Drilling Tools International (US:DTI) Prnewswireยท2025-03-13 20:15Core Insights - Drilling Tools International Corp. (DTI) anticipates continued growth in consolidated revenue, adjusted EBITDA, and adjusted free cash flow for 2025, with significant international revenue growth projected [1][4][31]. Financial Performance - For the year 2024, DTI reported total consolidated revenue of $154.4 million, with tool rental revenue at approximately $117.9 million and product sales revenue totaling $36.5 million [2][11]. - Total operating expenses for 2024 were $141.0 million, resulting in an income from operations of $13.4 million. The net income for the year was $3.0 million, with an adjusted net income of $10.1 million [2][12]. - The diluted earnings per share (EPS) for 2024 were $0.09, while the adjusted diluted EPS was $0.31 [2][12]. Quarterly Performance - In the fourth quarter of 2024, DTI generated total consolidated revenue of $39.8 million, with tool rental revenue of approximately $31.5 million and product sales revenue of $8.3 million [3][13]. - The total operating expenses for the fourth quarter were $38.0 million, leading to an income from operations of $1.8 million. The net loss for the quarter was ($1.3) million, with an adjusted net income of $0.6 million [3][13]. Future Outlook - DTI's CEO expressed confidence in the company's acquisition growth strategy and its ability to navigate a challenging demand environment, expecting to build upon 2024 results and significantly grow international revenue in 2025 [4][31]. - The company projects full-year 2025 revenue between $163 million and $183 million, with adjusted EBITDA expected to range from $40 million to $50 million [5][31]. Cash Flow and Debt - DTI reported adjusted free cash flow of $17.2 million for 2024, with cash and cash equivalents of approximately $6.2 million and net debt of $47.6 million as of December 31, 2024 [2][12][15]. - The company plans to continue analyzing additional acquisition targets to enhance scale and geographic expansion, which is expected to strengthen demand for its products and services [4][31].