---
schema_version: "secwatch.filing_event.v1"
accession: "0001558370-24-011195"
form_type: "8-K"
ticker: null
cik: "0001537028"
company_name: "Independence Contract Drilling, Inc."
filed_at: "2024-08-07T23:59:59+00:00"
generated_at: "2026-05-31T11:43:52.845822+00:00"
event_type: "earnings"
sentiment: "negative"
materiality_score: 0.8
calibrated_materiality_score: 0.8
confidence: "high"
source: SEC EDGAR
---

# ICD reports Q2 net loss $16.7M, revenue down 23% YoY; expects Q3 avg rigs ~13

## Summary
- Net loss $16.7M ($1.15/sh); adjusted net loss $10.6M ($0.73/sh). Revenue $43.3M vs $56.4M YoY.
- Average rigs working 14.5 (down 4% sequentially); utilization 56%. Revenue per day $28,899.
- CEO: Q3 avg rigs expected ~13, recovery to Q2 levels by Q4 end. Headwinds from customer consolidation and drilling efficiencies.
- Director Stacy D. Nieuwoudt resigns effective Aug 16, 2024; no disagreements with company.
- Strategic committee evaluating alternatives including refinancing convertible notes due 2026; no earnings calls during review.

## SEC filing metadata
- accession: 0001558370-24-011195
- form_type: 8-K
- cik: 0001537028
- company_name: Independence Contract Drilling, Inc.
- filed_at: 2024-08-07T23:59:59+00:00
- event_type: earnings
- sentiment: negative
- materiality_score: 0.8
- calibrated_materiality_score: 0.8
- confidence: high
- sec_items: 2.02, 5.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1537028/000155837024011195/0001558370-24-011195-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1537028/000155837024011195/icd-20240805x8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001558370-24-011195
- JSON: https://secwatch.observer/filing/0001558370-24-011195.json
- Plain text: https://secwatch.observer/filing/0001558370-24-011195.txt

## Key facts
- Executive change
  Stacy D. Nieuwoudt resigned as Director at Independence Contract Drilling, Inc..
  - Action: resigned
  - Role: Director
  source text: On August 5, 2024, Stacy D. Nieuwoudt notified Independence Contract Drilling, Inc. (the “Company”) of her decision to resign effective August 16, 2024, from the Board of Directors.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1537028/000155837024011195/0001558370-24-011195-index.htm

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