Financial Data and Key Metrics Changes - Total consolidated revenue for Q3 2025 was $38.8 million, with tool rental revenue at $31.9 million and product sales revenue at $7 million [9][10] - Net loss attributable to common stockholders was $903,000, or a loss of $0.03 per share, while adjusted net income was $751,000, or adjusted diluted EPS of $0.02 per share [9][10] - Adjusted EBITDA for Q3 was $9.1 million, and adjusted free cash flow was $5.6 million [9][10] - Cash position increased by $3.2 million, and $5.6 million in debt was paid down [5][11] Business Line Data and Key Metrics Changes - The Eastern Hemisphere operations grew revenue by 41% year over year, contributing approximately 15% of total revenue in Q3 [6][11] - Tool rental revenue showed resilience, with product sales primarily from drill pipe recovery holding up well [21][24] Market Data and Key Metrics Changes - The rig count in North America declined by about 5%, but the company managed to maintain activity levels through successful RFQs and tenders [21][23] - The Eastern Hemisphere segment helped offset activity declines in North America, with positive indications of rig count increases in Saudi Arabia and UAE [12][28] Company Strategy and Development Direction - The company is focused on integrating recent acquisitions and enhancing operational efficiency through the OneDTI program [15][16] - Strategic relocation of the U.S. drilling repair facility to Houston is expected to deliver cost savings and efficiency benefits [15] - The company is actively looking for M&A opportunities to enhance its competitive position and expand its geographic reach [17][35] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism about the remainder of 2025 and into 2026, citing the ability to adapt to market changes and maintain financial strength [16][18] - The company anticipates continued demand for complex well-bore solutions, which will strengthen its market position [17][18] Other Important Information - Capital expenditures for Q3 were $3.5 million, with maintenance CapEx approximately 10% of total revenue [9][10] - The company maintains its 2025 full-year guidance ranges, expecting revenue between $145 million and $165 million [12][13] Q&A Session Summary Question: How has utilization been in the U.S. versus Eastern Hemisphere? - Management noted that despite a 5% decline in rig count, they maintained reasonable activity levels through successful business retention and RFQs [21][23] Question: What are the expectations for the seasonal slowdown in Q4? - Management indicated that the seasonal slowdown does not appear to be accelerating, with a flat to slightly down trend expected [26][27] Question: Can you provide insights on the Eastern Hemisphere's performance? - Management highlighted optimism in the Middle East, particularly in Saudi Arabia and UAE, with expectations for increased rig activity [28][29] Question: How does the company plan to utilize its healthy balance sheet? - Management stated that they will focus on debt reduction, stock buybacks, and selective CapEx purchases while remaining focused on M&A opportunities [30][31]