Quarterly ResultMay 7, 2026, 04:36 PM
DTI Q1 Revenue $38.0M; Net Loss $1.5M; Reaffirms 2026 Outlook
AI Summary
Drilling Tools International Corp. reported Q1 2026 financial results, with total consolidated revenue of $38.0 million and a net loss of $1.5 million. Despite a complicated market and softness in Canada, the company reaffirmed its full-year 2026 guidance, expecting growth compared to 2025 results. DTI also announced the completion of its primary private equity sponsor's share distribution, transitioning to a fully independent public company with broader ownership.
Key Highlights
- Q1 2026 total revenue was $38.0 million, down from $42.88 million in Q1 2025.
- Q1 2026 net loss was $1.5 million, or $0.04 per share.
- Q1 2026 Adjusted EBITDA was $7.5 million, down from $10.75 million in Q1 2025.
- Q1 2026 Adjusted Free Cash Flow was a loss of $160,000.
- Cash and cash equivalents stood at $2.8 million, with net debt of $48.9 million as of March 31, 2026.
- Reaffirmed 2026 full-year revenue guidance of $155M-$170M and Adjusted EBITDA of $35M-$45M.
- Private equity sponsor HHEP completed distribution of remaining DTI shares, increasing public float.