{"schema_version":"secwatch.filing_event.v1","accession":"0000950170-24-052062","form_type":"8-K","ticker":"INVX","cik":"0001042893","company_name":"Innovex International, Inc.","filed_at":"2024-05-02T23:59:59+00:00","discovered_at":"2026-05-14T18:03:17.004498+00:00","generated_at":"2026-06-02T23:46:39.327236+00:00","sec_items":["2.02","7.01","8.01","9.01"],"event_type":"earnings","sentiment":"negative","materiality_score":0.8,"calibrated_materiality_score":0.8,"confidence":"high","headline":"Dril-Quip Q1 revenue $110.3M (+21% YoY), net loss $20.0M; Suspends guidance on pending Innovex merger","bullets":["Revenue $110.3M, down 12.7% sequentially, up 21.4% YoY; net loss $20.0M ($0.58 per share) vs net income $1.8M in Q4 2023.","Adjusted EBITDA $10.2M declined $6.4M sequentially; gross margin 28.9% improved 147 bps sequentially and 99 bps YoY.","Incurred $19.0M in merger-related expenses for the pending combination with Innovex, which drove the net loss.","Cash used in operations $4.1M; free cash flow -$8.9M; capital expenditures $4.8M, mainly for equipment and rental tools.","Guidance suspended due to pending merger with Innovex; investors cautioned not to rely on historical outlooks."],"urls":{"canonical":"https://secwatch.observer/filing/0000950170-24-052062","json":"https://secwatch.observer/filing/0000950170-24-052062.json","markdown":"https://secwatch.observer/filing/0000950170-24-052062.md","text":"https://secwatch.observer/filing/0000950170-24-052062.txt","edgar_index":"https://www.sec.gov/Archives/edgar/data/1042893/000095017024052062/0000950170-24-052062-index.htm","edgar_primary_document":"https://www.sec.gov/Archives/edgar/data/1042893/000095017024052062/drq-20240502.htm"},"model":{"generated_by":"deepseek-v4-flash:cloud@v2","generated_at":"2026-06-02T23:46:39.327236+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":"ba171e570d7a778484855fcf55ed404ec68e6a1f","claim":"Innovex International, Inc. reported three months ended March 31, 2024 results: revenue $110.3 million, net income net loss of $20.0 million, EPS a loss of $0.58 per share.","evidence_excerpt":"technologies for use in the energy industry, today reported operational and financial results for the three months ended March 31, 2024. First Quarter Highlights • Revenue of $110.3 million decreased 12.7% sequentially and increased 21.4% year-over-year • Net Subsea Product Bookings of $41.1 million • Net Loss of $20.0 million decreased $21.8 million sequentially","evidence_source":"SEC 8-K Item 2.02","evidence_url":"https://www.sec.gov/Archives/edgar/data/1042893/000095017024052062/0000950170-24-052062-index.htm","confidence":0.9,"family_label":"Earnings Releases","details":[{"label":"Period","value":"three months ended March 31, 2024"},{"label":"Revenue","value":"$110.3 million"},{"label":"Net income","value":"net loss of $20.0 million"},{"label":"EPS","value":"a loss of $0.58 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"}