secwatch.observer — SEC 8-K summary
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Issuer:     Drilling Tools International Corp (DTI)
CIK:        0001884516
Form:       8-K
Filed at:   2023-08-14T23:59:59+00:00
Accession:  0001193125-23-212305
Event type: earnings
Sentiment:  neutral
Materiality: 0.70
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1884516/000119312523212305/0001193125-23-212305-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1884516/000119312523212305/d482195d8k.htm
  HTML page:      https://secwatch.observer/filing/0001193125-23-212305

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