Drilling Tools International Corporation (DTI) Financial Statements (2025 and earlier)

Company Profile

Business Address 3701 BRIARPARK DRIVE
HOUSTON, TX 77042
State of Incorp. DE
Fiscal Year End December 31
Industry (SIC) 3533 - Oil and Gas Field Machinery and Equipment (benchmarking)
More info Complete Financial Analysis Financial Benchmarking

Balance Sheet (Statement of Financial Position) ($ in thousands)

9/30/2024
Q3
6/30/2024
Q2
3/31/2024
Q1
12/31/2023
Q4
9/30/2023
Q3
6/30/2023
Q2
3/31/2023
Q1
ASSETS
Current Assets
Cash, cash equivalents, and short-term investments10,01815,1876,8914,9848,6867
Cash and cash equivalents6,78414,0506,0033,9897,1567
Short-term investments 3,2341,1378889951,530 
Receivables35,12235,73029,92929,07330,357 
Inventory, net of allowances, customer advances and progress billings14,60911,4415,0346,5865,929 
Inventory14,60911,4415,0346,5865,929 
Prepaid expense1,4951,4632,0582,7443,356127
Contract with customer, asset, after allowance for credit loss3,800     
Other current assets   1814  
Other undisclosed current assets(4,210)1,7682,4782,2183,448 
Total current assets:60,83465,58946,40845,61951,776135
Noncurrent Assets
Operating lease, right-of-use asset21,82718,29618,78619,62120,397 
Property, plant and equipment71,22370,59665,80064,56964,450 
Intangible assets, net (including goodwill)11,03810,614216228239 
Goodwill3,0762,556    
Intangible assets, net (excluding goodwill)7,9628,058216228239 
Asset, held-in-trust      217,776
Other undisclosed noncurrent assets1,9521,8561,2881,3991,435 
Total noncurrent assets:106,040101,36286,09085,81786,521217,776
TOTAL ASSETS:166,874166,951132,498131,436138,297217,911
LIABILITIES AND EQUITY
Liabilities
Current Liabilities
Accounts payable and accrued liabilities21,73325,17818,33019,95332,159 
Accounts payable14,01416,7367,7518,08919,530 
Accrued liabilities7,7198,44210,57911,86412,629 
Deferred revenue 441,042   
Debt5,0005,000    
Other undisclosed current liabilities4,1333,9212,9163,9403,836 
Total current liabilities:30,86634,14322,28823,89335,995 
Noncurrent Liabilities
Long-term debt and lease obligation19,16720,000    
Long-term debt, excluding current maturities19,16720,000    
Liabilities, other than long-term debt24,04121,29521,52022,67921,815 
Deferred income tax liabilities6,2276,8936,6276,9265,193 
Operating lease, liability17,81414,40214,89315,75316,622 
Total noncurrent liabilities:43,20841,29521,52022,67921,815 
Other undisclosed liabilities      6,884
Total liabilities:74,07475,43843,80846,57257,8106,884
Equity
Equity, attributable to parent, including:92,80091,51388,69084,86480,487(5,950)
Common stock33333 
Additional paid in capital96,53695,42695,21895,21895,218 
Accumulated other comprehensive income (loss)(634)(736)(225)(228)(318) 
Accumulated deficit(3,105)(3,180)(6,306)(10,129)(14,416)(5,950)
Other undisclosed equity, attributable to parent      1
Other undisclosed equity      216,977
Total equity:92,80091,51388,69084,86480,487211,027
TOTAL LIABILITIES AND EQUITY:166,874166,951132,498131,436138,297217,911

Income Statement (P&L) ($ in thousands)

9/30/2024
Q3
6/30/2024
Q2
3/31/2024
Q1
12/31/2023
Q4
9/30/2023
Q3
6/30/2023
Q2
3/31/2023
Q1
Revenues37,53336,97435,18938,13837,908 
Cost of revenue(10,049)(8,537)(8,079)(9,151)(8,849) 
Gross profit:27,48428,43727,11028,98729,059 
Operating expenses(25,249)(23,307)(22,582)(21,855)(22,435)(1,960)
Other operating income (expense), net323     
Other undisclosed operating income (loss)(323)     
Operating income (loss):2,2355,1304,5287,1326,624(1,960)
Nonoperating income26,32428,96127,74028,65724,6892,231
Investment income, nonoperating28,30030,00028,60029,40029,000 
Other nonoperating income (expense)(1,952)(1,067)(860)(743)(4,311)2,231
Income from continuing operations before equity method investments, income taxes:28,55934,09132,26835,78931,313271
Other undisclosed loss from continuing operations before income taxes(28,276)(30,028)(28,600)(29,400)(29,000) 
Income from continuing operations before income taxes:2834,0633,6686,3892,313271
Income tax expense (benefit)82(937)155(2,102)(1,376)(458)
Net income (loss) available to common stockholders, diluted:3653,1263,8234,287937(187)

Comprehensive Income ($ in thousands)

9/30/2024
Q3
6/30/2024
Q2
3/31/2024
Q1
12/31/2023
Q4
9/30/2023
Q3
6/30/2023
Q2
3/31/2023
Q1
Net income (loss):3653,1263,8234,287937(187)
Comprehensive income (loss):3653,1263,8234,287937(187)
Other undisclosed comprehensive income (loss), net of tax, attributable to parent102(511)390(207) 
Comprehensive income (loss), net of tax, attributable to parent:4672,6153,8264,377730(187)

Statements Sources

The financial statements are based on the Company's filings with the U.S. Securities and Exchange Commission (SEC) through the Electronic Data Gathering, Analysis, and Retrieval system (EDGAR). The information is derived from the 10-K and 10-Q reports submitted to the SEC in XBRL (eXtensible Business Reporting Language) format and presented according to the US GAAP Taxonomy. Please review the original filings for a more detailed information.

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