The stock of Innovex International (NYSE: INVX ) has rallied 31% this year and thus it has vastly outperformed the S&P 500 and the Energy Select Sector SPDR Fund ETF ( XLE ), which have gainedI am a chemical engineer with a MS in Food Technology and Economics, and a MENSA member. I am the author of the book "Investing in Stocks and Bonds: The Early Retirement Project" (2024):I am also the author of the book "Mental Math: How to perform math calculations in your mind".I am also the author of 2 other mathemat ...

Core Insights - Innovex International (NYSE: INVX) has seen its stock price increase by 31% this year, significantly outperforming both the S&P 500 and the Energy Select Sector SPDR Fund ETF (XLE) [1] Company Performance - The stock performance of Innovex International is highlighted as a strong indicator of its market position, with a notable gain compared to broader market indices [1] Market Context - The performance of Innovex International is set against the backdrop of the overall market, where both the S&P 500 and the Energy Select Sector SPDR Fund ETF have also experienced gains, although at a lower rate than Innovex [1]

The share price of Innovex International, Inc. (NYSE:INVX) surged by 3.13% between September 25 and October 2, 2025, putting it among the Energy Stocks that Gained the Most This Week. Here is Why Innovex International (INVX) Gained This Week Established in 2024 following the merger of Dril-Quip and Innovex Downhole Solutions, Innovex International, Inc. (NYSE:INVX) designs and manufactures offshore drilling and production equipment. Innovex International, Inc. (NYSE:INVX) gained this week after the comp ...

Core Insights - Innovex has successfully completed the sale of the Dril-Quip Houston Eldridge Facility for a total sale price of $90 million [1] Company Summary - The sale of the facility marks a significant transaction for Innovex, indicating a strategic move in its operational focus [1]

Company Overview - Innovex International, Inc. is a Houston-based provider of engineered products for the global oil and gas exploration and production industry, with a significant merger with Dril-Quip expected in September 2024 [2] - The company serves over 1,300 customers in more than 70 countries, with 55% of revenue from U.S. and Canada onshore markets and 45% from international/offshore markets [2] - Projected revenue for 2024 is approximately $660 million, derived from products, services, and rentals, with a capital-light business model that maintains high margins and recurring free cash flow [2] Innovation and Growth Strategy - Innovex emphasizes a "No Barriers" culture that fosters customer collaboration, leading to the development of highly engineered consumable products that generate repeat sales [3] - Approximately 48% of revenue is derived from internally developed products, highlighting the company's focus on innovation [3] - The management team, led by CEO Adam Anderson, has achieved a 19% annual revenue growth over seven years through disciplined capital allocation and targeted acquisitions [3] Merger and Market Position - The Dril-Quip merger is expected to enhance Innovex's offshore presence, create cross-selling opportunities, and generate cost synergies, including $95 million from selling Dril-Quip's Eldridge facility [4] - Despite facing near-term challenges such as North American market softness and integration costs, subsea deliveries in the latter half of 2025 are anticipated to support recovery [4] - Innovex's earnings and free cash flow are expected to normalize over time, with potential for P/E multiple expansion from the current ~7x towards peer levels of 10–16x [4] Investment Thesis - The bullish thesis on Innovex highlights its capital-light model, recurring consumables revenue, and international expansion through the Dril-Quip merger, positioning it favorably in the market [5]

(Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended June 30, 2025 OR UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, DC 20549 FORM 10-Q ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from __________________ to __________________ Commission File Number: 001-13439 INNOVEX INTERNATIONAL, INC. (Exact Name of Registrant as Specified in its Charter) Del ...

Exhibit 99.1 Innovex Announces Second Quarter 2025 Results HOUSTON, August 5, 2025 – Innovex International, Inc. (NYSE: INVX) ("Innovex," the "Company" or "we") today announced financial and operating results for the second quarter of 2025. Second Quarter Highlights Adam Anderson, CEO commented, "This quarter demonstrates the strength of our diversified portfolio and industrial platform. Although revenues in the quarter were slightly below our expectations, we are pleased with our profitability and Free Cas ...

☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, DC 20549 FORM 10-Q (Mark One) For the quarterly period ended March 31, 2025 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from __________________ to __________________ Commission File Number: 001-13439 INNOVEX INTERNATIONAL, INC. (Exact Name of Registrant as Specified in its Charter) De ...

PURCHASE AND SALE AGREEMENT Dril-Quip Portfolio THIS AGREEMENT is made as of April 21, 2025 (the "Effective Date") by and between INNOVEX INTERNATIONAL, INC., a Delaware corporation ("Seller") and BIG ACQUISITIONS LLC, an Illinois limited liability company ("Purchaser"). Background A. Seller owns the Property; B. Subject to the terms and conditions hereinafter specified, Purchaser desires to purchase from Seller, and Seller desires to sell to Purchaser, the Property; and C. Subject to the terms and conditio ...

Mergers and Acquisitions - The merger between Innovex Downhole Solutions, Inc. and Dril-Quip, Inc. was completed on September 6, 2024, resulting in Legacy Innovex becoming a wholly owned subsidiary of Dril-Quip, with a conversion ratio of 2.0125 shares of Company Common Stock for each share of Legacy Innovex Common Stock [22]. - Innovex acquired 80% of Downhole Well Solutions, LLC for an aggregate purchase price of $75.1 million in cash and 1,918,558 shares of Company Common Stock on November 29, 2024 [23]. - Innovex maintains a disciplined acquisition strategy, viewing acquisitions as a core competency, as evidenced by the merger with Dril-Quip and the acquisition of DWS [32]. Market Overview - The total addressable market (TAM) for Innovex's products in 2023 was estimated at $4.5 billion, which increased to $8.3 billion in 2024 post-merger, with $3.6 billion in NAM and $4.7 billion in International & Offshore markets [25]. - In 2024, approximately 55% of Innovex's revenue came from the NAM market, while 45% was generated from International and Offshore markets [26]. - Pro forma revenue for Innovex in the NAM market in 2024 was approximately $491 million, implying a market share of 13% [41]. - In the International and Offshore markets, Innovex generated approximately $548 million in revenue in 2024, resulting in a market share of approximately 12% [43]. Revenue Sources - Innovex's revenue sources in 2024 included approximately 80% from product sales, 8% from rental tools, and 12% from services [35]. Research and Development - The company has a strong focus on research and development, with an engineering team dedicated to ongoing product enhancements and new technology development [44]. - As of December 31, 2024, Innovex held approximately 829 U.S. and international patents, covering its inventions related to products and technologies [51]. Customer Base - As of December 31, 2024, the company had 1,376 unique active customers, a decrease from 1,485 in 2023, with the top ten accounts contributing 35% of revenue [58]. - The company’s top customers include major national and international oil companies, indicating a strong market position [58]. Operations and Workforce - The company operates manufacturing facilities in multiple locations, including Texas, Scotland, Singapore, Brazil, Canada, Vietnam, and Saudi Arabia, to support global operations [60]. - The company had a total of 2,683 employees as of December 31, 2024, with a strong focus on employee health, safety, and well-being [67]. - The company is focused on innovation and attracting top talent, promoting a culture that supports employee engagement and development [66]. Regulatory Environment - The company is subject to various environmental regulations, which may increase operational costs and affect financial performance [69]. - The company is committed to maintaining compliance with air emissions regulations and holds all necessary permits for operations [73]. - The company anticipates that regulatory measures related to climate change could impact demand and prices for fossil fuels [76]. - The Infrastructure Investment and Jobs Act and the Inflation Reduction Act (IRA) contain billions in incentives for renewable energy and clean technologies, potentially impacting demand for oil and natural gas [77]. - The IRA imposes a methane emissions charge starting at $900 per ton in 2024, increasing to $1,500 per ton by 2026, which could raise customers' operating costs [77]. - The Bureau of Ocean Energy Management estimates that $6.9 billion in new financial assurance will be required from offshore leaseholders under new regulations [85]. - Regulatory changes may lead to increased costs for customers, potentially reducing their demand for products and services [79]. - Increased regulation on hydraulic fracturing could adversely affect demand for the company's products and services [84]. Financial Risks - The company is substantially dependent on the oil and natural gas industry, with exploration and production activities directly affected by oil and gas price trends [64]. - The company is exposed to commodity price risk due to fluctuations in oil and natural gas prices, impacting drilling and completion activity levels [358]. - As of December 31, 2024, the company had variable rate debt of $11.4 million under the Term Loan and $14.0 million under the Revolver, exposing it to interest rate risk [360]. - Environmental activism and divestment initiatives could limit access to capital for companies engaged in fossil fuel extraction [80]. - The company relies on customer indemnifications and third-party insurance as part of its risk mitigation strategy, which may not always be sufficient [89]. - The company does not engage in material hedging transactions, leaving it exposed to market risks inherent in its operations [91].