted cash | 130 | 66 | −1 | −1 | 9 | |
| Cash paid for interest | 1 | 2 | 6 | 3 | — | |
| Property and equipment purchases in accounts payable | 14,000 | 2 | 243,000 | — | — | |
| Operating lease assets obtained in exchange for lease obligations | 11 | 32 | 13 | — | — | |
| Finance lease assets obtained in exchange for lease obligations | 23 | 6 | 6 | — | — |
Filings
Material Events
Insiders
Institutional Holders
Frequently asked questions
What is Innovex International, Inc.'s CIK number?
Innovex International, Inc.'s SEC CIK number is 0001042893 (1042893). 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 Innovex International, Inc.'s SEC filings?
All of Innovex International, Inc.'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 Innovex International, Inc. last report earnings?
Innovex International, Inc. (INVX) most recently filed an earnings 8-K with the SEC on May 4, 2026, furnishing its results under Item 2.02 (Results of Operations and Financial Condition). The earnings press release is attached to that filing (accession 0001193125-26-204105). This is Innovex International, Inc.'s most recent earnings filing of record — not a forecast of its next earnings date.
What is Innovex International, Inc.'s most recent earnings 8-K?
Innovex International, Inc.'s latest earnings 8-K (Item 2.02) was filed May 4, 2026 under accession 0001193125-26-204105. It carries the quarterly or annual earnings press release — the earliest official, SEC-filed version of the results.
View Innovex International, Inc.'s latest earnings 8-K →
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