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Innovex International Reports Q3 2025 Results and Provides Q4 2025 Guidance

DRQ

Earnings

Guidance Update

Share Buyback

Innovex International reported Q3 2025 revenue of $240 million and net income of $39 million.
Adjusted EBITDA for Q3 2025 was $44 million, with an 18% Adjusted EBITDA Margin. Free Cash Flow for the quarter was $37 million, representing an 84% conversion of Adjusted EBITDA.
The company provided Q4 2025 revenue guidance of $235 – 245 million and Adjusted EBITDA guidance of $42 – 47 million.
Innovex completed the sale of its Eldridge Facility for $90 million, generating $87 million in net proceeds , and has approximately $90.7 million remaining on its $100 million share buyback authorization.

Nov 14, 2025, 3:00 PM

Innovex Reports Q3 2025 Results and Provides Q4 Outlook

DRQ

Earnings

Guidance Update

M&A

Innovex reported Q3 2025 revenue of $240 million, a 7% sequential increase, and adjusted EBITDA of $44 million, representing an 18% margin.
The company generated $37 million in free cash flow in Q3 2025, achieving an 84% conversion rate from adjusted EBITDA.
Operational progress included continued market share gains, successful integration of the Citadel acquisition, and record Subsea Services revenue in the U.S. Offshore market.
Innovex provided Q4 2025 guidance of revenue between $235 million and $245 million and adjusted EBITDA between $42 million and $47 million.
Strategic developments include an exclusive subsea wellhead supply agreement with OneSubsea, with orders expected in 2026, and the sale of the Eldridge facility for $87 million net proceeds, which is anticipated to improve margins in 2026.

Nov 4, 2025, 3:00 PM

Innovex Reports Q3 2025 Results and Provides Q4 Outlook

DRQ

Earnings

Guidance Update

M&A

Innovex reported Q3 2025 revenue of $240 million, representing a 7% sequential increase, and adjusted EBITDA of $44 million, which was a sequential decrease of $3 million, resulting in an 18% adjusted EBITDA margin.
The company generated $37 million in free cash flow for the third quarter, contributing to $112 million year-to-date through September 30, 2025.
For Q4 2025, Innovex expects revenues to be between $235 million and $245 million and adjusted EBITDA to be between $42 million and $47 million.
Strategic initiatives, including the successful integration of the Citadel acquisition and the exit of the Eldridge facility, are anticipated to drive meaningful margin improvement in 2026, contributing to a long-term goal of 25% adjusted EBITDA margin.
Innovex maintains a strong net cash position with $163 million in cash and equivalents and an active M&A pipeline, having deployed over $190 million towards acquisitions in the last 12 months.