---
schema_version: "secwatch.filing_event.v1"
accession: "0001140361-24-015620"
form_type: "8-K"
ticker: "DTI"
cik: "0001884516"
company_name: "Drilling Tools International Corp"
filed_at: "2024-03-27T23:59:59+00:00"
generated_at: "2026-06-04T07:24:34.321199+00:00"
event_type: "earnings"
sentiment: "positive"
materiality_score: 0.75
calibrated_materiality_score: 0.75
confidence: "high"
source: SEC EDGAR
---

# DTI reports FY2023 revenue $152M (+17% YoY), adj. EBITDA $51M; guides FY2024 adj. FCF $20-25.5M

## Summary
- FY2023 revenue $152M (+17% YoY), net income $14.7M, adjusted EBITDA $51M (33.6% margin).
- Adjusted free cash flow $7.3M; 2024 guidance for adj. FCF $20-25.5M, more than double.
- Closed acquisition of Deep Casing Tools; entered definitive agreement to acquire Superior Drilling Products (SDPI).
- Amended ABL credit facility: borrowing capacity to $80M, new $25M term loan, maturity March 2029.
- FY2024 outlook: revenue $170-185M, adj. EBITDA $50-58.5M, net income $15-21M.

## SEC filing metadata
- accession: 0001140361-24-015620
- form_type: 8-K
- ticker: DTI
- cik: 0001884516
- company_name: Drilling Tools International Corp
- filed_at: 2024-03-27T23:59:59+00:00
- event_type: earnings
- sentiment: positive
- materiality_score: 0.75
- calibrated_materiality_score: 0.75
- confidence: high
- sec_items: 2.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1884516/000114036124015620/0001140361-24-015620-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1884516/000114036124015620/ef20022121_8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001140361-24-015620
- JSON: https://secwatch.observer/filing/0001140361-24-015620.json
- Plain text: https://secwatch.observer/filing/0001140361-24-015620.txt

## Key facts
- Earnings Releases
  Drilling Tools International Corp reported fourth quarter and fiscal year ended December 31, 2023 results: revenue $152 million, net income $14.7 million.
  - Period: fourth quarter and fiscal year ended December 31, 2023
  - Revenue: $152 million
  - Net income: $14.7 million
  - Result: reported results
  source text: and offshore horizontal and directional drilling operations, today reported its 2023 full year results and provided its 2024 full year outlook. 2023 Full Year Highlights Revenue $152 million Net Income $14.7 million Adjusted EBITDA (1) $51 million Adjusted EBITDA Margin (1) 33.6% Adjusted Free Cash Flow (1)(2) $7.3 million Wayne Prejean, CEO of DTI, stated, “We are
  evidence_url: https://www.sec.gov/Archives/edgar/data/1884516/000114036124015620/0001140361-24-015620-index.htm

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