---
schema_version: "secwatch.filing_event.v1"
accession: "0001193125-23-212305"
form_type: "8-K"
ticker: "DTI"
cik: "0001884516"
company_name: "Drilling Tools International Corp"
filed_at: "2023-08-14T23:59:59+00:00"
generated_at: "2026-06-11T12:56:16.946173+00:00"
event_type: "earnings"
sentiment: "neutral"
materiality_score: 0.7
calibrated_materiality_score: 0.7
confidence: "high"
source: SEC EDGAR
---

# DTI reports Q2 2023 revenue up 25% to $37.9M; full-year guidance reduced

## Summary
- Net income fell to $0.9M ($0.05 diluted EPS) from $5.9M ($0.30) in Q2 2022 due to transaction and personnel costs.
- Adjusted EBITDA rose to $13.3M from $8.8M YoY, driven by higher activity and pricing.
- Full-year 2023 guidance lowered: revenue $150–158M, Adjusted EBITDA $50–54M, Net income $12–19M.
- Completed business combination with ROC Energy Acquisition Corp; now trading on Nasdaq as DTI.
- Cash $7.2M with undrawn $60M revolver; appoints Thomas 'Roe' Patterson to Board.

## SEC filing metadata
- accession: 0001193125-23-212305
- form_type: 8-K
- ticker: DTI
- cik: 0001884516
- company_name: Drilling Tools International Corp
- filed_at: 2023-08-14T23:59:59+00:00
- event_type: earnings
- sentiment: neutral
- materiality_score: 0.7
- calibrated_materiality_score: 0.7
- confidence: high
- sec_items: 2.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1884516/000119312523212305/0001193125-23-212305-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1884516/000119312523212305/d482195d8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001193125-23-212305
- JSON: https://secwatch.observer/filing/0001193125-23-212305.json
- Plain text: https://secwatch.observer/filing/0001193125-23-212305.txt

## Key facts
- Earnings Releases
  Drilling Tools International Corp reported the quarter ended June 30, 2023 results: revenue $37.9 million, net income $0.9 million, EPS $0.05 per diluted share. Guidance lowered.
  - Period: the quarter ended June 30, 2023
  - Revenue: $37.9 million
  - Net income: $0.9 million
  - EPS: $0.05 per diluted share
  - Guidance: lowered
  - Result: reported results
  source text: EX-99.1 (EX-99.1) --- EX-99.1 Exhibit 99.1 Drilling Tools International Reports Second Quarter 2023 Financial Results Second Quarter 2023 Revenue Grew 25% Year-over-Year to $37.9 million Successful completion of business combination; Shares commenced trading on Nasdaq HOUSTON, TEXAS – (August 14, 2023) — Drilling Tools International Corp., (“DTI” or the
  evidence_url: https://www.sec.gov/Archives/edgar/data/1884516/000119312523212305/0001193125-23-212305-index.htm

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