secwatch.observer — SEC 8-K summary
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Issuer:     Drilling Tools International Corp (DTI)
CIK:        0001884516
Form:       8-K
Filed at:   2024-03-27T23:59:59+00:00
Accession:  0001140361-24-015620
Event type: earnings
Sentiment:  positive
Materiality: 0.75
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1884516/000114036124015620/0001140361-24-015620-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1884516/000114036124015620/ef20022121_8k.htm
  HTML page:      https://secwatch.observer/filing/0001140361-24-015620

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