---
schema_version: "secwatch.filing_event.v1"
accession: "0000950170-24-082091"
form_type: "8-K"
ticker: "INVX"
cik: "0001042893"
company_name: "Innovex International, Inc."
filed_at: "2024-07-08T23:59:59+00:00"
generated_at: "2026-05-31T22:46:41.921649+00:00"
event_type: "other_material"
sentiment: "negative"
materiality_score: 0.65
calibrated_materiality_score: 0.65
confidence: "high"
source: SEC EDGAR
---

# Dril-Quip restates 2021 financials on $67M inventory write-down misclassification

## Summary
- Audit committee concludes 2021 financials can no longer be relied upon after SEC comment letter.
- Misclassified $67M inventory write-downs (2021: $19.3M strategic plan, $47.7M product discontinuation) from restructuring to cost of sales.
- Error had no impact on net income, income before taxes, or adjusted EBITDA.
- Management reports material weakness in internal controls over classification of inventory write-downs; disclosure controls deemed ineffective.
- Company will file amended 2023 10-K and Q1 2024 10-Q on July 8, 2024.

## SEC filing metadata
- accession: 0000950170-24-082091
- form_type: 8-K
- ticker: INVX
- cik: 0001042893
- company_name: Innovex International, Inc.
- filed_at: 2024-07-08T23:59:59+00:00
- event_type: other_material
- sentiment: negative
- materiality_score: 0.65
- calibrated_materiality_score: 0.65
- confidence: high
- sec_items: 2.02, 4.02
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1042893/000095017024082091/0000950170-24-082091-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1042893/000095017024082091/drq-20240708.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0000950170-24-082091
- JSON: https://secwatch.observer/filing/0000950170-24-082091.json
- Plain text: https://secwatch.observer/filing/0000950170-24-082091.txt

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.