---
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"
generated_at: "2026-06-02T04:15:18.950210+00:00"
event_type: "earnings"
sentiment: "neutral"
materiality_score: 0.5
calibrated_materiality_score: 0.5
confidence: "high"
source: SEC EDGAR
---

# Drilling Tools International reports Q1 2024 revenue of $37M, reaffirms full-year outlook

## Summary
- 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.

## SEC filing metadata
- 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
- event_type: earnings
- sentiment: neutral
- materiality_score: 0.5
- calibrated_materiality_score: 0.5
- confidence: high
- sec_items: 2.02, 9.01
- 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

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001140361-24-025268
- JSON: https://secwatch.observer/filing/0001140361-24-025268.json
- Plain text: https://secwatch.observer/filing/0001140361-24-025268.txt

## Key facts
- Earnings Releases
  Drilling Tools International Corp reported first quarter 2024 results: revenue $37 million, net income $3.1 million.
  - Period: first quarter 2024
  - Revenue: $37 million
  - Net income: $3.1 million
  - Result: reported results
  source text: 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_url: https://www.sec.gov/Archives/edgar/data/1884516/000114036124025268/0001140361-24-025268-index.htm
- Earnings Releases
  Drilling Tools International Corp reported full-year 2024 results: revenue $170 million - $185 million. Guidance reaffirmed.
  - Period: full-year 2024
  - Revenue: $170 million - $185 million
  - Guidance: reaffirmed
  - Result: guidance update
  source text: 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_url: https://www.sec.gov/Archives/edgar/data/1884516/000114036124025268/0001140361-24-025268-index.htm

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