Drilling Tools International Corp. (DTI) delivers specialized equipment and essential services to the oil and natural gas industry, with operations spanning North America, Europe, and the Middle East. The company offers a wide array of downhole products, including desanders, filters, both magnetic and non-magnetic drill collars, tubular goods, and flapper plugs, alongside advanced technologies for wellbore conditioning and friction reduction. Its drilling tool inventory features hole openers, roller reamers, and solutions for extended-reach drilling, complemented by a variety of stabilizers such as integral blade, sleeve, welded blade string, and hard-facing tools. DTI also provides stinger valves, heat-treated steel and non-magnetic sub-assemblies, and a comprehensive selection of handling tools like elevators, slips, tongs, and safety clamps. Furthermore, they supply blowout preventers, pressure control systems, and diverse drilling accessories including float valves, ring gauges, and ditch magnets. Beyond hardware, DTI furnishes critical support services, encompassing downhole inspection, automated well fence data solutions, and compass surveying. Established in 1984, Drilling Tools International Corp. is headquartered in Houston, Texas.
Drilling Tools International Corp. Reports 2026 Second Quarter Results
Drilling Tools International reported Q2 revenue of $38.1 million, down from the prior year, with a net loss of $1.8 million or $0.05 per share. Adjusted Free Cash Flow improved to $4.1 million, driven by operational resilience despite softer North American land activity.
CEO Wayne Prejean noted early signs of recovery in key regions and gaining traction for the ClearPath stabilizer technology in offshore markets. The U.S. land rig count increased steadily through the quarter, adding over 20 rigs in June alone.
The company reaffirmed its full-year 2026 outlook, projecting revenue of $155 million to $170 million and Adjusted EBITDA of $35 million to $45 million. Management expects new awards in Europe to drive a material step-up in the second half of the year.