Highest-materiality recent filing
Innovex closes TCO Group acquisition, issues 1,060,713 shares as merger consideration
Closed acquisition of TCO Group AS on July 1, 2026.
Innovex to acquire TCO Group for $95M; expects 13% EPS accretion, 14% ROCE
Purchase price ~$95M: $30M in stock (~1.06M shares at ~$28.20 VWAP) and $65M cash.
Innovex shareholders elect three directors, ratify PwC auditor, approve executive compensation
All three director nominees elected with strong support: John Lovoi (55.2M for), Angie Sedita (58.6M for), Will Donnell (61.3M for).
Innovex Q1 revenue $239M, net loss $17M; Adj. EBITDA $49M beat guidance
Revenue $239M, down 13% QoQ, down 1% YoY; net loss $16.7M vs net income of $14.0M in Q1 2025.
Innovex subsidiary hit with $47.6M jury verdict in patent infringement suit by Impulse
Jury found DWS infringed three Impulse patents on friction reduction tools; infringement deemed willful.
Innovex secondary offering of 5.75M shares at $25.75; co. repurchases 575k shares for $14.1M
Selling stockholders (Amberjack affiliates) sold 5,750,000 shares at $25.75; underwriters exercised option for 862,500 shares fully.
Innovex Q4 revenue $274M, up 14% QoQ; full year net income $83M vs $140M prior year
Q4 revenue $274M, up 14% sequentially; net income $14M, margin 5%.
Director Carri Lockhart resigns from Innovex Board effective March 2, 2026
Carri Lockhart notified the Board of her resignation as director, effective March 2, 2026.
Innovex Q3 revenue $240M (+7% QoQ); closes $90M facility sale, signs OneSubsea deal
Revenue $240M, up 7% QoQ; net income $39M (16% margin); adjusted EBITDA $44M (18% margin).
Innovex Q2 revenue $224M (-7% QoQ), Adj. EBITDA $47M; closes Citadel acquisition, issues Q3 guidance
Revenue $224M, net income $15M; Adjusted EBITDA $47M (21% margin); FCF $52M; capex $7M (3% revenue).
Innovex awards RSUs and performance units to CEO, CFO, and President
CEO Adam Anderson granted 68,073 RSUs and 68,073 performance units; CFO Kendal Reed and President Mark Reddout each 25,527 RSUs and 25,527 performance units.
Innovex shareholders approve doubling authorized shares to 200M, adopt 2025 LTIP
Amendment increases authorized common stock from 100M to 200M shares; becomes effective May 14, 2025.
Innovex Q1 revenue $240M, Adj EBITDA $46M, sells facility for $95M, guides Q2 lower
Revenue $240M (-4% QoQ), net income $15M, Adjusted EBITDA $46M (19% margin).
Innovex to sell Eldridge facility for $95M; prelim Q1 rev ~$240M vs guidance $245-255M
Sale of Houston campus to BIG Acquisitions LLC for $95M; expected close Q3 2025; short-term lease until Dec 2025 at $650K/mo.
Innovex appoints Will Donnell as Class II director following Patrick Connelly's passing
Will Donnell appointed to fill vacancy left by deceased director Patrick Connelly, effective March 3, 2025.
Innovex Q4 2024 earnings call transcript omits results; director Patrick Connelly dies
CEO Adam Anderson announced unexpected passing of director Patrick Connelly on Feb 26, 2025.
Innovex Q4 revenue $251M (+65% QoQ); achieves $30M merger synergies early; announces $100M buyback
Q4 revenue $251M (+65% QoQ); net income $32M (13% margin); Adjusted EBITDA $49M (20% margin).
Innovex International exploring sale of its Eldrige facilities in Houston
Pursuing sale of facilities at 6401 N Eldridge Pkwy, Houston, TX as part of infrastructure assessment.
Innovex acquires 80% of Downhole Well Solutions for $103.7M ($68M cash + stock)
Purchase price $103.7M: $68M cash and 1,918,558 shares of Innovex common stock.
Innovex Q3 2024 revenue $152M, net income $83M on $93M bargain purchase gain, diluted EPS $1.99
Revenue $152M (+17% QoQ); net income $83M (54% margin) includes $93M bargain purchase gain from Dril-Quip merger.
Innovex settles stockholder lawsuit for $540K; extends former CFO's agreement to Nov 8
Settled class action challenging voting/transfer restrictions in Amberjack Stockholders Agreement for $540K in attorneys' fees.
Innovex International dismisses Grant Thornton, appoints PwC as auditor following merger
Audit Committee dismissed Grant Thornton LLP (GT) on Sept 27, 2024; PwC approved as successor same day.
Pre-Merger Innovex audited financials show 2023 rev $555.5M, net income $73.9M, accounting acquirer
Revenue grew to $555.5M in 2023 (18.9% YoY) from $467.2M in 2022 and $294.8M in 2021.
Former CFO Kyle McClure engaged as independent contractor for $10,000/month plus $10,000 per out-of-country trip, from Sept 9 to Oct 8, 2024.
Dril-Quip and Innovex merger closes; combined co. renamed Innovex International, Inc. (INVX)
Pre-Merger Innovex shareholders received ~32.2M shares; combined co. owned 52% by Dril-Quip holders, 48% by Innovex.
Dril-Quip stockholders approve share issuance for Innovex merger; incentive plan fails
Proposal 1 (share issuance for mergers) approved: 20,589,605 for, 10,994,983 against.
Dril-Quip withdraws charter amendment proposal for Innovex merger; waives condition
Waiver executed Aug 25, 2024: charter amendment (Proposal 2) and governance proposals (3A-F) withdrawn from Sep 5 special meeting.
ISS recommends Dril-Quip stockholders vote FOR merger with Innovex
ISS recommends voting "FOR" the merger, citing strategic rationale and financial benefits.
Dril-Quip and Innovex provide joint investor presentation for proposed merger
Dril-Quip and Innovex furnished a supplemental investor presentation for their proposed business combination.
Dril-Quip amends Item 4.02; clarifies 2021 EBITDA only affected by misclassification
Adjusted EBITDA for year ended Dec 31, 2021 was impacted by previously disclosed misclassification per Form 10-K/A filed August 1, 2024.
Dril-Quip Q2 revenue $120.3M (+34% YoY), net loss $1.8M; Innovex merger on track
Revenue $120.3M (+9.1% seq, +34.3% YoY); net loss $1.8M vs $20.0M loss in Q1 2024.
Dril-Quip appoints Benjamin M. Fink to board, filling vacancy
Benjamin M. Fink appointed as Class III director effective July 8, 2024.
Dril-Quip restates 2021 financials on $67M inventory write-down misclassification
Audit committee concludes 2021 financials can no longer be relied upon after SEC comment letter.
Director Amy B. Schwetz resigns from Dril-Quip board effective May 17, 2024
Amy B. Schwetz resigned immediately as board member and audit committee chair, citing no disagreement with the company.
Dril-Quip and Innovex provide supplemental merger info in joint investor presentation
Joint investor presentation published May 14, 2024, includes supplemental details on proposed Dril-Quip/Innovex combination.
Dril-Quip clears HSR waiting period for Innovex merger; settles shareholder lawsuit
HSR waiting period expired May 1, 2024, allowing Dril-Quip-Innovex merger to proceed.
Dril-Quip shareholders elect Amy B. Schwetz as director, ratify PwC, approve executive compensation
Amy B. Schwetz elected to three-year term with 27.4M votes for, 1.4M against.
Revenue $110.3M, down 12.7% sequentially, up 21.4% YoY; net loss $20.0M ($0.58 per share) vs net income $1.8M in Q4 2023.
Dril-Quip to merge with Innovex in all-stock deal; Dril-Quip holders own ~52%
Dril-Quip (DRQ) and Innovex sign definitive merger agreement; all-stock transaction.
Dril-Quip Q4 revenue $126.3M (+31% YoY); FY 2024 EBITDA guidance $65-75M
Q4 revenue $126.3M, up 31% YoY; net income $1.8M vs net loss $0.3M a year ago.
Dril-Quip Q3 2023: Revenue up 31% sequentially to $117M, net loss $7.0M
Net loss $7.0M ($0.21 loss per share) vs net income $13.3M in Q3 2022.
Dril-Quip board sets annual Say-on-Pay votes through 2029
Board adopts annual frequency for Say-on-Pay advisory votes based on May 2023 shareholder vote.
Dril-Quip acquires Great North Wellhead for ~$80M CAD; Q2 revenue $89.6M, net income $3.5M
Acquired Great North Wellhead for $105M CAD (~$80M USD) cash, plus up to $30M CAD earnout based on revenue growth targets.
Dril-Quip amends bylaws and reports annual meeting voting results
Bylaws amended to enhance disclosure requirements for stockholder proposals and director nominations.
Revenue $90.9M (+9% YoY, -6% sequential); net income $2.3M ($0.07 EPS) vs. loss of $0.3M in Q4'22.
Dril-Quip Q4 revenue $96.8M (+24% YoY); net loss narrows to $0.3M; guides 2023 revenue growth 10%
Q4 revenue $96.8M, up 10% sequentially and 24% YoY; net loss $0.3M vs net income $15.2M in Q3.
Dril-Quip Q3 revenue $88.1M, net income $15.2M on forge sale; adj EBITDA $7.0M
Revenue $88.1M, down $5.8M vs Q2; net income $15.2M ($0.45 EPS) including $17.3M gain on Houston forge sale.
Dril-Quip Q2 revenue $94M, net loss $5.6M; reaffirms 10% full-year growth target
Revenue $94.0M, up 13% sequentially; net loss $5.6M ($0.16/sh) vs. Q1 loss $9.0M.
Dril-Quip annual meeting elects three directors, ratifies PwC, approves exec pay
Terence B. Jupp, Carri A. Lockhart, Darryl K. Willis elected as directors for three-year terms.
Dril-Quip reports Q1 2022: revenue $83.1M, net loss $8.9M, orders improving
Revenue $83.1M, up $5.2M sequentially; net loss $8.9M ($0.26 loss per share).
On March 3, 2025, the Board of Directors (the “Board”) of Innovex International, Inc. (the “Company”) appointed Mr. Will Donnell to serve as a Class II director, effective March 3, 2025, to fill the vacancy arising from the passing of Patrick Connelly.
the passing of Patrick Connelly
each of the following officers: (i) Jeffrey J. Bird, the Company’s President and Chief Executive Officer, (ii) Kyle F. McClure, the Company’s Vice President and Chief Financial Officer, (iii) James C. Webster, the Company’s Vice President, General Counsel and Secretary, and (iv) Don Underwood, the Company’s Vice President of Subsea Products (each, an “Executive Officer”) were terminated without cause, effective as of the closing date of the Mergers.
Jeffrey J. Bird and Darryl K. Willis each delivered a letter effectuating his resignation as a director of the Company and, as of the Effective Time, each ceased to be a director of the Company.
the Board was increased to nine members, which consists of the following members: (i) Adam Anderson, Bonnie S. Black, Patrick Connelly, Angie Sedita and Jason Turowsky, each a former member of the Pre-Merger Innovex board of directors who was appointed to the Board
the Board was increased to nine members, which consists of the following members: (i) Adam Anderson, Bonnie S. Black, Patrick Connelly, Angie Sedita and Jason Turowsky, each a former member of the Pre-Merger Innovex board of directors who was appointed to the Board
the Board was increased to nine members, which consists of the following members: (i) Adam Anderson, Bonnie S. Black, Patrick Connelly, Angie Sedita and Jason Turowsky, each a former member of the Pre-Merger Innovex board of directors who was appointed to the Board
the Board was increased to nine members, which consists of the following members: (i) Adam Anderson, Bonnie S. Black, Patrick Connelly, Angie Sedita and Jason Turowsky, each a former member of the Pre-Merger Innovex board of directors who was appointed to the Board
each of the following officers: (i) Jeffrey J. Bird, the Company’s President and Chief Executive Officer, (ii) Kyle F. McClure, the Company’s Vice President and Chief Financial Officer, (iii) James C. Webster, the Company’s Vice President, General Counsel and Secretary, and (iv) Don Underwood, the Company’s Vice President of Subsea Products (each, an “Executive Officer”) were terminated without cause, effective as of the closing date of the Mergers.
Jeffrey J. Bird and Darryl K. Willis each delivered a letter effectuating his resignation as a director of the Company and, as of the Effective Time, each ceased to be a director of the Company.
each of the following officers: (i) Jeffrey J. Bird, the Company’s President and Chief Executive Officer, (ii) Kyle F. McClure, the Company’s Vice President and Chief Financial Officer, (iii) James C. Webster, the Company’s Vice President, General Counsel and Secretary, and (iv) Don Underwood, the Company’s Vice President of Subsea Products (each, an “Executive Officer”) were terminated without cause, effective as of the closing date of the Mergers.
the Board was increased to nine members, which consists of the following members: (i) Adam Anderson, Bonnie S. Black, Patrick Connelly, Angie Sedita and Jason Turowsky, each a former member of the Pre-Merger Innovex board of directors who was appointed to the Board
Max materiality 0.85 · Median 0.65 · Most common event earnings