Earnings Releases·Nov 5, 2026, 4:19 PM ET

Drilling Tools International Corporation — 2026 Third Quarter Earnings Summary

Q3 2026 consolidated revenue rose to $40.6 million from $38.8 million in the prior year period; however, net loss widened to $2.6 million ($0.07/share) from $0.9 million ($0.03/share), while Adjusted EBITDA increased 14% sequentially to $9.5 million.
Full-year 2026 revenue guidance remains $155–$170 million and Adjusted EBITDA $35–$45 million, though Adjusted Free Cash Flow outlook was lowered to $13–$22 million (from $17–$22 million) and CapEx raised to $22–$23 million; management expects results to finish toward the lower end of revenue and EBITDA ranges.
The company announced an agreement to acquire Saltire Energy Limited and Foxley Energy Limited, expected to close in Q1 2027 subject to approvals, which will increase Eastern Hemisphere revenue to approximately 40% of pro forma revenue and is anticipated to be accretive to margins and free cash flow.
Sequential performance improved significantly in H2 2026 with revenue up 7% and Adjusted EBITDA up 14% compared to Q2, driven by rising U.S. rig counts, a Canadian rebound, and full-run-rate revenue contributions from new ClearPath contracts in Europe.