Open the filing on EDGARInnovex Announces Fourth-Quarter and Full Year 2025 Results
HOUSTON, February 23, 2026 - Innovex International, Inc. (NYSE: INVX) (“Innovex,” the “Company” or “we”) today announced financial and operating results for the fourth quarter and full year 2025.
Fourth Quarter and Full Year Highlights
Revenue of $274 million for Q4, up 14% quarter over quarter
Net Income of $14 million and Net Income Margin of 5% for Q4
Adjusted EBITDA of $52 million and Adjusted EBITDA Margin of 19% for Q4
Net Cash Provided by Operating Activities of $52 million for Q4
Free Cash Flow of $43 million for Q4 and $156 million for full year 2025
Income from Operations of $133 million for full year 2025
Return on Capital Employed of 10% for full year 2025
$203 million of cash and cash equivalents and no bank debt at year end
Delivered first subsea wellhead products under the global Innovex-OneSubsea alliance
Completed tenth successful XPak installation in Brazil’s pre-salt fields
Made significant progress exiting the legacy Eldridge facility; full completion expected by the end of Q2 2026
(1) Adjusted EBITDA, Adjusted EBITDA Margin, Free Cash Flow and Return on Capital Employed (“ROCE”) are non-GAAP measures. Reconciliations of Adjusted EBITDA to net income, Free Cash Flow to net cash provided by operating activities and ROCE to income from operations, the most directly comparable financial measures presented in accordance with GAAP, are outlined in the reconciliation tables accompanying this release.
Adam Anderson, CEO, commented, “We delivered a strong finish to 2025, with revenues exceeding the high end of our guidance range due to higher-than-expected subsea deliveries, revenue synergies from the DWS and Citadel acquisitions, and new product introductions. Despite a softer macro environment, we continued to grow market share across the U.S. Land, Offshore, and International markets while also generating substantial Free Cash Flow. During the quarter, we successfully deployed our tenth XPak expandable liner hanger in Brazil’s pre-salt fields and are excited by the significant interest we see in this technology in other deepwater basins. We adapted the XPak expandable liner for use onshore and deployed it for a major independent operator in the quarter, enabling our customer to drill some of the Permian’s most technically complex wells. This is but one example of how our innovation flywheel - powered by deep customer relationships and disciplined execution - enables us to organically expand our footprint with differentiated products that solve meaningful customer challenges.”
Kendal Reed, CFO, continued, “Our capital-light business model and disciplined cost control continued to drive strong Free Cash Flow in the fourth quarter and full year 2025. We converted approximately 83% of our Adjusted EBITDA into Free Cash Flow in Q4 and for the year 2025. We ended the year with approximately $203 million of cash and no bank debt, providing significant financial flexibility as we examine a deep pipeline of inorganic investment opportunities that align with our ‘small ticket, big impact’ strategy. All investment opportunities are evaluated against our share repurchase authorization, as we are committed to maximizing financial returns for our stockholders.”
Financial Summary
| Three months ended | Twelve months ended |
|---|
| (in thousands) | December 31, 2025 | September 30, 2025 | December 31, 2024 | December 31, 2025 | December 31, 2024 |
| Revenue | $273,602 | $240,000 | $250,687 | $978,251 | $660,803 |
| Net Income | 13,968 | 39,228 | 31,789 | 83,298 | 140,325 |
| Net Income (Loss) % Revenue | 5% | 16% | 13% | 9% | 21% |
| Adjusted EBITDA | 52,108 | 43,613 | 49,063 | 188,285 | 138,501 |
| Adjusted EBITDA Margin | 19% | 18% | 20% | 19% | 21% |
| Net cash provided by operating activities | 52,238 | 48,374 | 36,345 | 190,912 | 93,439 |
| Free Cash Flow | 43,311 | 36,522 | 28,718 | 155,780 | 79,845 |
| Income from operations | 25,796 | 62,284 | 26,912 | 132,625 | 49,075 |
| Twelve months ended |
|---|
| December 31, 2025 | December 31, 2024 | December 31, 2023 |
|---|
| ROCE | 10% | 12% | 22% |
Adjusted EBITDA, Adjusted EBITDA Margin, Free Cash Flow and Return on Capital Employed (“ROCE”) are non-GAAP financial measures. See definition of these measures and the reconciliation of GAAP to non-GAAP financial measures in the Supplemental Information tables below.
Operational & Financial Results
Kendal Reed, CFO, commented, “In NAM Land, revenues outperformed underlying activity levels primarily due to expanded adoption of our drilling enhancement, well construction, and completion technologies. Cross-selling across the platform also gained traction as customers increasingly deployed multiple Innovex solutions together in the same wellbores. This integrated sales approach supported strong revenue growth, margins, and Free Cash Flow in the fourth quarter. We also delivered a significantly higher volume of subsea products during Q4 than our original expectations. These deliveries drove stronger revenue and cash flows despite weighing on our corporate margins. We expect these low-margin subsea projects to continue to weigh on margins in the first half of 2026. The expected exit of the Eldridge facility in the second quarter is a foundational element of our plan to improve these margins. We expect a reduced manufacturing footprint, improved on-time delivery, and optimized bidding practices to drive improved subsea margins by year-end 2026.”
Adam Anderson, CEO, concluded, “We continue to expand our addressable market by broadening our suite of differentiated products and technologies while simultaneously growing our international and offshore footprint. We are pleased with operational momentum in Saudi Arabia, where we inaugurated our manufacturing facility during the quarter, further strengthening our commitment to and partnership with the Kingdom. In the Far East, we delivered our first subsea wellhead project under the global Innovex-OneSubsea alliance; this partnership has already expanded the addressable market for our subsea product line, enhancing our strong position in the subsea market. In Mexico, we substantially completed deliveries of subsea wellheads and large-diameter tubulars for a major offshore development, reflecting strong project execution and coordination across our global supply chain. I’m excited about the trajectory of our subsea business. We have recently been awarded a number of significant projects in Asia, as well as a smaller award in the Mediterranean. We also recently won a landmark subsea wellhead contract in Brazil working for an IOC we have not worked with in over a decade - another example that our subsea strategy is gaining momentum. We plan to build on this commercial momentum in 2026, while remaining focused on improving margins, enhancing the customer experience, and unlocking long-term value for our stockholders.”
Balance Sheet, Debt, Cash Flow & Other
Net cash provided by operating activities was $52 million for the fourth quarter of 2025, while capital expenditures totaled $9 million (approximately 3% of revenue) for the fourth quarter of 2025.
Innovex generated Free Cash Flow of $43 million during the fourth quarter of 2025 and ended the quarter with approximately $203 million of cash and cash equivalents and no bank debt.
Innovex maintains a strong liquidity position and disciplined balance sheet to preserve flexibility and support high-return capital allocation opportunities. We continue to focus on M&A opportunities with strong quantitative and qualitative characteristics.
Return on Capital Employed (“ROCE”)
Innovex’s efficient capital allocation and capital-light business model enable the Company to generate strong returns on our invested capital. Income from operations for the twelve months ended December 31, 2025 was $133 million. Return on Capital Employed (“ROCE”) for the twelve months ended December 31, 2025 was 10%. We remain focused on capital efficiency, which we believe is a key driver of sustainable value creation for our stockholders.
Q1 2026 Guidance
Looking to the first quarter of 2026, Innovex expects to generate $225 - $235 million in total revenue. Innovex expects to generate Adjusted EBITDA of $38 - $42 million in the first quarter of 2026. The sequential revenue decrease is primarily due to lower subsea deliveries, reflecting normal seasonality as well as the earlier-than-anticipated execution of certain deliveries originally planned for the first quarter.
Conference Call Details
Management will host a conference call and a webcast to discuss the financial results on February 24, 2026, at 9:00 a.m. Eastern Time / 8:00 a.m. Central Time. The presentation is open to all interested parties and may include forward-looking statements. To access the call, please dial in approximately ten minutes before the start of the call.
Date / Time: February 24, 2026 - 8:00 a.m. Central Time
Webcast: https://events.q4inc.com/attendee/679113791
U.S. Toll-Free Dial-In: (800) 715-9871
International Dial-In: +1 (646) 307-1963
Conference ID: 6623648
For those unable to participate in the live call, an audio replay will be available following the call through midnight Tuesday, March 3, 2026. To access the replay, please call (800) 770-2030 or +1 (609) 800-9909 (International) and enter playback ID 6623648 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.
About Innovex International, Inc.
Innovex International, Inc. (NYSE: INVX) is a Houston-based company established in 2024 following the merger of Dril-Quip, Inc. and Innovex Downhole Solutions, Inc.
Innovex’s 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 costs, and reducing the rig site service footprint for the customer.
With 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.
Forward-Looking Statements
Certain statements contained in this press release and oral statements made regarding the matters addressed in this release constitute “forward-looking statements” 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’s control, that could cause actual results to differ materially from the results discussed in the forward-looking statements.
Forward-looking statements notice
Forward-looking statements can be identified by the use of forward-looking terminology including “may,” “believe,” “expect,” “intend,” “anticipate,” “plan,” “should,” “estimate,” “continue,” “potential,” “will,” “hope” or other similar words and include the Company’s expectation of future performance contained herein. These statements discuss future expectations, contain projections of results of operations or of financial condition, or state other “forward-looking” information, including statements regarding the Company’s share repurchase authorization. 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’s merger and acquisition activities, including the ultimate outcome and results of integrating operations, the effects of the Company’s merger and acquisition activities (including the Company’s 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 acquisitions 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’s 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.
(346) 398-0000
Consolidated Statements of Operations and Comprehensive Income
(Unaudited)
| Three months ended | Twelve months ended |
|---|
| (in thousands, except share and per share amounts) | December 31, 2025 | September 30, 2025 | December 31, 2024 | December 31, 2025 | December 31, 2024 |
| Revenues | $273,602 | $240,000 | $250,687 | $978,251 | $660,803 |
| Cost of revenues | 194,488 | 164,057 | 165,817 | 674,971 | 428,172 |
| Selling, general and administrative expenses | 32,035 | 35,574 | 38,278 | 128,793 | 116,181 |
| (Gain) loss on sale of assets | 1,364 | (40,918) | (167) | (39,825) | (654) |
| Depreciation and amortization | 15,461 | 15,362 | 12,039 | 60,742 | 31,207 |
| Impairment of long-lived assets | - | - | - | 3,427 | 3,522 |
| Acquisition and integration costs | 4,458 | 3,641 | 7,808 | 17,518 | 33,300 |
| Income from operations | $25,796 | $62,284 | $26,912 | $132,625 | $49,075 |
| Interest expense | 654 | 677 | 375 | 2,582 | 2,430 |
| Other (income) expense, net | (1,825) | 303 | 700 | (1,828) | 298 |
| Equity method earnings | - | - | (386) | - | (2,616) |
| Bargain purchase loss (gain) | - | 3,342 | 6,847 | 3,342 | (85,812) |
| Gain on consolidation of equity method investment | - | - | (8,037) | - | (8,037) |
| Income before income taxes | $26,967 | $57,962 | $27,413 | $128,529 | $142,812 |
| Income tax expense | 12,999 | 18,734 | (4,376) | 45,231 | 2,487 |
| Net income | $13,968 | $39,228 | $31,789 | $83,298 | $140,325 |
| Foreign currency translation adjustment | 289 | 1,314 | (10,607) | 12,947 | (10,969) |
| Comprehensive income | $14,257 | $40,542 | $21,182 | $96,245 | $129,356 |
| Earnings per common share | | | | | |
| Basic | $0.20 | $0.57 | $0.47 | $1.21 | $2.82 |
| Diluted | $0.20 | $0.57 | $0.47 | $1.20 | $2.77 |
| Weighted average common shares outstanding | | | | | |
| Basic | 68,994,818 | 68,814,125 | 67,889,524 | 69,009,209 | 49,727,093 |
| Diluted | 69,641,691 | 69,265,300 | 68,044,174 | 69,381,412 | 50,627,004 |
Consolidated Balance Sheets
(Unaudited)
| (in thousands, except share and par value amounts) | December 31, 2025 | September 30, 2025 | December 31, 2024 |
| Assets | | | |
| Current assets | | | |
| Cash and cash equivalents | $203,407 | $163,374 | $73,278 |
| Trade receivables, net | 237,774 | 220,408 | 239,506 |
| Inventories, net | 248,433 | 275,197 | 271,173 |
| Other current assets | 38,433 | 51,373 | 57,434 |
| Total current assets | 728,047 | 710,352 | 641,391 |
| Noncurrent assets | | | |
| Property and equipment, net | 158,874 | 158,685 | 190,786 |
| Equity method investment | - | - | - |
| Goodwill and net intangibles | 215,950 | 215,863 | 168,539 |
| Right-of-use leases - operating, net | 52,204 | 54,745 | 54,873 |
| Deferred tax asset, net | 102,375 | 104,132 | 134,540 |
| Other long-term assets | 10,857 | 10,133 | 7,354 |
| Total noncurrent assets | 540,260 | 543,558 | 556,092 |
| Total assets | $1,268,307 | $1,253,910 | $1,197,483 |
| Liabilities and stockholders’ equity | | | |
| Current liabilities | | | |
| Accounts payable | $60,711 | $66,633 | $65,201 |
| Accrued expenses | 49,148 | 45,680 | 60,593 |
| Operating lease liabilities | 12,670 | 12,785 | 10,547 |
| Contract liabilities | 11,986 | 10,286 | 13,463 |
| Other current liabilities | 6,940 | 7,010 | 2,387 |
| Current portion of long-term debt and finance lease obligations | 6,709 | 6,316 | 10,467 |
| Total current liabilities | 148,164 | 148,710 | 162,658 |
| Noncurrent liabilities | | | |
| Long-term debt and finance lease obligations | 18,922 | 20,090 | 24,901 |
| Operating lease liabilities | 40,986 | 43,287 | 45,153 |
| Other long-term liabilities | 2,536 | 2,869 | 6,615 |
| Total noncurrent liabilities | 62,444 | 66,246 | 76,669 |
| Total Liabilities | $210,608 | $214,956 | $239,327 |
| Total stockholders’ equity | $1,057,699 | $1,038,954 | $958,156 |
| Total liabilities and stockholders’ equity | $1,268,307 | $1,253,910 | $1,197,483 |
Consolidated Statements of Cash Flows
(Unaudited)
| Three months ended | Twelve months ended |
|---|
| (in thousands) | December 31, 2025 | September 30, 2025 | December 31, 2024 | December 31, 2025 | December 31, 2024 |
| Cash flows from operating activities | | | | | |
| Net Income | $13,968 | $39,228 | $31,789 | $83,298 | $140,325 |
| Adjustments to reconcile net income to net cash provided by operating activities | 28,065 | 1,848 | 9,782 | 88,333 | (42,185) |
| Changes in operating assets and liabilities, net of amounts related to acquisitions | 10,205 | 7,298 | (5,226) | 19,281 | (4,701) |
| Net cash provided by operating activities | $52,238 | $48,374 | $36,345 | $190,912 | $93,439 |
| Cash flows from investing activities | | | | | |
| Payments on acquisitions, net of cash acquired | (2,499) | (500) | (65,521) | (83,668) | (65,521) |
| Capital expenditures | (8,927) | (11,852) | (7,627) | (35,132) | (13,594) |
| Proceeds from sale of property and equipment | 1,468 | 89,907 | 1,194 | 100,059 | 3,247 |
| Cash acquired in stock based business combination | - | - | - | - | 154,312 |
| Net cash (used in) provided by investing activities | $(9,958) | $77,555 | $(71,954) | $(18,741) | $78,444 |
| Cash flows from financing activities | | | | | |
| Net borrowings (repayments) on line of credit | - | (29,000) | 14,000 | (14,000) | (9,200) |
| Net repayments on term loan | - | - | (1,249) | (11,429) | (6,282) |
| Payments on finance leases | (2,243) | (1,793) | (1,561) | (7,535) | (5,698) |
| Dividend payment | - | - | - | - | (74,983) |
| Other financing | (542) | (384) | (50) | (11,955) | (6,909) |
| Net cash (used in) provided by financing activities | $(2,785) | $(31,177) | $11,140 | $(44,919) | $(103,072) |
| Effect of exchange rate changes on cash and cash equivalents | 538 | (159) | (2,148) | 2,877 | (2,939) |
| Net change in cash and cash equivalents | $40,033 | $94,593 | $(26,617) | $130,129 | $65,872 |
Non-GAAP Measures
Adjusted EBITDA and Adjusted EBITDA Margin
We define Adjusted EBITDA (a non-GAAP measure) as net income before interest expense, income tax expense, depreciation and amortization, (gain)/loss on sale of assets and other expense, net, further adjusted to exclude certain items which we believe are not reflective of our ongoing performance or which are non-cash in nature. Management uses Adjusted EBITDA to assess the profitability of our business operations and to compare our operating performance to our competitors without regard to the impact of financing methods and capital structure and excluding costs that management believes do not reflect our ongoing operating performance. We track Adjusted EBITDA on an absolute dollar basis and as a percentage of revenue, which we refer to as Adjusted EBITDA Margin.
Free Cash Flow
We also utilize Free Cash Flow (a non-GAAP measure) to evaluate the cash generated by our operations and results of operations. We define Free Cash Flow as net cash provided by operating activities less capital expenditures, as presented in our Consolidated Statements of Cash Flows. Management believes Free Cash Flow is useful because it demonstrates the cash that was available in the period that was in excess of our needs to fund our capital expenditures. We track Free Cash Flow both on an absolute dollar basis and as a percentage of revenue. Free Cash Flow does not represent our residual cash flow available for discretionary expenditures, as we have non-discretionary expenditures, including, but not limited to, any principal payments required under the terms of our credit facility, which are not deducted in calculating Free Cash Flow.
Return on Capital Employed (ROCE)
We utilize Return on Capital Employed ("ROCE") (a non-GAAP measure) to assess the effectiveness of our capital allocation over time and to compare our capital efficiency to our competitors. We define ROCE as Income from Operations, before acquisition and integration costs and after tax (resulting in Adjusted Income from Operations, after tax) divided by average capital employed. Capital employed is defined as the combined values of debt and stockholders’ equity.
Adjusted EBITDA, Adjusted EBITDA Margin, Free Cash Flow and ROCE do not represent and should not be considered alternatives to, or more meaningful than, net income and net cash provided by operating activities, or any other measure of financial performance presented in accordance with GAAP as measures of our financial performance. Our computation of Adjusted EBITDA, Free Cash Flow and ROCE may differ from computations of similarly titled measures of other companies. For a reconciliation of these non-GAAP measures to the most directly comparable GAAP measure, see tables below.
Management has provided outlook regarding Adjusted EBITDA, which is a non-GAAP financial measure and excludes certain charges. A reconciliation of this non-GAAP financial measure to the corresponding GAAP financial measure has not been provided because guidance for the various reconciling items is not provided. The Company is unable to provide guidance for these reconciling items because they cannot determine their probable significance, as certain items are outside of the Company's control and cannot be reasonably predicted since these items could vary significantly from period to period. Accordingly, reconciliations to the corresponding GAAP financial measures are not available without unreasonable effort.
Reconciliation of Net Income to Adjusted EBITDA
(Unaudited)
| Three months ended | Twelve months ended |
|---|
| (in thousands) | December 31, 2025 | September 30, 2025 | December 31, 2024 | December 31, 2025 | December 31, 2024 |
| Revenue | $273,602 | $240,000 | $250,687 | $978,251 | $660,803 |
| Net income | 13,968 | 39,228 | 31,789 | 83,298 | 140,325 |
| Interest expense | 654 | 677 | 375 | 2,582 | 2,430 |
| Income tax expense | 12,999 | 18,734 | (4,376) | 45,231 | 2,487 |
| Depreciation and amortization | 15,461 | 15,362 | 12,039 | 60,742 | 31,207 |
| EBITDA | $43,082 | $74,001 | $39,827 | $191,853 | $176,449 |
| Other non-operating (income) expense, net | (1,825) | 303 | 700 | (1,828) | 298 |
| Loss (gain) on sale of assets | 1,364 | (40,918) | (167) | (39,825) | (654) |
| Impairment of long-lived assets | - | - | - | 3,427 | 3,522 |
| Acquisition and integration costs | 4,458 | 3,641 | 7,808 | 17,518 | 33,300 |
| Equity method investment adjustment | - | - | 661 | - | 3,202 |
| Bargain purchase loss (gain) | - | 3,342 | 6,847 | 3,342 | (85,812) |
| Gain on consolidation of equity method investment | - | - | (8,037) | - | (8,037) |
| Stock based compensation | 5,029 | 3,244 | 1,424 | 13,798 | 13,248 |
| IPO preparation expenses | - | - | - | - | 2,985 |
| Adjusted EBITDA | $52,108 | $43,613 | $49,063 | $188,285 | $138,501 |
| Net income (loss) % revenue | 5% | 16% | 13% | 9% | 21% |
| Adjusted EBITDA margin | 19% | 18% | 20% | 19% | 21% |
Primarily represents foreign currency exchange (gain) loss, (gain) loss on lease terminations, and other non-operating items.
Consists of legal, accounting, advisory fees, move, severance and other integration costs associated with acquisitions, primarily related to Dril-Quip, DWS, SCF and Citadel. These costs are one-time in nature and represent expenses that we do not view as normal operating expenses necessary to operate our business.
Reflects the elimination of our percentage of interest expense, depreciation, amortization and other non-recurring expenses included within equity method earnings pertaining to our unconsolidated investment in DWS.
Reflects legal, consulting and accounting fees and expenses related to IPO preparation.
Reconciliation of Income from Operations to ROCE
(Unaudited)
| Twelve months ended |
|---|
| (in thousands) | December 31, 2025 | September 30, 2025 | December 31, 2024 |
| Income from operations | $132,625 | $133,741 | $49,075 |
| Plus: Acquisition and integration costs | 17,518 | 20,868 | 33,300 |
| Less: Income tax expense | (45,231) | (27,857) | (2,487) |
| Adjusted income from operations, after tax | $104,912 | $126,752 | $79,888 |
| Beginning debt | 35,368 | 23,046 | 50,390 |
| Beginning equity | 958,156 | 904,351 | 328,921 |
| Ending debt | 25,631 | 26,406 | 35,368 |
| Ending equity | 1,057,699 | 1,038,954 | 958,156 |
| Average capital employed | $1,038,427 | $996,379 | $686,418 |
| ROCE | 10% | 13% | 12% |
Reconciliation of Net Cash from Operations to Free Cash Flow
(Unaudited)
| Three months ended | Twelve months ended |
|---|
| (in thousands) | December 31, 2025 | September 30, 2025 | December 31, 2024 | December 31, 2025 | December 31, 2024 |
| Net cash provided by operating activities | $52,238 | $48,374 | $36,345 | $190,912 | $93,439 |
| Capital expenditures | (8,927) | (11,852) | (7,627) | (35,132) | (13,594) |
| Free Cash Flow | $43,311 | $36,522 | $28,718 | $155,780 | $79,845 |
Geographic Revenue Details
(Unaudited)
| Three months ended | Twelve months ended |
|---|
| (in thousands) | December 31, 2025 | September 30, 2025 | December 31, 2024 | December 31, 2025 | December 31, 2024 |
| North America Onshore ("NAM") | | | | | |
| Product revenues | $93,767 | $86,597 | $75,397 | $332,986 | $286,802 |
| Rental revenues | 28,995 | 28,114 | 10,123 | 112,321 | 19,305 |
| Service revenues | 15,981 | 17,218 | 17,254 | 65,849 | 54,952 |
| Revenue - North America Onshore | 138,743 | 131,929 | 102,774 | 511,156 | 361,059 |
| International & Offshore | | | | | |
| Product revenues | 108,926 | 79,205 | 108,675 | 352,307 | 240,592 |
| Rental revenues | 13,304 | 14,274 | 17,039 | 54,374 | 30,977 |
| Service revenues | 12,629 | 14,592 | 22,199 | 60,414 | 28,175 |
| Revenue - International & Offshore | 134,859 | 108,071 | 147,913 | 467,095 | 299,744 |
| Total Revenue | $273,602 | $240,000 | $250,687 | $978,251 | $660,803 |
Contacts
Eric Wells
Chief of Staff investors@innovex-inc.com