Financial Performance - Revenue for Q4 2025 was $274 million, representing a 14% increase quarter over quarter[4] - Net Income for Q4 2025 was $14 million, with a Net Income Margin of 5%[4] - Adjusted EBITDA for Q4 2025 was $52 million, yielding an Adjusted EBITDA Margin of 19%[4] - Free Cash Flow for Q4 2025 was $43 million, and $156 million for the full year 2025[4] - Revenues for the three months ended December 31, 2025, were $273,602 thousand, an increase from $240,000 thousand in the previous quarter, representing a growth of 14%[19] - Net income for the twelve months ended December 31, 2025, was $83,298 thousand, compared to $140,325 thousand in the previous year, reflecting a decrease of 40.6%[19] - Adjusted EBITDA for the twelve months ended December 31, 2025, was $188,285,000, up from $138,501,000 in the previous year, representing a 36% increase[41] - Free Cash Flow for the twelve months ended December 31, 2025, was $155,780,000, compared to $79,845,000 in the previous year, indicating a growth of 95%[40] Cash and Assets - The company ended 2025 with approximately $203 million in cash and no bank debt, providing significant financial flexibility[4] - Cash and cash equivalents increased to $203,407 thousand as of December 31, 2025, from $163,374 thousand at the end of the previous quarter, a rise of 24.5%[21] - Total assets as of December 31, 2025, amounted to $1,268,307 thousand, up from $1,253,910 thousand as of September 30, 2025, indicating a growth of 1.3%[21] Liabilities and Equity - Total liabilities decreased to $210,608 thousand as of December 31, 2025, from $214,956 thousand as of September 30, 2025, a reduction of 2.0%[21] - The company's ending equity as of December 31, 2025, was $1,057,699,000, an increase from $958,156,000 in the previous year[38] Operational Highlights - The company successfully completed its tenth XPak installation in Brazil's pre-salt fields, indicating strong operational momentum[4] - North America Onshore revenue for the three months ended December 31, 2025, was $138,743,000, a 5.7% increase from $131,929,000 in the previous quarter[41] - International & Offshore revenue for the three months ended December 31, 2025, was $134,859,000, a 24.9% increase from $108,071,000 in the previous quarter[41] Future Outlook - Innovex expects Q1 2026 revenue to be between $225 million and $235 million, with Adjusted EBITDA projected at $38 million to $42 million[10] - The company is focused on expanding its addressable market through new product introductions and international growth[6] - Innovex is actively pursuing M&A opportunities to enhance its capital allocation strategy[8] Profitability Metrics - Innovex's Return on Capital Employed (ROCE) for the full year 2025 was 10%[9] - The net income as a percentage of revenue for the three months ended December 31, 2025, was 5%, down from 16% in the previous quarter[41] - The adjusted EBITDA margin for the twelve months ended December 31, 2025, was 19%, compared to 21% in the previous year[41] Costs and Expenses - The company incurred acquisition and integration costs of $17,518 thousand for the twelve months ended December 31, 2025, down from $33,300 thousand in the previous year, indicating a decrease of 47.4%[19]
Innovex International, Inc.(INVX) - 2025 Q4 - Annual Results