Drilling Tools

Q2 FY2026 EarningsQ2 FY26 results were slightly below consensus on the top line but showed better-than-expected resilience in margins. Revenue of $38.07M missed the $38.16M estimate by 0.23%, primarily due to a 12% YoY decline in the Western Hemisphere offset by 20% growth in the Eastern Hemisphere. Despite the revenue miss, GAAP EPS of -$0.05 beat the -$0.08 consensus by $0.03, driven by effective cost management and reduced interest expenses. Operating cash flow was significantly weaker than expected, reporting a $5.47M outflow for the first half of FY26 compared to the $8.35M quarterly mean expectation.