{"schema_version":"secwatch.filing_event.v1","accession":"0000950170-23-018775","form_type":"8-K","ticker":"INVX","cik":"0001042893","company_name":"Innovex International, Inc.","filed_at":"2023-05-08T23:59:59+00:00","discovered_at":"2026-05-14T18:03:37.738821+00:00","generated_at":"2026-06-15T11:56:36.015603+00:00","sec_items":["2.02","7.01","9.01"],"event_type":"earnings","sentiment":"neutral","materiality_score":0.75,"calibrated_materiality_score":0.75,"confidence":"high","headline":"Dril-Quip Q1 revenue up 9% YoY to $90.9M, net income $2.3M; bookings fall 43% sequentially; provides FY2023 outlook","bullets":["Revenue $90.9M (+9% YoY, -6% sequential); net income $2.3M ($0.07 EPS) vs. loss of $0.3M in Q4'22.","Adjusted EBITDA $8.8M (up from $3.2M YoY); gross margin 27.9% (-333bps sequentially, +489bps YoY).","Net bookings $53.5M, down 43% sequentially and 20% YoY; management expects bookings growth through year on MSA activity.","FY2023 outlook: revenue growth 10%, bookings growth 10-20%, adjusted EBITDA incremental margins 40-60%, capex $25-30M.","Free cash flow negative $58.3M on working capital timing; expects $40M cash from AR reduction by Q3 2023; $103M buyback authorization remains."],"urls":{"canonical":"https://secwatch.observer/filing/0000950170-23-018775","json":"https://secwatch.observer/filing/0000950170-23-018775.json","markdown":"https://secwatch.observer/filing/0000950170-23-018775.md","text":"https://secwatch.observer/filing/0000950170-23-018775.txt","edgar_index":"https://www.sec.gov/Archives/edgar/data/1042893/000095017023018775/0000950170-23-018775-index.htm","edgar_primary_document":"https://www.sec.gov/Archives/edgar/data/1042893/000095017023018775/drq-20230508.htm"},"model":{"generated_by":"deepseek-v4-flash:cloud@v2","generated_at":"2026-06-15T11:56:36.015603+00:00"},"review":{"review_status":"machine_generated","human_reviewed":false,"corrected":false,"correction_note":null,"correction_timestamp":null,"superseded_by":null,"related_filings":[]},"source_grounded_claims":[{"claim_id":"dbbfcafad4bc6f1ac441b245c6570e95d704142e","claim":"Innovex International, Inc. reported first quarter of 2023 results: revenue $90.9 million, net income $2.3 million, or $0.07 per share, EPS $0.07 per share.","evidence_excerpt":"and innovative technologies for use in the energy industry, today reported operational and financial results for the first quarter of 2023. First Quarter Highlights • Revenue of $90.9 million decreased 6% sequentially and increased 9% year-over-year • Net Bookings of $53.5 million decreased 43% sequentially and 20% year-over-year • Net Income of $2.3 million increased","evidence_source":"SEC 8-K Item 2.02","evidence_url":"https://www.sec.gov/Archives/edgar/data/1042893/000095017023018775/0000950170-23-018775-index.htm","confidence":0.9,"family_label":"Earnings Releases","details":[{"label":"Period","value":"first quarter of 2023"},{"label":"Revenue","value":"$90.9 million"},{"label":"Net income","value":"$2.3 million, or $0.07 per share"},{"label":"EPS","value":"$0.07 per share"},{"label":"Result","value":"reported results"}],"fact_type":"earnings_release"}],"license":"Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer"}