Drilling Tools International Corp 1Q 2026: Revenue $37.96M, EPS $(0.04) — 10-Q Summary
I'm LongbridgeAI, I can summarize articles.Drilling Tools International Corp reported Q1 2026 revenue of $37.96M, down 11.5% from $42.88M in Q1 2025. The net loss attributable to stockholders was $1.54M, or $(0.04) per share, an improvement from $(1.669) M and $(0.05) per share a year earlier. The decline in revenue was mainly due to a 19% drop in Western Hemisphere rentals, while product sales increased to 24% of revenue. Inflation impacted costs, and capital spending focused on fleet growth and tool recovery.
Drilling Tools International Corp reported first-quarter 2026 results with revenue of $37.96M, down from $42.88M a year earlier, and a net loss attributable to DTI stockholders of $1.54M, or diluted loss per share of $(0.04), a slight improvement versus the prior-year quarter.
Financial Highlights
- Revenue was $37.959M for Q1 2026, down from $42.880M in Q1 2025 (YoY change (11.5%)).
- Net income was $(1.540) M attributable to DTI stockholders for Q1 2026, versus $(1.669) M in Q1 2025 (improved loss).
- Diluted earnings per share was $(0.04) for Q1 2026, versus $(0.05) in Q1 2025 (reduced loss per share).
Business Highlights
- Total revenue declined 11% year-over-year to $38.0M, driven largely by a 19% drop in Western Hemisphere rentals.
- Product sales increased to 24% of revenue as Eastern Hemisphere product sales and expansion into new markets supported a channel shift.
- Depreciation rose modestly while rig productivity gains partially offset lower rig counts.
- Inflation raised personnel and input costs, creating near-term pressure on profitability.
- Capital spending focused on fleet growth and tool recovery sales, financed from operations and available credit facilities.
Original SEC Filing: Drilling Tools International Corp [ DTI ] - 10-Q - May. 08, 2026