Earnings ·
Drilling Tools International Corporation reported financial results for the second quarter ended June 30, 2026
DTIDrilling Tools International Corp
Drilling Tools International Corporation reported financial results for the second quarter ended June 30, 2026. The company generated total consolidated revenue of $38.1 million, comprising $29.6 million in Tool Rental revenue and approximately $8.5 million in Product Sales. Net loss attributable to common stockholders was approximately $1.8 million, or a loss of $0.05 per share. Adjusted net loss was $575,000 with an adjusted EPS loss of $0.02 per share. Second quarter Adjusted EBITDA reached $8.4 million and Adjusted Free Cash Flow was $4.1 million. As of June 30, 2026, the company held $2.5 million in cash and cash equivalents with net debt of $51.7 million. Management reaffirmed its full-year 2026 guidance ranges for revenue between $155 million and $170 million and Adjusted EBITDA between $35 million and $45 million. Drilling Tools International Corp operates in the oilfield services industry, designing, engineering, manufacturing, and renting downhole drilling tools for onshore and offshore horizontal and directional drilling operations.