创新国际公司2025年季度报告

(Mark One)☒QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF1934 For the quarterly period endedMarch 31,2025 ☐TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF1934 INNOVEX INTERNATIONAL, INC. (Exact Name of Registrant as Specified in its Charter) Delaware(State or other jurisdiction ofincorporation or organization)19120 Kenswick Dr.Humble,Texas(Address of principal executive offices)Registrant’s telephone number, including area code: (346)398-0000 77338(Zip Code) Securities registered pursuant to Section 12(b) of the Act: Title of each classCommon stock, par value $0.01 per share Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the SecuritiesExchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has Indicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submitted pursuant toRule 405 of Regulation S-T (§232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, smaller reportingcompany, or an emerging growth company. See the definitions of “large accelerated filer,” “accelerated filer,” “smaller reporting company,” and Large accelerated filerNon-accelerated filerEmerging growth company If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period forcomplying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act.☐ Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act).Yes☐No☒As of May 1, 2025, the registrant had68,978,731shares of common stock, $0.01 par value per share, outstanding. Table of Contents PART IFINANCIAL INFORMATIONItem 1.Condensed Consolidated Financial Statements(unaudited)1Condensed Consolidated Balance Sheets1Condensed Consolidated Statements of Operations and Comprehensive Income2Condensed Consolidated Statements of Changes in Stockholders’ Equity3Condensed Consolidated Statements of Cash Flows4Notes to Condensed Consolidated Financial Statements5Item 2.Management’s Discussion and Analysis of Financial Condition and Results of Operations19Item 3.Quantitative and Qualitative Disclosures About Market Risk31 Item 4.Controls and ProceduresPART IIOTHER INFORMATIONItem 1.Legal ProceedingItem 1A.Risk FactorsItem 2.Unregistered Sales of Equity Securities and Use of ProceedsItem 3.Defaults Upon Senior SecuritiesItem 4.Mine Safety DisclosuresItem 5.Other InformationItem 6.ExhibitsSignatures Cautionary Statement Regarding Forward-Looking Statements 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 statements •the impact of actions taken by the Organization of Petroleum Exporting Countries and the expanded alliance (OPEC+)with respect to their production levels and the effects thereof; •the impact of general economic conditions, including inflationary pressures and interest rates, a general economicslowdown or recession or instability in financial institutions, on economic activity and on our operations; •future operating results and cash flow; •scheduled, budgeted and other future capital expenditures; •planned or estimated cost savings; •working capital requirements; •our ability to execute our strategies, including our ability to successfully identify and consummate strategicacquisitions; •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 fu