secwatch.observer — SEC 8-K summary
======================================

Issuer:     Drilling Tools International Corp (DTI)
CIK:        0001884516
Form:       8-K
Filed at:   2024-05-10T23:59:59+00:00
Accession:  0001140361-24-025268
Event type: earnings
Sentiment:  neutral
Materiality: 0.50
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

- 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.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1884516/000114036124025268/0001140361-24-025268-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1884516/000114036124025268/ef20028833_8k.htm
  HTML page:      https://secwatch.observer/filing/0001140361-24-025268

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