Drilling Tools International Corp
For the period ended Sep 30, 2025. Filed Nov 7, 2025.
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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, 2025 · Filed Nov 7, 2025
DTI$1.48-6.3%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 Cash Flows
UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS
(UNAUDITED)
| Nine Months Ended September 30, | ||
|---|---|---|
| (In thousands) | 2025 | 2024 |
| Cash flows from operating activities: | ||
| Net income (loss) | $(4,978) | $4,359 |
| Adjustments to reconcile net income to net cash from operating activities: | ||
| Depreciation and amortization | 20,386 | 17,232 |
| Amortization of deferred financing costs | 261 | 226 |
| Non-cash lease expense | 4,014 | 3,620 |
| Unrealized loss on currency translation | 740 | — |
| Write off of excess and obsolete inventory | 718 | — |
| Write off of excess and obsolete property and equipment | 251 | 286 |
| Provision (recovery) for credit losses | 619 | 42 |
| Deferred tax expense | (893) | (1,301) |
| Loss (gain) on sale of property | 70 | (45) |
| Unrealized loss (gain) on equity securities | — | (368) |
| Realized loss on equity securities | — | 12 |
| Gain on sale of lost-in-hole equipment | (8,380) | (7,348) |
| Stock-based compensation expense | 1,820 | 1,572 |
| Interest income on related party note receivable | (117) | — |
| Goodwill impairment | 1,901 | — |
| Changes in operating assets and liabilities: | ||
| Accounts receivable, net | 4,018 | 2,086 |
| Prepaid expenses and other current assets | 1,629 | (633) |
| Inventories | 358 | (2,883) |
| Operating lease liabilities | (3,854) | (3,416) |
| Accounts payable | (4,592) | (2,802) |
| Accrued expenses and other current liabilities | 617 | (916) |
| Net cash flows from operating activities | 14,588 | 9,723 |
| Cash flows from investing activities: | ||
| Acquisition of a business, net of cash acquired | (5,622) | (38,670) |
| Proceeds from sale of equity securities | — | 1,244 |
| Purchase of intangible assets | (1,430) | — |
| Proceeds from sale of property, plant, and equipment | 35 | 77 |
| Purchase of property, plant, and equipment | (16,136) | (19,678) |
| Proceeds from sale of lost-in-hole equipment | 10,408 | 10,895 |
| Net cash flows from investing activities | (12,745) | (46,132) |
| Cash flows from financing activities: | ||
| Investment from non-controlling interest into VIE | 12 | — |
| Payment of deferred financing costs | — | (721) |
| Purchase of treasury stock | (1,152) | — |
| Proceeds from term loan | — | 25,000 |
| Repayment of term loan | (3,750) | (2,083) |
| Repayment of promissory note | (673) | — |
| Proceeds from revolving line of credit | 42,752 | 30,062 |
| Repayment on revolving line of credit | (40,894) | (8,898) |
| Net cash flows from financing activities | (3,705) | 43,360 |
| Effect of changes in foreign exchange rates | 50 | (993) |
| Net change in cash | (1,812) | 5,958 |
| Cash at beginning of period | 6,185 | 6,003 |
| Cash at end of period | $4,373 | $11,961 |
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