Drilling Tools International Corp DTI
On June 20, 2023, a merger transaction between Drilling Tools International Holdings, Inc. ("DTIH"), ROC Energy Acquisition Corp ("ROC"), and ROC Merger Sub, Inc., a directly, wholly owned subsidiary of ROC, was completed (the "Merger"). In connection with the closing of the Merger, ROC changed its name to Drilling Tools International Corporation ("DTIC"). The common stock of DTIC ("Common Stock" or the "DTIC Common Stock") commenced trading on the Nasdaq Stock Market LLC ("Nasdaq") under the symbol "DTI" on June 21, 2023.
Drilling Tools International Corporation is a global oilfield services company that designs, engineers, manufactures and provides a differentiated, rental-focused offering of tools for use in onshore and offshore horizontal and directional drilling operations, as well as other cutting-edge solutions across the well life cycle.
Valuation FY2025 figures against the last close
Annual financial statements
Income statement
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 |
|---|---|---|---|---|---|
| Revenue | $159.6M | $154.4M | $152.0M | $129.6M | — |
| Cost of revenue | — | $38.5M | $35.5M | — | — |
| Gross profit | — | $116.0M | $116.5M | — | — |
| SG&A | $82.2M | $78.7M | $68.3M | $51.6M | — |
| Total operating expenses | $162.5M | $151.5M | $124.1M | $104.3M | — |
| Operating income | — | $13.4M | $27.9M | $25.3M | — |
| Interest expense | — | $7.5M | $6.4M | $384.0K | — |
| Pre-tax income | -$2.9M | $3.0M | $19.8M | $24.8M | — |
| Income tax | $905.0K | $30.0K | $5.0M | $3.7M | — |
| Net income | -$3.8M | $3.0M | $14.7M | $21.1M | — |
| EPS, basic | -0.11 | 0.09 | 0.67 | 1.66 | — |
| EPS, diluted | -0.11 | 0.09 | 0.59 | 1.07 | — |
| Shares, diluted (wtd. avg.) | 35.5M | 32.3M | 25.1M | 19.7M | — |
Balance sheet
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 |
|---|---|---|---|---|---|
| Cash and equivalents | $3.6M | $6.2M | $6.0M | $2.4M | $1.5M |
| Short-term investments | — | $0 | $888.0K | $1.1M | — |
| Receivables | $37.7M | $39.6M | $29.9M | $29.0M | $20.0M |
| Inventory | $18.1M | $17.5M | $5.0M | $3.3M | — |
| Total current assets | $64.9M | $68.1M | $46.4M | $40.2M | $1.4M |
| Property, plant and equipment | $72.6M | $75.6M | $65.8M | $44.2M | — |
| Goodwill | $14.6M | $12.1M | $0 | — | — |
| Other intangibles | $39.7M | $37.2M | $216.0K | $263.0K | — |
| Total assets | $222.2M | $222.4M | $132.5M | $105.2M | $210.4M |
| Accounts payable | $9.8M | $12.0M | $7.8M | $7.3M | — |
| Short-term debt | $6.0M | $7.0M | $0 | — | — |
| Total current liabilities | $30.8M | $31.0M | $22.3M | $36.2M | — |
| Long-term debt | $14.8M | $19.7M | $0 | — | — |
| Total liabilities | $99.3M | $102.5M | $43.8M | $56.1M | $250.0K |
| Retained earnings | -$7.3M | -$3.6M | -$6.3M | -$21.1M | -$235.4K |
| Total equity | $122.9M | $120.0M | $88.7M | $31.2M | $11.2M |
Cash flow
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 |
|---|---|---|---|---|---|
| Operating cash flow | $19.9M | $6.1M | $23.3M | $14.0M | — |
| Depreciation and amortisation | $24.6M | $21.5M | $20.3M | $19.7M | — |
| Stock-based compensation | $2.5M | $2.1M | $4.0M | $0 | — |
| Capital expenditure | $20.1M | $22.9M | $43.8M | $24.7M | — |
| Investing cash flow | -$13.3M | -$53.6M | -$23.9M | -$2.5M | — |
| Financing cash flow | -$9.3M | $47.9M | $4.3M | -$9.3M | — |
| Buybacks | $1.3M | $0 | — | — | — |
Figures as tagged in each year's own filing, in US dollars. A year restated by a later filing shows the restated figure. Capital expenditure, dividends and buybacks are cash out, shown positive. A line the filer does not report is not listed. Latest from accession 0001193125-26-095973.
Plot the figures US dollars
- Revenue
- Gross profit
- Net income
| Fiscal year | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 |
|---|---|---|---|---|---|
| Revenue | — | $129.6M | $152.0M | $154.4M | $159.6M |
| Gross profit | — | — | $116.5M | $116.0M | — |
| Net income | — | $21.1M | $14.7M | $3.0M | -$3.8M |
Recent filings and events
- Results announced The quarterly or annual earnings release. Arrives four times a year from almost every company here. Item 2.02
- Regulation FD disclosure Something the company told the market and had to tell everyone at once - usually a slide deck or a press release. Item 7.01
- Results announced Item 2.02
- Regulation FD disclosure Item 7.01
- Officer or director change Someone at the top arrived or left. The item covers everything from a board retirement to a chief executive being removed, and only the filing itself says which. Item 5.02
- Shareholder vote The results of the annual meeting or a special vote. Item 5.07
- Annual report filed A new 10-K. The figures and the business description on this site come from it. Form 10-K
- Results announced Item 2.02
- Regulation FD disclosure Item 7.01
- Officer or director change Item 5.02
- Regulation FD disclosure Item 7.01
- Other event The catch-all. The company chose to disclose something that fits no other item, so the content is whatever it says it is. Item 8.01
Item numbers are Form 8-K's own, and a filing date is up to four business days after the thing it reports. The same feed across the whole market.
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