Innovex International (INVX) Company Report

Innovex International, Inc.'s Selling Stockholders sold 5,750,000 shares of common stock at $25.75 per share, with an additional 862,500 shares purchased by underwriters via an option, in an offering that closed on February 27, 2026.
The Company did not sell any shares in this offering and did not receive any proceeds from the sale.
Concurrently, the Company repurchased 575,000 shares from the Underwriters for approximately $14.1 million as part of its existing share repurchase program.
Following this transaction, $76.6 million remains available under the Company's share repurchase program.

8 hours ago

Innovex Reports Strong Q4 and Full-Year 2025 Results, Provides Q1 2026 Outlook

INVX

Earnings

Guidance Update

M&A

Innovex reported Q4 2025 revenue of $274 million, a 14% sequential increase, and Adjusted EBITDA of $52 million, representing a 19% margin. This performance was driven by higher-than-expected subsea deliveries and revenue synergies from recent acquisitions.
For the full year 2025, the company achieved $188 million in Adjusted EBITDA (19% margin) and $156 million in free cash flow, converting approximately 83% of its adjusted EBITDA.
Innovex ended 2025 with $203 million in cash and cash equivalents and no bank debt, providing significant financial flexibility for capital allocation.
For Q1 2026, the company expects revenue in the range of $225 million to $235 million and Adjusted EBITDA of $38 million to $42 million, with the sequential decline attributed to seasonality and subsea delivery timing.
Strategic initiatives include the planned exit of the Eldridge facility by the end of Q2 2026 to drive margin expansion, and M&A remains the top capital allocation priority for 2026, with an active pipeline of add-on acquisitions.

4 days ago

Innovex International Reports Strong Q4 2025 Results and Provides Q1 2026 Outlook

INVX

Earnings

Guidance Update

M&A

Innovex International reported Q4 2025 revenue of $274 million, a 14% sequential increase, with Adjusted EBITDA of $52 million (19% margin) and $43 million in free cash flow. For the full year 2025, free cash flow was $156 million, converting approximately 83% of Adjusted EBITDA.
For Q1 2026, the company expects revenue between $225 million and $235 million and Adjusted EBITDA between $38 million and $42 million, primarily due to seasonality, subsea delivery timing, and weather impacts on U.S. Land activity.
The company ended 2025 with approximately $203 million of cash and cash equivalents and no bank debt, providing significant financial flexibility.
Performance was driven by higher-than-expected subsea deliveries, momentum in drilling enhancement and well construction, and revenue synergies from recent acquisitions. The planned exit of the Eldridge facility by the end of Q2 2026 is a foundational element for margin improvement, and M&A remains a top capital allocation priority for 2026.

4 days ago

Innovex Reports Strong Q4 and Full-Year 2025 Results, Provides Q1 2026 Outlook

INVX

Earnings

Guidance Update

M&A

Innovex reported Q4 2025 revenue of $274 million, a 14% sequential increase, and full-year 2025 adjusted EBITDA of $188 million with a 19% margin.
The company achieved $156 million in free cash flow for full-year 2025, converting 83% of its adjusted EBITDA to free cash flow.
For Q1 2026, Innovex anticipates revenue in the range of $225 million to $235 million and adjusted EBITDA between $38 million and $42 million, attributing the sequential decline to seasonality and subsea delivery timing.
Innovex is focused on margin improvement, including the planned exit of the Eldridge facility by the end of Q2 2026, and disciplined M&A remains its top capital allocation priority for 2026.

4 days ago

Innovex Announces Fourth-Quarter and Full Year 2025 Results

INVX

Earnings

New Projects/Investments

Revenue Acceleration/Inflection

Innovex International, Inc. reported revenue of $274 million for Q4 2025, representing a 14% increase quarter over quarter, and full year 2025 revenue of $978.251 million.
For Q4 2025, the company achieved Net Income of $14 million and Adjusted EBITDA of $52 million, with Free Cash Flow of $43 million for the quarter and $156 million for the full year.
Innovex ended 2025 with $203 million of cash and cash equivalents and no bank debt, converting approximately 83% of its Adjusted EBITDA into Free Cash Flow for both Q4 and the full year.
Key operational highlights include the delivery of the first subsea wellhead products under the Innovex-OneSubsea alliance, the tenth successful XPak installation in Brazil, and significant progress towards exiting the legacy Eldridge facility by the end of Q2 2026.

4 days ago

Innovex International, Inc. Announces Third Quarter 2025 Results and Q4 2025 Guidance

INVX

Earnings

Guidance Update

M&A

Innovex International, Inc. reported revenue of $240 million for the third quarter of 2025, an increase of 7% quarter over quarter, with net income of $39 million and Adjusted EBITDA of $44 million.
The company generated $48 million in net cash provided by operating activities and $37 million in free cash flow during Q3 2025.
Innovex closed the sale of its legacy Dril-Quip Eldridge Facility for $90.0 million, resulting in $87 million in net proceeds.
A new agreement was signed to become the exclusive subsea wellhead provider for OneSubsea.
For the fourth quarter of 2025, Innovex expects to generate revenue between $235 million and $245 million and Adjusted EBITDA between $42 million and $47 million.