Drilling Tools International Corp — fact timeline

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.”

Drilling Tools International Corp shareholders approved Ratification of the appointment of Grant Thornton LLP as Drilling Tools’ independent registered public accounting firm for fiscal year 2026. at the 2026-04-28 meeting.

“Proposal 2 – Ratification of the appointment of Grant Thornton LLP as Drilling Tools’ independent registered public accounting firm for fiscal year 2026. FOR AGAINST ABSTAIN 18,776,126 12,368 1,299”

Drilling Tools International Corp shareholders approved Election of Directors at the 2026-04-28 meeting.

“Proposal 1 – Election of Directors. NOMINEES FOR WITHHELD BROKER NON-VOTES Curtis L. Crofford 7,540,574 3,855,450 7,393,769 John D. ''Jack'' Furst 7,677,322 3,718,702 7,393,769 Ira H. Green, Jr. 8,943,855 2,452,169 7,393,769 Eric C. Neuman 8,944,169 2,451,855 7,393,769 Daniel J. Kimes 8,940,961 2,455,063 7,393,769 R. Wayne Prejean 8,527,434 2,868,590 7,393,769 Jeremey D. Thigpen 8,944,277 2,451,747 7,393,769”

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”

Drilling Tools International Corp reported 2026 results: revenue $155 million — $170 million. Guidance initiated.

“2026 Full Year Outlook Revenue $155 million — $170 million Adjusted EBITDA(1) $35 million — $45 million Adjusted EBITDA Margin(1) 23% — 26% Adjusted Free Cash Flow(1)(2) $17 million — $22 million”

Drilling Tools International Corp reported the twelve months of 2025 results: revenue $159.6 million, net income loss of approximately $3.8 million, EPS loss of $0.11 per share.

“For the twelve months of 2025, DTI generated total consolidated revenue of $159.6 million. 2025 Tool Rental revenue was $129.6 million and Product Sale revenue totaled approximately $30.1 million. Net Loss attributable to shareholders for 2025 was a loss of approximately $3.8 million or a loss of $0.11 per share.”

Drilling Tools International Corp reported the fourth quarter of 2025 results: revenue $38.5 million, net income $1.2 million, EPS $0.03 per share.

“For the fourth quarter of 2025, DTI generated total consolidated revenue of $38.5 million. Fourth quarter Tool Rental revenue was $30.4 million, and Product Sales revenue totaled approximately $8.1 million. Net Income attributable to common stockholders for the fourth quarter was $1.2 million or $0.03 per share.”

Drilling Tools International Corp dismissed Weaver and Tidwell, L.L.P. as its auditor.

“the Committee approved the dismissal of Weaver and Tidwell, L.L.P. ("Weaver") as the Company’s independent registered public accounting firm”

Drilling Tools International Corp engaged Grant Thornton LLP as its auditor.

“the Committee approved the appointment of Grant Thornton LLP ("Grant Thornton") as the Company’s independent registered public accounting firm for the fiscal year ending December 31, 2025”

Drilling Tools International Corp completed an acquisition involving Superior Drilling Products, Inc. (closed 2024-08-06).

“On August 6, 2024, Drilling Tools International Corporation (the “ Company ”) filed a Current Report on Form 8-K (the “ Original Form 8-K ”) to report the completion (the “ Closing ”) of the Merger (defined below) consummated in connection with the Agreement and Plan of Merger (the “ Merger Agreement ”), dated March 6, 2024, by and among the Company, Superior Drilling Products, Inc., a Utah corporation (“ SDPI ”), DTI Merger Sub I, a Delaware corporation and wholly owned subsidiary of DTI (“ Merger Sub I ”), and DTI Merger Sub II, LLC, a Delaware limited liability company and direct wholly owned subsidiary of DTI (“ Merger Sub II ”).”

Drilling Tools International Corp completed an acquisition involving Superior Drilling Products, Inc. for total consideration paid in cash and DTI stock of approximately $32.2 million (closed 2024-08-01).

“life cycle, today announced that it has closed on its acquisition of Superior Drilling Products, Inc. (“SDP”) for total consideration paid in cash and DTI stock of approximately $32.2 million per the merger agreement, subject to purchase price accounting adjustments. DTI also reported today its 2024 second quarter results. Wayne Prejean, CEO of DTI, stated, “We are”

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”

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”

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”

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.”

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”

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.”

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 ”).”

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”

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 ”)”

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”

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.

“Net Revenue of $38.1 million increased 4.4% from $36.5 million in Q3 2022”

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.

“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”

Drilling Tools International Corp: ROC ceased to be a shell company as a result of the Business Combination.

“As a result of the Business Combination, ROC ceased to be a shell company.”

Drilling Tools International Corp: Adopted a new code of business conduct applicable to all employees, officers and directors.

“On the Closing Date, in connection with the Closing, the Board adopted a new code of business conduct applicable to all of DTIC's employees, officers and directors.”

Drilling Tools International Corp: Adopted Amended and Restated Bylaws, effective upon consummation of the Business Combination.

“the Board approved and adopted DTIC's Amended and Restated Bylaws, which became effective upon the consummation of the Business Combination.”

Drilling Tools International Corp: Adopted Second Amended and Restated Certificate of Incorporation, effective upon filing with the Secretary of State of Delaware on the Closing Date.

“DTIC's Second Amended and Restated Certificate of Incorporation, which became effective upon filing with the Secretary of State of the State of Delaware on the Closing Date, includes the amendments included in the Charter Proposal.”

Drilling Tools International Corp completed a disposition involving ROC Energy Acquisition Corp. (closed 2023-06-20).

“Merger Sub merged with and into DTIH, with DTIH surviving the merger as a wholly owned subsidiary of ROC”

Drilling Tools International Corp underwent a change of control involving Drilling Tools International Holdings, Inc. (closed 2023-06-20).

“On June 20, 2023 (the “Closing Date”), Drilling Tools International Holdings, Inc., a Delaware corporation (“DTIH”), ROC Energy Acquisition Corp., a Delaware corporation (“ROC”), and ROC Merger Sub, Inc., a Delaware corporation and a directly, wholly owned subsidiary of ROC (“Merger Sub”), consummated the previously announced business combination pursuant to the Agreement and Plan of Merger, dated February 13, 2023”

Drilling Tools International Corp amended credit facility of $60.0 million with PNC Bank, National Association at the sum of the applicable margin, plus a base rate calculated by reference to th.

“National Association, as lender and agent. The Amended and Restated Credit Facility Agreement provides for a revolving credit facility with a maximum revolving advance amount of $60.0 million. The proceeds under the Amended and Restated Credit Facility Agreement may be used to (i) pay fees and expenses related to the Amended and Restated Credit Facility Agreement and”

Thomas M. "Roe" Patterson was appointed as Director at Drilling Tools International Corp.

“To fill the subsequent vacancy, the Board immediately thereafter appointed Thomas M. “Roe” Patterson as a director.”

Joseph Colonnetta resigned as Director at Drilling Tools International Corp.

“Joseph Drysdale, Daniel J. Kimes, Brian Minnehan, Alberto Pontonio, Lee Canaan, Win Graham and Joseph Colonnetta, each a member of the board of directors of ROC, resigned.”

Win Graham resigned as Director at Drilling Tools International Corp.

“Joseph Drysdale, Daniel J. Kimes, Brian Minnehan, Alberto Pontonio, Lee Canaan, Win Graham and Joseph Colonnetta, each a member of the board of directors of ROC, resigned.”

Lee Canaan resigned as Director at Drilling Tools International Corp.

“Joseph Drysdale, Daniel J. Kimes, Brian Minnehan, Alberto Pontonio, Lee Canaan, Win Graham and Joseph Colonnetta, each a member of the board of directors of ROC, resigned.”

Alberto Pontonio resigned as Director at Drilling Tools International Corp.

“Joseph Drysdale, Daniel J. Kimes, Brian Minnehan, Alberto Pontonio, Lee Canaan, Win Graham and Joseph Colonnetta, each a member of the board of directors of ROC, resigned.”

Brian Minnehan resigned as Director at Drilling Tools International Corp.

“Joseph Drysdale, Daniel J. Kimes, Brian Minnehan, Alberto Pontonio, Lee Canaan, Win Graham and Joseph Colonnetta, each a member of the board of directors of ROC, resigned.”

Joseph Drysdale resigned as Director at Drilling Tools International Corp.

“Joseph Drysdale, Daniel J. Kimes, Brian Minnehan, Alberto Pontonio, Lee Canaan, Win Graham and Joseph Colonnetta, each a member of the board of directors of ROC, resigned.”

Daniel J. Kimes resigned as Director at Drilling Tools International Corp.

“Joseph Drysdale, Daniel J. Kimes, Brian Minnehan, Alberto Pontonio, Lee Canaan, Win Graham and Joseph Colonnetta, each a member of the board of directors of ROC, resigned.”

Rosemarie Cicalese resigned as Chief Financial Officer at Drilling Tools International Corp.

“Daniel J. Kimes and Rosemarie Cicalese, the Chief Executive Officer and Chief Financial Officer, respectively, of ROC, resigned.”

Daniel J. Kimes resigned as Chief Executive Officer at Drilling Tools International Corp.

“Daniel J. Kimes and Rosemarie Cicalese, the Chief Executive Officer and Chief Financial Officer, respectively, of ROC, resigned.”

Drilling Tools International Corp amended Amended and Restated Stock Escrow Agreement with ROC, Continental Stock Transfer & Trust Company, and certain stockholders of ROC (the Founders) (effective 2023-06-08).

“On June 8, 2023, ROC, CST and certain stockholders of ROC (the “Founders”) entered into an amended and restated stock escrow agreement (the “Amended and Restated Stock Escrow Agreement”)”

Drilling Tools International Corp amended Merger Agreement Amendment with ROC Energy Acquisition Corp., ROC Merger Sub, Inc., and Drilling Tools International Holdings, Inc. (effective 2023-06-05).

“On June 5, 2023, ROC Energy Acquisition Corp., a Delaware corporation (“ROC”), ROC Merger Sub, Inc., a Delaware corporation (“Merger Sub”), and Drilling Tools International Holdings, Inc., a Delaware corporation (“DTI”) entered into the First Amendment to the Agreement and Plan of Merger (the “Merger Agreement Amendment”)”

Drilling Tools International Corp: Stockholders approved amendment to certificate of incorporation to extend the date by which the company must consummate a business combination from June 6, 2023 to August 6, 2023, in two one-month extensions (effective 2023-06-01).

“The Charter Amendment Proposal – a proposal to amend the Company’s amended and restated certificate of incorporation (the “Existing Charter”) to extend the date by which the Company must consummate a Business Combination, up to two times, from June 6, 2023 (the “Termination Date”) to August 6, 2023, composed of two one-month extensions (each an “Extension” and the end date of each Extension, the “Extended Date”), for a total of up to two months after the Termination Date”

Drilling Tools International Corp: Stockholders approved proposed amended and restated certificate of incorporation of ROC, to be effective upon closing of the business combination.

“The Charter Proposal – a proposal to approve the proposed amended and restated certificate of incorporation of ROC, which will replace ROC’s Amended and Restated Certificate of Incorporation, dated December 1, 2021 and will be in effect upon the closing (the “Closing”) of the Business Combination.”

Drilling Tools International Corp entered into Agreement and Plan of Merger with ROC Energy Acquisition Corp., ROC Merger Sub, Inc. (effective 2023-02-13).

“ROC Energy Acquisition Corp., a Delaware corporation (prior to the Effective Time (as defined below), “ ROC Energy ” and, at and after the Effective Time, “ PubCo ”) entered into an agreement and plan of merger (as it may be amended, supplemented or otherwise modified from time to time, the “ Merger Agreement ”) with ROC Merger Sub, Inc., a Delaware corporation and a direct, wholly owned subsidiary of ROC Energy (“ Merger Sub ”), and Drilling Tools International Holdings, Inc., a Delaware corporation (“ Drilling Tools ”).”