secwatch.observer — SEC 8-K summary
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Issuer:     Innovex International, Inc. (INVX)
CIK:        0001042893
Form:       8-K
Filed at:   2024-08-01T23:59:59+00:00
Accession:  0000950170-24-089244
Event type: earnings
Sentiment:  neutral
Materiality: 0.70
Item codes: 2.02, 7.01, 8.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Dril-Quip Q2 revenue $120.3M (+34% YoY), net loss $1.8M; Innovex merger on track
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- Revenue $120.3M (+9.1% seq, +34.3% YoY); net loss $1.8M vs $20.0M loss in Q1 2024.
- Adjusted EBITDA $16.5M, up $6.3M seq; margin 13.7% from 9.2% in Q1.
- Subsea Products gross bookings $54.1M; net $12.8M after $39.6M customer cancellation (Australia campaign).
- Merger with Innovex on track for Q3 2024; earnings guidance suspended due to pending transaction.
- Well Construction segment (acquired) >40% of revenue; proforma onshore ops now ~33% of total.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1042893/000095017024089244/0000950170-24-089244-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1042893/000095017024089244/drq-20240801.htm
  HTML page:      https://secwatch.observer/filing/0000950170-24-089244

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer