Financial Performance - Revenue for Q3 2025 was $240 million, representing a 7% increase quarter over quarter[4] - Net income for the quarter was $39 million, with a net income margin of 16%[4] - Adjusted EBITDA was $44 million, with an adjusted EBITDA margin of 18%[4] - Free cash flow generated during the quarter was $37 million[10] - Net income for the three months ended September 30, 2025, was $39,228,000, compared to $15,345,000 in the previous quarter, reflecting a significant increase of 156.5%[23] - Revenue for the same period reached $240,000,000, a 7.8% increase from $224,234,000 in the previous quarter[30] - Adjusted EBITDA for the three months ended September 30, 2025, was $43,613,000, with an Adjusted EBITDA margin of 18%[30] - Free Cash Flow for the three months ended September 30, 2025, was $36,522,000, compared to $51,913,000 in the previous quarter[36] Cash and Debt Management - Innovex ended the quarter with $163 million in cash and cash equivalents and $26 million in total debt[10] - The company reported cash and cash equivalents of $163,374,000 as of September 30, 2025, significantly up from $68,781,000 in June 2025[21] - Total liabilities decreased to $214,956,000 as of September 30, 2025, down from $231,528,000 in June 2025, a reduction of 7.1%[21] - The company's net cash provided by operating activities was $48,374,000 for the three months ended September 30, 2025, down from $59,210,000 in the previous quarter[36] Capital Expenditures and Assets - Capital expenditures for the three months ended September 30, 2025, were $11,852,000, compared to $7,297,000 in the previous quarter[36] - Total assets increased to $1,253,910,000 as of September 30, 2025, up from $1,227,081,000 in June 2025, representing a growth of 2.1%[21] Operational Efficiency - On-time delivery for the subsea business improved to 76% during the quarter[3] - The company signed an agreement to become the exclusive subsea wellhead provider for OneSubsea, aiming to grow its market position[4] Revenue Breakdown - North America Onshore total revenue reached $131,929,000, up from $119,967,000 in the previous quarter, representing a 15.9% increase[38] - International & Offshore total revenue was $108,071,000, slightly up from $104,267,000 in the previous quarter, marking a 3.5% increase[38] - Total revenue for the company was $240,000,000, compared to $224,234,000 in the previous quarter, reflecting a 7.0% growth[38] - Product revenues in North America Onshore increased to $86,597,000 from $77,368,000, a rise of 11.9%[38] - Rental revenues in North America Onshore grew to $28,114,000, up from $26,698,000, indicating a 5.3% increase[38] - Service revenues in North America Onshore rose to $17,218,000, compared to $15,901,000 in the previous quarter, a growth of 8.3%[38] - International & Offshore product revenues increased to $79,205,000 from $72,081,000, a growth of 9.8%[38] - Rental revenues in International & Offshore decreased to $14,274,000 from $17,305,000, a decline of 17.5%[38] - Service revenues in International & Offshore remained stable at $14,592,000, slightly down from $14,881,000, a decrease of 1.9%[38] Future Outlook - Innovex expects Q4 2025 revenue to be between $235 million and $245 million[12] - The company continues to focus on expanding its product offerings and enhancing service capabilities to drive future growth[38] Return on Capital Employed - Return on Capital Employed (ROCE) for the twelve months ended September 30, 2025, was 13%[11] - Return on Capital Employed (ROCE) for the twelve months ended September 30, 2025, was 13%, an increase from 12% in the previous year[34]
Innovex International, Inc.(INVX) - 2025 Q3 - Quarterly Results