https:\/\/events.q4inc.com\/attendee\/784692250<\/a><\/p>\n\nU.S. Toll-Free Dial-In: (800) 715-9871<\/p>\n
\nInternational Dial-In: +1 (646) 307-1963<\/p>\n
\nConference ID: 1774704<\/p>\n
\nFor those unable to participate in the live call, an audio replay will be available following the call through midnight Wednesday, August 13, 2025. To access the replay, please call (800) 770-2030 or +1 (609) 800-9909 (International) and enter playback ID 1774704 followed by the # key. A replay of the webcast will also be archived shortly after the call and can be accessed on the Company’s website.<\/p>\n
About Innovex International, Inc.<\/span><\/b><\/p>\n\nInnovex International, Inc (NYSE: INVX) is a Houston-based company established in 2024 following the merger of Dril-Quip, Inc and Innovex Downhole Solutions, Inc.<\/p>\n
\nOur comprehensive portfolio extends throughout the lifecycle of the well, and innovative product integration ensures seamless transitions from one well phase to the next, driving efficiency, lowering cost, and reducing the rig site service footprint for the customer.<\/p>\n
\nWith locations throughout North America, Latin America, Europe, the Middle East and Asia, no matter where you need us, our team is readily available with technical expertise, conventional and innovative technologies, and ever-present customer service.<\/p>\n
Forward-Looking Statements<\/span><\/b><\/p>\nCertain statements contained in this press release and oral statements made regarding the matters addressed in this release constitute \u201cforward-looking statements\u201d within the meaning of the Private Securities Litigation Reform Act of 1995. These forward-looking statements are subject to risks, uncertainties and other factors, many of which are outside of Innovex\u2019s control, that could cause actual results to differ materially from the results discussed in the forward-looking statements.<\/i><\/p>\n
Forward-looking statements can be identified by the use of forward-looking terminology including \u201cmay,\u201d \u201cbelieve,\u201d \u201cexpect,\u201d \u201cintend,\u201d \u201canticipate,\u201d \u201cplan,\u201d \u201cshould,\u201d \u201cestimate,\u201d \u201ccontinue,\u201d \u201cpotential,\u201d \u201cwill,\u201d \u201chope\u201d or other similar words and include the Company\u2019s expectation of future performance contained herein. These statements discuss future expectations, contain projections of results of operations or of financial condition, or state other \u201cforward-looking\u201d information, including without limitation statements regarding timing and ability to complete the sale of the Eldridge facility and the expected benefits of such sale and of the Citadel acquisition. You are cautioned not to place undue reliance on any forward-looking statements, which can be affected by assumptions used or by risks or uncertainties. Consequently, no forward-looking statements can be guaranteed. When considering these forward-looking statements, you should keep in mind the risks related to the Company\u2019s merger and acquisition activities, including the ultimate outcome and results of integrating operations, the effects of the Company\u2019s merger and acquisition activities (including the Company\u2019s future financial condition, results of operations, strategy and plans), potential adverse reactions or changes to business relationships resulting from the completion of mergers and acquisitions, expected benefits from mergers and acquisition and the ability of the Company to realize those benefits, the significant costs required to integrate operations, whether merger or acquisition-related litigation will occur and, if so, the results of any litigation, settlements and investigations, operating hazards, natural disasters, weather-related delays, casualty losses and other matters beyond our control; acts of terrorism, war or political or civil unrest in the United States or elsewhere; loss or corruption of our information or a cyberattack on our computer systems; the risks related to economic conditions and other factors noted in the Company\u2019s Annual Report on Form 10-K, any Quarterly Reports on Form 10-Q and the other documents that the Company files with the Securities and Exchange Commission. The risk factors and other factors noted therein could cause actual results to differ materially from those contained in any forward-looking statement. Innovex disclaims any duty to update and does not intend to update any forward-looking statements, all of which are expressly qualified by the statements in this section, to reflect events or circumstances after the date of this press release, except as may be required by law.<\/i><\/p>\n\n\n| \n \n\u00a0<\/p>\n Innovex International, Inc.<\/b><\/p>\n Condensed Consolidated Statements of Operations and Comprehensive Income<\/b><\/p>\n (in thousands, except share and per share amounts)<\/b><\/p>\n (unaudited)<\/b><\/p>\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n |
\n | \n | \nThree months ended<\/b><\/td>\n<\/tr>\n\n | \n | \nJune 30,
2025<\/b><\/td>\n | | \nMarch 31,
2025<\/b><\/td>\n | | \nJune 30,
2024<\/b><\/td>\n<\/tr>\n\n| Revenues<\/td>\n | | \n\n \n$<\/p>\n<\/td>\n | \n \n224,234<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | | \n\n \n$<\/p>\n<\/td>\n | \n \n240,415<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | | \n\n \n$<\/p>\n<\/td>\n | \n \n130,302<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n | \n| Cost of revenues<\/td>\n | | \n\n \n\u00a0<\/p>\n<\/td>\n | \n \n152,515<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | | \n\n \n\u00a0<\/p>\n<\/td>\n | \n \n163,911<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | | \n\n \n\u00a0<\/p>\n<\/td>\n | \n \n84,310<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n | \n| Selling, general and administrative expenses<\/td>\n | | \n\n \n\u00a0<\/p>\n<\/td>\n | \n \n28,835<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | | \n\n \n\u00a0<\/p>\n<\/td>\n | \n \n32,349<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | | \n\n \n\u00a0<\/p>\n<\/td>\n | \n \n18,582<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n | \n| (Gain) loss on sale of assets<\/td>\n | | \n\n \n\u00a0<\/p>\n<\/td>\n | \n \n(419<\/p>\n<\/td>\n | \n \n)<\/p>\n<\/td>\n | | \n\n \n\u00a0<\/p>\n<\/td>\n | \n \n148<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | | \n\n \n\u00a0<\/p>\n<\/td>\n | \n \n(194<\/p>\n<\/td>\n | \n \n)<\/p>\n<\/td>\n<\/tr>\n | \n| Depreciation and amortization<\/td>\n | | \n\n \n\u00a0<\/p>\n<\/td>\n | \n \n14,974<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | | \n\n \n\u00a0<\/p>\n<\/td>\n | \n \n14,945<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | | \n\n \n\u00a0<\/p>\n<\/td>\n | \n \n6,589<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n | \n| Impairment of long-lived assets<\/td>\n | | \n\n \n\u00a0<\/p>\n<\/td>\n | \n \n503<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | | \n\n \n\u00a0<\/p>\n<\/td>\n | \n \n2,924<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | | \n\n \n\u00a0<\/p>\n<\/td>\n | \n \n3,522<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n | \n| Acquisition and integration costs<\/td>\n | | \n\n \n\u00a0<\/p>\n<\/td>\n | \n \n5,131<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | | \n\n \n\u00a0<\/p>\n<\/td>\n | \n \n4,288<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | | \n\n \n\u00a0<\/p>\n<\/td>\n | \n \n4,423<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n | \n| Income from operations<\/td>\n | | \n\n \n$<\/p>\n<\/td>\n | \n \n22,695<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | | \n\n \n$<\/p>\n<\/td>\n | \n \n21,850<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | | \n\n \n$<\/p>\n<\/td>\n | \n \n13,070<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n | \n| Interest expense<\/td>\n | | \n\n \n\u00a0<\/p>\n<\/td>\n | \n \n551<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | | \n\n \n\u00a0<\/p>\n<\/td>\n | \n \n700<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | | \n\n \n\u00a0<\/p>\n<\/td>\n | \n \n607<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n | \n| Other income, net<\/td>\n | | \n\n \n\u00a0<\/p>\n<\/td>\n | \n \n(92<\/p>\n<\/td>\n | \n \n)<\/p>\n<\/td>\n | | \n\n \n\u00a0<\/p>\n<\/td>\n | \n \n(214<\/p>\n<\/td>\n | \n \n)<\/p>\n<\/td>\n | | \n\n \n\u00a0<\/p>\n<\/td>\n | \n \n(653<\/p>\n<\/td>\n | \n \n)<\/p>\n<\/td>\n<\/tr>\n | \n| Equity method earnings<\/td>\n | | \n\n \n\u00a0<\/p>\n<\/td>\n | \n \n\u2014<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | | \n\n \n\u00a0<\/p>\n<\/td>\n | \n \n\u2014<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | | \n\n \n\u00a0<\/p>\n<\/td>\n | \n \n(744<\/p>\n<\/td>\n | \n \n)<\/p>\n<\/td>\n<\/tr>\n | \n| Income before income taxes<\/td>\n | | \n\n \n$<\/p>\n<\/td>\n | \n \n22,236<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | | \n\n \n$<\/p>\n<\/td>\n | \n \n21,364<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | | \n\n \n$<\/p>\n<\/td>\n | \n \n13,860<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n | \n| Income tax expense, net<\/td>\n | | \n\n \n\u00a0<\/p>\n<\/td>\n | \n \n6,891<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | | \n\n \n\u00a0<\/p>\n<\/td>\n | \n \n6,607<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | | \n\n \n\u00a0<\/p>\n<\/td>\n | \n \n4,326<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n | \n| Net income<\/b><\/td>\n | | \n\n $<\/b><\/p>\n<\/td>\n | \n 15,345<\/b><\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | | \n\n $<\/b><\/p>\n<\/td>\n | \n 14,757<\/b><\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | | \n\n $<\/b><\/p>\n<\/td>\n | \n 9,534<\/b><\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n | \n| Foreign currency translation adjustment<\/td>\n | | \n\n \n\u00a0<\/p>\n<\/td>\n | \n \n6,728<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | | \n\n \n\u00a0<\/p>\n<\/td>\n | \n \n4,616<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | | \n\n \n\u00a0<\/p>\n<\/td>\n | \n \n(1,789<\/p>\n<\/td>\n | \n \n)<\/p>\n<\/td>\n<\/tr>\n | \n| Comprehensive income<\/b><\/td>\n | | \n\n $<\/b><\/p>\n<\/td>\n | \n 22,073<\/b><\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | | \n\n $<\/b><\/p>\n<\/td>\n | \n 19,373<\/b><\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | | \n\n $<\/b><\/p>\n<\/td>\n | \n 7,745<\/b><\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n | \n| Earnings per common share<\/b><\/td>\n | | \n | \n | \n | \n | \n | <\/tr>\n \n| Basic<\/td>\n | | \n\n \n$<\/p>\n<\/td>\n | \n \n0.22<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | | \n\n \n$<\/p>\n<\/td>\n | \n \n0.21<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | | \n\n \n$<\/p>\n<\/td>\n | \n \n0.31<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n | \n| Diluted<\/td>\n | | \n\n \n$<\/p>\n<\/td>\n | \n \n0.22<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | | \n\n \n$<\/p>\n<\/td>\n | \n \n0.21<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | | \n\n \n$<\/p>\n<\/td>\n | \n \n0.30<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n | \n| Weighted average common shares outstanding<\/b><\/td>\n | | \n | \n | \n | \n | \n | <\/tr>\n \n| Basic<\/td>\n | | \n\n \n\u00a0<\/p>\n<\/td>\n | \n \n68,943,387<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | | \n\n \n\u00a0<\/p>\n<\/td>\n | \n \n69,290,100<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | | \n\n \n\u00a0<\/p>\n<\/td>\n | \n \n30,978,880<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n | \n| Diluted<\/td>\n | | \n\n \n\u00a0<\/p>\n<\/td>\n | \n \n69,147,457<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | | \n\n \n\u00a0<\/p>\n<\/td>\n | \n \n69,477,519<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | | \n\n \n\u00a0<\/p>\n<\/td>\n | \n \n32,316,502<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n<\/table>\n | | |
![\"Logo\"](\"https:\/\/mms.businesswire.com\/media\/20250805017671\/en\/2544028\/3\/Innovex_Transparent_Background.jpg\")
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