Source-grounded facts extracted from Drilling Tools International Corp's SEC 8-K filings across all families, newest first. Each cites a verbatim SEC excerpt.
Drilling Tools International Corp reported first quarter ended March 31, 2026 results: revenue $38.0 million, net income $1.5 million, EPS loss of $0.04 per share. Guidance reaffirmed.
“today reported its results for the three months ended March 31, 2026. For the first quarter of 2026, DTI generated total consolidated revenue of $38.0 million. First quarter Tool Rental revenue was $28.9 million, and Product Sales revenue totaled approximately $9.0 million. Net Loss attributable to common stockholders for the first quarter was $1.5 million, or a loss of $0.04 per share.”
R. Wayne Prejean was appointed as Chairman of the Board at Drilling Tools International Corp.
“Mr. Prejean commenced service as Chairman of the Board while continuing to serve as the Company’s President and Chief Executive Officer”
C. Richard Vermillion departed as Director at Drilling Tools International Corp.
“C. Richard Vermillion ceased serving as directors of the Company”
Thomas M. "Roe" Patterson departed as Director at Drilling Tools International Corp.
“Thomas M. “Roe” Patterson and C. Richard Vermillion ceased serving as directors of the Company”
Jeremy D. Thigpen was elected as Director at Drilling Tools International Corp.
“Jeremy D. Thigpen were elected”
Daniel J. Kimes was elected as Director at Drilling Tools International Corp.
“Daniel J. Kimes and Jeremy D. Thigpen were elected”
Ira H. Green, Jr. was elected as Director at Drilling Tools International Corp.
“Ira H. Green, Jr., Daniel J. Kimes and Jeremy D. Thigpen were elected”
Shareholder Votes
Drilling Tools International Corp shareholders approved Ratification of the appointment of Weaver & Tidwell, L.L.P. as Drilling Tools’ independent registered public accounting firm for fiscal year 2024 at the 2024-05-14 meeting.
“Proposal 2 – Ratification of the appointment of Weaver & Tidwell, L.L.P. as Drilling Tools’ independent registered public accounting firm for fiscal year 2024. FOR AGAINST ABSTAIN 25,006,304 22 0”
Shareholder Votes
Drilling Tools International Corp shareholders approved Election of Directors at the 2024-05-14 meeting.
“Proposal 1 – Election of Directors. NOMINEES FOR AGAINST ABSTAIN BROKER NON-VOTES Curtis L. Crofford 21,852,899 0 458 3,152,969 John D. ''Jack'' Furst 21,812,236 0 41,121 3,152,969 Thomas O. Hicks 21,812,860 0 40,497 3,152,969 Eric C. Neuman 21,852,899 0 458 3,152,969 Thomas M. ''Roe'' Patterson 21,853,350 0 7 3,152,969 R. Wayne Prejean 21,853,305 0 52 3,152,969 C. Richard Vermillion 21,709,431 0 143,926 3,152,969”
Earnings Releases
Drilling Tools International Corp reported full-year 2024 results: revenue $170 million - $185 million. Guidance reaffirmed.
“from the pending acquisition of Superior Drilling Products. We will update 2024 guidance to include SDP once we close the transaction.” 2024 Full Year Outlook Revenue $170 million - $185 million Adjusted Net Income (1) $15.6 million - $21.9 million Adjusted EBITDA (1) $50 million - $58.5 million Adjusted EBITDA Margin (1) 29% - 32% Adjusted Free Cash Flow”
Earnings Releases
Drilling Tools International Corp reported first quarter 2024 results: revenue $37 million, net income $3.1 million.
“DTI generated total consolidated revenue of $37 million in the first quarter of 2024. First quarter Tool Rental net revenue was approximately $30 million and Product Sales net revenue totaled $7 million. First quarter operating expenses were $31.8 million and operating income was $5.1 million. Net Income and Adjusted Net Income (1) for the first quarter were $3.1 million and $3.8 million, respectively.”
Earnings Releases
Drilling Tools International Corp reported fourth quarter and fiscal year ended December 31, 2023 results: revenue $152 million, net income $14.7 million.
“and offshore horizontal and directional drilling operations, today reported its 2023 full year results and provided its 2024 full year outlook. 2023 Full Year Highlights Revenue $152 million Net Income $14.7 million Adjusted EBITDA (1) $51 million Adjusted EBITDA Margin (1) 33.6% Adjusted Free Cash Flow (1)(2) $7.3 million Wayne Prejean, CEO of DTI, stated, “We are”
Debt Financings
Drilling Tools International Corp incurred credit facility of revolving line of credit in a principal amount up to $80,000,000 and a single draw term loan in a principal amount of $2 with PNC Bank, National Association maturing March 2029.
““ Company ”) refinanced its revolving credit facility (the “ Refinancing ”) by entering into a Second Amended and Restated Revolving Credit, Term Loan and Security and Guaranty Agreement (the “ Credit Facility ”) with certain of the Company’s subsidiaries and PNC Bank, National Association as lender and as agent (“ PNC ”). Pursuant to the terms of the Credit Facility, the Company will be provided a revolving line of credit in a principal amount up to $80,000,000 and a single draw term loan in a principal amount of $25,000,000.”
Material Agreements
Drilling Tools International Corp entered into Second Amended and Restated Revolving Credit, Term Loan and Security and Guaranty Agreement with PNC Bank, National Association valued at revolving line of credit up to $80,000,000 and term loan of $25,000,000 (effective 2024-03-15).
“On March 15, 2024, Drilling Tools International Corporation (the “ Company ”) refinanced its revolving credit facility (the “ Refinancing ”) by entering into a Second Amended and Restated Revolving Credit, Term Loan and Security and Guaranty Agreement (the “ Credit Facility ”) with certain of the Company’s subsidiaries and PNC Bank, National Association as lender and as agent (“ PNC ”).”
M&A Transactions
Drilling Tools International Corp completed an acquisition for approximately £14,500,000 (closed 2024-03-15).
“(100%) of the shares of CTG (the “ Acquisition ”), which wholly owns Deep Casing Tools Limited (“ Deep Casing ”), an energy technology development company, for approximately £14,500,000, of which £250,000 is allocated for the purchase of the CTG shares and £14,250,000 is allocated for the payoff of certain lenders of CTG. The Acquisition was consummated and”
Material Agreements
Drilling Tools International Corp entered into Agreement and Plan of Merger with Superior Drilling Products, Inc. (effective 2024-03-06).
“On March 6, 2024, Drilling Tools International Corporation, a Delaware corporation (the “ Company ”), Superior Drilling Products, Inc., a Utah corporation (“ SDPI ”), DTI Merger Sub I, Inc., a Delaware corporation (“ Merger Sub I ”), and DTI Merger Sub II, LLC, a Delaware limited liability company (“ Merger Sub II ”), entered into an Agreement and Plan of Merger (the “ Merger Agreement ”)”
Earnings Releases
Drilling Tools International Corp reported the fiscal year ended December 31, 2023 results: revenue $150 MM – $154 MM, net income $14.6 MM – $14.9 MM.
“Estimated Revenue $150 MM – $154 MM Estimated Net Income $14.6 MM – $14.9 MM”
Facts are extracted by an LLM and gated to those whose source quote is present verbatim in the filing text. Coverage is best-effort while backfill and monitoring mature; this is not yet a full-market index. See methodology.