$INVX
Innovex International, Inc.

2023 Q4 Form 10-Q Financial Statement

#000095017023057180 Filed on November 01, 2023

View on sec.gov

Income Statement

Concept 2023 Q4 2023 Q3 2022 Q4
Revenue $126.3M $117.2M $96.81M
YoY Change 30.5% 33.02% 24.26%
Cost Of Revenue $91.69M $85.60M $66.57M
YoY Change 37.74% 30.27% 8.77%
Gross Profit $34.66M $31.64M $30.25M
YoY Change 14.58% 41.06% 80.96%
Gross Profit Margin 27.43% 26.99% 31.24%
Selling, General & Admin $29.83M $26.99M $26.88M
YoY Change 10.94% 20.34% -12.2%
% of Gross Profit 86.06% 85.31% 88.88%
Research & Development $2.987M $3.061M $2.699M
YoY Change 10.67% 15.73% -29.6%
% of Gross Profit 8.62% 9.67% 8.92%
Depreciation & Amortization $8.487M $7.899M $7.069M
YoY Change 20.06% 10.89% -8.47%
% of Gross Profit 24.49% 24.96% 23.37%
Operating Expenses $30.53M $26.99M $29.58M
YoY Change 3.2% 20.34% -14.14%
Operating Profit $4.127M -$6.071M $664.0K
YoY Change 521.54% -142.3% -103.74%
Interest Expense $1.067M $1.252M $1.560M
YoY Change -31.6% 855.73% -202.63%
% of Operating Profit 25.85% 234.94%
Other Income/Expense, Net -$62.00K
YoY Change
Pretax Income $5.707M -$3.759M $1.007M
YoY Change 466.73% -125.75% -101.41%
Income Tax $3.863M $3.275M $1.266M
% Of Pretax Income 67.69% 125.72%
Net Earnings $1.844M -$7.034M -$259.0K
YoY Change -811.97% -146.25% -99.59%
Net Earnings / Revenue 1.46% -6.0% -0.27%
Basic Earnings Per Share -$0.21
Diluted Earnings Per Share $0.05 -$0.21 -$0.01
COMMON SHARES
Basic Shares Outstanding 34.18M 34.18M 33.92M
Diluted Shares Outstanding 34.13M

Balance Sheet

Concept 2023 Q4 2023 Q3 2022 Q4
SHORT-TERM ASSETS
Cash & Short-Term Investments $213.2M $190.0M $297.0M
YoY Change -28.21% -39.8% -16.43%
Cash & Equivalents $187.3M $181.1M $264.8M
Short-Term Investments $25.91M $8.911M $32.23M
Other Short-Term Assets $9.699M $18.10M $34.36M
YoY Change -71.77% -63.4% -15.77%
Inventory $194.6M $183.3M $146.0M
Prepaid Expenses $14.12M $19.24M $19.87M
Receivables $135.6M $133.3M $91.50M
Other Receivables $0.00 $0.00 $0.00
Total Short-Term Assets $719.7M $709.0M $752.6M
YoY Change -4.37% -4.92% 0.94%
LONG-TERM ASSETS
Property, Plant & Equipment $217.6M $211.8M $181.3M
YoY Change 20.06% 16.79% -16.16%
Goodwill $16.70M $16.20M $0.00
YoY Change
Intangibles $41.94M $42.50M $23.35M
YoY Change 79.63% 78.08% -11.71%
Long-Term Investments $20.03M
YoY Change
Other Assets $6.906M $5.907M $5.949M
YoY Change 16.09% 3.38% 6.38%
Total Long-Term Assets $308.5M $298.5M $219.9M
YoY Change 40.26% 32.82% -16.97%
TOTAL ASSETS
Total Short-Term Assets $719.7M $709.0M $752.6M
Total Long-Term Assets $308.5M $298.5M $219.9M
Total Assets $1.028B $1.008B $972.5M
YoY Change 5.72% 3.82% -3.75%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $65.70M $50.46M $43.02M
YoY Change 52.71% 8.54% 22.1%
Accrued Expenses $38.48M $41.58M $31.65M
YoY Change 21.59% 30.59% -29.01%
Deferred Revenue $0.00
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $117.7M $106.7M $87.56M
YoY Change 34.43% 19.54% -6.52%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00 $0.00
YoY Change
Other Long-Term Liabilities $3.754M $3.425M $1.658M
YoY Change 126.42% 58.27% -14.23%
Total Long-Term Liabilities $3.754M $3.425M $1.658M
YoY Change 126.42% 58.27% -14.23%
TOTAL LIABILITIES
Total Short-Term Liabilities $117.7M $106.7M $87.56M
Total Long-Term Liabilities $3.754M $3.425M $1.658M
Total Liabilities $146.9M $137.1M $97.60M
YoY Change 50.54% 29.73% -13.87%
SHAREHOLDERS EQUITY
Retained Earnings $950.7M $948.9M $952.7M
YoY Change -0.21% -0.43% -2.09%
Common Stock $100.6M $98.51M $90.79M
YoY Change 10.84% 11.62% 12.64%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $881.3M $870.5M $874.9M
YoY Change
Total Liabilities & Shareholders Equity $1.028B $1.008B $972.5M
YoY Change 5.72% 3.82% -3.75%

Cashflow Statement

Concept 2023 Q4 2023 Q3 2022 Q4
OPERATING ACTIVITIES
Net Income $1.844M -$7.034M -$259.0K
YoY Change -811.97% -146.25% -99.59%
Depreciation, Depletion And Amortization $8.487M $7.899M $7.069M
YoY Change 20.06% 10.89% -8.47%
Cash From Operating Activities $26.13M $23.23M -$17.60M
YoY Change -248.44% 2129.75% -475.35%
INVESTING ACTIVITIES
Capital Expenditures $11.58M $5.430M $5.154M
YoY Change 124.78% -152.81% -349.95%
Acquisitions
YoY Change
Other Investing Activities -$5.512M -$71.35M -$4.487M
YoY Change 22.84% 872.89% -649.88%
Cash From Investing Activities -$17.10M -$76.78M -$9.641M
YoY Change 77.34% 335.84% 673.76%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -83.00K -19.00K -9.000K
YoY Change 822.22% -99.83% -99.96%
NET CHANGE
Cash From Operating Activities 26.13M 23.23M -17.60M
Cash From Investing Activities -17.10M -76.78M -9.641M
Cash From Financing Activities -83.00K -19.00K -9.000K
Net Change In Cash 8.951M -53.57M -27.25M
YoY Change -132.84% 93.27% 38.97%
FREE CASH FLOW
Cash From Operating Activities $26.13M $23.23M -$17.60M
Capital Expenditures $11.58M $5.430M $5.154M
Free Cash Flow $14.55M $17.80M -$22.76M
YoY Change -163.92% 57.21% -437.06%

Facts In Submission

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us-gaap Other Comprehensive Income Loss Foreign Currency Transaction And Translation Adjustment Net Of Tax
OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax
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us-gaap Other Comprehensive Income Loss Foreign Currency Transaction And Translation Adjustment Net Of Tax
OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax
-19829000
CY2023Q3 us-gaap Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
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CY2022Q3 us-gaap Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
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us-gaap Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
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us-gaap Comprehensive Income Net Of Tax
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us-gaap Net Income Loss
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us-gaap Net Income Loss
NetIncomeLoss
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us-gaap Depreciation Depletion And Amortization
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us-gaap Depreciation Depletion And Amortization
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us-gaap Share Based Compensation
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us-gaap Share Based Compensation
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us-gaap Restructuring Costs And Asset Impairment Charges
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us-gaap Restructuring Costs And Asset Impairment Charges
RestructuringCostsAndAssetImpairmentCharges
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us-gaap Gain Loss On Disposition Of Assets
GainLossOnDispositionOfAssets
8412000
us-gaap Gain Loss On Disposition Of Assets
GainLossOnDispositionOfAssets
17770000
drq Business Acqusition Cost Under Operating Activities
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drq Business Acqusition Cost Under Operating Activities
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us-gaap Deferred Income Tax Expense Benefit
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us-gaap Deferred Income Tax Expense Benefit
DeferredIncomeTaxExpenseBenefit
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us-gaap Increase Decrease In Accounts Receivable
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us-gaap Increase Decrease In Accounts Receivable
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drq Increase Decrease In Unbilled Receivable
IncreaseDecreaseInUnbilledReceivable
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drq Increase Decrease In Unbilled Receivable
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us-gaap Increase Decrease In Inventories
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us-gaap Increase Decrease In Inventories
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us-gaap Increase Decrease In Other Operating Assets
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us-gaap Increase Decrease In Accounts Payable And Accrued Liabilities
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us-gaap Other Operating Activities Cash Flow Statement
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us-gaap Net Cash Provided By Used In Operating Activities
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us-gaap Payments To Acquire Property Plant And Equipment
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us-gaap Proceeds From Sale Of Machinery And Equipment
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us-gaap Payments To Acquire Businesses Net Of Cash Acquired
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us-gaap Payments To Acquire Businesses Net Of Cash Acquired
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us-gaap Payments To Acquire Short Term Investments
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us-gaap Payments To Acquire Short Term Investments
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us-gaap Proceeds From Maturities Prepayments And Calls Of Shortterm Investments
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us-gaap Net Cash Provided By Used In Investing Activities
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us-gaap Net Cash Provided By Used In Investing Activities
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us-gaap Payments For Repurchase Of Common Stock
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us-gaap Payments For Repurchase Of Common Stock
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ProceedsFromPaymentsForOtherFinancingActivities
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us-gaap Proceeds From Payments For Other Financing Activities
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us-gaap Net Cash Provided By Used In Financing Activities
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us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
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us-gaap Effect Of Exchange Rate On Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
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us-gaap Effect Of Exchange Rate On Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
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us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
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us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
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CY2022Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
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CY2021Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
355451000
CY2023Q3 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
181072000
CY2022Q3 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
290279000
CY2023Q2 us-gaap Stockholders Equity
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CY2023Q3 us-gaap Other Comprehensive Income Loss Foreign Currency Transaction And Translation Adjustment Before Tax
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-4489000
CY2023Q3 us-gaap Net Income Loss
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CY2023Q3 us-gaap Comprehensive Income Net Of Tax
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CY2023Q3 us-gaap Employee Benefits And Share Based Compensation
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CY2023Q3 us-gaap Stockholders Equity
StockholdersEquity
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CY2022Q4 us-gaap Stockholders Equity
StockholdersEquity
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us-gaap Other Comprehensive Income Loss Foreign Currency Transaction And Translation Adjustment Before Tax
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us-gaap Net Income Loss
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us-gaap Comprehensive Income Net Of Tax
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us-gaap Employee Benefits And Share Based Compensation
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CY2023Q3 us-gaap Stockholders Equity
StockholdersEquity
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CY2022Q2 us-gaap Stockholders Equity
StockholdersEquity
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CY2022Q3 us-gaap Other Comprehensive Income Loss Foreign Currency Transaction And Translation Adjustment Before Tax
OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentBeforeTax
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CY2022Q3 us-gaap Net Income Loss
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CY2022Q3 us-gaap Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
2802000
CY2022Q3 us-gaap Treasury Stock Shares Acquired
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CY2022Q3 us-gaap Stock Repurchased And Retired During Period Value
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CY2022Q3 us-gaap Employee Benefits And Share Based Compensation
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CY2022Q3 us-gaap Stockholders Equity Other
StockholdersEquityOther
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CY2022Q3 us-gaap Stockholders Equity
StockholdersEquity
862916000
CY2021Q4 us-gaap Stockholders Equity
StockholdersEquity
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us-gaap Other Comprehensive Income Loss Foreign Currency Transaction And Translation Adjustment Before Tax
OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentBeforeTax
-19829000
us-gaap Net Income Loss
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us-gaap Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
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us-gaap Treasury Stock Shares Acquired
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us-gaap Stock Repurchased And Retired During Period Value
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us-gaap Employee Benefits And Share Based Compensation
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us-gaap Stockholders Equity Other
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CY2022Q3 us-gaap Stockholders Equity
StockholdersEquity
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CY2023Q1 us-gaap Number Of Reportable Segments
NumberOfReportableSegments
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CY2023Q1 drq Number Of Geographic Segments
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us-gaap Prior Period Reclassification Adjustment Description
PriorPeriodReclassificationAdjustmentDescription
<p style="text-indent:2.4%;font-size:10pt;margin-top:12pt;font-family:Times New Roman;margin-bottom:0;text-align:left;"><span style="color:#000000;white-space:pre-wrap;font-weight:normal;font-size:10pt;font-family:Times New Roman;font-style:italic;min-width:fit-content;">Reclassifications</span></p><p style="text-indent:4.133%;font-size:10pt;margin-top:6pt;font-family:Times New Roman;margin-bottom:0;text-align:justify;"><span style="color:#000000;white-space:pre-wrap;font-weight:normal;font-size:10pt;font-family:Times New Roman;min-width:fit-content;">We reclassified approximately $</span><span style="font-size:10pt;font-family:Times New Roman;color:#000000;white-space:pre-wrap;font-weight:normal;font-size:10pt;font-family:Times New Roman;min-width:fit-content;">5.5</span><span style="color:#000000;white-space:pre-wrap;font-weight:normal;font-size:10pt;font-family:Times New Roman;min-width:fit-content;"> million of accrued bonus related to our short-term incentive plan for the year ended December 31, 2022, from other accrued liabilities to accrued compensation to conform to our current year presentation. These reclassifications did not have an impact on our consolidated statements of income (loss), consolidated balance sheets, consolidated statements of comprehensive income (loss), consolidated statements of stockholders’ equity and consolidated statements of cash flows.</span></p>
CY2022Q4 us-gaap Accrued Bonuses Current
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us-gaap Use Of Estimates
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<p style="text-indent:2.4%;font-size:10pt;margin-top:12pt;font-family:Times New Roman;margin-bottom:0;text-align:left;"><span style="color:#000000;white-space:pre-wrap;font-weight:normal;font-size:10pt;font-family:Times New Roman;font-style:italic;min-width:fit-content;">Use of Estimates</span></p><span style="color:#000000;white-space:pre-wrap;font-weight:normal;font-size:10pt;font-family:Times New Roman;min-width:fit-content;">The preparation of financial statements in conformity with accounting principles generally accepted in the United States of America requires management to make estimates and assumptions that affect reported amounts of assets and liabilities as of the date of the financial statements and reported amounts of revenues and expenses during the reporting period. Actual results could differ materially from those estimates. Some of the Company’s more significant estimates are those affected by critical accounting policies for revenue recognition and asset recoverability tests and inventories</span>
us-gaap Business Combination Acquisition Related Costs
BusinessCombinationAcquisitionRelatedCosts
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CY2022Q3 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
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us-gaap Operating Income Loss
OperatingIncomeLoss
2971000
us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
3842000
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drq Amount To Maintain Cash Collateral Account For Letters Of Credit
AmountToMaintainCashCollateralAccountForLettersOfCredit
the outstanding letters of credit plus 5% at all times
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CY2022Q4 us-gaap Assets
Assets
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CY2022Q4 us-gaap Stockholders Equity
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CY2022Q3 drq Restructuring And Other Charges
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CY2022Q1 us-gaap Stock Repurchase Program Authorized Amount1
StockRepurchaseProgramAuthorizedAmount1
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CY2023Q3 us-gaap Treasury Stock Shares Acquired
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us-gaap Treasury Stock Shares Acquired
TreasuryStockSharesAcquired
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CY2022Q3 us-gaap Treasury Stock Shares Acquired
TreasuryStockSharesAcquired
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CY2022Q3 us-gaap Treasury Stock Acquired Average Cost Per Share
TreasuryStockAcquiredAverageCostPerShare
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CY2022Q3 us-gaap Treasury Stock Value Acquired Cost Method
TreasuryStockValueAcquiredCostMethod
11100000
us-gaap Treasury Stock Shares Acquired
TreasuryStockSharesAcquired
888197
us-gaap Treasury Stock Acquired Average Cost Per Share
TreasuryStockAcquiredAverageCostPerShare
23.41
us-gaap Treasury Stock Value Acquired Cost Method
TreasuryStockValueAcquiredCostMethod
20800000
CY2022Q3 us-gaap Operating Income Loss
OperatingIncomeLoss
12431000
CY2022Q3 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
12679000
CY2022Q3 us-gaap Net Income Loss
NetIncomeLoss
13289000
CY2022Q3 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
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CY2023Q3 us-gaap Weighted Average Number Of Shares Outstanding Basic
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CY2022Q3 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
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us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
34130000
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
33948000
CY2023Q3 us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
0
CY2022Q3 us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
284000
us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
0
us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
0
CY2023Q3 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
34132000
CY2022Q3 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
34232000
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
34130000
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
33948000
CY2023Q3 us-gaap Business Combination Pro Forma Information Revenue Of Acquiree Since Acquisition Date Actual
BusinessCombinationProFormaInformationRevenueOfAcquireeSinceAcquisitionDateActual
15500000
CY2023Q3 us-gaap Business Combination Pro Forma Information Earnings Or Loss Of Acquiree Since Acquisition Date Actual
BusinessCombinationProFormaInformationEarningsOrLossOfAcquireeSinceAcquisitionDateActual
1600000
CY2023Q3 us-gaap Business Combination Acquisition Related Costs
BusinessCombinationAcquisitionRelatedCosts
5400000
CY2023Q3 us-gaap Business Combination Contingent Consideration Liability
BusinessCombinationContingentConsiderationLiability
3460000
CY2022Q4 us-gaap Business Combination Contingent Consideration Liability
BusinessCombinationContingentConsiderationLiability
0
CY2023Q3 us-gaap Liabilities Fair Value Disclosure
LiabilitiesFairValueDisclosure
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CY2022Q4 us-gaap Liabilities Fair Value Disclosure
LiabilitiesFairValueDisclosure
0
CY2023Q2 us-gaap Fair Value Measurement With Unobservable Inputs Reconciliations Recurring Basis Liability Value
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CY2022Q2 us-gaap Fair Value Measurement With Unobservable Inputs Reconciliations Recurring Basis Liability Value
FairValueMeasurementWithUnobservableInputsReconciliationsRecurringBasisLiabilityValue
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CY2022Q4 us-gaap Fair Value Measurement With Unobservable Inputs Reconciliations Recurring Basis Liability Value
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CY2021Q4 us-gaap Fair Value Measurement With Unobservable Inputs Reconciliations Recurring Basis Liability Value
FairValueMeasurementWithUnobservableInputsReconciliationsRecurringBasisLiabilityValue
0
CY2023Q3 us-gaap Business Combination Contingent Consideration Arrangements Change In Amount Of Contingent Consideration Asset1
BusinessCombinationContingentConsiderationArrangementsChangeInAmountOfContingentConsiderationAsset1
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CY2022Q3 us-gaap Business Combination Contingent Consideration Arrangements Change In Amount Of Contingent Consideration Asset1
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us-gaap Business Combination Contingent Consideration Arrangements Change In Amount Of Contingent Consideration Asset1
BusinessCombinationContingentConsiderationArrangementsChangeInAmountOfContingentConsiderationAsset1
3571000
us-gaap Business Combination Contingent Consideration Arrangements Change In Amount Of Contingent Consideration Asset1
BusinessCombinationContingentConsiderationArrangementsChangeInAmountOfContingentConsiderationAsset1
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CY2023Q3 us-gaap Payment For Contingent Consideration Liability Financing Activities
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CY2022Q3 us-gaap Payment For Contingent Consideration Liability Financing Activities
PaymentForContingentConsiderationLiabilityFinancingActivities
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us-gaap Payment For Contingent Consideration Liability Financing Activities
PaymentForContingentConsiderationLiabilityFinancingActivities
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us-gaap Payment For Contingent Consideration Liability Financing Activities
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CY2023Q3 us-gaap Liabilities Fair Value Adjustment
LiabilitiesFairValueAdjustment
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CY2022Q3 us-gaap Liabilities Fair Value Adjustment
LiabilitiesFairValueAdjustment
0
us-gaap Liabilities Fair Value Adjustment
LiabilitiesFairValueAdjustment
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us-gaap Liabilities Fair Value Adjustment
LiabilitiesFairValueAdjustment
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CY2023Q3 us-gaap Goodwill Translation And Purchase Accounting Adjustments
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CY2022Q3 us-gaap Goodwill Translation And Purchase Accounting Adjustments
GoodwillTranslationAndPurchaseAccountingAdjustments
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us-gaap Goodwill Translation And Purchase Accounting Adjustments
GoodwillTranslationAndPurchaseAccountingAdjustments
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us-gaap Goodwill Translation And Purchase Accounting Adjustments
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CY2023Q3 us-gaap Fair Value Measurement With Unobservable Inputs Reconciliations Recurring Basis Liability Value
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3460000
CY2022Q3 us-gaap Fair Value Measurement With Unobservable Inputs Reconciliations Recurring Basis Liability Value
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CY2023Q3 us-gaap Fair Value Measurement With Unobservable Inputs Reconciliations Recurring Basis Liability Value
FairValueMeasurementWithUnobservableInputsReconciliationsRecurringBasisLiabilityValue
3460000
CY2022Q3 us-gaap Fair Value Measurement With Unobservable Inputs Reconciliations Recurring Basis Liability Value
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0
CY2022Q4 us-gaap Accounts Receivable Net Current
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CY2022Q4 us-gaap Other Assets Current
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us-gaap Net Income Loss
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us-gaap Earnings Per Share Basic
EarningsPerShareBasic
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us-gaap Earnings Per Share Diluted
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CY2022Q4 us-gaap Contract With Customer Asset Net
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us-gaap Contract With Customer Asset Cumulative Catch Up Adjustment To Revenue Change In Measure Of Progress
ContractWithCustomerAssetCumulativeCatchUpAdjustmentToRevenueChangeInMeasureOfProgress
147250000
us-gaap Contract With Customer Asset Reclassified To Receivable
ContractWithCustomerAssetReclassifiedToReceivable
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CY2023Q3 us-gaap Contract With Customer Asset Net
ContractWithCustomerAssetNet
148419000
CY2023Q3 us-gaap Revenue Remaining Performance Obligation
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41800000
CY2023Q3 us-gaap Revenue Remaining Performance Obligation Percentage
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CY2023Q3 us-gaap Revenue Remaining Performance Obligation Expected Timing Of Satisfaction Period1
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P12M
CY2023Q3 us-gaap Revenue Remaining Performance Obligation Percentage
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CY2023Q3 us-gaap Asset Impairment Charges
AssetImpairmentCharges
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CY2022Q3 us-gaap Asset Impairment Charges
AssetImpairmentCharges
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us-gaap Asset Impairment Charges
AssetImpairmentCharges
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us-gaap Asset Impairment Charges
AssetImpairmentCharges
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CY2023Q3 us-gaap Other Restructuring Costs
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CY2022Q3 us-gaap Other Restructuring Costs
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us-gaap Other Restructuring Costs
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CY2023Q3 us-gaap Inventory Raw Materials And Supplies
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CY2022Q4 us-gaap Inventory Raw Materials And Supplies
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CY2023Q3 us-gaap Inventory Work In Process
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CY2022Q4 us-gaap Inventory Work In Process
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CY2023Q3 us-gaap Inventory Finished Goods
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CY2022Q4 us-gaap Inventory Finished Goods
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CY2023Q3 us-gaap Inventory Net
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CY2022Q4 us-gaap Inventory Net
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CY2023Q3 drq Reduction In Raw Materials By Reserve
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CY2023Q3 drq Reduction In Work In Progress By Reserve
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CY2023Q3 drq Reduction In Finished Goods By Reserve
ReductionInFinishedGoodsByReserve
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CY2022Q4 drq Reduction In Raw Materials By Reserve
ReductionInRawMaterialsByReserve
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CY2022Q4 drq Reduction In Work In Progress By Reserve
ReductionInWorkInProgressByReserve
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CY2022Q4 drq Reduction In Finished Goods By Reserve
ReductionInFinishedGoodsByReserve
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CY2023Q3 us-gaap Severance Costs1
SeveranceCosts1
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CY2022Q3 us-gaap Severance Costs1
SeveranceCosts1
0
us-gaap Severance Costs1
SeveranceCosts1
504000
us-gaap Severance Costs1
SeveranceCosts1
32000
us-gaap Other Restructuring Costs
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CY2023Q3 us-gaap Restructuring Settlement And Impairment Provisions
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CY2022Q3 us-gaap Restructuring Settlement And Impairment Provisions
RestructuringSettlementAndImpairmentProvisions
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us-gaap Restructuring Settlement And Impairment Provisions
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3375000
us-gaap Restructuring Settlement And Impairment Provisions
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9898000
CY2022Q4 us-gaap Restructuring Reserve
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3802000
us-gaap Restructuring And Related Cost Incurred Cost
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us-gaap Restructuring Reserve Accrual Adjustment1
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drq Accrued Restructuring And Other Charges
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CY2023Q3 us-gaap Restructuring Reserve
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902000
CY2022Q4 us-gaap Goodwill
Goodwill
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us-gaap Goodwill Acquired During Period
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16800000
us-gaap Goodwill Impairment Loss
GoodwillImpairmentLoss
0
us-gaap Goodwill Foreign Currency Translation Gain Loss
GoodwillForeignCurrencyTranslationGainLoss
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CY2023Q3 us-gaap Goodwill
Goodwill
16200000
CY2023Q3 us-gaap Finite Lived Intangible Assets Gross
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61536000
CY2023Q3 us-gaap Finite Lived Intangible Assets Accumulated Amortization
FiniteLivedIntangibleAssetsAccumulatedAmortization
19046000
CY2023Q3 drq Finite Lived Intangible Assets Accumulated Foreign Currency Translation Gain Loss
FiniteLivedIntangibleAssetsAccumulatedForeignCurrencyTranslationGainLoss
14000
CY2023Q3 us-gaap Finite Lived Intangible Assets Net
FiniteLivedIntangibleAssetsNet
42504000
CY2022Q4 us-gaap Finite Lived Intangible Assets Gross
FiniteLivedIntangibleAssetsGross
40499000
CY2022Q4 us-gaap Finite Lived Intangible Assets Accumulated Amortization
FiniteLivedIntangibleAssetsAccumulatedAmortization
16826000
CY2022Q4 drq Finite Lived Intangible Assets Accumulated Foreign Currency Translation Gain Loss
FiniteLivedIntangibleAssetsAccumulatedForeignCurrencyTranslationGainLoss
-325000
CY2022Q4 us-gaap Finite Lived Intangible Assets Net
FiniteLivedIntangibleAssetsNet
23348000
drq Number Of Geographic Segments
NumberOfGeographicSegments
3
CY2023Q3 us-gaap Revenues
Revenues
117244000
CY2022Q3 us-gaap Revenues
Revenues
88141000
us-gaap Revenues
Revenues
297716000
us-gaap Revenues
Revenues
265256000
CY2023Q3 us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
7899000
CY2022Q3 us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
7123000
us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
21837000
us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
22352000
CY2023Q3 us-gaap Operating Income Loss
OperatingIncomeLoss
-6071000
CY2022Q3 us-gaap Operating Income Loss
OperatingIncomeLoss
12431000
us-gaap Operating Income Loss
OperatingIncomeLoss
723000
us-gaap Operating Income Loss
OperatingIncomeLoss
2971000
CY2023Q3 us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
-0.871
us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
1.16
CY2022Q3 us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
-0.048
us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
1.317
CY2023Q3 us-gaap Proceeds From Income Tax Refunds
ProceedsFromIncomeTaxRefunds
16800000
us-gaap Proceeds From Income Tax Refunds
ProceedsFromIncomeTaxRefunds
17200000
CY2023Q3 us-gaap Income Taxes Paid Net
IncomeTaxesPaidNet
15500000
CY2023Q3 us-gaap Income Tax Examination Interest Accrued
IncomeTaxExaminationInterestAccrued
1300000
CY2023Q3 us-gaap Deferred Tax Liabilities Undistributed Foreign Earnings
DeferredTaxLiabilitiesUndistributedForeignEarnings
1800000

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