{"schema_version":"secwatch.filing_event.v1","accession":"0001140361-24-025268","form_type":"8-K","ticker":"DTI","cik":"0001884516","company_name":"Drilling Tools International Corp","filed_at":"2024-05-10T23:59:59+00:00","discovered_at":"2026-05-14T18:03:21.088651+00:00","generated_at":"2026-06-02T04:15:18.950210+00:00","sec_items":["2.02","9.01"],"event_type":"earnings","sentiment":"neutral","materiality_score":0.5,"calibrated_materiality_score":0.5,"confidence":"high","headline":"Drilling Tools International reports Q1 2024 revenue of $37M, reaffirms full-year outlook","bullets":["Q1 revenue $37M: Tool Rental $30M, Product Sales $7M.","Net income $3.1M, Adj. net income $3.8M; Adj. EBITDA $10.9M; Adj. free cash flow $4.7M.","Ended quarter with $14M cash, net debt $11M; undrawn $80M ABL facility.","Agreed to acquire Superior Drilling Products and closed Deep Casing Tools acquisition.","Reaffirmed 2024 outlook: revenue $170M-$185M, Adj. EBITDA $50M-$58.5M."],"urls":{"canonical":"https://secwatch.observer/filing/0001140361-24-025268","json":"https://secwatch.observer/filing/0001140361-24-025268.json","markdown":"https://secwatch.observer/filing/0001140361-24-025268.md","text":"https://secwatch.observer/filing/0001140361-24-025268.txt","edgar_index":"https://www.sec.gov/Archives/edgar/data/1884516/000114036124025268/0001140361-24-025268-index.htm","edgar_primary_document":"https://www.sec.gov/Archives/edgar/data/1884516/000114036124025268/ef20028833_8k.htm"},"model":{"generated_by":"deepseek-v4-flash:cloud@v2","generated_at":"2026-06-02T04:15:18.950210+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":"55f136a08115989e5d0908c3554904fbe43d1c82","claim":"Drilling Tools International Corp reported first quarter 2024 results: revenue $37 million, net income $3.1 million.","evidence_excerpt":"DTI generated total consolidated revenue of $37 million in the first quarter of 2024. First quarter Tool Rental net revenue was approximately $30 million and Product Sales net revenue totaled $7 million. First quarter operating expenses were $31.8 million and operating income was $5.1 million. Net Income and Adjusted Net Income (1) for the first quarter were $3.1 million and $3.8 million, respectively.","evidence_source":"SEC 8-K Item 2.02","evidence_url":"https://www.sec.gov/Archives/edgar/data/1884516/000114036124025268/0001140361-24-025268-index.htm","confidence":0.9,"family_label":"Earnings Releases","details":[{"label":"Period","value":"first quarter 2024"},{"label":"Revenue","value":"$37 million"},{"label":"Net income","value":"$3.1 million"},{"label":"Result","value":"reported results"}],"fact_type":"earnings_release"},{"claim_id":"f4f87dadc963bd040567d31929df0e04fb95b47d","claim":"Drilling Tools International Corp reported full-year 2024 results: revenue $170 million - $185 million. Guidance reaffirmed.","evidence_excerpt":"from the pending acquisition of Superior Drilling Products. We will update 2024 guidance to include SDP once we close the transaction.” 2024 Full Year Outlook Revenue $170 million - $185 million Adjusted Net Income (1) $15.6 million - $21.9 million Adjusted EBITDA (1) $50 million - $58.5 million Adjusted EBITDA Margin (1) 29% - 32% Adjusted Free Cash Flow","evidence_source":"SEC 8-K Item 2.02","evidence_url":"https://www.sec.gov/Archives/edgar/data/1884516/000114036124025268/0001140361-24-025268-index.htm","confidence":0.9,"family_label":"Earnings Releases","details":[{"label":"Period","value":"full-year 2024"},{"label":"Revenue","value":"$170 million - $185 million"},{"label":"Guidance","value":"reaffirmed"},{"label":"Result","value":"guidance update"}],"fact_type":"earnings_release"}],"license":"Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer"}