Innovex International, Inc.
For the period ended Sep 30, 2025. Filed Nov 4, 2025.
View on SEC.govAbout this filing
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, 2025 · Filed Nov 4, 2025
INVX$24.91-1.6%Stored close · as of Nov 10, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
See the whole filing, with its images and exhibitsContents
Item 1. Condensed Consolidated Statements of Cash Flows
Condensed Consolidated Statements of Cash Flows
| Nine Months Ended September 30, | ||
|---|---|---|
| (in thousands) | 2025 | 2024 |
| Cash flows from operating activities | ||
| Net income | $69,330 | $108,537 |
| Adjustments to reconcile net income to net cash provided by (used in) operating activities: | ||
| Depreciation and amortization | 45,281 | 19,168 |
| Deferred financing fees amortization | 244 | 298 |
| Amortization of operating lease ROU asset | 9,225 | 5,764 |
| Impairment of long-lived assets | 3,427 | 3,522 |
| Bargain purchase loss/(gain) | 3,342 | (92,659) |
| Stock based compensation expense | 8,769 | 11,824 |
| Gain on sale of property, equipment and lease terminations | (41,337) | (769) |
| Deferred tax, net | 31,317 | 783 |
| Equity method earnings, net of dividends | — | 102 |
| Changes in operating assets and liabilities, net of amounts related to acquisitions: | ||
| Accounts receivable, net | 4,213 | 27,163 |
| Inventories | 20,463 | (19,707) |
| Prepaid expenses and other current assets | 2,690 | (4,552) |
| Other long-term assets | (1,736) | (210) |
| Accounts payable | (7,586) | 1,345 |
| Accrued expenses and other current liabilities | (19,935) | (2,608) |
| Other operating assets and liabilities, net | 10,967 | (907) |
| Net cash provided by operating activities | 138,674 | 57,094 |
| Cash flows from investing activities | ||
| Payments on acquisitions, net of cash acquired | (81,169) | — |
| Capital expenditures | (26,205) | (5,967) |
| Proceeds from sale of property and equipment | 98,591 | 2,053 |
| Cash acquired in stock based business combination | — | 154,312 |
| Net cash provided by (used in) investing activities | (8,783) | 150,398 |
| Cash flows from financing activities | ||
| Deferred debt issuance cost | (1,455) | — |
| Revolving credit facility borrowings | 144,200 | 148,300 |
| Revolving credit facility payments | (158,200) | (171,500) |
| Term loan payments | (11,429) | (5,033) |
| Payments on finance leases | (5,292) | (4,137) |
| Common stock repurchased and retired | (9,280) | — |
| Dividend payment | — | (74,983) |
| Proceeds from exercise of options | — | 3,326 |
| Taxes paid related to net share settlement of equity awards | (678) | (10,185) |
| Net cash used in financing activities | (42,134) | (114,212) |
| Effect of exchange rate changes | 2,339 | (791) |
| Net change in cash and restricted cash | 90,096 | 92,489 |
| Cash and restricted cash beginning of period | 73,278 | 7,406 |
| Cash and restricted cash end of period | $163,374 | $99,895 |
| Supplemental cash flow information: | ||
| Cash paid for interest | $1,023 | $1,561 |
| Cash paid for income taxes, net of refunds | 8,714 | 7,041 |
| Non-cash investing and financing activities: | ||
| Property and equipment purchases in accounts payable | $1,049 | $594 |
| Operating lease assets obtained in exchange for lease obligations | 10,917 | 20,227 |
| Finance lease assets obtained in exchange for lease obligations | 21,551 | 5,081 |
| Stock issuance related to business acquisition | — | 537,273 |
The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.