Innovex International Inc (INVX) financial statements: income statement, balance sheet and cash flow

Innovex International Inc's income statement, balance sheet and cash flow statement as filed with the SEC (10-K and 10-Q), with the latest fiscal years and quarters. In its latest fiscal year (Dec 31, 2025 · FY), Innovex International Inc reported revenue of $978.3M (+48.0% year on year) and net income of $83.3M (-40.6% year on year).

Income statement

Innovex International Inc income statement, fiscal years

Line item	Dec 31, 2025 · FY	Dec 31, 2024 · FY	Dec 31, 2023 · FY	Dec 31, 2022 · FY
Total revenues	$978.3M	$660.8M	$376.7M	$320.0M
Total cost of revenues	$675.0M	$428.2M	$308.5M	$265.9M
Selling, general and administrative expenses	$128.8M	$116.2M	$101.5M	$94.2M
(Gain) loss on sale of assets	($39.8M)	($654.0K)	—	—
Depreciation and amortization	$60.7M	$31.2M	—	—
Impairment of long-lived assets	$3.4M	$3.5M	—	—
Acquisition and integration costs	$17.5M	—	—	—
Income from operations	$132.6M	$49.1M	$5.3M	$2.5M
Interest expense	$2.6M	$2.4M	—	($216.0K)
Other (income) expense, net	($1.8M)	$298.0K	—	—
Equity method earnings	$0	($2.6M)	—	—
Bargain purchase loss (gain)	$3.3M	($85.8M)	—	—
Gain on consolidation of equity method investment	$0	($8.0M)	—	—
Income before income taxes	$128.5M	$142.8M	$13.5M	$6.8M
Income tax expense	$45.2M	$2.5M	$12.9M	$6.3M
Net income	$83.3M	$140.3M	$604.0K	$443.0K
Foreign currency translation adjustment	$12.9M	($11.0M)	—	—
Comprehensive income	$96.2M	$129.4M	—	—
Basic	$1.21	$2.82	$0.02	$0.01
Diluted	$1.20	$2.77	$0.02	$0.01
Basic	69.0M	49.7M	34.2M	34.2M
Diluted	69.4M	50.6M	34.5M	34.5M

Innovex International Inc income statement, quarters

Line item	Jun 30, 2026 · Q2	Mar 31, 2026 · Q1	Sep 30, 2025 · Q3	Jun 30, 2025 · Q2
Total revenues	$244.9M	$239.0M	$240.0M	$224.2M
Total cost of revenues	$161.2M	$154.5M	$164.1M	$152.5M
Selling, general and administrative expenses	$39.1M	$41.7M	$35.6M	$28.8M
Gain on sale of assets, net	($9.9M)	($2.0M)	($40.9M)	($419.0K)
Depreciation and amortization	$16.2M	$16.2M	$15.4M	$15.0M
Impairment of long-lived assets	$0	$0	$0	$503.0K
Acquisition and integration costs	$1.6M	$1.6M	$3.6M	$5.1M
Provision for legal settlement	$2.8M	$48.8M	—	—
Income from operations	$33.8M	($21.8M)	$62.3M	$22.7M
Interest (income) expense, net	($653.0K)	($388.0K)	$677.0K	$551.0K
Other income, net	($972.0K)	$150.0K	$303.0K	($92.0K)
Income before income taxes	$35.4M	($21.6M)	$58.0M	$22.2M
Income tax expense	$10.4M	($4.9M)	$18.7M	$6.9M
Net income	$25.0M	($16.7M)	$39.2M	$15.3M
Foreign currency translation adjustment	($440.0K)	$1.8M	$1.3M	$6.7M
Comprehensive income	$24.6M	($14.9M)	$40.5M	$22.1M
Basic	$0.36	-$0.24	$0.57	$0.22
Diluted	$0.36	-$0.24	$0.57	$0.22
Basic	68.8M	68.9M	68.8M	68.9M
Diluted	69.5M	68.9M	69.3M	69.1M

Balance sheet

Innovex International Inc balance sheet, fiscal years

Line item	Dec 31, 2025 · FY	Dec 31, 2024 · FY	Dec 31, 2023 · FY	Dec 31, 2022 · FY
Cash and restricted cash	$203.4M	$73.3M	—	—
Trade receivables, net of allowance of $19,752 and $63,875 at December 31, 2025 and December 31, 2024, respectively	$237.8M	$239.5M	$135.6M	$91.5M
Contract assets	$2.7M	$5.1M	—	—
Inventories	$248.4M	$271.2M	$194.6M	$146.0M
Assets held for sale	$0	$4.7M	$0	$19.4M
Prepaid expenses and other current assets	$35.7M	$47.6M	—	—
Total current assets	$728.0M	$641.4M	$719.7M	$752.6M
Property and equipment, net	$158.9M	$190.8M	$217.6M	$181.3M
Right of use assets - operating	$52.2M	$54.9M	$16.3M	$4.9M
Goodwill	$99.7M	$60.2M	$16.7M	—
Intangibles, net	$116.2M	$108.4M	—	—
Deferred tax asset, net	$102.4M	$134.5M	$9.0M	$4.5M
Other long-term assets	$10.9M	$7.4M	$6.9M	$5.9M
Total noncurrent assets	$540.3M	$556.1M	—	—
Total assets	$1.3B	$1.2B	$1.0B	$972.5M
Accounts payable	$60.7M	$65.2M	$65.7M	$43.0M
Accrued expenses	$49.1M	$60.6M	—	—
Operating lease liabilities	$12.7M	$10.5M	$2.1M	$1.1M
Contract liabilities	$12.0M	$13.5M	$7.6M	$8.0M
Current portion of long-term debt and finance lease obligations	$6.7M	$10.5M	—	—
Other current liabilities	$6.9M	$2.4M	—	—
Total current liabilities	$148.2M	$162.7M	$117.7M	$87.6M
Long-term debt and finance lease obligations	$18.9M	$24.9M	—	—
Operating lease liabilities	$41.0M	$45.2M	$14.6M	$3.8M
Deferred income taxes	$500.0K	$624.0K	$10.6M	$3.8M
Other long-term liabilities	$2.0M	$6.0M	$3.8M	$1.7M
Total noncurrent liabilities	$62.4M	$76.7M	—	—
Total liabilities	$210.6M	$239.3M	$146.9M	$97.6M
Preferred stock: 10,000,000 shares authorized at $0.01 par value (none issued)	0	—	0	0
Common stock: $0.01 par value, 200,000,000 and 100,000,000 shares authorized at December 31, 2025 and December 31, 2024, respectively; 69,077,237 and 69,178,263 shares issued and outstanding at December 31, 2025 and December 31, 2024, respectively	691.0K	692.0K	343.0K	343.0K
Additional paid-in capital	$767.6M	$755.1M	$100.3M	$90.5M
Accumulated other comprehensive income (loss)	$4.1M	($8.9M)	—	—
Retained earnings	$285.3M	$211.3M	$950.7M	$952.7M
Total stockholders' equity	$1.1B	$958.2M	$881.3M	$874.9M
Total liabilities and stockholders' equity	$1.3B	$1.2B	$1.0B	$972.5M

Innovex International Inc balance sheet, quarters

Line item	Jun 30, 2026	Mar 31, 2026	Sep 30, 2025	Jun 30, 2025
Cash and restricted cash	$222.1M	$200.7M	$163.4M	$68.8M
Trade receivables, net of allowance of $15,174 and $19,752 at June 30, 2026 and December 31, 2025, respectively	$240.1M	$245.6M	$220.4M	$221.0M
Contract assets	$3.3M	$2.8M	$3.0M	$3.1M
Inventories	$264.8M	$253.0M	$275.2M	$278.5M
Prepaid expenses and other current assets	$58.3M	$49.5M	$47.4M	$55.9M
Total current assets	$788.5M	$752.9M	$710.4M	$670.1M
Property and equipment, net	$169.6M	$163.3M	$158.7M	$150.7M
Right-of-use assets - operating	$48.7M	$51.2M	$54.7M	$56.5M
Goodwill	$106.0M	$99.8M	$95.4M	$94.1M
Intangibles, net	$115.3M	$112.0M	$120.5M	$124.7M
Deferred tax asset, net	$89.3M	$98.2M	$104.1M	$122.1M
Other long-term assets	$10.2M	$10.3M	$10.1M	$8.8M
Total noncurrent assets	$539.2M	$534.8M	$543.6M	$557.0M
Total assets	$1.3B	$1.3B	$1.3B	$1.2B
Accounts payable	$77.2M	$74.9M	$66.6M	$65.3M
Accrued expenses	$37.8M	$35.2M	$45.7M	$48.6M
Operating lease liabilities	$12.7M	$12.6M	$12.8M	$12.3M
Contract liabilities	$14.5M	$11.1M	$10.3M	$6.9M
Current portion of long-term debt and finance lease obligations	$6.0M	$6.2M	$6.3M	$5.9M
Other current liabilities	$9.3M	$7.7M	$7.0M	$6.7M
Total current liabilities	$157.5M	$147.8M	$148.7M	$145.7M
Long-term debt and finance lease obligations	$19.0M	$18.0M	$20.1M	$34.8M
Operating lease liabilities	$36.7M	$39.3M	$43.3M	$45.6M
Deferred income taxes	$621.0K	$743.0K	$619.0K	$1.4M
Legal settlement accrual	$51.6M	$48.8M	—	—
Other long-term liabilities	$3.7M	$2.1M	$2.3M	$4.0M
Total noncurrent liabilities	$111.7M	$109.0M	$66.2M	$85.8M
Total liabilities	$269.2M	$256.8M	$215.0M	$231.5M
Preferred stock: 10,000,000 shares authorized at $0.01 par value (none issued)	0	0	0	0
Common stock: $0.01 par value, 200,000,000 shares authorized at June 30, 2026 and December 31, 2025; 68,875,856 and 69,077,237 shares issued and outstanding at June 30, 2026 and December 31, 2025, respectively	689.0K	686.0K	689.0K	688.0K
Additional paid-in capital	$772.9M	$769.9M	$763.2M	$760.3M
Accumulated other comprehensive income	$5.4M	$5.8M	$3.8M	$2.5M
Retained earnings	$279.5M	$254.5M	$271.3M	$232.1M
Total stockholders' equity	$1.1B	$1.0B	$1.0B	$995.6M
Total liabilities and stockholders' equity	$1.3B	$1.3B	$1.3B	$1.2B

Cash flow statement

Innovex International Inc cash flow statement, fiscal years

Line item	Dec 31, 2025 · FY	Dec 31, 2024 · FY	Dec 31, 2023 · FY	Dec 31, 2022 · FY
Net income	$83.3M	$140.3M	$604.0K	—
Depreciation and amortization	$60.7M	$31.2M	$30.3M	$29.4M
Deferred debt issuance cost amortization	$317.0K	$409.0K	—	—
Amortization of operating lease ROU asset	$12.5M	$8.3M	—	—
Impairment of long-lived assets	$3.4M	$3.5M	—	—
Bargain purchase loss (gain)	$3.3M	—	—	—
Gain on consolidation of equity method investment	$0	($8.0M)	—	—
Stock based compensation expense	$13.8M	$13.2M	$10.9M	$10.4M
(Gain) loss on sale of property, equipment and lease terminations	($40.1M)	($939.0K)	—	—
Deferred tax, net	$34.3M	($4.6M)	($2.9M)	$6.4M
Equity method earnings, net of dividends	$0	$495.0K	—	—
Trade receivables, net	$17.6M	$13.2M	($25.8M)	$8.4M
Inventories	$46.6M	$7.9M	($28.6M)	($1.2M)
Prepaid expenses and other current assets	$10.9M	($7.8M)	—	—
Other long-term assets	($3.8M)	($2.0M)	—	—
Accounts payable	($12.7M)	($22.3M)	—	—
Accrued expenses and other current liabilities	($19.1M)	$651.0K	—	—
Other operating assets and liabilities, net	($20.2M)	$5.7M	—	—
Net cash provided by operating activities	$190.9M	$93.4M	$7.7M	($36.8M)
Payments on acquisitions, net of cash acquired	($83.7M)	($65.5M)	—	—
Capital expenditures	($35.1M)	($13.6M)	—	—
Proceeds from sale of property and equipment	$100.1M	$3.2M	—	—
Equity method investment	$0	$0	—	—
Cash acquired in stock based business combination	$0	$154.3M	—	—
Net cash (used in) provided by investing activities	($18.7M)	$78.4M	($79.8M)	($30.1M)
Deferred debt issuance cost	($1.5M)	$0	—	—
Revolving credit facility borrowings	$144.2M	$187.3M	—	—
Revolving credit facility payments	($158.2M)	($196.5M)	—	—
Term loan payments	($11.4M)	($6.3M)	—	—
Subordinated note payments	$0	$0	—	—
Payments on finance leases	($7.5M)	($5.7M)	—	—
Common stock repurchased and retired	($9.3M)	$0	—	—
Dividend payment	$0	($75.0M)	—	—
Proceeds from exercise of options	$0	$3.3M	—	—
Taxes paid related to net share settlement of equity awards	($1.2M)	($10.2M)	—	—
Net cash used in financing activities	($44.9M)	($103.1M)	($124.0K)	($20.9M)
Effect of exchange rate changes	$2.9M	($2.9M)	—	—
Net change in cash and restricted cash	$130.1M	$65.9M	($73.4M)	($90.6M)
Cash and restricted cash beginning of period	$73.3M	$7.4M	—	—
Cash and restricted cash end of period	$203.4M	$73.3M	—	—
Cash paid for interest	$1.0M	$2.0M	—	—
Property and equipment purchases in accounts payable	$14.0K	—	—	—
Operating lease assets obtained in exchange for lease obligations	$11.4M	—	—	—
Finance lease assets obtained in exchange for lease obligations	$22.9M	—	—	—
Stock issuance related to business acquisition	$0	—	—	—

Innovex International Inc cash flow statement, quarters

Line item	Jun 30, 2026 · YTD	Mar 31, 2026 · Q1	Sep 30, 2025 · YTD	Jun 30, 2025 · YTD
Net income	$8.4M	($16.7M)	$69.3M	$30.1M
Depreciation and amortization	$32.4M	$16.2M	$45.3M	$29.9M
Deferred debt issuance cost amortization	$146.0K	$73.0K	$244.0K	$171.0K
Amortization of operating lease ROU asset	$6.6M	$3.3M	$9.2M	$6.0M
Impairment of long-lived assets	$0	$0	$3.4M	$3.4M
Provision for legal settlement	$51.6M	$48.8M	—	—
Stock based compensation expense	$6.4M	$3.0M	$8.8M	$5.5M
Gain on sale of property, equipment and lease terminations	($11.9M)	($2.0M)	($41.3M)	—
Deferred tax, net	$13.7M	$4.4M	$31.3M	$13.9M
Trade receivables, net	($3.1M)	($10.3M)	$4.2M	$7.8M
Inventories	($14.9M)	($3.1M)	$20.5M	$14.5M
Prepaid expenses and other current assets	($22.2M)	($13.6M)	$2.7M	($5.8M)
Other long-term assets	$322.0K	$636.0K	($1.7M)	($1.1M)
Accounts payable	$15.7M	$14.0M	($7.6M)	($7.2M)
Accrued expenses and other current liabilities	($11.8M)	($13.3M)	($19.9M)	($12.3M)
Other operating assets and liabilities, net	($14.4M)	($11.6M)	$11.0M	$5.9M
Net cash provided by operating activities	$56.9M	$19.8M	$138.7M	$90.3M
Payments on acquisitions, net of cash acquired	($12.0M)	$0	($81.2M)	($80.7M)
Capital expenditures	($12.5M)	($5.8M)	($26.2M)	($14.4M)
Proceeds from sale of property and equipment	$5.7M	$202.0K	$98.6M	$8.7M
Net cash used in investing activities	($18.8M)	($5.6M)	($8.8M)	($86.3M)
Deferred debt issuance cost	$0	$0	($1.5M)	($1.5M)
Revolving credit facility borrowings	$0	$0	$144.2M	$136.2M
Revolving credit facility payments	$0	$0	($158.2M)	($121.2M)
Term loan payments	$0	$0	($11.4M)	($11.4M)
Payments on finance leases	($4.1M)	($2.1M)	($5.3M)	($3.5M)
Common stock repurchased and retired	($14.1M)	($14.1M)	($9.3M)	($9.3M)
Taxes paid related to net share settlement of equity awards	($1.1M)	($710.0K)	($678.0K)	($294.0K)
Net cash used in financing activities	($19.3M)	($16.9M)	($42.1M)	($11.0M)
Effect of exchange rate changes	($78.0K)	($5.0K)	$2.3M	$2.5M
Net change in cash and restricted cash	$18.6M	($2.7M)	$90.1M	($4.5M)
Cash and restricted cash beginning of period	$203.4M	$203.4M	$73.3M	$73.3M
Cash and restricted cash end of period	$222.1M	$200.7M	$163.4M	$68.8M
Cash paid for interest	$0	$0	$1.0M	$720.0K
Cash paid (received) for income taxes, net of refunds	($54.0K)	($151.0K)	$8.7M	$8.1M
Property and equipment purchases in accounts payable	$716.0K	$223.0K	$1.0M	—
Operating lease assets obtained in exchange for lease obligations	$4.1M	$2.6M	$10.9M	—
Finance lease assets obtained in exchange for lease obligations	$3.6M	$672.0K	$21.6M	—

Innovex International Inc score and earnings-call analysis · All covered companies

Figures as reported in SEC filings. General information, not investment advice.