Drilling Tools International Corp.

Drilling Tools International reported second quarter 2026 revenue of $38.1 million, down from $39.4 million a year earlier, and reaffirmed its full-year guidance. Tool rental revenue was $29.6 million, about 78% of total revenue, while product sales rose to $8.5 million from $6.7 million. The company posted a net loss attributable to stockholders of $1.8 million, or $0.05 per share, and adjusted EBITDA of $8.4 million with a 22% margin. Adjusted free cash flow increased to $4.1 million from $1.8 million in the prior-year period. Management cited a global rig count decline of nearly 4% sequentially and Middle East disruptions, but noted North American rig count reached 777 in July, up more than 70 rigs or 10% from the second quarter average. Full-year 2026 guidance was reaffirmed at revenue of $155 million to $170 million, adjusted EBITDA of $35 million to $45 million, and adjusted free cash flow of $17 million to $22 million.