Drilling Tools International Corp. reported its second quarter 2025 results on August 13, 2025, with total consolidated revenue of $39.4 million, marking a nearly 5% increase year-over-year. Tool rental revenue grew by 15.6% year-over-year to $32.8 million, while product sales revenue declined by 27.6% year-over-year to $6.7 million.
The company reported a net loss of approximately ($2.4) million and a diluted EPS loss of ($0.07) per share for the quarter. Adjusted EBITDA increased by 4% year-over-year to $9.3 million. DTI achieved positive adjusted free cash flow of $1.8 million in Q2 2025, marking the first positive adjusted free cash flow for any second quarter since becoming a public company.
As of June 30, 2025, DTI had approximately $1.1 million in cash and cash equivalents and net debt of $55.8 million. The Eastern Hemisphere segment demonstrated strong performance, growing revenue by 46% quarter-over-quarter and contributing approximately 14% of total revenue. The company also executed $600,000 of its $10 million share repurchase program during the quarter at an average price of $3 per share. DTI maintained its full-year 2025 guidance for revenue, adjusted EBITDA, and adjusted free cash flow, while noting anticipated pricing pressures in the second half of the year.
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