Innovex International, Inc. ( (INVX) ) has released its Q3 earnings. Here is a breakdown of the information Innovex International, Inc. presented to its investors.
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Innovex International, Inc., a Houston-based company, specializes in providing comprehensive well lifecycle solutions across North America, Latin America, Europe, the Middle East, and Asia, following its establishment through the merger of Dril-Quip, Inc. and Innovex Downhole Solutions, Inc. in 2024.
In the third quarter of 2025, Innovex International reported a revenue increase of 7% quarter over quarter, reaching $240 million, with a net income of $39 million and a net income margin of 16%. The company also achieved an adjusted EBITDA of $44 million and a free cash flow of $37 million, alongside significant operational developments including the sale of its legacy Dril-Quip Eldridge Facility for $90 million and a new agreement as the exclusive subsea wellhead provider for OneSubsea.
Key financial highlights for Innovex include a return on capital employed of 13% and income from operations totaling $134 million over the twelve months ending September 30, 2025. The company also maintained a strong cash position with $163 million in cash and cash equivalents and ended the quarter with $132.8 million available under its revolving credit facility. Strategic initiatives such as the integration of Citadel and the transformation of its subsea product line are expected to drive future market share gains and margin improvements.
Looking ahead, Innovex’s management remains optimistic about the company’s growth trajectory. The company anticipates further improvements in operating results as it completes its exit from the Eldridge facility by year-end, which is expected to enhance margins in 2026. Additionally, Innovex is poised to capitalize on M&A opportunities, supported by its robust balance sheet and capital-light business model, as it continues to pursue its long-term goals of growth and operational excellence.