创新国际公司2025年季度报告

OR Cautionary Statement Regarding Forward-Looking StatementsFINANCIAL INFORMATION i This Quarterly Report on Form 10-Q (this “Quarterly Report”) includes certain statements that may be deemed to be“forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended (the “Securities Act”),and Section 21E of the Securities Exchange Act of 1934, as amended (the “Exchange Act”). Statements contained in all parts ofthis Quarterly Report that are not historical facts are forward-looking statements that involve risks and uncertainties that are beyondthe control of Innovex International, Inc. (the “Company” or “we”). You can identify the Company’s forward-looking statementsby the words “anticipate,” “estimate,” “expect,” “may,” “project,” “believe” and similar expressions, or by the Company’sdiscussion of strategies or trends. Although the Company believes that the expectations reflected in such forward-looking •the impact of general economic conditions, including inflationary pressures and interest rates, a general economic •future operating results and cash flow; •planned or estimated cost savings; •working capital requirements; •our ability to execute our strategies, including our ability to successfully identify and consummate strategic •the need for and the availability of expected sources of liquidity; •the Company’s ability to comply with restrictions contained in its debt agreements; •the Company’s ability to generate sufficient cash to service its indebtedness, fund its capital requirements and generatefuture profits; •the market for the Company’s existing and future products; •the Company’s ability to develop new applications for its technologies; •introduction of new drilling or completion techniques, or services using new technologies subject to patent or otherintellectual property protections and the availability and enforceability of such intellectual property protections; •the price and availability of alternative fuels and energy sources; •the exploration, development and production activities of the Company’s customers; •effects of pending or future legal proceedings; •the effects of existing and future laws and governmental regulations (or the interpretation thereof) on us and our customers; •changes in customers’ future product and service requirements that may not be cost effective or within the Company’scapabilities; and •future operations, financial results, business plans and cash needs circumstances when the statements were made. Forward-looking statements by their nature involve substantial risks anduncertainties that could significantly impact expected results, and actual future results could differ materially from those described Among the factors that could cause actual future results to differ materially are (i) risks related to our merger and acquisitionactivities, including the ultimate outcome and results of integrating operations; the effects of our merger and acquisition activities, iiiresults of operations and the ultimate accuracy of the forward-looking statements. Management cautions against putting unduereliance on forward-looking statements or projecting any future results based on such statements or present or prior earnings levels.Every forward-looking statement speaks only as of the date of the particular statement, and the Company undertakes no obligationto publicly update or revise any forward-looking statement except as may be required by law. Company’s stock remained listed on the New York Stock Exchange, and its symbol was changed to “INVX”. Except as otherwiseindicated, references herein to “Dril-Quip” are to Dril-Quip, Inc. prior to the completion of the Merger. accounting acquirer. The Consolidated Financial Statements of the Company reflect the financial position, results of operations andcash flows of only Legacy Innovex for all periods prior to the Merger and of the Combined Company for all periods subsequent to the Merger. Legacy Innovex (the“Legacy Innovex Common Stock”) were converted into the right to receive32,183,966shares of commonstock, par value $0.01per share, of the Company (the “Company Common Stock”). The number of shares of Company CommonStock received for each share of Legacy Innovex Common Stock by the Legacy Innovex shareholders was equal to2.0125. On February 7, 2025, the Company acquired SCF Machining Corporation (“SCF”) for cash, resulting in SCF becoming awholly owned subsidiary of Innovex. Refer toNote 3. Mergers and Acquisitionsfor further details.On February 25, 2025, the Company's board of directors approved a new share repurchase program (the “New ShareRepurchase Program”) that authorizes repurchases of up to an aggregate of $100million of outstanding Company Common Stock.In connection with the New Share Repurchase Program, all share repurchase plans previously authorized by the board of directors The accompanying Condensed Consolidated Financial Statements have been prepa