Drilling Tools International Corp. reported its first quarter 2025 results on May 14, 2025, with total consolidated revenue of $42.9 million, representing a 16% increase year-over-year. Tool rental revenue was approximately $34.5 million, and product sales revenue totaled $8.3 million. The company reported a net loss of approximately ($1.7) million and a diluted EPS loss of ($0.05) per share.
Adjusted EBITDA for the first quarter was $10.8 million, growing nearly 18% over the same period last year, and adjusted free cash flow was $5.7 million. As of March 31, 2025, DTI had approximately $2.8 million in cash and cash equivalents and net debt of $52.1 million. The company also recognized a goodwill impairment of $1.9 million.
DTI's Board of Directors authorized a share repurchase program of up to $10 million, reflecting confidence in the company's long-term strategy and financial health. Concurrently, DTI updated its 2025 full-year outlook, revising revenue to a range of $145 million to $165 million, adjusted EBITDA to $32 million to $42 million, and adjusted free cash flow to $14 million to $19 million. This revision was attributed to increased market volatility and uncertainty, including potential impacts of tariffs and recession fears.
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