Innovex International Inc
For the period ended Sep 30, 2024. Filed Nov 8, 2024.
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A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.
Sep 30, 2024 · Filed Nov 8, 2024
INVX$24.91-1.6%Stored close · as of Nov 10, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
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Condensed Consolidated Statements of Operations and Comprehensive Income
(in thousands, except share and per share amounts)
| Three Months Ended September 30, | Nine Months Ended September 30, | |||
|---|---|---|---|---|
| 2024 | 2023 | 2024 | 2023 | |
| Revenues | ||||
| Products | $126,643 | $115,801 | $343,322 | $353,164 |
| Services | 15,774 | 15,000 | 43,674 | 46,603 |
| Rental | 9,400 | 8,285 | 23,120 | 22,582 |
| Total revenues | 151,817 | 139,086 | 410,116 | 422,349 |
| Cost of revenues(a) | ||||
| Products | 76,954 | 72,252 | 213,325 | 228,575 |
| Services | 19,855 | 15,750 | 44,329 | 41,850 |
| Rental | 2,329 | 1,185 | 4,701 | 4,938 |
| Total cost of revenues | 99,138 | 89,187 | 262,355 | 275,363 |
| Selling, general and administrative expenses | 37,984 | 19,226 | 77,903 | 54,108 |
| (Gain)/loss on sale of assets | (169) | (102) | (487) | 71 |
| Depreciation and amortization | 7,786 | 5,768 | 19,168 | 16,576 |
| Impairment of long-lived assets | — | 266 | 3,522 | 266 |
| Acquisition costs | 20,296 | 760 | 25,492 | 1,985 |
| Income (Loss) from operations | (13,218) | 23,981 | 22,163 | 73,980 |
| Interest expense | 729 | 1,516 | 2,055 | 4,714 |
| Other expense/(income), net | (269) | 62 | (402) | (98) |
| Equity method earnings | 1,018 | 844 | 2,230 | 1,515 |
| Gain on bargain purchase | 92,659 | — | 92,659 | — |
| Income before income taxes | 79,999 | 23,247 | 115,399 | 70,879 |
| Income tax expense (benefit), net | (2,587) | 7,881 | 6,862 | 15,401 |
| Net income | 82,586 | 15,366 | 108,537 | 55,478 |
| Foreign currency translation adjustment | 2,457 | (795) | (362) | (304) |
| Comprehensive income | $85,043 | $14,571 | $108,175 | $55,174 |
| Earnings per common share | ||||
| Basic | $2.03 | $0.50 | $3.18 | $1.79 |
| Diluted | $1.99 | $0.48 | $3.08 | $1.73 |
| Weighted average common shares outstanding | ||||
| Basic | 40,728,902 | 30,928,647 | 34,139,548 | 30,928,647 |
| Diluted | 41,530,978 | 32,080,960 | 35,289,692 | 32,053,353 |
(a)Cost of revenues excludes depreciation and amortization.
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