---
schema_version: "secwatch.filing_event.v1"
accession: "0001193125-23-276116"
form_type: "8-K"
ticker: "DTI"
cik: "0001884516"
company_name: "Drilling Tools International Corp"
filed_at: "2023-11-13T23:59:59+00:00"
generated_at: "2026-06-08T05:41:18.317346+00:00"
event_type: "earnings"
sentiment: "neutral"
materiality_score: 0.7
calibrated_materiality_score: 0.7
confidence: "high"
source: SEC EDGAR
---

# Drilling Tools Q3 revenue $38.1M (+4.4% YoY); net income $4.3M vs $6.7M; FY outlook reiterated

## Summary
- Net revenue $38.1M, up 4.4% from $36.5M in Q3 2022; rental tool revenue rose 9.4% to $29.4M.
- Net income $4.3M ($0.21 diluted EPS) vs $6.7M ($0.36) in Q3 2022; higher tax, personnel, and insurance costs drove decline.
- Adjusted EBITDA $12.7M vs $13.0M in prior-year quarter; cash $4.0M and undrawn $60M revolver.
- Maintains FY2023 guidance: revenue $150-158M, Adj. EBITDA $50-54M, net income $12-19M, capex $44-46M.
- CEO notes revenue fell only 5% from Dec 2022 vs ~20% rig count decline, outperforming the market.

## SEC filing metadata
- accession: 0001193125-23-276116
- form_type: 8-K
- ticker: DTI
- cik: 0001884516
- company_name: Drilling Tools International Corp
- filed_at: 2023-11-13T23:59:59+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/1884516/000119312523276116/0001193125-23-276116-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1884516/000119312523276116/d309237d8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001193125-23-276116
- JSON: https://secwatch.observer/filing/0001193125-23-276116.json
- Plain text: https://secwatch.observer/filing/0001193125-23-276116.txt

## Key facts
- Earnings Releases
  Drilling Tools International Corp reported the third quarter ended September 30, 2023 results: revenue $38.1 million, net income $4.3 million, EPS $0.21 per diluted share.
  - Period: the third quarter ended September 30, 2023
  - Revenue: $38.1 million
  - Net income: $4.3 million
  - EPS: $0.21 per diluted share
  - Result: reported results
  source text: Net Revenue of $38.1 million increased 4.4% from $36.5 million in Q3 2022
  evidence_url: https://www.sec.gov/Archives/edgar/data/1884516/000119312523276116/0001193125-23-276116-index.htm

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