0001193125-26-095973 | 10-K | XBRL Viewer | Drilling Tools International Corp

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INCOME TAXES - Schedule of Income (Loss) Before Provision for (Benefit From) Income Taxes (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2025	Dec. 31, 2024
Income Tax Disclosure [Abstract]
Domestic	$ 988	$ 1,274
International	(3,844)	1,710
Income (loss) before income tax expense	$ (2,856)	$ 2,984

- Definition

Amount of income (loss) from continuing operations, including income (loss) from equity method investments, before deduction of income tax expense (benefit), and income (loss) attributable to noncontrolling interest.

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+ Details

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - Schedule of Allowance For Credit Losses (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2025	Dec. 31, 2024
Accounts, Notes, Loans and Financing Receivable [Line Items]
Beginning balance	$ (1,690)	$ (1,458)
Provisions for expected credit losses	(595)	(439)
Foreign currency adjustments	(130)
Utilization of allowance for credit losses	213	207
Ending balance	$ (2,202)	$ (1,690)

Insider Trading Arrangements	3 Months Ended
Insider Trading Arrangements	Dec. 31, 2025
Trading Arrangements, by Individual
Rule 10b5-1 Arrangement Adopted	false
Non-Rule 10b5-1 Arrangement Adopted	false
Rule 10b5-1 Arrangement Terminated	false
Non-Rule 10b5-1 Arrangement Terminated	false

Pay vs Performance Disclosure - USD ($) $ in Thousands	12 Months Ended
Pay vs Performance Disclosure - USD ($) $ in Thousands	Dec. 31, 2025	Dec. 31, 2024
Pay vs Performance Disclosure
Net Income (Loss)	$ (3,761)	$ 3,014

- Definition

The portion of profit or loss for the period, net of income taxes, which is attributable to the parent.

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+ Details

RELATED PARTY TRANSACTIONS (Details) - USD ($) $ / shares in Units, $ in Millions		12 Months Ended
	Jul. 31, 2025	Dec. 31, 2025	Dec. 31, 2024	Jul. 31, 2024
Board of Directors
Related Party Transaction [Line Items]
Director fees paid		$ 0.5	$ 0.6
Hicks Holdings Operating LLC
Related Party Transaction [Line Items]
Management fees paid to shareholder		$ 0.8	0.8
Tronco
Related Party Transaction [Line Items]
Face value of note				$ 6.5
Average stock price	$ 3.2	$ 3.2
Interest rate		3.00%
Discount on note		$ (1.0)
Interest income recognized		0.2	0.2
Carrying value of note		$ 5.4	$ 5.2
Tronco \| Fifth Anniversary
Related Party Transaction [Line Items]
Average stock price		$ 3.2
Tronco \| Sixth Anniversary
Related Party Transaction [Line Items]
Average stock price		$ 3.2

GOODWILL - (Details) $ in Thousands		12 Months Ended
GOODWILL - (Details) $ in Thousands	Jan. 01, 2025 Segment	Dec. 31, 2025 USD ($) Segment	Dec. 31, 2024 USD ($)
Goodwill [Abstract]
Number of operating segment	2	2
Number of reportable segment		2
Goodwill, impairment loss \| $		$ 1,901	$ 0

- Definition

Amount of impairment loss from asset representing future economic benefit arising from other asset acquired in business combination or from joint venture formation or both, that is not individually identified and separately recognized.

+ References + Details

NOTES PAYABLE, NET (Details) $ in Millions	Dec. 31, 2025 USD ($)
Debt Instrument [Line Items]
Unsecured promissory note	$ 4.1

- Definition

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

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+ Details

SEGMENT INFORMATION - Additional Information (Details) - Segment		12 Months Ended
	Jan. 01, 2025	Dec. 31, 2025
Segment Reporting [Abstract]
Segment Reporting, Factors Used to Identify Entity's Reportable Segments		Operating segments are identified as components of an enterprise about which discrete financial information is available for evaluation by the CODM in deciding resource allocation and assessing performance.
Segment Reporting, CODM, Individual Title and Position or Group Name [Extensible Enumeration]		srt:ChiefExecutiveOfficerMember
Number of operating segment	2	2
Number of reportable segment		2
Segment Reporting Information, Description of Products and Services		The Company’s two operating segments derives revenues from customers by providing oilfield equipment and services to operators in wellbore construction and casing installation.
Segment Reporting, Expense Information Used by CODM, Description		The CODM uses these metrics in the annual budget and forecasting process. The CODM considers budget-to-actual variances on a quarterly basis to forecast future performance, adjust the budget, and make decisions about the allocation of operating and capital resources to the segment.
Segment Reporting, CODM, Profit (Loss) Measure, How Used, Description		The CODM assesses performance for each segment individually and decides how to allocate resources by using Segment EBITDA, which is defined as net income (loss) excluding interest income, interest expense, other operating and non-operating expense, net, income tax benefit (expense), depreciation and amortization, and unallocated corporate general and administrative expenses, including stock-based compensation and monitoring fees. Additionally, the Company’s CODM total segment assets and capital expenditures by segment regularly in making operational decisions.

INCOME TAXES - Schedule of Income Taxes paid (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2025	Dec. 31, 2024
Income Tax Paid, by Individual Jurisdiction [Line Items]
Federal	$ 0	$ 2,663
State:
Total State	627	722
Foreign:
Total cash paid for income tax	1,424	3,385
New Mexico
State:
Total State	0	175
Texas
State:
Total State	495	435
Louisiana
State:
Total State	70	22
Other
State:
Total State	62	90
Canada
Foreign:
Foreign	$ 797	$ 0

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - Summary of Asset and Liabilities Measured at Fair Value (Details) - USD ($)	Dec. 31, 2025	Dec. 31, 2024
Level 1
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Total assets at fair value	$ 0	$ 0
Level 2
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Total assets at fair value	0	0
Level 3
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Total assets at fair value	$ 0	$ 0

PROPERTY, PLANT AND EQUIPMENT, NET

12 Months Ended

Dec. 31, 2025

Property, Plant and Equipment [Abstract]

PROPERTY, PLANT AND EQUIPMENT, NET

NOTE 5 – PROPERTY, PLANT AND EQUIPMENT, NET

The following table shows the component of property, plant and equipment, net (in thousands):


	Estimated Useful Lives (in Years)	December 31, 2025			December 31, 2024
Rental tools and equipment	5-10	$	215,596		$	205,939
Buildings and improvements	5-40		7,876			7,074
Office furniture, fixtures and equipment	3-5		3,153			2,507
Transportation and equipment	3-5		691			715
Total property, plant and equipment			227,317			216,234
Less: accumulated depreciation			(156,382	)		(142,203	)
Property, plant and equipment, net (excluding construction in progress)			70,935			74,031
Construction in progress			1,667			1,540
Property, plant and equipment, net		$	72,602		$	75,571

Total depreciation expense for the year ended December 31, 2025 and December 31, 2024 was approximately $24.6 million and $21.5 million, respectively. The Company has not acquired any property, plant and equipment under capital leases.

EARNINGS PER SHARE

12 Months Ended

Dec. 31, 2025

Earnings Per Share [Abstract]

EARNINGS PER SHARE

NOTE 16 – EARNINGS PER SHARE

Basic earnings per share is computed using the weighted-average number of common shares outstanding for the period. Diluted earnings per share is computed using the weighted-average number of common shares outstanding for the period plus dilutive potential common shares, including performance share awards, using the treasury stock method. Performance share awards are included based on the number of shares that would be issued as if the end of the reporting period was the end of the performance period and the result was dilutive.

The following table sets forth the computation of the Company’s basic and diluted net earnings per share for the years ended December 31, 2025 and 2024 (in thousands, except share and per share data):


	Year Ended December 31,
	2025			2024
Numerator:
Net income (loss) attributable to Drilling Tools International stockholders	$	(3,761	)	$	3,014
Denominator
Weighted-average common shares used in computing earnings per share — basic		35,533,268			31,938,847
Weighted-average effect of potentially dilutive securities:
Effect of potentially dilutive stock options		—			311,277
Effect of potentially dilutive performance-based stock options		—			41,033
Effect of potentially dilutive restricted stock units		—			17,022
Weighted-average common shares outstanding — diluted		35,533,268			32,308,179
Earnings per share — basic	$	(0.11	)	$	0.09
Earnings per share — diluted	$	(0.11	)	$	0.09

As of December 31, 2025 and 2024, the Company’s potentially dilutive securities consisted of options to purchase common stock as well as restricted stock units. The Company excluded the following potential common shares, presented based on amounts outstanding at each period end, from the computation of diluted net income per share for the periods presented because including them would have had an anti-dilutive effect:


	Year Ended December 31,
	2025		2024
Performance-based options outstanding		534,063		—
Stock options outstanding		4,429,563		140,135
Restricted stock units outstanding		1,022,451		—
Total		5,986,077		140,135

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Tables)

12 Months Ended

Dec. 31, 2025

Accounting Policies [Abstract]

Schedule of Changes in Contract Assets

The changes in contract assets for the year ended December 31, 2025 and 2024 were as follows (in thousands):


Balance at December 31, 2023	$	4,157
Revenue recognized from contract assets		55,814
Conversion of contract assets into accounts receivable		(54,522	)
Balance at December 31, 2024	$	5,449
Revenue recognized from contract assets		42,598
Conversion of contract assets into accounts receivable		(40,851	)
Balance at December 31, 2025		7,196

Schedule of Allowance For Credit Losses

The changes in the allowance for credit losses for the year ended December 31, 2025 and 2024 were as follows (in thousands):


Balance at December 31, 2023	$	(1,458	)
Provisions for expected credit losses		(439	)
Utilization of allowance for credit losses		207
Balance at December 31, 2024	$	(1,690	)
Provisions for expected credit losses		(595	)
Foreign currency adjustments		(130	)
Utilization of allowances for credit losses		213
Balance at December 31, 2025	$	(2,202	)

SUPPLEMENTAL CASH FLOWS (Tables)

12 Months Ended

Dec. 31, 2025

Supplemental Cash Flow Elements [Abstract]

Summary of Cash Flows Related to Income Taxes, Interest, Leases, Inventory Purchases and Capital Expenditures Included in Accounts Payable, Assumed Liabilities Acquired in a Business Combination and Other Non-cash Investing and Financing Activities

Cash flows related to income taxes, interest, leases, inventory purchases and capital expenditures included in accounts payable, assumed liabilities acquired in a business combination and other non-cash investing and financing activities were as follows:


	Year Ended December 31,
	2025		2024
Supplemental cash flow information:
Cash paid for interest	$	4,249	$	2,673
Operating cash flows from operating leases		6,635		6,228
Non-cash investing and financing activities:
Measurement period adjustment related to EDP Acquisition		1,671		—
ROU assets obtained in exchange for lease liabilities		6,806		5,737
Fair value of CTG liabilities assumed in CTG Acquisition		—		3,162
Fair value of SDPI liabilities assumed in SDPI Acquisition		—		6,246
Fair value of EDP liabilities assumed in EDP Acquisition		—		1,769
Fair value of Titan liabilities assumed in Titan Acquisition		4,045		—
Non-cash consideration in SDPI Acquisition		—		27,024
Non-cash consideration in Titan Acquisition		4,597		—
Purchases of inventory included in accounts payable and accrued expenses and other current liabilities		1,051		1,176
Purchases of property and equipment included in accounts payable and accrued expenses and other current liabilities		554		126
Non-cash recovery of note receivable		—		453
Net exercise of stock options		—		254
Shares withheld from exercise of stock options for payment of taxes		—		36

GOODWILL (Tables)

12 Months Ended

Dec. 31, 2025

Goodwill [Abstract]

Schedule of Change in Carrying Amount of Goodwill

The change in carrying amount of goodwill for the years ended December 31, 2024 was as follows (in thousands):


	Total
Net balance as of December 31, 2023	$	—
Additions due to business combinations		12,378
Impairments		—
Foreign currency translation		(231	)
Net balance as of December 31, 2024	$	12,147
Additions due to business combinations		2,335
Measurement period adjustments		1,670
Impairments		(1,901	)
Foreign currency translation		365
Net balance as of December 31, 2025	$	14,616

Change in Reporting Units and Goodwill Impairment

On January 1, 2025, the Company realigned its reportable segments to correspond with changes to its operating model, management structure, and organizational responsibilities. We bifurcated results into two segments: Eastern Hemisphere and Western Hemisphere. As a result, we split into four reporting units and reallocated goodwill among our affected reporting units on a relative fair value basis. We performed a goodwill impairment assessment immediately before and after our business reorganization. We concluded based on our pre-reorganization impairment test that goodwill was not impaired. As a result of the post-reorganization impairment test, we recognized a non-cash goodwill impairment loss of $1.9 million during the year ended December 31, 2025, related to our Diamond Products and Deep Casing reporting units as the estimated fair values of the new reporting units was lower than the related carrying value.

- Definition

Tabular disclosure of goodwill by reportable segment and in total which includes a rollforward schedule.

+ References

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Reference 3: http://www.xbrl.org/2009/role/commonPracticeRef
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+ Details

OTHER OPERATING AND NON-OPERATING EXPENSES, NET (Tables)

12 Months Ended

Dec. 31, 2025

Other Income and Expenses [Abstract]

Summary of Components of Other Operating and Non-operating Expenses, Net

The following table shows the components of other operating and non-operating expenses, net for the years ended December 31, 2025 and 2024 (in thousands):


	Year Ended December 31, 2025			Year Ended December 31, 2024
Transaction fees	$	1,155		$	7,036
Unrealized loss on foreign currency		541			—
Restructuring charges		1,814			—
Interest income		(398	)		(197	)
Software implementation		568			—
Other, net		974			664
Other operating and non-operating expenses, net	$	4,654		$	7,503

Debt (Tables)

12 Months Ended

Dec. 31, 2025

Debt Disclosure [Abstract]

Schedule of Future Maturities of Long Term Debt

As of December 31, 2025, the future maturities of long-term debt consisted of the following (in thousands):


2026	$	5,989
2027		6,071
2028		6,159
2029		27,597
Thereafter		—
Total long term debt	$	45,816

LEASES (Tables)

12 Months Ended

Dec. 31, 2025

Leases [Abstract]

Summary of Components of Lease Expense

For the year ended December 31, 2025 and December 31, 2024, the components of the Company’s lease expense were as follows (in thousands):


	Year Ended December 31, 2025		Year Ended December 31, 2024
Operating Lease Cost	$	6,995	$	6,494
Short-term Lease Cost		126		136
Variable Lease Cost		440		382
Total Lease Cost	$	7,561	$	7,012

Summary of Supplemental Balance Sheet Information Related to Leases

Supplemental balance sheet information related to leases was as follows (in thousands):


	Year Ended December 31, 2025			Year Ended December 31, 2024
Weighted-average remaining lease term (in years)		7.85			7.11
Weighted average discount rate		8.20	%		7.57	%

Summary of Future Undiscounted Cash Flows

Future undiscounted cash flows for each of the next five years and thereafter and reconciliation to the lease liabilities recognized on the consolidated balance sheet as of December 31, 2025 were as follows (in thousands):


2026	$	6,150
2027		5,036
2028		4,431
2029		3,655
2030		3,514
Thereafter		12,762
Total lease payments	$	35,548
Less: imputed interest		(9,719	)
Present value of lease liabilities	$	25,829

INCOME TAXES - Schedule of Deferred Tax Assets and Deferred Tax Liabilities (Details) - USD ($) $ in Thousands	Dec. 31, 2025	Dec. 31, 2024
Deferred tax assets
Net operating loss carryforward	$ 8,213	$ 3,488
Allowance for doubtful accounts	296	321
Share-based compensation	2,262	1,800
Bonus accrual	151	70
Inventory	200	220
Intangible assets	0	1,815
Federal credits	784	3,252
Other	6,073	2,681
Gross deferred tax assets	17,979	13,647
Valuation allowance	(4,228)	(3,019)
Net deferred tax assets	13,751	10,628
Deferred tax liabilities
Depreciation on property, plant, and equipment	(10,750)	(10,902)
Withholding tax on unremitted earnings	(247)	(431)
Intangible assets	(4,277)	0
Other	(5,643)	(5,221)
Deferred tax liabilities	(20,917)	(16,554)
Net deferred liabilities	$ (7,167)	$ (5,926)

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

12 Months Ended

Dec. 31, 2025

Accounting Policies [Abstract]

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

NOTE 1 – SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

Organization and Structure

Drilling Tools International Corporation, a Delaware corporation ("DTIC" or the "Company"), manufactures, rents, inspects, and refurbishes downhole drilling tools primarily to companies in the oil and natural gas industry for bottom hole assemblies used in onshore and offshore horizontal and directional drilling.

On June 20, 2023, a merger transaction between Drilling Tools International Holdings, Inc. ("DTIH"), ROC Energy Acquisition Corp ("ROC"), and ROC Merger Sub, Inc., a directly, wholly owned subsidiary of ROC, was completed (the "Merger”). In connection with the closing of the Merger, ROC changed its name to Drilling Tools International Corporation. The common stock of DTIC ("Common Stock" or the "DTIC Common Stock") commenced trading on the Nasdaq Stock Market LLC ("Nasdaq") under the symbol "DTI" on June 21, 2023.

On March 15, 2024 (the “CTG Acquisition Date”), we entered into a Share Purchase Agreement (the “CTG Share Purchase Agreement”) with Casing Technologies Group Limited (“CTG”), certain shareholders of CTG, and a representative of CTG. Pursuant to the terms of the CTG Share Purchase Agreement, the Company acquired one hundred percent (100%) of the shares of CTG (the “CTG Acquisition”), which wholly owns Deep Casing Tools Limited (“Deep Casing”), an energy technology development company, for approximately $20.9 million. For further details regarding the acquisition, refer to Note 3 – Business Combinations.

On March 6, 2024, the Company entered into an agreement and plan of merger (the "Merger Agreement") by and among the Company, Superior Drilling Products, Inc., a Utah corporation (“SDPI”), DTI Merger Sub I, Inc., a Delaware corporation and directly wholly owned subsidiary of the Company (“Merger Sub I”), and Merger DTI Merger Sub II, LLC, a Delaware limited liability company and wholly owned subsidiary of the Company (“Merger Sub II”). In accordance with the terms of the Merger Agreement, the closing of the merger occurred on July 31, 2024 (the “SDPI Closing Date”) for total consideration of $47.9 million. For further details regarding the acquisition, refer to Note 3 - Business Combinations.

On October 3, 2024, the Company’s wholly owned subsidiary, Drilling Tools International, Inc., entered a Share Purchase Agreement (the "EDP Share Purchase Agreement") with European Drilling Projects B.V. (“EDP”), and the sole shareholder of EDP, to acquire 100% of the shares of EDP. The total purchase price of the acquisition was $13.9 million. For further details regarding the acquisition, refer to Note 3 – Business Combinations.

Basis of Presentation

The accompanying consolidated financial statements have been prepared by the Company in accordance with accounting principles generally accepted in the United States of America (“U.S. GAAP”) as set forth by the Financial Accounting Standards Board ("FASB") and pursuant to the rules and regulations of the United States Securities and Exchange Commission (“SEC”). References to US GAAP issued by the FASB in these notes to the accompanying consolidated financial statements are to the FASB Accounting Standards Codification (“ASC”) and Accounting Standards Update (“ASU”).

During the year ended December 31, 2025, the Company changed the presentation of its consolidated statements of comprehensive income (loss) from a two-step format to a one-step format. Under the previous two-step format, operating income was presented as a subtotal. Under the new one-step format, all revenues are presented, followed by all expenses and losses, including income taxes, without the presentation of intermediate subtotals such as operating income. This change was made to simplify the presentation and enhance comparability with peer companies that use a similar format. The prior period’s income statement has been revised to conform to the current year’s presentation. This change in format does not affect the recognition, measurement, or classification of individual line items and has no impact on net income or other key financial metrics.

Emerging Growth Company

Section 102(b)(1) of the Jumpstart Our Business Startups Act (“JOBS Act”) exempts emerging growth companies from being required to comply with new or revised financial accounting standards until private companies (that is, those that have not had a Securities Act registration statement declared effective or do not have a class of securities registered under the Securities Exchange Act of 1934, as amended) are required to comply with the new or revised financial accounting standards. The JOBS Act provides that a company can

elect to opt out of the extended transition period and comply with the requirements that apply to non-emerging growth companies but any such election to opt out is irrevocable. The Company has elected not to opt out of such extended transition period which means that when a standard is issued or revised and it has different application dates for public or private companies, the Company, as an emerging growth company, can adopt the new or revised standard at the time private companies adopt the new or revised standard, until such time the Company is no longer considered to be an emerging growth company. At times, the Company may elect to early adopt a new or revised standard. As such, the Company’s financial statements may not be comparable to companies that comply with public company effective dates.

Use of Estimates

The preparation of the consolidated financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities, revenue and expenses and the disclosure of contingent assets and liabilities in the Company’s consolidated financial statements and accompanying notes as of the date of the consolidated financial statements. These estimates and assumptions are based on current facts, historical experience and various other factors believed to be reasonable under the circumstances, the results of which form the basis for making judgments about the carrying values of assets and liabilities and the recording of expenses that are not readily apparent from other sources. Actual results may differ materially and adversely from these estimates. In the current macroeconomic and business environment affected by the Russia-Ukraine and Israel-Hamas conflicts and inflationary pressures, these estimates require increased judgment and carry a higher degree of variability and volatility. As events continue to evolve and additional information becomes available, these estimates may change materially in future periods.

Principles of Consolidation

The accompanying consolidated financial statements include the accounts of the Company and its wholly-owned subsidiaries. All intercompany accounts and transactions have been eliminated on consolidation. Further, the basis of consolidation incorporates the financial statements of our foreign entity, Casing Technologies Group Limited, which operates under UK Generally Accepted Accounting Principles ("UK GAAP"). Those financial statements are translated into U.S. GAAP for consolidation purposes. The translation process adheres to established accounting standards and guidelines to ensure consistency and comparability across our consolidated financial statements. This approach enables us to accurately reflect the financial position, results of operations, and cash flows of our consolidated operations.

Foreign Currency Translations and Transactions

The Company has determined that the functional and reporting currency for its operations across the globe is the functional currency of the Company’s international subsidiaries. Accordingly, all foreign balance sheet accounts have been translated into U.S. dollars using the rate of exchange at the respective balance sheet date. Components of the consolidated statements of comprehensive income (loss) have been translated at the average rates during the reporting period. Translation gains and losses are recorded in accumulated other comprehensive income (loss) as a component of stockholders’ equity. Gains or losses arising from currency exchange rate fluctuations on transactions denominated in a currency other than the local functional currency are included in other operating and non-operating expenses, net in the accompanying consolidated statements of comprehensive income (loss).

Concentration of Credit Risk

The Company’s customer concentration may impact its overall credit risk, either positively or negatively, in that these entities may be similarly affected by changes in economic or other conditions affecting the oil and gas industry.

During the years ended December 31, 2025 and December 31, 2024, 27% and 28%, respectively, of our total revenue was earned from two of our customers. Amounts due from these customers included in accounts receivable at December 31, 2025 and December 31, 2024 were approximately $6.4 million and $6.3 million, respectively.

For the years ended December 31, 2025 and December 31, 2024, none of our vendors accounted for more than 10% of total purchases.

Financial instruments that potentially subject the Company to concentrations of credit risk consist primarily of cash. The Company maintains accounts in federally insured financial institutions in excess of federally insured limits. Management believes the Company is not exposed to significant credit risk due to the financial position of the depository institutions in which these deposits are held and of the money market funds in which these investments are made.

Business Combinations

The Company applies the acquisition method of accounting for business combinations, which requires us to make use of estimates and judgments to allocate the purchase price paid for acquisitions to the fair value of the assets acquired and liabilities assumed. We account for contingent assets and liabilities at fair value on the acquisition date, and record changes to fair value associated with these assets and liabilities as a period cost as incurred. We use established valuation techniques and engage reputable valuation specialists to assist us with these valuations. We use a reasonable measurement period to record any adjustment related to the opening balance sheet (generally, less than one year). These fair value measurements are considered level 3 fair value measurements. After the measurement period, changes to the opening balance sheet can result in the recognition of income or expense as period costs. To the extent these items stem from contingencies that existed at the balance sheet date, but are contingent upon the realization of future events, the cost is charged to expense at the time the future event becomes known.

Revenue Recognition

The Company recognizes revenue in accordance with Topic 842 (which addresses lease accounting) and Topic 606 (which addresses revenue from contracts with customers). The Company derives its revenue from two revenue types, tool rental services and product sales.

Tool Rental Services

Tool rental services consist of rental services, inspection services, and repair services. Tool rental services are accounted for under Topic 842.

Owned tool rentals represent the most significant revenue type and are governed by the Company’s standard rental contract. The Company accounts for such rentals as operating leases. The lease terms are included in the contracts, and the determination of whether the Company’s contracts contain leases generally does not require significant assumptions or judgments. Owned tool rentals represent revenue from renting tools that the Company owns. The Company does not generally provide an option for the lessee to purchase the rented equipment at the end of the lease.

The Company recognizes revenues from renting tools on a straight-line basis. The Company’s rental contract periods are daily, monthly, or per well. Additionally, the Company has rental contracts that are based on usage, either on a per footage or per well basis. As these types of rental contracts primarily consist of variable lease payments, which are unknown at commencement, revenue is recognized when the changes in the factor on which the contingent lease payments are based occur. When the customer returns the rental equipment and the footage or usage becomes known, the Company recognizes revenue. The Company accrues all known fixed lease payments for rental contracts that also include variable payments, such as those based on usage or per well, when such variable amounts are not reasonably determinable at period end.

As noted above, the Company is unsure of when the customer will return rented drilling tools. As such, the Company cannot provide a maturity analysis of future lease payments as it is unknown when the tool will be returned and what the customer will owe upon return of the tool. The Company’s drilling tools are generally rented for short periods of time (significantly less than a year). Lessees do not provide residual value guarantees on rented equipment.

The Company expects to derive significant future benefits from its drilling tools following the end of the rental term. The Company’s rentals are generally short-term in nature, and its tools are typically rented for the majority of the time that the Company owns them.

Product Sales

Product sales consist of charges for rented tools that are damaged beyond repair, charges for lost-in-hole, and charges for lost-in-transit while in the care, custody or control of the Company’s customers, drill bit manufacturing and refurbishment, and other charges for made to order product sales as well. Product sales are accounted for under Topic 606.

Revenue is recognized when control of promised goods or services is transferred to a customer in an amount that reflects the consideration to which the entity expects to be entitled in exchange for those goods or services. To determine revenue recognition for its arrangements with customers, the Company performs the following five steps: (i) identify the contract(s) with a customer; (ii) identify the performance obligations in the contract; (iii) determine the transaction price; (iv) allocate the transaction price to the performance obligations in the contract; and (v) recognize revenue when (or as) the entity satisfies a performance obligation. The Company accounts for a contract when it has approval and commitment from both parties, the rights of the parties are identified, payment terms are identified, the contract has commercial substance, and collectability of consideration is probable. A performance

obligation is a promise in a contract to transfer a distinct good or service to the customer and is the unit of account in the revenue standard. The transaction price is measured as consideration specified in a contract with a customer and excludes any sales incentives and taxes or other amounts collected on behalf of third parties. As each of the Company’s contracts with customers contain a single performance obligation to provide a product sale, the Company does not have any performance obligations requiring allocation of transaction prices.

The performance obligation for made to order product sales is satisfied and revenue is recognized at a point in time when control of the asset transfers to the customer, which typically occurs upon delivery of the product or when the product is made available to the customer for pickup at the Company’s shipping dock. Additionally, pursuant to the contractual terms with the Company’s customers, the customer must notify the Company of, and purchase from the Company, any rented tools that are damaged beyond repair, lost-in-hole, or lost-in-transit while in the care, custody or control of the Company’s customers. Revenue is recognized for these products at a point in time upon the customer’s notification to the Company of the occurrence of one of these noted events.

The Company does not have any revenue expected to be recognized in the future related to remaining performance obligations or contracts with variable consideration related to undelivered performance obligations. There was no revenue recognized in the current period from performance obligations satisfied in previous periods.

Contract Assets and Liabilities

Contract assets represent the Company’s rights to consideration for work completed but not billed. As of December 31, 2025 and 2024, the Company had contract assets of $7.2 million and $5.4 million, respectively. Contract assets were recorded in accounts receivable, net in the accompanying consolidated balance sheets. The changes in contract assets for the year ended December 31, 2025 and 2024 were as follows (in thousands):


Balance at December 31, 2023	$	4,157
Revenue recognized from contract assets		55,814
Conversion of contract assets into accounts receivable		(54,522	)
Balance at December 31, 2024	$	5,449
Revenue recognized from contract assets		42,598
Conversion of contract assets into accounts receivable		(40,851	)
Balance at December 31, 2025		7,196

Contract liabilities consist of fees invoiced or paid by the Company’s customers for which the associated services have not been performed and revenue has not been recognized based on the Company’s revenue recognition criteria described above. As of December 31, 2025 and 2024, the Company did not have any contract liabilities.

Cash and Cash Equivalents

The Company considers all highly liquid investments purchased with an original maturity of three months or less to be cash equivalents. The Company did not have any cash equivalents as of December 31, 2025 and 2024.

Accounts Receivable and Allowance for Credit Losses

The Company’s accounts receivable consists principally of uncollateralized amounts billed to customers. These receivables are generally due within 30 to 60 days of the period in which the corresponding sales or rentals occur and do not bear interest. They are recorded at net realizable value less an allowance for credit losses and are classified as account receivable, net on the consolidated balance sheets.

The Company considers both current conditions and reasonable and supportable forecasts of future conditions when evaluating expected credit losses for uncollectible receivable balances. In our determination of the allowance for credit losses, we pool receivables by days outstanding and apply an expected credit loss percentage to each pool. The expected credit loss percentage is determined using historical loss data adjusted for current conditions and forecasts of future economic conditions. Current conditions considered include predefined aging criteria, as well as specified events that indicate the balance due is not collectible. Reasonable and supportable forecasts used in determining the probability of future collection consider publicly available macroeconomic data and whether future credit losses are expected to differ from historical losses.

The changes in the allowance for credit losses for the year ended December 31, 2025 and 2024 were as follows (in thousands):


Balance at December 31, 2023	$	(1,458	)
Provisions for expected credit losses		(439	)
Utilization of allowance for credit losses		207
Balance at December 31, 2024	$	(1,690	)
Provisions for expected credit losses		(595	)
Foreign currency adjustments		(130	)
Utilization of allowances for credit losses		213
Balance at December 31, 2025	$	(2,202	)

Inventories

Inventories are stated at the lower of cost or net realizable value. Cost is determined by using the specific identification method or the first-in-first-out ("FIFO") method, depending on the type of inventory. Inventory that is obsolete or in excess of forecasted usage is written down to its net realizable value based on assumptions regarding future demand and market conditions. Inventory write-downs are charged to cost of rental revenue and cost of product sale revenue within the operating costs section of the consolidated statements of comprehensive income (loss) and establish a new cost basis for the inventory. Inventory includes raw material, work-in-progress, and finished goods.

Property, Plant and Equipment

Property, plant and equipment purchased by the Company are recorded at cost less accumulated depreciation. Depreciation is recorded using the straight-line method based on the estimated useful lives of the depreciable property or, for leasehold improvements, the remaining term of the lease, whichever is shorter. Assets not yet placed in use are not depreciated.

Property, plant and equipment acquired as part of a business acquisition is recorded at acquisition date fair value.

The cost of refurbishments and renewals are capitalized when the value of the property, plant or equipment is enhanced for an extended period. Expenditures to maintain and repair property, plant and equipment, which do not improve or extend the life of the related assets, are charged to operations when incurred. When property, plant and equipment is retired or otherwise disposed of, the related cost and accumulated depreciation are removed from the accounts and any resulting gain or loss is included in operations.

Impairment of Long-Lived Assets

Long-lived assets with finite lives include property, plant and equipment, operating lease right of use assets, and acquired intangible assets. The Company evaluates long-lived assets, including acquired intangible assets for impairment whenever events or changes in circumstances indicate that the carrying amount of an asset may not be recoverable. The recoverability of assets held and used is measured by comparison of the carrying amount of an asset or an asset group to estimated undiscounted future net cash flows expected to be generated by the asset or asset group. If the carrying amount of an asset exceeds these estimated future cash flows, an impairment charge is recognized by the amount for which the carrying amount of the assets exceeds the fair value of the asset or asset group.

For the year ended December 31, 2025, management determined that there were no triggering events necessitating impairment testing of long-lived assets.

Leases

The Company determines if an arrangement is a lease at inception. Operating leases are included in operating lease right-of-use (“ROU”) assets and current operating lease liabilities and operating lease liabilities, net of current portion on the consolidated balance sheets. The Company recognizes lease expense for its operating leases on a straight-line basis over the term of the lease.

ROU assets represent the Company’s right to use an underlying asset for the lease term and lease liabilities represent the Company’s obligation to make lease payments arising from a lease. ROU assets and operating lease liabilities are recognized at the commencement date based on the present value of the future minimum lease payments over the lease term. Operating lease ROU assets also include the impact of any lease incentives. An amendment to a lease is assessed to determine if it represents a lease modification or a separate contract. Lease modifications are reassessed as of the effective date of the modification using an incremental borrowing rate based on the information available at the commencement date. For modified leases the Company also reassess the lease classification as of the effective date of the modification.

The interest rate used to determine the present value of the future lease payments is the Company’s incremental borrowing rate because the interest rate implicit in the Company’s leases is not readily determinable. The incremental borrowing rate is estimated to approximate the interest rate on a collateralized basis with similar terms and payments, and in economic environments where the leased asset is located.

The Company’s lease terms include periods under options to extend or terminate the lease when it is reasonably certain that the Company will exercise that option in the measurement of its ROU assets and liabilities. The Company considers contractual-based factors such as the nature and terms of the renewal or termination, asset-based factors such as physical location of the asset and entity-based factors such as the importance of the leased asset to the Company’s operations to determine the lease term. The Company generally uses the base, noncancelable, lease term when determining the ROU assets and lease liabilities. The right-of-use asset is tested for impairment in accordance with ASC Topic 360, Property, Plant, and Equipment.

Lessor Accounting

Our leased equipment primarily consists of rental tools and equipment. Our agreements with our customers for rental equipment contain an operating lease component under ASC 842 because (i) there are identified assets, (ii) the customer has the right to obtain substantially all of the economic benefits from the use of the identified asset throughout the period of use and (iii) the customer directs the use of the identified assets throughout the period of use.

Our lease contract periods are daily, monthly, per well or based on footage. Lease revenue is recognized on a straight-line basis based on these rates. We do not provide an option for the lessee to purchase the rented tools at the end of the lease and the lessees do not provide residual value guarantees on the rented assets.

We recognized operating lease revenue within “Tool rental” on the consolidated statements of comprehensive income (loss).

Intangibles

Intangible assets with finite useful lives include customer relationships, trade name, patents, non-compete agreements and a supply agreement. These intangible assets are amortized either on a straight-line basis over the asset’s estimated useful life or on a basis that reflects the pattern in which the economic benefits of the intangible are realized.

Goodwill

Goodwill represents the excess of purchase price paid over the fair value of the net assets of acquired businesses. We evaluate Goodwill at least annually for impairment. Goodwill is considered impaired if the carrying amount of the reporting unit exceeds its estimated fair value. To align with our change in reporting segments and reporting units referenced in Note 7 – Goodwill, the Company has changed its annual goodwill impairment assessment date from December 31 to October 31 starting in 2025. This change will not have a material impact on the annual assessment. We first assess qualitative factors to determine whether it is more likely than not that the fair value of a reporting unit is less than its carrying amount as a basis for determining whether it is necessary to perform the goodwill impairment test. If the qualitative assessment indicates that it is more likely than not that the fair value of the reporting unit is less than its carrying amount or we elect not to perform a qualitative assessment, the quantitative assessment of goodwill test is performed. The goodwill impairment test is also performed whenever events or changes in circumstances indicate that the carrying value may not be recoverable. If it is necessary to perform the quantitative assessment to determine if our goodwill is impaired, we will utilize a discounted cash flow analysis using management’s projections that are subject to various risks and uncertainties of revenues, expenses and cash flows as well as assumptions regarding discount rates, terminal value and control premiums. Estimates of future cash flows and fair value are highly subjective and inherently imprecise. These estimates can change materially from period to period based on many factors. Accordingly, if conditions change in the future, we may record impairment losses, which could be material to any particular reporting period. Refer to Note 7, Goodwill for discussion around segment realignment and the Company's impairment analysis during the year ended December 31, 2025. Management concluded that there was no additional impairment of goodwill in the annual testing performed as of October 31, 2025.

Fair Value Measurements

Fair value is the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. There is a hierarchy based upon the transparency of inputs used in the valuation of an asset or liability. Classification within the hierarchy is based upon the lowest level of input that is significant to the fair value measurement. The valuation hierarchy contains three levels:

Level 1 – Valuation inputs are unadjusted quoted market prices for identical assets or liabilities in active markets.

Level 2 – Valuation inputs are quoted prices for identical assets or liabilities in markets that are not active, quoted market prices for similar assets and liabilities in active markets and other observable inputs directly or indirectly related to the assets or liabilities being measured.

Level 3 – Valuation inputs are unobservable and significant to the fair value measurement.

The asset or liability’s fair value measurement level within the fair value hierarchy is based on the lowest level of any input that is significant to the fair value measurement. Valuation techniques used need to maximize the use of observable inputs and minimize the use of unobservable inputs.

In determining the appropriate levels, the Company performs a detailed analysis of the assets and liabilities that are measured and reported on a fair value basis. At each reporting period, all assets and liabilities for which the fair value measurement is based on significant unobservable inputs are classified as Level 3. The valuation of assets and liabilities recognized in business combinations are considered level 3 fair value measurements on the closing date of the acquisition. These assets and liabilities are not remeasured at each reporting period.

As of December 31, 2025 and 2024, the Company did not have any Level 1, 2 or Level 3 assets or liabilities.

Fair Value of Financial Instruments

The Company’s financial instruments consist primarily of cash, accounts receivable, and accounts payable. The carrying amount of such instruments approximates fair value due to their short-term nature. Additionally, the Company carries long-term debt at its amortized cost, which approximates fair value.

Cost of Revenue

The Company recorded all operating costs associated with its product sales and tool rental revenue streams in cost of product sale revenue and cost of tool rental revenue, respectively, in the consolidated statements of comprehensive income (loss). All indirect operating costs, including labor, freight, contract labor and others, are included in selling, general, and administrative expense in the consolidated statements of comprehensive income (loss).

Stock-Based Compensation

The Company accounts for stock-based compensation in accordance with ASC 718, Compensation—Stock Compensation (“ASC 718”). ASC 718 requires that the cost of awards of equity instruments offered in exchange for employee services, including employee stock options and restricted stock awards, be measured based on the grant-date fair value of the award. The Company determines the fair value of stock options granted using the Black-Scholes- Merton option-pricing model (“Black-Scholes model”) and recognizes the cost over the period during which an employee is required to provide service in exchange for the award, generally the vesting period, with forfeitures accounted for as they occur.

For restricted stock units, the grant date fair value is determined based on quoted market price for the Company's common stock as of the grant date and the grant date fair value of the awards are recognized as compensation cost as awards vest over the requisite service period.

Treasury Stock

The Company uses the cost method to record treasury stock purchases whereby the entire cost of the acquired shares of our common stock is recorded as treasury stock (at cost). When we subsequently reissue these shares, proceeds in excess of cost upon the issuance of treasury shares are credited to additional paid-in-capital, while any deficiency is charged to retained earnings.

Non-controlling Interest

When the Company holds an equity method investment in a Variable Interest Entity ("VIE") and is determined to be the primary beneficiary, the VIE is consolidated in accordance with ASC 810, Consolidation. Upon consolidation, any equity interests in the VIE not held by the Company are presented as non-controlling interests in the consolidated financial statements. The non-controlling interest represents the portion of the VIE’s net assets and net income attributable to other equity holders. The Company reassesses its status as the primary beneficiary of the VIE on an ongoing basis and adjusts the non-controlling interest accordingly. Changes in ownership interests that do not result in a loss of control are accounted for as equity transactions.

Earnings Per Share

Basic earnings per share is computed by dividing the net income (loss) by the weighted-average number of common shares outstanding for the period. Diluted earnings is computed by adjusting net income (loss) to reallocate undistributed earnings based on the potential impact of dilutive securities. Diluted earnings per share is computed by dividing the diluted net income (loss) by the weighted-average number of common shares outstanding for the period, including potential dilutive common stock. For the purposes of this calculation, outstanding stock options and restricted stock units are considered potential dilutive common stock and are excluded from the computation of net loss per share if their effect is anti-dilutive.

Income Taxes

Income taxes are provided for the tax effects of transactions reported in the consolidated financial statements and consist of taxes currently due plus deferred taxes. Deferred tax assets and liabilities are recognized for the future tax consequences attributable to differences between the consolidated financial statement carrying amounts of existing assets and liabilities and their respective tax bases.

Deferred tax assets and liabilities are measured using enacted tax rates expected to apply to taxable income in the years in which those temporary differences are expected to be recovered or settled. The effect on deferred tax assets and liabilities of a change in tax rates is recognized in income in the period that includes the enactment date. Deferred income tax expense represents the change during the period in the deferred tax assets and liabilities.

The Company is subject to state income taxes in various jurisdictions.

The Company follows guidance issued by the FASB in accounting for uncertainty in income taxes. This guidance clarifies the accounting for income taxes by prescribing the minimum recognition threshold an income tax position is required to meet before being recognized in the consolidated financial statements and applies to all income tax positions. Each income tax position is assessed using a two-step process. A determination is first made as to whether it is more likely than not that the income tax position will be sustained, based upon technical merits and upon examination by the taxing authorities. If the income tax position is expected to meet the more likely than not criteria, the benefit recorded in the consolidated financial statements equals the largest amount that is greater than 50% likely to be realized upon its ultimate settlement. The Company has no uncertain tax positions at December 31, 2025 and 2024. The Company believes there are no tax positions taken or expected to be taken that would significantly increase or decrease unrecognized tax benefits within twelve months of the reporting date.

The Company records income tax related interest and penalties, if applicable, as a component of the provision for income tax expense. However, there were no amounts recognized relating to interest and penalties in the consolidated statements of comprehensive income (loss) for the year ended December 31, 2025 and 2024.

Reportable Segments

Reportable segments are identified as components of an enterprise about which discrete financial information is available for evaluation by the chief operating decision-maker (“CODM”) in deciding resource allocation and assessing performance. The Company’s Chief Executive Officer is the CODM. The Company’s CODM reviews financial information presented for each reportable segment for the purposes of making operations decisions, allocating resources and evaluating financial performance.

Restructuring

The Company recognizes restructuring charges in accordance with ASC 420, Exit or Disposal Cost Obligations. Restructuring costs primarily include severance and other employee-related termination benefits, as well as reorganization costs associated with strategic

initiatives to streamline operations or reduce overhead. These costs are recognized when a formal plan has been approved, communicated to affected employees, and the obligation is probable and reasonably estimable.

Recent Accounting Pronouncements

In December 2023, FASB issued Accounting Standard Update (“ASU”) 2023-09, Income Taxes (Topic 740) – Improvements to Income Tax Disclosures, which requires enhanced income tax disclosures that reflect how operations and related tax risks, as well as how tax planning and operational opportunities, affect the tax rate and prospects for future cash flows. This standard is effective for the Company beginning January 1, 2025, with early adoption permitted. The Company adopted this standard prospectively. Refer to Note 10 - Income Taxes for the required income tax disclosures.

In November 2024, FASB issued ASU 2024-03, Income Statement - Reporting Comprehensive Income - Expense Disaggregation Disclosures (Subtopic 220-40), which requires disclosure of specific information about costs and expenses within relevant expense captions on the face of the income statement, qualitative descriptions for expense captions not specifically disaggregated quantitatively, and the total amount and definition of selling expenses for interim and annual reporting periods. This standard is effective for the Company’s annual reporting period beginning January 1, 2027, and interim reporting periods beginning January 1, 2028. Early adoption is permitted. The Company is currently evaluating the effects of adopting this new accounting guidance.

BALANCE SHEET DETAILS - CURRENT ASSETS AND CURRENT LIABILITIES (Tables)

12 Months Ended

Dec. 31, 2025

Organization, Consolidation and Presentation of Financial Statements [Abstract]

Summary of Inventories

Inventories

The following table shows the components of inventory (in thousands):


	December 31, 2025		December 31, 2024
Raw materials	$	14,281	$	12,777
Work in progress		672		1,828
Finished goods		3,196		2,897
Inventories		18,149		17,502

Summary of Prepaid Expenses and Other Current Assets

Prepaid expenses and other current assets

The following table shows the components of prepaid expenses and other current assets (in thousands):


	December 31, 2025		December 31, 2024
Prepaid expenses:
Deposits on inventory	$	1,020	$	551
Prepaid income tax		—		1,293
Prepaid insurance		891		958
Prepaid rent		445		449
Prepaid equipment		—		263
Prepaid other		334		361
Other current assets:
Income tax receivable		1,176		—
Total	$	3,866	$	3,874

Summary of Accrued Expenses and Other Current Liabilities

Accrued expenses and other current liabilities

The following table shows the components of accrued expenses and other current liabilities (in thousands):


	December 31, 2025		December 31, 2024
Accrued expenses:
Accrued compensation and related benefits	$	5,662	$	4,497
Accrued insurance		616		645
Accrued professional services		210		253
Accrued inventory and property, plant, and equipment purchases		1,014		—
Accrued interest		493		416
Accrued property taxes		86		44
Accrued monitoring fee		504		373
Other		991		264
Other current liabilities:
Income tax payable		—		459
Sales tax payable		276		229
Unbilled lost-in-hole revenue		137		9
Deferred income		722		675
Total accrued expenses and other current liabilities	$	10,711	$	7,864

EARNINGS PER SHARE (Tables)

12 Months Ended

Dec. 31, 2025

Earnings Per Share [Abstract]

Summary of Computation of The Company's Basic and Diluted Net Earnings Per Share


	Year Ended December 31,
	2025			2024
Numerator:
Net income (loss) attributable to Drilling Tools International stockholders	$	(3,761	)	$	3,014
Denominator
Weighted-average common shares used in computing earnings per share — basic		35,533,268			31,938,847
Weighted-average effect of potentially dilutive securities:
Effect of potentially dilutive stock options		—			311,277
Effect of potentially dilutive performance-based stock options		—			41,033
Effect of potentially dilutive restricted stock units		—			17,022
Weighted-average common shares outstanding — diluted		35,533,268			32,308,179
Earnings per share — basic	$	(0.11	)	$	0.09
Earnings per share — diluted	$	(0.11	)	$	0.09

Summary of Company's Potentially Dilutive Securities Excluded


	Year Ended December 31,
	2025		2024
Performance-based options outstanding		534,063		—
Stock options outstanding		4,429,563		140,135
Restricted stock units outstanding		1,022,451		—
Total		5,986,077		140,135

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - Schedule of Changes in Contract Assets (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2025	Dec. 31, 2024
Change in Contract with Customer, Asset [Abstract]
Balance at December 31, 2023	$ 5,449	$ 4,157
Revenue recognized from contract assets	42,598	55,814
Conversion of contract assets into accounts receivable	(40,851)	(54,522)
Balance at December 31, 2024	$ 7,196	$ 5,449

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Policies)

12 Months Ended

Dec. 31, 2025

Accounting Policies [Abstract]

Organization and Structure

Basis of Presentation

Emerging Growth Company

Use of Estimates

Principles of Consolidation

Foreign Currency Translations and Transactions

Concentration of Credit Risk

For the years ended December 31, 2025 and December 31, 2024, none of our vendors accounted for more than 10% of total purchases.

Business Combinations

Revenue Recognition

Tool Rental Services

Tool rental services consist of rental services, inspection services, and repair services. Tool rental services are accounted for under Topic 842.

Product Sales

Contract Assets and Liabilities


Balance at December 31, 2023	$	4,157
Revenue recognized from contract assets		55,814
Conversion of contract assets into accounts receivable		(54,522	)
Balance at December 31, 2024	$	5,449
Revenue recognized from contract assets		42,598
Conversion of contract assets into accounts receivable		(40,851	)
Balance at December 31, 2025		7,196

Cash and Cash Equivalents

Accounts Receivable and Allowance for Credit Losses

The changes in the allowance for credit losses for the year ended December 31, 2025 and 2024 were as follows (in thousands):


Balance at December 31, 2023	$	(1,458	)
Provisions for expected credit losses		(439	)
Utilization of allowance for credit losses		207
Balance at December 31, 2024	$	(1,690	)
Provisions for expected credit losses		(595	)
Foreign currency adjustments		(130	)
Utilization of allowances for credit losses		213
Balance at December 31, 2025	$	(2,202	)

Inventories

Property, Plant and Equipment

Property, plant and equipment acquired as part of a business acquisition is recorded at acquisition date fair value.

Impairment of Long-Lived Assets

For the year ended December 31, 2025, management determined that there were no triggering events necessitating impairment testing of long-lived assets.

Leases

Lessor Accounting

We recognized operating lease revenue within “Tool rental” on the consolidated statements of comprehensive income (loss).

Intangibles

Goodwill

Fair Value Measurements

Level 1 – Valuation inputs are unadjusted quoted market prices for identical assets or liabilities in active markets.

Level 3 – Valuation inputs are unobservable and significant to the fair value measurement.

As of December 31, 2025 and 2024, the Company did not have any Level 1, 2 or Level 3 assets or liabilities.

Fair Value of Financial Instruments

Cost of Revenue

Stock-Based Compensation

Treasury Stock

Non-controlling Interest

Earnings Per Share

Income Taxes

The Company is subject to state income taxes in various jurisdictions.

Operating Segment

Reportable Segments

Restructuring

Recent Accounting Pronouncements

SEGMENT INFORMATION - Summary of Financial Information by Segment (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2025	Dec. 31, 2024
Segment Reporting Information [Line Items]
Revenue, net	$ 159,626	$ 154,446
Selling, general, and administrative expense	82,239	78,695
Depreciation and amortization	27,290	23,832
Stock-based compensation	2,464	2,092
Goodwill impairment	1,901	0
Income (loss) before income tax expense	(2,856)	2,984
Tool Rental
Segment Reporting Information [Line Items]
Revenue, net	129,562	117,926
Total Cost of Sales	28,911	24,110
Product Sale
Segment Reporting Information [Line Items]
Revenue, net	30,064	36,520
Total Cost of Sales	12,369	14,381
Operating Segments
Segment Reporting Information [Line Items]
Revenue, net	172,045	165,615
Total Cost of Sales	53,700	49,660
Total consolidated cost of revenue	41,280	38,491
Selling, general, and administrative expense	68,319	63,191
Segment EBITDA	50,027	52,764
Corporate expenses	10,706	12,662
Depreciation and amortization	27,290	23,832
Stock-based compensation	2,464	2,092
Monitoring fees	750	750
Transaction expenses	1,155	7,036
Goodwill impairment	1,901	0
Other expenses	8,616	3,407
Income (loss) before income tax expense	(2,856)	2,984
Operating Segments \| Western Hemisphere
Segment Reporting Information [Line Items]
Revenue, net	148,569	152,409
Total Cost of Sales	42,694	43,842
Selling, general, and administrative expense	56,380	57,109
Segment EBITDA	49,494	51,458
Goodwill impairment	900
Operating Segments \| Eastern Hemisphere
Segment Reporting Information [Line Items]
Revenue, net	23,476	13,206
Total Cost of Sales	11,005	5,818
Selling, general, and administrative expense	11,938	6,082
Segment EBITDA	533	1,306
Goodwill impairment	1,000
Operating Segments \| Tool Rental
Segment Reporting Information [Line Items]
Revenue, net	138,194	128,828
Total Cost of Sales	37,544	35,245
Operating Segments \| Tool Rental \| Western Hemisphere
Segment Reporting Information [Line Items]
Revenue, net	117,670	125,291
Total Cost of Sales	28,971	34,132
Operating Segments \| Tool Rental \| Eastern Hemisphere
Segment Reporting Information [Line Items]
Revenue, net	20,525	3,537
Total Cost of Sales	8,573	1,113
Operating Segments \| Product Sale
Segment Reporting Information [Line Items]
Revenue, net	33,851	36,787
Total Cost of Sales	16,156	14,415
Operating Segments \| Product Sale \| Western Hemisphere
Segment Reporting Information [Line Items]
Revenue, net	30,899	27,118
Total Cost of Sales	13,723	9,710
Operating Segments \| Product Sale \| Eastern Hemisphere
Segment Reporting Information [Line Items]
Revenue, net	2,952	9,669
Total Cost of Sales	2,432	4,705
Intersegment Elimination
Segment Reporting Information [Line Items]
Revenue, net	(12,420)	(11,169)
Total consolidated cost of revenue	$ (12,420)	$ (11,169)

GOODWILL - Schedule of Change in Carrying Amount of Goodwill (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2025	Dec. 31, 2024
Goodwill [Abstract]
Net balance as of December 31, 2023	$ 12,147
Additions due to business combinations	2,335	$ 12,378
Goodwill impairment	1,901	0
Measurement period adjustments	1,670
Impairments	(1,901)	0
Foreign currency translation	365	(231)
Net balance as ending balance	$ 14,616	$ 12,147

- Definition

Amount, after accumulated impairment loss, of asset representing future economic benefit arising from other asset acquired in business combination or from joint venture formation or both, that is not individually identified and separately recognized.

+ References

Reference 1: http://www.xbrl.org/2003/role/exampleRef
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-Paragraph 24
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+ Details

- Definition

+ References + Details

LEASES - Summary of Supplemental Balance Sheet Information Related to Leases (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2025	Dec. 31, 2024
Leases [Abstract]
Weighted-average remaining lease term (in years)	7 years 10 months 6 days	7 years 1 month 9 days
Weighted average discount rate	8.20%	7.57%
Operating cash flows from operating leases	$ 6,635	$ 6,228

EMPLOYEE BENEFIT PLANS

12 Months Ended

Dec. 31, 2025

Defined Benefit Plan [Abstract]

EMPLOYEE BENEFITS

NOTE 15 – EMPLOYEE BENEFIT PLANS

The Company sponsors various defined contribution savings plan, primarily in the U.S., that allow employees to contribute a portion of their pre-tax and/or after-tax income in accordance with specified guidelines. Under specified conditions, the Company will make contributions to the plans and/or match a percentage of the employee contributions up to certain limits. The total expense for the years ended December 31, 2025 and 2024 was approximately $0.8 million and $0.7 million, respectively.

SHARE REPURCHASES (Details) - Share Repurchase Program $ in Millions	May 13, 2025 USD ($)
Share Repurchase Program [Line Items]
Plan expiration date	Dec. 31, 2025
Maximum
Share Repurchase Program [Line Items]
Share repurchase authorized	$ 10.0

STOCK-BASED COMPENSATION (Tables)

12 Months Ended

Dec. 31, 2025

Employee Stock Option

Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]

Summary of Stock Option Activity

The following table summarizes options outstanding, as well as activity for the year ended December 31, 2025 and December 31, 2024:


	Shares			Weighted Average Exercise Price		Weighted Average Remaining Contractual Life (in Years)		Aggregate Intrinsic Value
OUTSTANDING, December 31, 2023		2,361,722			4.02		3.37		—
Granted		2,670,374			3.04		—		—
Exercised		(68,470	)		3.72		—		—
OUTSTANDING, December 31, 2024		4,963,626			3.50		3.12		—
Forfeited		(30,000	)		3.02		—		—
OUTSTANDING, December 31, 2025		4,933,626			3.50		4.97		—
UNVESTED, December 31, 2025		1,656,666			3.02		8.13		—
EXERCISABLE, December 31, 2025		3,276,960			3.75		3.37		—

Restricted Stock Units

Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]

Summary of Stock Option Activity

The following table summarizes RSUs outstanding, as well as activity for the year ended December 31, 2025:


	Shares			Weighted Average Exercise Price
UNVESTED, December 31, 2024		68,560			3.23
Granted		1,052,451			3.16
Vested		(68,560	)		5.32
Forfeited		(30,000	)		3.23
UNVESTED, December 31, 2025		1,022,451			3.16

- Definition

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

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+ Details

LEASES (Details)	12 Months Ended
LEASES (Details)	Dec. 31, 2025
Lessee, Lease, Description [Line Items]
Operating lease description	The Company leases various facilities and vehicles under noncancelable operating lease agreements. The remaining lease terms for our leases range from 1 month to 14 years.
Operating lease, existence of option to extend	true
Operating lease option to extend	These leases often include options to extend the term of the lease, which may be for periods of up to 5 years.
Operating lease renewl term	5 years
Minimum
Lessee, Lease, Description [Line Items]
Remaining lease term	1 month
Maximum
Lessee, Lease, Description [Line Items]
Remaining lease term	14 years

BUSINESS COMBINATIONS (Details) $ in Thousands								12 Months Ended
BUSINESS COMBINATIONS (Details) $ in Thousands	Apr. 22, 2025 USD ($)	Jan. 02, 2025 USD ($)	Oct. 03, 2024 USD ($)	Sep. 30, 2024	Jul. 31, 2024 USD ($) Patent	Mar. 15, 2024 USD ($) Patent	Mar. 06, 2024	Dec. 31, 2025 USD ($)	Dec. 31, 2024 USD ($)
Business Combination [Line Items]
Acquisition-related costs									$ 1,600
Revenue, net								$ 159,626	154,446
Net income (loss)								(3,761)	3,014
Goodwill								14,616	12,147
EDP Merger Agreement
Business Combination [Line Items]
Gross cash purchase consideration			$ 13,900
Casing Technologies Group Limited
Business Combination [Line Items]
Goodwill						$ 3,144
Casing Technologies Group Limited \| CTG Purchase Agreement
Business Combination [Line Items]
Business acquisition percentage						100.00%
Gross cash purchase consideration						$ 20,900
Number of intellectual property rights patent \| Patent						60
Superior Drilling Products, Inc
Business Combination [Line Items]
Gross cash purchase consideration					$ 47,900
Acquisition-related costs									3,400
Date of acquisition							Mar. 06, 2024
Number of acquired patents \| Patent					30
Goodwill					$ 7,718
European Drilling Projects B.V.
Business Combination [Line Items]
Business acquisition percentage			100.00%
Gross cash purchase consideration			$ 13,900
Promissory note payable			5,200
Increase decrease in promissory note payable	$ 300
Acquisition-related costs									1,000
Goodwill			$ 3,186
Percentage of shares to acquire				100.00%
Titan Tools Group Limited
Business Combination [Line Items]
Business acquisition percentage		100.00%
Gross cash purchase consideration		$ 10,774
Acquisition-related costs								$ 600	$ 600
Goodwill		$ 2,335
Percentage of shares to acquire		100.00%
Titan Tools Group Limited \| Titan Merger Agreement
Business Combination [Line Items]
Gross cash purchase consideration		$ 10,800

LEASES

12 Months Ended

Dec. 31, 2025

Leases [Abstract]

LEASES

NOTE 8 – LEASES

The Company leases various facilities and vehicles under noncancelable operating lease agreements. The remaining lease terms for our leases range from 1 month to 14 years. These leases often include options to extend the term of the lease, which may be for periods of up to 5 years. When it is reasonably certain that the option will be exercised, the impact of the renewal term is included in the lease term for purposes of determining total future lease payments and measuring the ROU asset and lease liability. We apply the short-term lease policy election, which allows us to exclude from recognition leases with an original term of 12 months or less. We have not entered into any finance leases as of December 31, 2025.

For the year ended December 31, 2025 and December 31, 2024, the components of the Company’s lease expense were as follows (in thousands):


	Year Ended December 31, 2025		Year Ended December 31, 2024
Operating Lease Cost	$	6,995	$	6,494
Short-term Lease Cost		126		136
Variable Lease Cost		440		382
Total Lease Cost	$	7,561	$	7,012

Supplemental balance sheet information related to leases was as follows (in thousands):


	Year Ended December 31, 2025			Year Ended December 31, 2024
Weighted-average remaining lease term (in years)		7.85			7.11
Weighted average discount rate		8.20	%		7.57	%


2026	$	6,150
2027		5,036
2028		4,431
2029		3,655
2030		3,514
Thereafter		12,762
Total lease payments	$	35,548
Less: imputed interest		(9,719	)
Present value of lease liabilities	$	25,829

SHARE REPURCHASES (Tables)

12 Months Ended

Dec. 31, 2025

Share Repurchase Program [Abstract]

Summary of Share Repurchases

Share repurchases by quarter for the year ended December 31, 2025 is summarized below:


Period	Total number of shares of Common Stock Purchases		Average price paid per share of Common Stock		Aggregate purchase price of Common Stock repurchases		Remaining aggregate value authorized for repurchase
First quarter 2025		—		—		—		10,000,000
Second quarter 2025		202,611		3.00		607,661		9,392,339
Third quarter 2025		259,908		2.09		544,467		8,847,872
Fourth quarter 2025		42,650		2.65		112,900		8,734,971
Total		505,169	$	2.50	$	1,265,029	$	8,734,971

PROPERTY, PLANT AND EQUIPMENT, NET (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2025	Dec. 31, 2024
Property, Plant and Equipment [Line Items]
Depreciation expense	$ 24,600	$ 21,500
Property, plant and equipment, net	$ 72,602	$ 75,571

BUSINESS COMBINATIONS - Summary of Preliminary Reconciliation of Fair Value of Consideration Transferred and Fair Value of DTI's Investment in SDPI Acquired and Held Prior to Closing (Details) $ in Millions	Jul. 31, 2024 USD ($)
Superior Drilling Products, Inc
Business Combination [Line Items]
Fair value of consideration transferred	$ 47.9

- Definition

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

+ References

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+ Details

BALANCE SHEET DETAILS - CURRENT ASSETS AND CURRENT LIABILITIES - Summary of Accrued Expenses and Other Current Liabilities (Details) - USD ($) $ in Thousands	Dec. 31, 2025	Dec. 31, 2024
Accrued expenses:
Accrued compensation and related benefits	$ 5,662	$ 4,497
Accrued insurance	616	645
Accrued professional services	210	253
Accrued Inventory and Property, Plant, and Equipment Purchases	1,014	0
Accrued interest	493	416
Accrued property taxes	86	44
Accrued monitoring fee	504	373
Other	991	264
Other current liabilities:
Income tax payable	0	459
Sales tax payable	276	229
Unbilled lost-in-hole revenue	137	9
Deferred revenue	722	675
Total accrued expenses and other current liabilities	$ 10,711	$ 7,864

BUSINESS COMBINATIONS - Summary of Identified Intangible Assets, Estimated Useful Lives and Methodologies Used to Determine Fair Values (Details) - Titan Tools Group Limited $ in Thousands	Jan. 02, 2025 USD ($)
Intangible Asset, Acquired, Finite-Lived [Line Items]
Intangible assets, fair value	$ 2,671
Customer Relationships
Intangible Asset, Acquired, Finite-Lived [Line Items]
Intangible assets, fair value	$ 2,671
Intangible assets, useful life	25 years

GOODWILL

12 Months Ended

Dec. 31, 2025

Goodwill [Abstract]

GOODWILL

NOTE 7 - GOODWILL

The change in carrying amount of goodwill for the years ended December 31, 2024 was as follows (in thousands):


	Total
Net balance as of December 31, 2023	$	—
Additions due to business combinations		12,378
Impairments		—
Foreign currency translation		(231	)
Net balance as of December 31, 2024	$	12,147
Additions due to business combinations		2,335
Measurement period adjustments		1,670
Impairments		(1,901	)
Foreign currency translation		365
Net balance as of December 31, 2025	$	14,616

Change in Reporting Units and Goodwill Impairment

- Definition

The entire disclosure for goodwill.

+ References + Details

SEGMENT INFORMATION - Summary of Additional Financial Information by Operating Segment (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2025	Dec. 31, 2024
Segment Reporting Information [Line Items]
Total assets	$ 222,181	$ 222,431
Operating Segments
Segment Reporting Information [Line Items]
Total capital expenditures	20,147	22,892
Total assets	212,687	212,618
Operating Segments \| Western Hemisphere
Segment Reporting Information [Line Items]
Total capital expenditures	14,921	21,945
Total assets	154,932	171,857
Operating Segments \| Eastern Hemisphere
Segment Reporting Information [Line Items]
Total capital expenditures	5,225	947
Total assets	57,756	40,761
Corporate and Other
Segment Reporting Information [Line Items]
Total assets	$ 9,494	$ 9,813

- Definition

Amount of asset recognized for present right to economic benefit.

+ References

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+ Details

Document and Entity Information - USD ($) $ in Millions	12 Months Ended
Document and Entity Information - USD ($) $ in Millions	Dec. 31, 2025	Mar. 03, 2026	Jun. 30, 2025
Cover [Abstract]
Document Type	10-K
Amendment Flag	false
Document Annual Report	true
Document Transition Report	false
Document Period End Date	Dec. 31, 2025
Entity File Number	001-41103
Entity Registrant Name	DRILLING TOOLS INTERNATIONAL CORPORATION
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	87-2488708
Entity Address, Address Line One	10370 Richmond Ave.
Entity Address, Address Line Two	#1000
Entity Address, City or Town	Houston
Entity Address, State or Province	TX
Entity Address, Postal Zip Code	77042
City Area Code	832
Local Phone Number	742-8500
Entity Well-known Seasoned Issuer	No
Entity Voluntary Filers	No
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Non-accelerated Filer
Entity Small Business	true
Entity Emerging Growth Company	true
Entity Ex Transition Period	false
ICFR Auditor Attestation Flag	false
Entity Shell Company	false
Entity Public Float			$ 49.8
Entity Common Stock, Shares Outstanding		35,185,760
Entity Central Index Key	0001884516
Current Fiscal Year End Date	--12-31
Document Fiscal Year Focus	2025
Document Fiscal Period Focus	FY
Title of 12(b) Security	Common Stock, par value $0.0001 per share
Trading Symbol	DTI
Security Exchange Name	NASDAQ
Auditor Name	GRANT THORNTON LLP
Auditor Location	Houston, Texas
Auditor Firm ID	248
Document Financial Statement Error Correction [Flag]	false
Documents Incorporated by Reference [Text Block]	DOCUMENTS INCORPORATED BY REFERENCE Portions of the Proxy Statement in connection with the 2026 Annual Meeting of Stockholders are incorporated in Part III of this annual report on Form 10-K.
Auditor Opinion [Text Block]	Opinion on the financial statements We have audited the accompanying consolidated balance sheet of Drilling Tools International Corporation (a Delaware corporation) and subsidiaries (the “Company”) as of December 31, 2025, the related consolidated statements of comprehensive income (loss), changes in shareholders’ equity, and cash flows for the year ended December 31, 2025, and the related notes (collectively referred to as the “consolidated financial statements”). In our opinion, the consolidated financial statements present fairly, in all material respects, the financial position of the Company as of December 31, 2025, and the results of its operations and its cash flows for the year ended December 31, 2025, in conformity with accounting principles generally accepted in the United States of America.

VARIABLE INTEREST ENTITY AND JOINT VENTURE ARRANGEMENT - (Details) - USD ($)	May 22, 2025	Dec. 31, 2025	Dec. 31, 2024
Variable Interest Entity [Line Items]
Joint venture contribution	$ 11,600
Joint venture total initial share capital	$ 23,700
Ownership interests percentage	49.00%
Joint venture formation, Description	DTI Malaysia is considered a variable interest entity (“VIE”) under ASC 810 due to the disproportionality between DTI’s voting interest and its control and economic exposure. DTI has the power to direct the activities that most significantly impact the economic performance of DTI Malaysia and is entitled to receive substantially all the economic returns from its operations. As such, DTI is the primary beneficiary of DTI Malaysia and consolidates its financial results. DTI consolidates 100% of DTI Malaysia’s assets, liabilities, revenues, and expenses. The portion of net assets and net income attributable to Upstream Energy is presented as a noncontrolling interest in the Company’s consolidated financial statements. There are no assets of DTI Malaysia that can be used only to settle its obligations nor are there liabilities for which creditors do not have recourse to the general credit of DTI.
Percentage of consolidates of assets, liabilities, revenues, and expenses	100.00%
Assets		$ 222,181,000	$ 222,431,000
Liabilities		$ 99,308,000	$ 102,472,000
Upstream Energy
Variable Interest Entity [Line Items]
Joint venture contribution	$ 12,100
Ownership interests percentage	51.00%
DTI Malaysia
Variable Interest Entity [Line Items]
Assets	$ 0
Variable Interest Entity, Asset, Pledged Status [Extensible Enumeration]	Assets
Liabilities	$ 0
Variable Interest Entity, Liability, Recourse Status [Extensible Enumeration]	Liabilities

INCOME TAXES

12 Months Ended

Dec. 31, 2025

Income Tax Disclosure [Abstract]

INCOME TAXES

NOTE 10 – INCOME TAXES

For the years ended December 31, 2025 and 2024, income from continuing operations before taxes consisted of amounts related to U.S. operations and income associated with the Company’s foreign operations. The geographical breakdown of the Company’s income (loss) from continuing operations before income tax expense (benefit) was as follows (in thousands):


	Year Ended December 31,
	2025			2024
Domestic	$	988		$	1,274
International		(3,844	)		1,710
Income (loss) before income tax expense	$	(2,856	)	$	2,984

Income tax expense (benefit) consists of (in thousands):


	Year Ended December 31,
	2025			2024
Current tax expense:
Federal	$	(268	)	$	1,271
Foreign		282			(1,107	)
State		366			584
Total current		380			748
Deferred tax expense (benefit):
Federal		(617	)		(1,078	)
Foreign		1,101			480
State		41			(180	)
Total deferred tax expense:		525			(778	)
Total income tax expense (benefit)	$	905		$	(30	)

Tax rate reconciliation

The following table presents a reconciliation of the federal statutory rate to the Company’s effective tax rate:


	Year Ended December 31, 2025
	Amount			%
US Federal Statutory Income Tax Rate	$	(600	)		21.0	%
State income taxes, net of federal effect(1)		334			-11.7	%
Tax credits
Research credits		(784	)		27.5	%
Nontaxable and nondeductible Items, net
Meals & Entertainment		133			-4.7	%
Transaction Costs		210			-7.4	%
Foreign Taxes		(78	)		2.7	%
Capital Gain		876			-30.7	%
Stock Comp (Windfall)		41			-1.4	%
367a Gain		63			-2.2	%
Goodwill Impairment		191			-6.7	%
Other Nontaxable and non-deductible items		10			-0.4	%
Return to provision and other true ups		(1,674	)		58.6	%
Other		(2	)		0.1	%
Foreign tax effects
Canada
Rate differential		32			-1.1	%
Payable true up		362			-12.7	%
Other		2			-0.1	%
Withholding		914			-32.0	%
Future withholding		(183	)		6.4	%
Germany
Rate differential		(10	)		0.4	%
Trade tax		81			-2.8	%
Netherlands
Rate differential		(27	)		0.9	%
Other		(81	)		2.8	%
United Kingdom
Rate differential		(196	)		6.9	%
Nontaxable and nondeductible Items, net
Patent Box Deduction		(78	)		2.7	%
Other		7			-0.2	%
Research credits		(16	)		0.6	%
Change in valuation allowance		1,299			-45.5	%
Other		15			-0.5	%
Kuwait
Branch income tax		64			-2.2	%
Effective tax rate	$	905			-31.7	%

(1) State taxes in Texas represented the majority (greater than 50 percent) of the tax effect in this category.

The following table presents a reconciliation of the federal statutory rate to the Company’s effective tax rate in accordance with the guidance prior to the adoption of ASU 2023-09, Improvements to Income Tax Disclosure:


	December 31,
	2024
U.S. federal tax benefit at statutory rate		21.0	%
State taxes, net of federal benefit		12.7	%
Permanent differences		22.7	%
Permanent differences related to foreign items		-5.8	%
Transfer pricing		1.2	%
Foreign rate differential		1.4	%
Foreign taxes		-10.4	%
Valuation allowance		-0.3	%
Credits		-12.1	%
Income taxes deferred adjustment		27.0	%
Income taxes payable adjustment		-58.8	%
Other		0.4	%
Effective tax rate		-1.0	%

Income taxes paid (net of refunds)

The following table presents income taxes paid for the years ended December 31, 2025 and 2024 (in thousands):


	Year Ended December 31,
	2025		2024
Income taxes paid (net of refunds):
Federal	$	—	$	2,663
State:
New Mexico		—		175
Texas		495		435
Louisiana		70		22
Other		62		90
Total State		627		722
Foreign
Canada		797		—
Total cash paid for income tax	$	1,424	$	3,385

Significant components of deferred taxes

The tax effects of temporary differences and carryforwards that give rise to significant portions of the deferred tax assets and deferred tax liabilities as of December 31, 2025 and 2024 are presented below (in thousands):


	Year Ended December 31,
	2025			2024
Deferred tax assets
Net operating loss carryforward	$	8,213		$	3,488
Allowance for credit losses		296			321
Share-based compensation		2,262			1,800
Bonus accrual		151			70
Inventory		200			220
Intangible assets		—			1,815
Federal credits		784			3,252
Other		6,073			2,681
Gross deferred tax assets		17,979			13,647
Valuation allowance		(4,228	)		(3,019	)
Net deferred tax assets		13,751			10,628
Deferred tax liabilities
Depreciation on property, plant, and equipment		(10,750	)		(10,902	)
Withholding tax on unremitted earnings		(247	)		(431	)
Intangible assets		(4,277	)		—
Other		(5,643	)		(5,221	)
Deferred tax liabilities		(20,917	)		(16,554	)
Net deferred liabilities	$	(7,167	)	$	(5,926	)

At December 31, 2025 and 2024, the Company had federal net operating loss carryforwards of approximately $2.8 million and nil, respectively, which may be carried forward indefinitely and state and local net operating loss carryforwards of approximately $0.6 million and $7.0 million, respectively, which expire at various dates.

The utilization of the Company’s net operating losses may be subject to a limitation due to the “change in ownership provisions” under Section 382 of the Internal Revenue Code and similar state and foreign provisions. Such limitations may result in the expiration of the net operating loss carryforwards before their utilization.

The Company is subject to income taxes in the U.S. federal jurisdiction, various state jurisdictions as well as Canada. Tax regulations within each jurisdiction are subject to the interpretation of the related tax laws and regulations and require significant judgment to apply. The Company’s tax years remain open for examination by all tax authorities since inception and carryover attributes remain open to adjustment by the U.S. and state authorities.

On July 4th, 2025, the One Big Beautiful Bill Act (“OBBBA”) was enacted in the U.S. The OBBBA includes significant provisions, such as the permanent extension of certain expiring provisions of the Tax Cuts and Jobs Act, modifications to the international tax framework and restoration of favorable tax treatment for certain business provisions. The legislation has multiple effective dates, with certain provisions effective in 2025 and others implemented through 2027. The Company incorporated these provisions effective during the quarter, and they had no material impact on our consolidated financial statements for the year ended December 31, 2025.

- Definition

The entire disclosure for income tax.

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+ Details

STOCK-BASED COMPENSATION - Summary of Restricted Stock Units Activity (Details) - Restricted Stock Units	12 Months Ended
	Dec. 31, 2025 $ / shares shares
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
OUTSTANDING, December 31, 2024 \| shares	68,560
Stock options granted \| shares	1,052,451
Number of stock options vested \| shares	(68,560)
Number of options forfeited \| shares	(30,000)
OUTSTANDING, December 31, 2025 \| shares	1,022,451
Weighted average exercise price, beginning balance \| $ / shares	$ 3.23
Weighted average exercise price, Granted \| $ / shares	3.16
Weighted average exercise price, Vested \| $ / shares	5.32
Weighted average exercise price, Forfeited \| $ / shares	3.23
Weighted average exercise price, ending balance \| $ / shares	$ 3.16

BUSINESS COMBINATIONS - Summary of Preliminary Allocation of the Purchase (Details) - USD ($) $ in Thousands	Dec. 31, 2025	Jan. 02, 2025	Dec. 31, 2024	Oct. 03, 2024	Jul. 31, 2024	Mar. 15, 2024
Business Combination [Line Items]
Deferred tax assets	$ 13,751		$ 10,628
Goodwill	$ 14,616		$ 12,147
Casing Technologies Group Limited
Business Combination [Line Items]
Cash						$ 2,674
Accounts receivable, net						3,781
Inventories						4,282
Prepaid expenses and other current assets						189
Property, plant and equipment , net						1,647
Operating lease right-of-use asset						315
Intangible assets, net						8,065
Goodwill						3,144
Total assets acquired						24,097
Accounts payable						2,656
Accrued expenses and other current liabilities						231
Current portion of operating lease liabilities						95
Operating lease liabilities, less current portion						180
Total liabilities assumed						3,162
Total consideration transferred						20,935
Casing Technologies Group Limited \| Preliminary
Business Combination [Line Items]
Cash						2,674
Accounts receivable, net						3,781
Inventories						4,282
Prepaid expenses and other current assets						189
Property, plant and equipment , net						1,647
Operating lease right-of-use asset						315
Intangible assets, net						8,065
Goodwill						2,618
Total assets acquired						23,571
Accounts payable						2,656
Accrued expenses and other current liabilities						(295)
Current portion of operating lease liabilities						95
Operating lease liabilities, less current portion						180
Total liabilities assumed						2,636
Total consideration transferred						20,935
Casing Technologies Group Limited \| Measurement Period Adjustments
Business Combination [Line Items]
Cash						0
Accounts receivable, net						0
Inventories						0
Prepaid expenses and other current assets						0
Property, plant and equipment , net						0
Operating lease right-of-use asset						0
Intangible assets, net						0
Goodwill						526
Total assets acquired						526
Accounts payable						0
Accrued expenses and other current liabilities						526
Current portion of operating lease liabilities						0
Operating lease liabilities, less current portion						0
Total liabilities assumed						526
Total consideration transferred						$ 0
Superior Drilling Products, Inc
Business Combination [Line Items]
Cash					$ 1,726
Accounts receivable, net					1,239
Related party note receivable, current					1,231
Inventories					2,800
Prepaid expenses and other current assets					573
Property, plant and equipment , net					10,213
Related party note receivable, noncurrent					4,193
Operating lease right-of-use asset					2,662
Intangible assets, net					22,850
Goodwill					7,718
Deposits and other long-term assets					200
Total assets acquired					47,687
Accounts payable					370
Accrued expenses and other current liabilities					1,804
Deferred tax liabilities, net					881
Deferred income					675
Current portion of operating lease liabilities					147
Operating lease liabilities, less current portion					2,368
Total liabilities assumed					6,245
Total identifiable net assets					41,442
Total consideration transferred					$ 49,160
European Drilling Projects B.V.
Business Combination [Line Items]
Cash				$ 79
Accounts receivable, net				1,451
Prepaid expenses and other current assets				42
Property, plant and equipment , net				3,176
Operating lease right-of-use asset				325
Deferred tax assets				855
Intangible assets, net				8,197
Goodwill				3,186
Total assets acquired				14,125
Accounts payable				428
Accrued expenses and other current liabilities				876
Deferred tax liabilities, net				1,910
Operating lease liabilities, less current portion				325
Total liabilities assumed				3,539
Total identifiable net assets				10,586
Total consideration transferred				13,634
European Drilling Projects B.V. \| Preliminary
Business Combination [Line Items]
Cash				79
Accounts receivable, net				1,451
Prepaid expenses and other current assets				42
Property, plant and equipment , net				3,176
Operating lease right-of-use asset				325
Deferred tax assets				883
Intangible assets, net				8,197
Goodwill				1,516
Total assets acquired				14,153
Accounts payable				428
Accrued expenses and other current liabilities				1,014
Deferred tax liabilities, net				2
Operating lease liabilities, less current portion				325
Total liabilities assumed				1,769
Total identifiable net assets				12,384
Total consideration transferred				13,900
European Drilling Projects B.V. \| Measurement Period Adjustments
Business Combination [Line Items]
Deferred tax assets				(28)
Goodwill				1,670
Total assets acquired				(28)
Deferred tax liabilities, net				1,908
Total liabilities assumed				1,908
Total identifiable net assets				(1,936)
Total consideration transferred				$ (266)
Titan Tools Group Limited
Business Combination [Line Items]
Cash		$ 559
Accounts receivable, net		3,670
Inventories		658
Prepaid expenses and other current assets		93
Property, plant and equipment , net		3,927
Operating lease right-of-use asset		919
Intangible assets, net		2,657
Goodwill		2,335
Total assets acquired		12,484
Accounts payable		1,090
Accrued expenses and other current liabilities		1,965
Deferred tax liabilities, net		71
Current portion of operating lease liabilities		226
Operating lease liabilities, less current portion		694
Total liabilities assumed		4,045
Total identifiable net assets		8,439
Total consideration transferred		$ 10,774

COMMITMENTS AND CONTINGENCIES

12 Months Ended

Dec. 31, 2025

Commitments and Contingencies Disclosure [Abstract]

COMMITMENTS AND CONTINGENCIES

NOTE 14 – COMMITMENTS AND CONTINGENCIES

The Company maintains operating leases for various facilities and vehicles. See Note 8, Leases, for further information.

Litigation

From time to time, the Company may become involved in various legal proceedings in the ordinary course of its business and may be subject to third-party infringement claims.

In the normal course of business, the Company may agree to indemnify third parties with whom it enters into contractual relationships, including customers, lessors, and parties to other transactions with the Company, with respect to certain matters. The Company has agreed, under certain conditions, to hold these third parties harmless against specified losses, such as those arising from a breach of representations or covenants, other third-party claims that the Company’s products when used for their intended purposes infringe the intellectual property rights of such other third parties, or other claims made against certain parties. It is not possible to determine the maximum potential amount of liability under these indemnification obligations due to the Company’s limited history of prior indemnification claims and the unique facts and circumstances that are likely to be involved in each particular claim.

Management Fee

The Company is required to pay a monthly management fee to a shareholder. The fee is based upon a percentage of the Company’s trailing twelve months, earnings before interest, taxes and accumulated depreciation amount, as defined in the management agreement (refer to Note 13, Related Parties Transactions).

SEGMENT INFORMATION (Tables)

12 Months Ended

Dec. 31, 2025

Segment Reporting [Abstract]

Summary of Financial Information by Segment

Financial information by segment for the years ended December 31, 2025 and 2024 is summarized below:


	For the Year Ended December 31, 2025
	Western Hemisphere		Eastern Hemisphere		Total
Tool Rental		117,670		20,525		138,194
Product Sales		30,899		2,952		33,851
Total Revenue		148,569		23,476		172,045
Reconciliation of revenue
Elimination of intersegment revenue						(12,420	)
Total consolidated revenue						159,626
Less:(1)
Cost of Tool Rental		28,971		8,573		37,544
Cost of Product Sales		13,723		2,432		16,156
Total Cost of Sales		42,694		11,005		53,700
Reconciliation of cost of revenue
Elimination of intersegment cost of revenue						(12,420	)
Total consolidated cost of revenue						41,280
Selling, general, administrative expenses		56,380		11,938		68,319
Segment EBITDA		49,494		533		50,027
Reconciliation of segment profit
Corporate expenses(2)						10,706
Depreciation and amortization						27,290
Stock-based compensation						2,464
Monitoring fees						750
Transaction expenses						1,155
Goodwill impairment						1,901
Other expenses						8,616
Consolidated loss before taxes						(2,856	)


	For the Year Ended December 31, 2024
	Western Hemisphere		Eastern Hemisphere		Total
Tool Rental		125,291		3,537		128,828
Product Sales		27,118		9,669		36,787
Total Revenue		152,409		13,206		165,615
Reconciliation of revenue
Elimination of intersegment revenue						(11,169	)
Total consolidated revenue						154,446
Less:(1)
Cost of Tool Rental		34,132		1,113		35,245
Cost of Product Sales		9,710		4,705		14,415
Total Cost of Sales		43,842		5,818		49,660
Reconciliation of cost of revenue
Elimination of intersegment cost of revenue						(11,169	)
Total consolidated cost of revenue						38,491
Selling, general, administrative expenses		57,109		6,082		63,191
Segment EBITDA		51,458		1,306		52,764
Reconciliation of segment profit
Corporate expenses(2)						12,662
Depreciation and amortization						23,832
Stock-based compensation						2,092
Monitoring fees						750
Transaction expenses						7,036
Goodwill impairment						—
Other expenses						3,407
Consolidated loss before taxes						2,984

(1) The significant expense categories and amounts align with the segment-level information that is regularly provided to the chief operating decision maker

(2) Comprised primarily of expenses not allocated to our geographical segments.

Additional financial information by operating segment as of December 31, 2025 and 2024 is summarized below:


	December 31,
	2025		2024
Capital Expenditures
Western Hemisphere	$	14,921	$	21,945
Eastern Hemisphere		5,225		947
Total capital expenditures		20,147		22,892
Segment Assets(1):
Western Hemisphere	$	154,932	$	171,857
Eastern Hemisphere		57,756		40,761
Total segment assets		212,687		212,618
Corporate and other(2)		9,494		9,813
Total assets	$	222,181	$	222,431

(1) The goodwill allocated to the four reporting units is included within their respective segment asset totals. The goodwill amount included in segment assets is net of impairment losses of $0.9 million and $1.0 million at the Western Hemisphere and Eastern Hemisphere segments, respectively. Refer to Note 7 - Goodwill for further details.

(2) Corporate assets consists of cash, related party notes receivables, and deferred financing costs.

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Details)						12 Months Ended
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Details)	Jan. 02, 2025 USD ($)	Jan. 01, 2025 Segment	Oct. 03, 2024 USD ($)	Jul. 31, 2024 USD ($)	Mar. 15, 2024 USD ($)	Dec. 31, 2025 USD ($) Segment	Dec. 31, 2024 USD ($)
Accounting Policies [Line Items]
Cash equivalents						$ 0	$ 0
Contract assets						7,200,000	5,400,000
Revenue, net						159,626,000	154,446,000
Contract liabilities						0	0
Accounts receivable						$ 37,683,000	39,606,000
Number of operating segment \| Segment		2				2
Number of reportable segment \| Segment						2
Minimum percentage of unrecognized tax benefits that would impact effective tax rate						50.00%
Unrecognized tax benefits						$ 0	0
Unrecognized tax benefits accrued for interest and penalties						$ 0	$ 0
Segment Reporting, Expense Information Used by CODM, Description						The CODM uses these metrics in the annual budget and forecasting process. The CODM considers budget-to-actual variances on a quarterly basis to forecast future performance, adjust the budget, and make decisions about the allocation of operating and capital resources to the segment.
Segment Reporting, CODM, Individual Title and Position or Group Name [Extensible Enumeration]						srt:ChiefExecutiveOfficerMember
Customer Concentration Risk \| Sales Revenue \| Two Customers
Accounting Policies [Line Items]
Concentration risk percentage						27.00%	28.00%
Customer Concentration Risk \| Vendor Purchases \| Zero Vendor
Accounting Policies [Line Items]
Concentration risk percentage						10.00%	10.00%
Customer Concentration Risk \| Accounts Receivable
Accounting Policies [Line Items]
Receivables from customers						$ 6,400,000	$ 6,300,000
Level 3
Accounting Policies [Line Items]
Assets fair value						0	0
Liabilities fair value						0	0
Level 2
Accounting Policies [Line Items]
Assets fair value						0	0
Liabilities fair value						0	0
Level 1
Accounting Policies [Line Items]
Assets fair value						0	0
Liabilities fair value						$ 0	$ 0
Superior Drilling Products, Inc
Accounting Policies [Line Items]
Purchase consideration				$ 47,900,000
Casing Technologies Group Limited
Accounting Policies [Line Items]
Business acquisition percentage					100.00%
Casing Technologies Group Limited \| Deep Casing Tools Limited
Accounting Policies [Line Items]
Purchase consideration					$ 20,900,000
European Drilling Projects B.V.
Accounting Policies [Line Items]
Business acquisition percentage			100.00%
Purchase consideration			$ 13,900,000
Titan Tools Group Limited
Accounting Policies [Line Items]
Business acquisition percentage	100.00%
Purchase consideration	$ 10,774,000

SEGMENT INFORMATION - Summary of Additional Financial Information by Operating Segment (Parenthetical) (Details) $ in Thousands	12 Months Ended
	Dec. 31, 2025 USD ($) ReportingUnits	Dec. 31, 2024 USD ($)
Segment Reporting Information [Line Items]
Number of reporting units, goodwill allocated \| ReportingUnits	4
Goodwill, impairment loss	$ 1,901	$ 0
Operating Segments [Member]
Segment Reporting Information [Line Items]
Goodwill, impairment loss	1,901	$ 0
Operating Segments [Member] \| Western Hemisphere [Member]
Segment Reporting Information [Line Items]
Goodwill, impairment loss	900
Operating Segments [Member] \| Eastern Hemisphere [Member]
Segment Reporting Information [Line Items]
Goodwill, impairment loss	$ 1,000

- Definition

+ References + Details

STOCK-BASED COMPENSATION

12 Months Ended

Dec. 31, 2025

Share-Based Payment Arrangement [Abstract]

STOCK-BASED COMPENSATION

NOTE 11 – STOCK-BASED COMPENSATION

On June 20, 2023, the Company adopted the Drilling Tools International Corporation 2023 Omnibus Incentive Plan (the "2023 Plan"). The 2023 Plan became effective on the closing of the Merger. The 2023 Plan provides for the issuance of shares of Common Stock up to ten percent (10%) of the shares of outstanding Common Stock as of the closing of the Merger and automatically increases on the first trading day of each calendar year by the number of shares of Common Stock equal to three percent (3%) of the total number of outstanding Common Stock on the last day of the prior calendar year. The 2023 Plan allows for awards to be issued to employees, non-employee directors, and consultants in the form of options, stock appreciation rights, restricted shares, restricted stock units, performance based awards, other share-based awards, other cash-based awards, or a combination of the foregoing. As of December 31, 2025, there were 1,580,395 shares of Common Stock available for issuance under the 2023 Plan.

Stock Options

The stock options issued are service based with a vest term ranging from one to three years. The awards have contractual terms of ten years. The fair value of each stock option award is estimated on the date of grant using a Black-Scholes model. Expected

volatilities are based on comparable public company data. The Company uses future estimated employee termination and forfeiture rates of the options within the valuation model. The expected term of options granted is derived using the “plain vanilla” method due to the lack of history and volume of option activity at the Company. The risk-free rate is based on the approximate U.S. Treasury yield rate in effect at the time of grant. The Company will use the quoted market price as of the grant date as an input into the Black-Scholes model.

The following table summarizes options outstanding, as well as activity for the year ended December 31, 2025 and December 31, 2024:


	Shares			Weighted Average Exercise Price		Weighted Average Remaining Contractual Life (in Years)		Aggregate Intrinsic Value
OUTSTANDING, December 31, 2023		2,361,722			4.02		3.37		—
Granted		2,670,374			3.04		—		—
Exercised		(68,470	)		3.72		—		—
OUTSTANDING, December 31, 2024		4,963,626			3.50		3.12		—
Forfeited		(30,000	)		3.02		—		—
OUTSTANDING, December 31, 2025		4,933,626			3.50		4.97		—
UNVESTED, December 31, 2025		1,656,666			3.02		8.13		—
EXERCISABLE, December 31, 2025		3,276,960			3.75		3.37		—

During the years ended December 31, 2025 and 2024, the Company recognized $1.5 million and $1.4 million, respectively, of stock-based compensation expense related to stock options within selling, general, and administrative expenses on the consolidated statements of comprehensive income (loss). As of December 31, 2025, total unrecognized compensation expense related to the stock options totaled $1.6 million.

Restricted Stock Units

Restricted stock units ("RSUs") are granted employees as well as members of the Board of Directors. RSUs vest over a one to four year period with service and continued employment as the only vesting criteria. The recipient of the restricted stock award is entitled to all of the rights of a shareholder, except that the award is nontransferable during the vesting period. The fair value of the restricted stock award is established on the grant date and then expensed over the vesting period resulting in an increase in additional paid-in-capital.

The following table summarizes RSUs outstanding, as well as activity for the year ended December 31, 2025:


	Shares			Weighted Average Exercise Price
UNVESTED, December 31, 2024		68,560			3.23
Granted		1,052,451			3.16
Vested		(68,560	)		5.32
Forfeited		(30,000	)		3.23
UNVESTED, December 31, 2025		1,022,451			3.16

During the years ended December 31, 2025 and 2024, the Company recognized $1.0 million and $0.7 million, respectively, of stock based compensation related to RSUs within selling, general, and administrative expenses on the consolidated statements of comprehensive income (loss). As of December 31, 2025, unrecognized compensation expense related to the RSUs totaled $2.4 million.

BUSINESS COMBINATIONS (Tables)

12 Months Ended

Dec. 31, 2025

Business Combination [Line Items]

Summary of Identified Intangible Assets, Estimated Useful Lives and Methodologies Used to Determine Fair Values

The following table sets forth the amounts allocated to the identified intangible assets, the estimated useful lives of those intangible assets as of the Titan Closing Date, and the methodologies used to determine the fair values of those intangible assets (in thousands):


	Fair value		Useful life (in years)	Fair value methodology
Customer relationship	$	2,671	25	Multi-period Excess Earnings Method
Total intangible assets	$	2,671

Casing Technologies Group Limited

Business Combination [Line Items]

Summary of Preliminary Allocation of the Purchase

The allocation of the purchase is as follows:


Assets	Preliminary March 15, 2024			Measurement Period Adjustments		As adjusted March 15, 2024
Cash	$	2,674		$	—	$	2,674
Accounts receivable, net		3,781			—		3,781
Inventories		4,282			—		4,282
Prepaid expenses and other current assets		189			—		189
Property, plant and equipment, net		1,647			—		1,647
Operating lease right-of-use asset		315			—		315
Intangible assets, net		8,065			—		8,065
Goodwill		2,618		526			3,144
Total assets acquired	$	23,571		$	526	$	24,097

Liabilities
Accounts payable		2,656			—		2,656
Accrued expenses and other current liabilities		(295	)		526		231
Current portion of operating lease liabilities		95			—		95
Operating lease liabilities, less current portion		180			—		180
Total liabilities assumed	$	2,636		$	526	$	3,162
Total consideration transferred	$	20,935		$	—	$	20,935

The excess of the purchase price over the fair values of the net identifiable tangible and intangible assets acquired has been assigned to goodwill. Goodwill represents the future benefits as a result of the acquisition that will enhance the services available to both new and existing customers and increase the Company’s competitive position. Goodwill will be evaluated for impairment at least annually. Goodwill attributable to the CTG Acquisition is not deductible for tax purposes. As of March 15, 2025, the Company is complete with the process of allocating the purchase price and valuing the acquired assets and liabilities assumed.

Superior Drilling Products, Inc

Business Combination [Line Items]

Summary of Preliminary Allocation of the Purchase

The allocation of the purchase is as follows (in thousands):


Assets acquired:
Cash	$	1,726
Accounts receivable, net		1,239
Related party note receivable, current		1,231
Inventories		2,800
Prepaid expenses and other current assets		573
Property, plant and equipment, net		10,213
Related party note receivable, noncurrent		4,193
Operating lease right-of-use asset		2,662
Intangible assets, net		22,850
Deposits and other long-term assets		200
Total assets acquired		47,687
Liabilities assumed:
Accounts payable		370
Current portion of operating lease liabilities		147
Accrued expenses and other current liabilities		1,804
Deferred tax liabilities, net		881
Deferred income		675
Operating lease liabilities, less current portion		2,368
Total liabilities assumed		6,245
Total identifiable net assets		41,442
Goodwill		7,718
Total net assets acquired and goodwill	$	49,160

European Drilling Projects B.V.

Business Combination [Line Items]

Summary of Preliminary Allocation of the Purchase

The allocation of the purchase is as follows (in thousands):


	September 30, 2024		Measurement Period Adjustments			As adjusted September 30, 2024
Assets acquired:
Cash	$	79		—		$	79
Accounts receivable		1,451		—			1,451
Prepaids and other current assets		42		—			42
Property, plant and equipment		3,176		—			3,176
Operating lease right-of-use asset		325		—			325
Deferred tax assets		883		(28	)		855
Intangible assets		8,197		—			8,197
Total assets acquired		14,153		(28	)		14,125
Liabilities assumed:
Accounts payable		428		—			428
Accrued expenses and other current liabilities		1,014		—			876
Operating lease liabilities, less current portion		325		—			325
Deferred tax liabilities, net		2		1,908			1,910
Total liabilities assumed		1,769		1,908			3,539
Total identifiable net assets		12,384		(1,936	)		10,586
Goodwill		1,516		1,670			3,186
Total net assets acquired and goodwill	$	13,900	$	(266	)	$	13,634

Titan Tools Group Limited

Business Combination [Line Items]

Summary of Preliminary Allocation of the Purchase

The allocation of the purchase price is as follows (in thousands):


Assets acquired:
Cash	$	559
Accounts receivable, net		3,670
Inventories		658
Prepaid expenses and other current assets		93
Property, plant and equipment, net		3,927
Operating lease right-of-use asset		919
Intangible assets, net		2,657
Total assets acquired		12,484
Liabilities assumed:
Accounts payable		1,090
Operating lease liabilities, current		226
Accrued expenses and other current liabilities		1,965
Operating lease liabilities, less current portion		694
Deferred tax liabilities, net		71
Total liabilities assumed		4,045
Total identifiable net assets		8,439
Goodwill		2,335
Total net assets acquired and goodwill	$	10,774

Summary of Consideration for Merger

The consideration for the acquisition of $10.8 million is comprised of the following items (in thousands):


Cash paid to Titan shareholders	$	6,002
Titan transaction costs to be paid by DTI		175
Closing date equity consideration(1)		2,922
Effective settlement of preexisting relationship between DTI and Titan (2)		1,675
Fair value of consideration transferred	$	10,774

(1) Represents the value, as of the Titan Closing Date, of the DTI common stock transferred as purchase consideration.

(2) Represents the effective settlement of DTI’s accounts receivable from Titan and DTI’s accounts payable to Titan as Titan and DTI were customers of each other prior to the Titan Closing.

- Definition

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

+ References

+ Details

- Definition

Tabular disclosure of business combination. Includes, but is not limited to, recognized asset and liability.

+ References + Details

SUBSEQUENT EVENTS (Details) - USD ($) $ in Millions	Jul. 31, 2024	Mar. 15, 2024	Dec. 31, 2025	Dec. 31, 2024
Subsequent Event [Line Items]
Common stock, shares issued			35,661,297	34,704,696
Casing Technology Group Limited \| CTG Purchase Agreement
Subsequent Event [Line Items]
Percentage acquired		100.00%
Gross cash purchase consideration		$ 20.9
Superior Drilling Products, Inc
Subsequent Event [Line Items]
Gross cash purchase consideration	$ 47.9

BUSINESS COMBINATIONS

12 Months Ended

Dec. 31, 2025

Business Combination [Abstract]

BUSINESS COMBINATIONS

NOTE 3 - BUSINESS COMBINATIONS

Acquisition of CTG

On March 15, 2024, the Company’s wholly owned subsidiary, Drilling Tools International, Inc., entered into and consummated the Share Purchase Agreement with CTG, the shareholders of CTG, and a representative of CTG, to acquire 100% of the shares of CTG for a gross cash purchase consideration of $20.9 million. CTG is incorporated in the United Kingdom and is the holding company of its wholly owned subsidiary, Deep Casing. Deep Casing specializes in the design, engineering, and manufacturing of a range of patented and innovative products for well construction, well completion, and casing installation processes for the global oil and gas sector. The CTG Acquisition allows the Company to further expand its geographical presence globally, especially in the Middle East,

provides accretive earnings to consolidated results of operations, and expands the Company’s portfolio of intellectual property rights, through the acquisition of over 60 patents.

The acquisition of CTG has been accounted for as a business combination in accordance with ASC 805, Business Combinations. The Company has been treated as the accounting acquirer. Accordingly, CTG's tangible and identifiable intangible assets acquired and its liabilities assumed were recorded at their estimated fair values on the closing date.

The allocation of the purchase is as follows:


Assets	Preliminary March 15, 2024			Measurement Period Adjustments		As adjusted March 15, 2024
Cash	$	2,674		$	—	$	2,674
Accounts receivable, net		3,781			—		3,781
Inventories		4,282			—		4,282
Prepaid expenses and other current assets		189			—		189
Property, plant and equipment, net		1,647			—		1,647
Operating lease right-of-use asset		315			—		315
Intangible assets, net		8,065			—		8,065
Goodwill		2,618		526			3,144
Total assets acquired	$	23,571		$	526	$	24,097

Liabilities
Accounts payable		2,656			—		2,656
Accrued expenses and other current liabilities		(295	)		526		231
Current portion of operating lease liabilities		95			—		95
Operating lease liabilities, less current portion		180			—		180
Total liabilities assumed	$	2,636		$	526	$	3,162
Total consideration transferred	$	20,935		$	—	$	20,935

The Company incurred acquisition-related costs of $1.6 million during the year ended December 31, 2024, which are included in other operating and non-operating expenses in the consolidated statement of comprehensive income (loss).

Acquisition of Superior Drilling Products, Inc.

On March 6, 2024, the Company entered into the Merger Agreement by and among the Company, SDPI, Merger Sub, Merger Sub II, pursuant to the First Merger, with SDPI surviving as a wholly owned subsidiary of DTI and upon the effective time of the First Merger, SDPI, as the surviving corporation of the First Merger, merged with and into Merger Sub II, with Merger Sub II surviving as a wholly owned subsidiary of the Company. In accordance with the terms of the Merger Agreement, the closing of the merger occurred on July 31, 2024.

SDPI is an innovative drilling and completion tool technology company providing cost saving solutions that drive production efficiencies for the oil and natural gas drilling industry. In addition, SDPI is a manufacturer and refurbisher of polycrystalline diamond compact drill bits for leading oil field services companies. The acquisition furthers the Company's growth strategy as a premier provider of technologically differentiated solutions and services for the global oil & gas drilling industry. The SDPI acquisition allows the company to vertically integrate around our proven and successful Drill-N-Ream® tool, gain global rights to run this tool, continue the Vernal, Utah bit repair business supporting major OEMs of PDC drill bits, and leverage their high-spec machine shop. In addition, we acquired over 30 patents and patents pending, the majority of which have been granted.

The acquisition of SDPI has been accounted for as a business combination in accordance with ASC 805, Business Combinations. The Company has been treated as the accounting acquirer. Accordingly, SDPI's tangible and identifiable intangible assets acquired and its liabilities assumed were recorded at their estimated fair values on the closing date.

The allocation of the purchase is as follows (in thousands):


Assets acquired:
Cash	$	1,726
Accounts receivable, net		1,239
Related party note receivable, current		1,231
Inventories		2,800
Prepaid expenses and other current assets		573
Property, plant and equipment, net		10,213
Related party note receivable, noncurrent		4,193
Operating lease right-of-use asset		2,662
Intangible assets, net		22,850
Deposits and other long-term assets		200
Total assets acquired		47,687
Liabilities assumed:
Accounts payable		370
Current portion of operating lease liabilities		147
Accrued expenses and other current liabilities		1,804
Deferred tax liabilities, net		881
Deferred income		675
Operating lease liabilities, less current portion		2,368
Total liabilities assumed		6,245
Total identifiable net assets		41,442
Goodwill		7,718
Total net assets acquired and goodwill	$	49,160

The excess of the fair value of the consideration transferred and the fair value of DTI’s previously held investment in SDPI over the fair values of the net identifiable tangible and intangible assets acquired has been assigned to goodwill. Goodwill represents the future benefits as a result of the acquisition that will enhance the services available to both new and existing customers and increase the Company’s competitive position. Goodwill will be evaluated for impairment at least annually. Goodwill attributable to the acquisition of SDPI is not deductible for tax purposes. As of July 31, 2025, the Company is complete with the process of allocating the purchase price and valuing the acquired assets and liabilities assumed.

The Company incurred acquisition-related costs of $3.4 million during the year ended December 31, 2024, which are included in other operating and non-operating expense, net in the consolidated statements of comprehensive income (loss).

Acquisition of European Drilling Projects B.V.

On September 30, 2024, the Company’s wholly owned subsidiary, Drilling Tools International, Inc., entered the Share Purchase Agreement with European Drilling Projects B.V. (“EDP”), and the sole shareholder of EDP, to acquire 100% of the shares of EDP. European Drilling Products is a global provider of next-generation stabilizers, specialty reamers, and wellbore optimization technology for the drilling industry. EDP designs and manufactures bespoke drilling equipment tailored to address specific industry challenges. The integration of EDP's expertise aligns seamlessly with DTI's international growth strategy and commitment to technological differentiation.

In accordance with the terms of the Merger Agreement, the closing of the acquisition occurred on October 3, 2024 (the “EDP Closing Date” or “EDP Closing”) for total consideration of $13.9 million, including a Promissory Note payable to parent company of EDP for $5.2 million. On April 22, 2025, the First Amendment to the Promissory Note was entered into, reducing the balance owed on the Promissory Note by $0.3 million. As the amendment was signed within a year of the acquisition date of September 30, 2024 and related to additional information about matters which existed as of the acquisition date, the Company accounted for the amendment as a measurement period adjustment. Please refer to the table below for the impact of the reduction. Refer to Note 9 - Long-Term Debt for further information regarding the Promissory Note.

The acquisition of EDP has been accounted for as a business combination in accordance with ASC 805, Business Combinations. The Company has been treated as the accounting acquirer. Accordingly, EDP's tangible and identifiable intangible assets acquired and its liabilities assumed were recorded at their estimated fair values on the closing date.

The allocation of the purchase is as follows (in thousands):


	September 30, 2024		Measurement Period Adjustments			As adjusted September 30, 2024
Assets acquired:
Cash	$	79		—		$	79
Accounts receivable		1,451		—			1,451
Prepaids and other current assets		42		—			42
Property, plant and equipment		3,176		—			3,176
Operating lease right-of-use asset		325		—			325
Deferred tax assets		883		(28	)		855
Intangible assets		8,197		—			8,197
Total assets acquired		14,153		(28	)		14,125
Liabilities assumed:
Accounts payable		428		—			428
Accrued expenses and other current liabilities		1,014		—			876
Operating lease liabilities, less current portion		325		—			325
Deferred tax liabilities, net		2		1,908			1,910
Total liabilities assumed		1,769		1,908			3,539
Total identifiable net assets		12,384		(1,936	)		10,586
Goodwill		1,516		1,670			3,186
Total net assets acquired and goodwill	$	13,900	$	(266	)	$	13,634

The excess of the fair value of the consideration transferred over the fair values of the net identifiable tangible and intangible assets acquired has been assigned to goodwill. Goodwill represents the future benefits of acquiring EDP as the acquisition not only enhances DTI's competitive edge, but also reinforces its position as a leader in providing innovative drilling solutions to the global oil and gas industry. Goodwill will be evaluated for impairment at least annually. Goodwill attributable to the acquisition of EDP is not deductible for tax purposes. As of September 30, 2025, the Company is complete with the process of allocating the purchase price and valuing the acquired assets and liabilities assumed.

The Company incurred acquisition-related costs of $1.0 million during year ended December 31, 2024, which is included in other expense, net in the consolidated statements of comprehensive income (loss).

Titan Tools Group Limited

On January 2, 2025, the Company’s wholly owned subsidiary, Drilling Tools International, Inc., completed the acquisition of 100% of the shares of Titan Tools Group Limited (“Titan”). Titan is a full-service, down-hole tool rental company for land and offshore operations focused on wellbore construction rental items for both traditional hydrocarbon extraction and geothermal industries. Titan's primary operations are located in the United Kingdom, Europe, and Africa.

In accordance with the terms of the acquisition, the closing of the acquisition occurred on January 2, 2025 (the “Titan Closing Date” or “Titan Closing”) for total consideration of $10.8 million. The consideration for the acquisition of $10.8 million is comprised of the following items (in thousands):


Cash paid to Titan shareholders	$	6,002
Titan transaction costs to be paid by DTI		175
Closing date equity consideration(1)		2,922
Effective settlement of preexisting relationship between DTI and Titan (2)		1,675
Fair value of consideration transferred	$	10,774

(1) Represents the value, as of the Titan Closing Date, of the DTI common stock transferred as purchase consideration.

(2) Represents the effective settlement of DTI’s accounts receivable from Titan and DTI’s accounts payable to Titan as Titan and DTI were customers of each other prior to the Titan Closing.

The acquisition of Titan has been accounted for as a business combination in accordance with ASC 805, Business Combinations (“ASC 805”). Drilling Tools International, Inc. has been treated as the accounting acquirer. Accordingly, Titan’s tangible and identifiable intangible assets acquired, and its liabilities assumed were recorded at their estimated fair values on the closing date. The purchase price allocation for the acquisition is considered final as of December 31, 2025.

The allocation of the purchase price is as follows (in thousands):


Assets acquired:
Cash	$	559
Accounts receivable, net		3,670
Inventories		658
Prepaid expenses and other current assets		93
Property, plant and equipment, net		3,927
Operating lease right-of-use asset		919
Intangible assets, net		2,657
Total assets acquired		12,484
Liabilities assumed:
Accounts payable		1,090
Operating lease liabilities, current		226
Accrued expenses and other current liabilities		1,965
Operating lease liabilities, less current portion		694
Deferred tax liabilities, net		71
Total liabilities assumed		4,045
Total identifiable net assets		8,439
Goodwill		2,335
Total net assets acquired and goodwill	$	10,774

The excess of the fair value of the consideration transferred over the fair values of the net identifiable tangible and intangible assets acquired has been assigned to goodwill. Goodwill represents the future benefits of acquiring Titan as the acquisition not only enhances DTI's competitive edge, but also reinforces its position as a leader in providing innovative drilling solutions to the global oil and gas industry. Goodwill attributable to the acquisition of Titan is not deductible for tax purposes.


	Fair value		Useful life (in years)	Fair value methodology
Customer relationship	$	2,671	25	Multi-period Excess Earnings Method
Total intangible assets	$	2,671

The intangible assets acquired are expected to be amortized over their useful lives on a straight-line basis.

The Company incurred acquisition-related costs of $0.6 million and $0.6 million, respectively, during the years ended December 31, 2025 and 2024, which is included in other operating and non-operating expenses, net in the consolidated statements of comprehensive income (loss).

- Definition

The entire disclosure for business combination.

+ References

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+ Details

LEASES - Summary of Components of Lease Expense (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2025	Dec. 31, 2024
Lease, Cost [Abstract]
Operating Lease Cost	$ 6,995	$ 6,494
Short-term Lease Cost	126	136
Variable Lease Cost	440	382
Total Lease Cost	$ 7,561	$ 7,012

OTHER OPERATING AND NON-OPERATING EXPENSES, NET - Summary of Components of Other Expenses, Net (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2025	Dec. 31, 2024
Schedule Of Other Expenses [Line Items]
Transaction fees	$ 1,155	$ 7,036
Unrealized loss on foreign currency	541	0
Restructuring charges	1,814	0
Interest income	(398)	(197)
Software implementation	568	0
Other, net	974	664
Other operating and non-operating expenses, net	$ 4,654	$ 7,503

EARNINGS PER SHARE - Summary of Computation of Company's Basic and Diluted Net Earnings Per Share (Details) - USD ($) $ / shares in Units, $ in Thousands	12 Months Ended
	Dec. 31, 2025	Dec. 31, 2024
Numerator:
Net income (loss) attributable to Drilling Tools International stockholders	$ (3,761)	$ 3,014
Denominator
Weighted-average common shares used in computing earnings per share - basic	35,533,268	31,938,847
Weighted-average effect of potentially dilutive securities:
Weighted-average common shares outstanding - diluted	35,533,268	32,308,179
Earnings per share - basic	$ (0.11)	$ 0.09
Earnings per share - diluted	$ (0.11)	$ 0.09
Stock Options
Weighted-average effect of potentially dilutive securities:
Effect of potentially dilutive stock options	0	311,277
Performance-based Stock Options
Weighted-average effect of potentially dilutive securities:
Effect of potentially dilutive stock options	0	41,033
Restricted Stock Units
Weighted-average effect of potentially dilutive securities:
Effect of potentially dilutive restricted stock units	0	17,022

BUSINESS COMBINATIONS - Summary of Consideration for Merger (Details) - USD ($) $ in Thousands	Jan. 02, 2025	Oct. 03, 2024	Jul. 31, 2024
Superior Drilling Products, Inc
Business Combination [Line Items]
Fair value of consideration transferred			$ 47,900
European Drilling Projects B.V.
Business Combination [Line Items]
Fair value of consideration transferred		$ 13,900
Titan Tools Group Limited
Business Combination [Line Items]
Cash paid to Titan shareholders	$ 6,002
Titan transaction costs to be paid by DTI	175
Closing date equity consideration	2,922
Effective settlement of preexisting relationship between DTI and Titan	1,675
Fair value of consideration transferred	$ 10,774

- Definition

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

+ References

+ Details

LEASES - Summary of Future Undiscounted Cash Flows (Details) $ in Thousands	Dec. 31, 2025 USD ($)
Lessee, Operating Lease, Liability, to be Paid, Fiscal Year Maturity [Abstract]
2026	$ 6,150
2027	5,036
2028	4,431
2029	3,655
2030	3,514
Thereafter	12,762
Total lease payments	35,548
Less: imputed interest	(9,719)
Present value of lease liabilities	$ 25,829

INVESTMENTS - EQUITY SECURITIES (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2025	Dec. 31, 2024
Debt and Equity Securities, FV-NI [Line Items]
Proceeds from Sale of Equity Securities, FV-NI	$ 0	$ 1,244
Equity Securities, FV-NI, Realized Gain (Loss), Total	$ 0	$ (12)

BALANCE SHEET DETAILS - CURRENT ASSETS AND CURRENT LIABILITIES - Summary of Inventories (Details) - USD ($) $ in Thousands	Dec. 31, 2025	Dec. 31, 2024
Inventory, Net [Abstract]
Raw materials	$ 14,281	$ 12,777
Work in progress	672	1,828
Finished goods	3,196	2,897
Inventories	$ 18,149	$ 17,502

CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Dec. 31, 2025	Dec. 31, 2024
Assets, Current [Abstract]
Cash	$ 3,648	$ 6,185
Accounts receivable, net	37,683	39,606
Inventories	18,149	17,502
Prepaid expenses and other current assets	3,866	3,874
Total current assets	64,887	68,076
Property, plant and equipment, net	72,602	75,571
Operating lease right-of-use asset	25,181	22,718
Intangible assets, net	39,674	37,232
Goodwill	14,616	12,147
Deferred financing costs, net	468	817
Deposits and other long-term assets	917	1,608
Total assets	222,181	222,431
Current liabilities
Accounts payable	9,785	11,983
Accrued expenses and other current liabilities	10,711	7,864
Current portion of operating lease liabilities	4,335	4,121
Current maturities of long-term debt	5,989	6,995
Total current liabilities	30,820	30,963
Operating lease liabilities, less current portion	21,494	18,765
Revolving line of credit	25,000	27,142
Long-term debt, less current portion	14,827	19,676
Deferred tax liabilities, net	7,167	5,926
Total liabilities	99,308	102,472
Commitments and contingencies (See Note 14)
Shareholders' equity
Common stock, $0.0001 par value, shares authorized 500,000,000 as of December 31, 2025 and December 31, 2024, 35,661,297 issued and outstanding as of December 31, 2025 and 34,704,696 shares issued and outstanding as of December 31, 2024	4	3
Less: Treasury stock at cost, 505,169 and 0 shares as of December 31, 2025 and December 31, 2024, respectively	(1,265)
Additional paid-in-capital	130,801	125,415
Accumulated deficit	(7,343)	(3,582)
Accumulated other comprehensive income (loss)	664	(1,877)
Total Drilling Tools International stockholder's equity	122,861	119,959
Non-controlling interest	12
Total equity	122,873	119,959
Total liabilities and shareholders' equity	222,181	222,431
Related Party
Assets, Current [Abstract]
Related party note receivable, current	1,541	909
Related party note receivable, less current portion	$ 3,836	$ 4,262

PROPERTY, PLANT AND EQUIPMENT, NET - Summary of Component of Property, Plant and Equipment, Net (Details) - USD ($) $ in Thousands	Dec. 31, 2025	Dec. 31, 2024
Property, Plant and Equipment [Line Items]
Total property, plant and equipment	$ 227,317	$ 216,234
Less: accumulated depreciation	(156,382)	(142,203)
Property, plant and equipment, net (excluding construction in progress)	70,935	74,031
Construction in progress	1,667	1,540
Property, plant and equipment, net	72,602	75,571
Rental Tools and Equipment
Property, Plant and Equipment [Line Items]
Total property, plant and equipment	$ 215,596	205,939
Rental Tools and Equipment \| Minimum
Property, Plant and Equipment [Line Items]
Estimated useful lives (in years)	5 years
Rental Tools and Equipment \| Maximum
Property, Plant and Equipment [Line Items]
Estimated useful lives (in years)	10 years
Buildings and Improvements
Property, Plant and Equipment [Line Items]
Total property, plant and equipment	$ 7,876	7,074
Buildings and Improvements \| Minimum
Property, Plant and Equipment [Line Items]
Estimated useful lives (in years)	5 years
Buildings and Improvements \| Maximum
Property, Plant and Equipment [Line Items]
Estimated useful lives (in years)	40 years
Office Furniture, Fixtures and Equipment
Property, Plant and Equipment [Line Items]
Total property, plant and equipment	$ 3,153	2,507
Office Furniture, Fixtures and Equipment \| Minimum
Property, Plant and Equipment [Line Items]
Estimated useful lives (in years)	3 years
Office Furniture, Fixtures and Equipment \| Maximum
Property, Plant and Equipment [Line Items]
Estimated useful lives (in years)	5 years
Transportation and Equipment
Property, Plant and Equipment [Line Items]
Total property, plant and equipment	$ 691	$ 715
Transportation and Equipment \| Minimum
Property, Plant and Equipment [Line Items]
Estimated useful lives (in years)	3 years
Transportation and Equipment \| Maximum
Property, Plant and Equipment [Line Items]
Estimated useful lives (in years)	5 years

Debt - Schedule of Future Maturities of Long Term Debt (Details) $ in Thousands	Dec. 31, 2025 USD ($)
Long-Term Debt, Fiscal Year Maturity [Abstract]
2026	$ 5,989
2027	6,071
2028	6,159
2029	27,597
Total long term debt	$ 45,816

- Definition

Amount, after deduction of unamortized premium (discount) and debt issuance cost, of long-term debt. Excludes lease obligation.

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-SubTopic 210
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.7-03(a)(16)(a)(2))
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-URI https://asc.fasb.org/1943274/2147478777/944-210-S99-1

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-Section 50
-Paragraph 4
-Subparagraph (b)(3)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481139/470-20-50-4

+ Details

CONSOLIDATED STATEMENTS OF INCOME AND COMPREHENSIVE INCOME (LOSS) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2025	Dec. 31, 2024
Revenue, net:
Revenue, net	$ 159,626	$ 154,446
Costs and other deductions:
Selling, general, and administrative expense	82,239	78,695
Depreciation and amortization expense	27,290	23,832
Interest expense, net	5,053	3,369
Loss (gain) on asset disposal	65	(60)
Loss (gain) on remeasurement of previously held equity interest		(368)
Goodwill impairment	1,901	0
Other operating and non-operating expense, net	4,654	7,503
Total costs and other deductions	162,482	151,462
Income (loss) before income tax expense	(2,856)	2,984
Income tax benefit (expense)	(905)	30
Net income (loss)	(3,761)	3,014
Net income (loss) attributable to Drilling Tools International stockholders	$ (3,761)	$ 3,014
Basic earnings (loss) per share	$ (0.11)	$ 0.09
Diluted earnings (loss) per share	$ (0.11)	$ 0.09
Basic weighted-average common shares outstanding	35,533,268	31,938,847
Diluted weighted-average common shares outstanding	35,533,268	32,308,179
Comprehensive income (loss):
Net income (loss)	$ (3,761)	$ 3,014
Foreign currency translation adjustment, net of tax	2,541	(1,652)
Net comprehensive income (loss)	(1,220)	1,362
Tool Rental
Revenue, net:
Revenue, net	129,562	117,926
Costs and other deductions:
Cost of revenue, exclusive of depreciation and amortization	28,911	24,110
Product Sale
Revenue, net:
Revenue, net	30,064	36,520
Costs and other deductions:
Cost of revenue, exclusive of depreciation and amortization	$ 12,369	$ 14,381

INTANGIBLE ASSETS, NET

12 Months Ended

Dec. 31, 2025

Goodwill and Intangible Assets Disclosure [Abstract]

INTANGIBLE ASSETS, NET

NOTE 6 - INTANGIBLE ASSETS, NET

The following table shows the components of intangible assets, net (in thousands):


	Weighted-average remaining amortization period (in years)	December 31, 2025			December 31, 2024
Trade name	14.0	$	2,050		$	3,184
Developed technology	14.3		18,609			15,438
Customer relationships	19.4		24,180			21,081
Patents	11.8		12			11
Total intangible assets			44,850			39,714
Less: accumulated amortization			(5,176	)		(2,482	)
Intangible assets, net		$	39,674		$	37,232

Total amortization expense for the year ended December 31, 2025 and December 31, 2024 was approximately $2.7 million and $1.2 million, respectively.

INCOME TAXES - Summary of Income Tax Expense (Benefit) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2025	Dec. 31, 2024
Current provision for income taxes:
Federal	$ (268)	$ 1,271
Foreign	282	(1,107)
State	366	584
Total current	380	748
Deferred tax expense (benefit):
Federal	(617)	(1,078)
Foreign	1,101	480
State	41	(180)
Total deferred tax expense:	525	(778)
Income Tax Expense (Benefit), Amount	$ 905	$ (30)

STOCK-BASED COMPENSATION (Details) - USD ($)		12 Months Ended
STOCK-BASED COMPENSATION (Details) - USD ($)	Jun. 20, 2023	Dec. 31, 2025	Dec. 31, 2024	Dec. 31, 2023
Employee Stock Option
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Unrecognized compensation expense		$ 1,600,000
Contractual terms of awards		10 years
Number of shares exercised			68,470
Intrinsic value		$ 0
Share-based compensation arrangement by share-based payment award, options, outstanding, number		4,933,626	4,963,626	2,361,722
Employee Stock Option \| Selling, General, and Administrative Expenses
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Stock-based compensation expense		$ 1,500,000	$ 1,400,000
Employee Stock Option \| Minimum
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Vesting term		1 year
Employee Stock Option \| Maximum
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Vesting term		3 years
Restricted Stock Units
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Unrecognized compensation expense		$ 2,400,000
Stock-based compensation expense		$ 1,000,000	$ 700,000
Number of stock options vested		68,560
Share-based compensation arrangement by share-based payment award, options, outstanding, number		1,022,451	68,560
Restricted Stock Units \| Minimum
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Vesting term		1 year
Restricted Stock Units \| Maximum
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Vesting term		4 years
2023 Plan
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Maximum percentage of common stock issuable in accordance with outstanding Common stock	10.00%
Annual increase in percentage of common stock issuable in accordance with outstanding common stock	3.00%
Shares of common stock available for issuance		1,580,395

BALANCE SHEET DETAILS - CURRENT ASSETS AND CURRENT LIABILITIES

12 Months Ended

Dec. 31, 2025

Organization, Consolidation and Presentation of Financial Statements [Abstract]

BALANCE SHEET DETAILS - CURRENT ASSETS AND CURRENT LIABILITIES

NOTE 4 – BALANCE SHEET DETAILS - CURRENT ASSETS AND CURRENT LIABILITIES

Inventories

The following table shows the components of inventory (in thousands):


	December 31, 2025		December 31, 2024
Raw materials	$	14,281	$	12,777
Work in progress		672		1,828
Finished goods		3,196		2,897
Inventories		18,149		17,502

Prepaid expenses and other current assets

The following table shows the components of prepaid expenses and other current assets (in thousands):


	December 31, 2025		December 31, 2024
Prepaid expenses:
Deposits on inventory	$	1,020	$	551
Prepaid income tax		—		1,293
Prepaid insurance		891		958
Prepaid rent		445		449
Prepaid equipment		—		263
Prepaid other		334		361
Other current assets:
Income tax receivable		1,176		—
Total	$	3,866	$	3,874

Accrued expenses and other current liabilities

The following table shows the components of accrued expenses and other current liabilities (in thousands):


	December 31, 2025		December 31, 2024
Accrued expenses:
Accrued compensation and related benefits	$	5,662	$	4,497
Accrued insurance		616		645
Accrued professional services		210		253
Accrued inventory and property, plant, and equipment purchases		1,014		—
Accrued interest		493		416
Accrued property taxes		86		44
Accrued monitoring fee		504		373
Other		991		264
Other current liabilities:
Income tax payable		—		459
Sales tax payable		276		229
Unbilled lost-in-hole revenue		137		9
Deferred income		722		675
Total accrued expenses and other current liabilities	$	10,711	$	7,864

SHARE REPURCHASES - Summary of Share Purchases (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended			12 Months Ended
	Dec. 31, 2025	Sep. 30, 2025	Jun. 30, 2025	Dec. 31, 2025	Mar. 31, 2025
Share Repurchase Program [Abstract]
Total number of shares of Common Stock Purchases	42,650	259,908	202,611	505,169
Average price paid per share of Common Stock	$ 2.65	$ 2.09	$ 3	$ 2.5
Aggregate purchase price of Common Stock repurchases	$ 112,900	$ 544,467	$ 607,661	$ 1,265,029
Remaining aggregate value authorized for repurchase	$ 8,734,971	$ 8,847,872	$ 9,392,339	$ 8,734,971	$ 10,000,000

- Definition

Number of shares that have been repurchased during the period and have not been retired and are not held in treasury. Some state laws may govern the circumstances under which an entity may acquire its own stock and prescribe the accounting treatment therefore. This element is used when state law does not recognize treasury stock.

+ References + Details

- Definition

Equity impact of the value of stock that has been repurchased during the period and has not been retired and is not held in treasury. Some state laws may mandate the circumstances under which an entity may acquire its own stock and prescribe the accounting treatment therefore. This element is used when state law does not recognize treasury stock.

+ References + Details

RELATED PARTY TRANSACTIONS

12 Months Ended

Dec. 31, 2025

RELATED PARTY TRANSACTIONS

NOTE 13 – RELATED PARTY TRANSACTIONS

Management fees

For the years ended December 31, 2025 and 2024, management fees paid to Hicks Holdings Operating LLC, a shareholder of the Company, were approximately $0.8 million and $0.8 million, respectively. Management fees paid to the shareholder are included in selling, general and administrative expense in the accompanying consolidated statements of comprehensive income (loss).

Director fees

For the years ended December 31, 2025 and 2024, director fees paid to our Board of Directors were approximately $0.5 million and $0.6 million, respectively. Director fees are included in selling, general and administrative expense in the accompanying consolidated statements of comprehensive income (loss).

Related Party Note Receivable

On July 31, 2024 ("Closing Date"), the Company entered into the Sixth Amendment and Restated Promissory Note with Tronco Energy Corporation ("Tronco"), an entity owned by employees of the Company. The face value of the note is $6.5 million. Pursuant to the Sixth Amendment and Restated Promissory Note, Tronco will make payments to the Company annually, commencing on the first anniversary of the Closing Date through the fifth anniversary of the Closing Date. Per the agreement, if the 20-day volume-weighted average price of DTI falls below $3.20 per share, the principal that otherwise would have been due shall be deferred and apportioned over the remaining payment dates under specified in the agreement. The first payment due on July 31, 2025 was deferred as the 20-day volume-weighted average price of DTI was below $3.20 per share. Payment deferrals can continue for any period in which the 20-day-volume-weighted average price leading up to the anniversary date falls below $3.20 per share, up to the fifth anniversary. If at the 5th anniversary the 20-day-volume-weighted average price is below $3.20, the entire principal balance would be due upon the 6th anniversary. Any payments due and not received by the Company before the fifth date following the anniversary date will bear interest from the date of nonpayment until paid equal to 3%. In accordance with ASC 805, the receivable's fair value was measured at the present value of future cash flows upon the Closing Date. Based on the present value calculation, the note was discounted by $1 million. For the year ended December 31, 2025 and 2024, interest income recognized on the discounted note totaled $0.2 million and $0.2 million, respectively. The carrying value of the note as of December 31, 2025 and 2024 was $5.4 million and $5.2 million, respectively.

- Definition

The entire disclosure for related party transactions. Examples of related party transactions include transactions between (a) a parent company and its subsidiary; (b) subsidiaries of a common parent; (c) and entity and its principal owners; and (d) affiliates.

+ References

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+ Details

INTANGIBLE ASSETS, NET (Details) - USD ($) $ in Millions	12 Months Ended
INTANGIBLE ASSETS, NET (Details) - USD ($) $ in Millions	Dec. 31, 2025	Dec. 31, 2024
Indefinite-Lived Intangible Assets [Line Items]
Amortization expense	$ 2.7	$ 1.2

- Definition

The aggregate expense charged against earnings to allocate the cost of intangible assets (nonphysical assets not used in production) in a systematic and rational manner to the periods expected to benefit from such assets.

+ References

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- Definition

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

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+ Details

INCOME TAXES (Tables)

12 Months Ended

Dec. 31, 2025

Income Tax Disclosure [Abstract]

Schedule of Income (Loss) Before Provision for (Benefit From) Income Taxes

The geographical breakdown of the Company’s income (loss) from continuing operations before income tax expense (benefit) was as follows (in thousands):


	Year Ended December 31,
	2025			2024
Domestic	$	988		$	1,274
International		(3,844	)		1,710
Income (loss) before income tax expense	$	(2,856	)	$	2,984

Summary of Income Tax Expense (Benefit)

Income tax expense (benefit) consists of (in thousands):


	Year Ended December 31,
	2025			2024
Current tax expense:
Federal	$	(268	)	$	1,271
Foreign		282			(1,107	)
State		366			584
Total current		380			748
Deferred tax expense (benefit):
Federal		(617	)		(1,078	)
Foreign		1,101			480
State		41			(180	)
Total deferred tax expense:		525			(778	)
Total income tax expense (benefit)	$	905		$	(30	)

Schedule of Reconciliation of Federal Statutory Rate to Company's Effective Tax Rate

The following table presents a reconciliation of the federal statutory rate to the Company’s effective tax rate:


	Year Ended December 31, 2025
	Amount			%
US Federal Statutory Income Tax Rate	$	(600	)		21.0	%
State income taxes, net of federal effect(1)		334			-11.7	%
Tax credits
Research credits		(784	)		27.5	%
Nontaxable and nondeductible Items, net
Meals & Entertainment		133			-4.7	%
Transaction Costs		210			-7.4	%
Foreign Taxes		(78	)		2.7	%
Capital Gain		876			-30.7	%
Stock Comp (Windfall)		41			-1.4	%
367a Gain		63			-2.2	%
Goodwill Impairment		191			-6.7	%
Other Nontaxable and non-deductible items		10			-0.4	%
Return to provision and other true ups		(1,674	)		58.6	%
Other		(2	)		0.1	%
Foreign tax effects
Canada
Rate differential		32			-1.1	%
Payable true up		362			-12.7	%
Other		2			-0.1	%
Withholding		914			-32.0	%
Future withholding		(183	)		6.4	%
Germany
Rate differential		(10	)		0.4	%
Trade tax		81			-2.8	%
Netherlands
Rate differential		(27	)		0.9	%
Other		(81	)		2.8	%
United Kingdom
Rate differential		(196	)		6.9	%
Nontaxable and nondeductible Items, net
Patent Box Deduction		(78	)		2.7	%
Other		7			-0.2	%
Research credits		(16	)		0.6	%
Change in valuation allowance		1,299			-45.5	%
Other		15			-0.5	%
Kuwait
Branch income tax		64			-2.2	%
Effective tax rate	$	905			-31.7	%

(1) State taxes in Texas represented the majority (greater than 50 percent) of the tax effect in this category.


	December 31,
	2024
U.S. federal tax benefit at statutory rate		21.0	%
State taxes, net of federal benefit		12.7	%
Permanent differences		22.7	%
Permanent differences related to foreign items		-5.8	%
Transfer pricing		1.2	%
Foreign rate differential		1.4	%
Foreign taxes		-10.4	%
Valuation allowance		-0.3	%
Credits		-12.1	%
Income taxes deferred adjustment		27.0	%
Income taxes payable adjustment		-58.8	%
Other		0.4	%
Effective tax rate		-1.0	%

Schedule of Income Taxes Paid

The following table presents income taxes paid for the years ended December 31, 2025 and 2024 (in thousands):


	Year Ended December 31,
	2025		2024
Income taxes paid (net of refunds):
Federal	$	—	$	2,663
State:
New Mexico		—		175
Texas		495		435
Louisiana		70		22
Other		62		90
Total State		627		722
Foreign
Canada		797		—
Total cash paid for income tax	$	1,424	$	3,385

Schedule of Deferred Tax Assets and Deferred Tax Liabilities


	Year Ended December 31,
	2025			2024
Deferred tax assets
Net operating loss carryforward	$	8,213		$	3,488
Allowance for credit losses		296			321
Share-based compensation		2,262			1,800
Bonus accrual		151			70
Inventory		200			220
Intangible assets		—			1,815
Federal credits		784			3,252
Other		6,073			2,681
Gross deferred tax assets		17,979			13,647
Valuation allowance		(4,228	)		(3,019	)
Net deferred tax assets		13,751			10,628
Deferred tax liabilities
Depreciation on property, plant, and equipment		(10,750	)		(10,902	)
Withholding tax on unremitted earnings		(247	)		(431	)
Intangible assets		(4,277	)		—
Other		(5,643	)		(5,221	)
Deferred tax liabilities		(20,917	)		(16,554	)
Net deferred liabilities	$	(7,167	)	$	(5,926	)

INTANGIBLE ASSETS, NET (Tables)

12 Months Ended

Dec. 31, 2025

Goodwill and Intangible Assets Disclosure [Abstract]

Summary of Components of Intangible Assets, Net

The following table shows the components of intangible assets, net (in thousands):


	Weighted-average remaining amortization period (in years)	December 31, 2025			December 31, 2024
Trade name	14.0	$	2,050		$	3,184
Developed technology	14.3		18,609			15,438
Customer relationships	19.4		24,180			21,081
Patents	11.8		12			11
Total intangible assets			44,850			39,714
Less: accumulated amortization			(5,176	)		(2,482	)
Intangible assets, net		$	39,674		$	37,232

INCOME TAXES - Schedule of Reconciliation of Federal Statutory Rate to Company's Effective Tax Rate (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2025	Dec. 31, 2024
Effective Income Tax Rate Reconciliation [Line Items]
US Federal Statutory Income Tax Rate, Amount	$ (600)
US Federal Statutory Income Tax Rate, Percent	21.00%	21.00%
State income taxes, net of federal effect, Amount	$ 334
State income taxes, net of federal effect, Percent	(11.70%)	12.70%
Research credits, Amount	$ (784)
Research credits, Percent	27.50%
Meals & Entertainment, Amount	$ 133
Meals & Entertainment, Percent	(4.70%)
Transaction Costs, Amount	$ 210
Transaction Costs, Percent	(7.40%)
Foreign Taxes, Amount	$ (78)
Foreign Taxes, Percent	2.70%
Capital Gain, Amount	$ 876
Capital Gain, Percent	(30.70%)
Stock Comp (Windfall), Amount	$ 41
Stock Comp (Windfall), Percent	(1.40%)
367a Gain, Amount	$ 63
367a Gain, Percent	(2.20%)
Goodwill Impairment, Amount	$ 191
Goodwill Impairment, Percent	(6.70%)
Other Nontaxable and non-deductible items, Amount	$ 10
Other Nontaxable and non-deductible items, Percent	(0.40%)
Return to provision and other true ups, Amount	$ (1,674)
Return to provision and other true ups, Percent	58.60%
Other, Amount	$ (2)
Other, Percent	0.10%	0.40%
Permanent differences		22.70%
Permanent differences related to foreign items		(5.80%)
Transfer pricing		1.20%
Foreign taxes		(10.40%)
Credits		(12.10%)
Income taxes deferred adjustment		27.00%
Income taxes payable adjustment		(58.80%)
Change in valuation allowance, Percent		(0.30%)
Rate differential, Percent		1.40%
Income Tax Expense (Benefit), Amount	$ 905	$ (30)
Effective tax rate	(31.70%)	(1.00%)
Canada
Effective Income Tax Rate Reconciliation [Line Items]
Other, Amount	$ 2
Other, Percent	(0.10%)
Rate differential, Amount	$ 32
Rate differential, Percent	(1.10%)
Payable true up, Amount	$ 362
Payable true up, Percent	(12.70%)
Withholding, Amount	$ 914
Withholding, Percent	(32.00%)
Future withholding, Amount	$ (183)
Future withholding, Percent	6.40%
Germany
Effective Income Tax Rate Reconciliation [Line Items]
Rate differential, Amount	$ (10)
Rate differential, Percent	0.40%
Trade tax, Amount	$ 81
Trade tax, Percent	(2.80%)
Netherlands
Effective Income Tax Rate Reconciliation [Line Items]
Other, Amount	$ 15
Other, Percent	(0.50%)
Rate differential, Amount	$ (27)
Rate differential, Percent	0.90%
United Kingdom
Effective Income Tax Rate Reconciliation [Line Items]
Other Nontaxable and non-deductible items, Amount	$ 7
Other Nontaxable and non-deductible items, Percent	(0.20%)
Patent Box Deduction, Amount	$ (78)
Patent Box Deduction, Percent	2.70%
Research credits, Amount	$ (16)
Research credits, Percent	0.60%
Change in valuation allowance, Amount	$ 1,299
Change in valuation allowance, Percent	(45.50%)
Other, Amount	$ (81)
Other, Percent	2.80%
Rate differential, Amount	$ (196)
Rate differential, Percent	6.90%
Kuwait
Effective Income Tax Rate Reconciliation [Line Items]
Branch income tax, Amount	$ 64
Branch income tax, Percent	(2.20%)

INTANGIBLE ASSETS, NET - Summary of Components of Intangible Assets, Net (Details) - USD ($) $ in Thousands	Dec. 31, 2025	Dec. 31, 2024
Indefinite-Lived Intangible Assets [Line Items]
Total intangible assets	$ 44,850	$ 39,714
Less: accumulated amortization	(5,176)	(2,482)
Intangible assets, net	39,674	37,232
Trade Name
Indefinite-Lived Intangible Assets [Line Items]
Total intangible assets	$ 2,050	3,184
Weighted-average remaining amortization period (in years)	14 years
Developed Technology
Indefinite-Lived Intangible Assets [Line Items]
Total intangible assets	$ 18,609	15,438
Weighted-average remaining amortization period (in years)	14 years 3 months 18 days
Customer Relationships
Indefinite-Lived Intangible Assets [Line Items]
Total intangible assets	$ 24,180	21,081
Weighted-average remaining amortization period (in years)	19 years 4 months 24 days
Patents
Indefinite-Lived Intangible Assets [Line Items]
Total intangible assets	$ 12	$ 11
Weighted-average remaining amortization period (in years)	11 years 9 months 18 days

- Definition

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

+ References

+ Details

STOCK-BASED COMPENSATION - Summary of Stock Option Activity (Details) - Employee Stock Option - USD ($)	12 Months Ended
	Dec. 31, 2025	Dec. 31, 2024	Dec. 31, 2023
Share-Based Compensation Arrangement by Share-Based Payment Award, Options, Outstanding [Roll Forward]
OUTSTANDING, December 31, 2024	4,963,626	2,361,722
Number of shares granted		2,670,374
Number of shares exercised		(68,470)
Number of options forfeited	(30,000)
OUTSTANDING, December 31, 2025	4,933,626	4,963,626	2,361,722
UNVESTED, December 31, 2025	1,656,666
EXERCISABLE, December 31, 2025	3,276,960
Share-Based Compensation Arrangement by Share-Based Payment Award, Options, Outstanding, Weighted Average Exercise Price [Abstract]
Weighted average exercise price, beginning balance	$ 3.5	$ 4.02
Weighted average exercise price, Granted		3.04
Weighted average exercise price, Exercised		3.72
Weighted average exercise price, Forfeited	3.02
Weighted average exercise price, ending balance	3.5	$ 3.5	$ 4.02
Weighted average exercise price, Unvested	3.02
Weighted average exercise price, Exercisable	$ 3.75
Share-Based Compensation Arrangement by Share-Based Payment Award, Options, Additional Disclosures [Abstract]
Weighted Average Remaining Contractual Life (in Years)	4 years 11 months 19 days	3 years 1 month 13 days	3 years 4 months 13 days
Weighted average remaining contractual life (in years), unvested	8 years 1 month 17 days
Weighted average remaining contractual life (in years), exercisable	3 years 4 months 13 days
Aggregate Intrinsic Value	$ 0	$ 0	$ 0
Aggregate Intrinsic Value, Exercised		$ 0
Aggregate Intrinsic Value, Unvested	0
Aggregate intrinsic value, exercisable	$ 0

VARIABLE INTEREST ENTITY AND JOINT VENTURE ARRANGE

12 Months Ended

Dec. 31, 2025

Organization, Consolidation and Presentation of Financial Statements [Abstract]

VARIABLE INTEREST ENTITY AND JOINT VENTURE ARRANGEMENT

NOTE 2 - VARIABLE INTEREST ENTITY AND JOINT VENTURE ARRANGEMENT

On May 22, 2025, the Company, through its wholly owned subsidiary DTI Canada 1, LLC, entered into a Joint Venture and Shareholders’ Agreement with Upstream Energy SDN. BHD. (“Upstream Energy”), a Malaysian entity, to form Drilling Tools International SDN. BHD. (“DTI Malaysia”), a Malaysian corporation. The purpose of DTI Malaysia is to expand the Company’s geographic footprint to serve a broader customer base in the Asia-Pacific market.

Under the terms of the agreement, the Company contributed $11.6 thousand and Upstream Energy contributed $12.1 thousand to the initial share capital of $23.7 thousand, resulting in ownership interests of 49% and 51%, respectively. Despite holding a minority equity interest, the Company was appointed as the sole manager of DTI Malaysia under a separate Management Agreement, granting it full operational and financial control over the entity.

DTI Malaysia is considered a variable interest entity (“VIE”) under ASC 810 due to the disproportionality between DTI’s voting interest and its control and economic exposure. DTI has the power to direct the activities that most significantly impact the economic performance of DTI Malaysia and is entitled to receive substantially all the economic returns from its operations. As such, DTI is the primary beneficiary of DTI Malaysia and consolidates its financial results.

DTI consolidates 100% of DTI Malaysia’s assets, liabilities, revenues, and expenses. The portion of net assets and net income attributable to Upstream Energy is presented as a noncontrolling interest in the Company’s consolidated financial statements. There are no assets of DTI Malaysia that can be used only to settle its obligations nor are there liabilities for which creditors do not have recourse to the general credit of DTI.

Cybersecurity Risk Management, Strategy, and Governance	12 Months Ended
Cybersecurity Risk Management, Strategy, and Governance	Dec. 31, 2025
Cybersecurity Risk Management, Strategy, and Governance [Line Items]
Cybersecurity Risk Management Processes for Assessing, Identifying, and Managing Threats [Text Block]	Item 1C. Cybersecurity Risk Identification and Management The Company has a cybersecurity Risk Management Policy in place that governs the life cycle in which cybersecurity risks, including: • Risk Identification: through various initiatives performed, including, annual assessments, penetration tests, Incident Response tabletop exercises, vulnerability scans, system monitoring activities, and cybersecurity reviews of critical third-party vendor engagements, etc. • Risk Evaluation & Treatment: Identified issues, vulnerabilities, and exposures are captured within the Company’s Risk Register, which is updated periodically to reflect the most up to date treatment option selected by the Risk Owners. • Risk Reporting and Ongoing Management: Potentially material risks are shared as part of a monthly Cybersecurity Governance Forum, that’s attended by leadership. Risk Mitigations are tracked to completion through various project updates. The foundation of the Company’s cybersecurity framework is based on written policies that govern different process areas. Risks are identified through various processes that employees perform through their daily operations and are mitigated, managed and/or governed through these established processes. The Company is not aware of any cybersecurity risks that have materially affected or are reasonably likely to materially affect the Company’s business strategy, results of operations or financial condition. However, the Company cannot provide assurance that the Company will not be materially affected in the future by such risks or any future material incidents. Leveraging the Company’s Cybersecurity Risk Management & Governance process, it has identified cybersecurity risk factors that are inherent to the Company’s business and industry. The risk factors discussed in this section should be considered together with information included elsewhere in this Annual Report on Form 10-K and should not be considered the only risks to which the Company is exposed. Additionally, mitigation of these risk factors is tracked by management as part of the Cybersecurity Maturity Roadmap. • Disruptions in the Company’s supply chain could result in an adverse impact on results of operations. • Network compromise or equipment sabotage could impact the operations of the manufacturing or distribution sites which could impact the revenue. • Cybersecurity incidents, including breaches of confidential information, sensitive data, personal information, or intellectual property could damage the Company’s reputation, disrupt operations, increase costs, and impact revenues. • Nation state attacks due to current geopolitical and economic climate could impact oil and gas industry. Engagement of Third Parties The Company uses an IT Managed Service Provider in conjunction with a Cybersecurity Advisory firm to perform various functions, guiding the Company’s cybersecurity posture, and providing ongoing support to the Company’s cybersecurity program. The Company has Incident Response retainer services that can be leveraged, when needed. The Company uses a cybersecurity advisory firm to conduct annual risk assessments and penetration tests. Use Of Service Providers As part of its cybersecurity risk-management program, the Company has processes designed to identify and oversee cybersecurity risks related to third-party service providers, including risk-based diligence prior to engagement, the use of contractual information-security protections where appropriate, and ongoing monitoring of material vendor relationships. Board Oversight of Cybersecurity Matters The cybersecurity dashboard with roadmap progress is shared with the board of directors regularly, which includes actions completed and any topics that need board awareness / sponsorship such as approval of budgets which include cyber security project initiatives. An in-depth update regarding cyber security is discussed during quarterly meetings with the Audit Committee. The Audit Committee is ultimately responsible for overseeing management’s execution of the Company’s cybersecurity risk management program. The Chief Financial Officer (CFO) and designees are responsible for reviewing and approving the Cybersecurity Risk Management processes, or exceptions to such processes. External Counsel is consulted on legal matters related to Cybersecurity Risk or Incident Management as deemed necessary by leadership. Additionally, the Cybersecurity Risk Committee holds periodic Cybersecurity Governance Forums, in which detailed cybersecurity program updates and metrics are reported. The Company’s Chief Financial Officer and VP of Finance are responsible for the oversight and communication of cybersecurity threats and risks to the Company’s Board of Directors. They meet regularly with the Board of Directors where a Cybersecurity roadmap progress is shared with the board. The management team members responsible for overseeing cybersecurity risk have relevant experience in information technology, data security, and enterprise risk management gained through their professional roles, including overseeing third-party service providers and implementing policies and controls designed to manage technology-related risks.
Cybersecurity Risk Management Third Party Engaged [Flag]	true
Cybersecurity Risk Third Party Oversight and Identification Processes [Flag]	true
Cybersecurity Risk Materially Affected or Reasonably Likely to Materially Affect Registrant [Flag]	true
Cybersecurity Risk Materially Affected or Reasonably Likely to Materially Affect Registrant [Text Block]	The Company is not aware of any cybersecurity risks that have materially affected or are reasonably likely to materially affect the Company’s business strategy, results of operations or financial condition.
Cybersecurity Risk Board of Directors Oversight [Text Block]	Board Oversight of Cybersecurity Matters The cybersecurity dashboard with roadmap progress is shared with the board of directors regularly, which includes actions completed and any topics that need board awareness / sponsorship such as approval of budgets which include cyber security project initiatives. An in-depth update regarding cyber security is discussed during quarterly meetings with the Audit Committee. The Audit Committee is ultimately responsible for overseeing management’s execution of the Company’s cybersecurity risk management program. The Chief Financial Officer (CFO) and designees are responsible for reviewing and approving the Cybersecurity Risk Management processes, or exceptions to such processes. External Counsel is consulted on legal matters related to Cybersecurity Risk or Incident Management as deemed necessary by leadership. Additionally, the Cybersecurity Risk Committee holds periodic Cybersecurity Governance Forums, in which detailed cybersecurity program updates and metrics are reported. The Company’s Chief Financial Officer and VP of Finance are responsible for the oversight and communication of cybersecurity threats and risks to the Company’s Board of Directors. They meet regularly with the Board of Directors where a Cybersecurity roadmap progress is shared with the board. The management team members responsible for overseeing cybersecurity risk have relevant experience in information technology, data security, and enterprise risk management gained through their professional roles, including overseeing third-party service providers and implementing policies and controls designed to manage technology-related risks.
Cybersecurity Risk Board Committee or Subcommittee Responsible for Oversight [Text Block]	The Audit Committee is ultimately responsible for overseeing management’s execution of the Company’s cybersecurity risk management program.
Cybersecurity Risk Process for Informing Board Committee or Subcommittee Responsible for Oversight [Text Block]	Cybersecurity Risk Committee holds periodic Cybersecurity Governance Forums, in which detailed cybersecurity program updates and metrics are reported.
Cybersecurity Risk Management Positions or Committees Responsible [Flag]	true
Cybersecurity Risk Management Positions or Committees Responsible [Text Block]	The Company’s Chief Financial Officer and VP of Finance are responsible for the oversight and communication of cybersecurity threats and risks to the Company’s Board of Directors. They meet regularly with the Board of Directors where a Cybersecurity roadmap progress is shared with the board. The management team members responsible for overseeing cybersecurity risk have relevant experience in information technology, data security, and enterprise risk management gained through their professional roles, including overseeing third-party service providers and implementing policies and controls designed to manage technology-related risks.
Cybersecurity Risk Management Expertise of Management Responsible [Text Block]	The management team members responsible for overseeing cybersecurity risk have relevant experience in information technology, data security, and enterprise risk management gained through their professional roles, including overseeing third-party service providers and implementing policies and controls designed to manage technology-related risks.
Cybersecurity Risk Management Positions or Committees Responsible Report to Board [Flag]	true

SUPPLEMENTAL CASH FLOWS - Summary of Cash Flows Related to Income Taxes, Interest, Leases, Inventory Purchases and Capital Expenditures Included in Accounts Payable, Assumed Liabilities Acquired in a Business Combination and Other Non-cash Investing (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2025	Dec. 31, 2024
Noncash or Part Noncash Acquisitions [Line Items]
Cash paid for interest	$ 4,249	$ 2,673
Operating cash flows from operating leases	6,635	6,228
Cash paid for income taxes	1,424	3,385
Non-cash investing and financing activities:
Measurement period adjustment related to Acquisition	1,671	0
ROU assets obtained in exchange for operating lease liabilities	6,806	5,737
Purchases of inventory included in accounts payable and accrued expenses and other current liabilities	1,051	1,176
Purchases of property and equipment included in accounts payable and accrued expenses and other current liabilities	554	126
Non-cash recovery of note receivable	0	453
Net exercise of stock options	0	254
Shares withheld from exercise of stock options for payment of taxes	0	36
CTG
Non-cash investing and financing activities:
Fair value of liabilities assumed in Acquisition	0	3,162
SDPI
Non-cash investing and financing activities:
Fair value of liabilities assumed in Acquisition	0	6,246
Non-cash consideration in Acquisition	0	27,024
EDP
Non-cash investing and financing activities:
Fair value of liabilities assumed in Acquisition	0	1,769
Titan
Non-cash investing and financing activities:
Fair value of liabilities assumed in Acquisition	4,045	0
Non-cash consideration in Acquisition	$ 4,597	$ 0

CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2025	Dec. 31, 2024
Cash flows from operating activities:
Net income (loss)	$ (3,761)	$ 3,014
Adjustments to reconcile net income (loss) to net cash from operating activities:
Depreciation and amortization	27,290	23,832
Amortization of deferred financing costs	349	313
Non-cash lease expense	5,519	5,121
Unrealized loss on currency remeasurement	194	225
Write off of excess and obsolete inventory	797	0
Write off of property and equipment	720	0
Provision (recovery) for credit losses	584	424
Deferred tax expense/(benefit)	(539)	(778)
Loss (gain) on sale of property	59	(60)
Realized loss on equity securities	0	12
Unrealized (gain) loss on equity securities	0	(368)
Gain on sale of lost-in-hole equipment	(11,591)	(10,027)
Stock-based compensation expense	2,464	2,092
Interest Income on related party note receivable	(207)	(151)
Goodwill impairment	1,901	0
Changes in operating assets and liabilities:
Accounts receivable, net	4,026	(4,015)
Prepaid expenses and other current assets	1,993	874
Inventories	953	(4,320)
Operating lease liabilities	(4,871)	(4,832)
Accounts payable	(4,755)	(78)
Accrued expenses and other current liabilities	(1,202)	(5,220)
Net cash flows from operating activities	19,923	6,058
Cash flows from investing activities:
Acquisition of a business, net of cash acquired	(5,622)	(47,258)
Proceeds from sale of property and equipment	38	79
Purchase of property, plant and equipment	(20,147)	(22,892)
Proceeds from sale of lost-in-hole equipment	14,154	15,253
Proceeds from sale of equity securities	0	1,244
Purchases of intangible assets	(1,693)	(12)
Net cash flows from investing activities	(13,270)	(53,586)
Cash flows from financing activities:
Investment from non-controlling interest into VIE	12	0
Purchase of treasury stock	(1,265)	0
Payment of deferred financing costs	0	(722)
Proceeds from revolving line of credit	53,341	38,618
Payments on revolving line of credit	(55,483)	(11,476)
Repayment of promissory note	(903)	0
Proceeds from term loan	0	25,000
Payments on term loan	(5,000)	(3,535)
Net cash flows from financing activities	(9,298)	47,885
Effect of Changes in Foreign Exchange Rate	108	(175)
Net Change in Cash	(2,537)	182
Cash at Beginning of Period	6,185	6,003
Cash at End of Period	$ 3,648	$ 6,185

REVENUE - Summary of Disaggregation of Revenues by Category (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2025	Dec. 31, 2024
Disaggregation of Revenue [Line Items]
Total Revenue	$ 159,626	$ 154,446
Tool Rental Services
Disaggregation of Revenue [Line Items]
Total Revenue	129,562	117,926
Product Sales
Disaggregation of Revenue [Line Items]
Total Revenue	$ 30,064	$ 36,520

- Definition

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

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Amount, excluding tax collected from customer, of revenue from satisfaction of performance obligation by transferring promised good or service to customer. Tax collected from customer is tax assessed by governmental authority that is both imposed on and concurrent with specific revenue-producing transaction, including, but not limited to, sales, use, value added and excise.

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+ Details

CONSOLIDATED BALANCE SHEETS (Parenthetical) - $ / shares	Dec. 31, 2025	Dec. 31, 2024
Statement of Financial Position [Abstract]
Common stock, par value	$ 0.0001	$ 0.0001
Common stock, shares authorized	500,000,000	500,000,000
Common stock, shares issued	35,661,297	34,704,696
Common stock, shares outstanding	35,661,297	34,704,696
Treasury stock, shares	505,169	0

SHARE REPURCHASES

12 Months Ended

Dec. 31, 2025

Share Repurchase Program [Abstract]

SHARE REPURCHASES

NOTE 19 – SHARE REPURCHASES

On May 13, 2025, the Company announced a share repurchase program allowing the Company to purchase common stock held by non-affiliates, not to exceed $10.0 million in aggregate value. Share repurchases may take place in any transaction form as allowable by the SEC. The Board of Directors of the Company approved the plan to remain active until December 31, 2025.

Share repurchases by quarter for the year ended December 31, 2025 is summarized below:


Period	Total number of shares of Common Stock Purchases		Average price paid per share of Common Stock		Aggregate purchase price of Common Stock repurchases		Remaining aggregate value authorized for repurchase
First quarter 2025		—		—		—		10,000,000
Second quarter 2025		202,611		3.00		607,661		9,392,339
Third quarter 2025		259,908		2.09		544,467		8,847,872
Fourth quarter 2025		42,650		2.65		112,900		8,734,971
Total		505,169	$	2.50	$	1,265,029	$	8,734,971

SEGMENT INFORMATION

12 Months Ended

Dec. 31, 2025

Segment Reporting [Abstract]

SEGMENT INFORMATION

NOTE 17 – SEGMENT INFORMATION

Prior to the acquisition of Titan, we operated as a single operating segment which reflected how our business was managed. Upon completion of the acquisition, the Company split into two operating segments based on geography, Western Hemisphere and Eastern Hemisphere. Operating segments are identified as components of an enterprise about which discrete financial information is available for evaluation by the CODM in deciding resource allocation and assessing performance. The Company’s Chief Executive Officer serves as the CODM. The Company’s CODM reviews financial information disaggregated by hemisphere for the purposes of making operational decisions, allocating resources, and evaluating financial performance.

The Company’s two operating segments derives revenues from customers by providing oilfield equipment and services to operators in wellbore construction and casing installation. The CODM assesses performance for each segment individually and decides how to allocate resources by using Segment EBITDA, which is defined as net income (loss) excluding interest income, interest expense, other operating and non-operating expense, net, income tax benefit (expense), depreciation and amortization, and unallocated corporate general and administrative expenses, including stock-based compensation and monitoring fees. Additionally, the Company’s CODM total segment assets and capital expenditures by segment regularly in making operational decisions. The CODM uses these metrics in the annual budget and forecasting process. The CODM considers budget-to-actual variances on a quarterly basis to forecast future performance, adjust the budget, and make decisions about the allocation of operating and capital resources to the segment.

Financial information by segment for the years ended December 31, 2025 and 2024 is summarized below:


	For the Year Ended December 31, 2025
	Western Hemisphere		Eastern Hemisphere		Total
Tool Rental		117,670		20,525		138,194
Product Sales		30,899		2,952		33,851
Total Revenue		148,569		23,476		172,045
Reconciliation of revenue
Elimination of intersegment revenue						(12,420	)
Total consolidated revenue						159,626
Less:(1)
Cost of Tool Rental		28,971		8,573		37,544
Cost of Product Sales		13,723		2,432		16,156
Total Cost of Sales		42,694		11,005		53,700
Reconciliation of cost of revenue
Elimination of intersegment cost of revenue						(12,420	)
Total consolidated cost of revenue						41,280
Selling, general, administrative expenses		56,380		11,938		68,319
Segment EBITDA		49,494		533		50,027
Reconciliation of segment profit
Corporate expenses(2)						10,706
Depreciation and amortization						27,290
Stock-based compensation						2,464
Monitoring fees						750
Transaction expenses						1,155
Goodwill impairment						1,901
Other expenses						8,616
Consolidated loss before taxes						(2,856	)


	For the Year Ended December 31, 2024
	Western Hemisphere		Eastern Hemisphere		Total
Tool Rental		125,291		3,537		128,828
Product Sales		27,118		9,669		36,787
Total Revenue		152,409		13,206		165,615
Reconciliation of revenue
Elimination of intersegment revenue						(11,169	)
Total consolidated revenue						154,446
Less:(1)
Cost of Tool Rental		34,132		1,113		35,245
Cost of Product Sales		9,710		4,705		14,415
Total Cost of Sales		43,842		5,818		49,660
Reconciliation of cost of revenue
Elimination of intersegment cost of revenue						(11,169	)
Total consolidated cost of revenue						38,491
Selling, general, administrative expenses		57,109		6,082		63,191
Segment EBITDA		51,458		1,306		52,764
Reconciliation of segment profit
Corporate expenses(2)						12,662
Depreciation and amortization						23,832
Stock-based compensation						2,092
Monitoring fees						750
Transaction expenses						7,036
Goodwill impairment						—
Other expenses						3,407
Consolidated loss before taxes						2,984

(1) The significant expense categories and amounts align with the segment-level information that is regularly provided to the chief operating decision maker

(2) Comprised primarily of expenses not allocated to our geographical segments.

Additional financial information by operating segment as of December 31, 2025 and 2024 is summarized below:


	December 31,
	2025		2024
Capital Expenditures
Western Hemisphere	$	14,921	$	21,945
Eastern Hemisphere		5,225		947
Total capital expenditures		20,147		22,892
Segment Assets(1):
Western Hemisphere	$	154,932	$	171,857
Eastern Hemisphere		57,756		40,761
Total segment assets		212,687		212,618
Corporate and other(2)		9,494		9,813
Total assets	$	222,181	$	222,431

(2) Corporate assets consists of cash, related party notes receivables, and deferred financing costs.

- Definition

The entire disclosure for reporting segments including data and tables. Reportable segments include those that meet any of the following quantitative thresholds a) it's reported revenue, including sales to external customers and intersegment sales or transfers is 10 percent or more of the combined revenue, internal and external, of all operating segments b) the absolute amount of its reported profit or loss is 10 percent or more of the greater, in absolute amount of 1) the combined reported profit of all operating segments that did not report a loss or 2) the combined reported loss of all operating segments that did report a loss c) its assets are 10 percent or more of the combined assets of all operating segments.

+ References

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+ Details

DEBT

12 Months Ended

Dec. 31, 2025

Line of Credit Facility [Abstract]

DEBT

NOTE 9 – DEBT

Credit Facility

In December 2015, the Company entered into a revolving credit facility with PNC Bank, National Association (the "Existing Credit Facility"). The facility provided for a revolving line of credit with a maximum borrowing amount totaling $60.0 million.

On March 15, 2024, the Company refinanced its revolving credit facility (the “Refinancing”) by entering into a Second Amended and Restated Revolving Credit, Term Loan and Security and Guaranty Agreement (the “Credit Facility”) with certain of the Company’s subsidiaries and PNC Bank, National Association as lender and as agent. Pursuant to the terms of the Credit Facility, the Company will be provided a revolving line of credit (the "Revolving Line of Credit") in a principal amount up to $80.0 million and a single draw term loan (the "Term Loan") in a principal amount of $25.0 million. The Revolving Line of Credit and the Term Loan mature in March 2029. The Credit Facility amends and restates the Company’s Existing Credit Facility under that certain Amended and Restated Revolving Credit, Term Loan, and Security Agreement, dated as of June 20, 2023, by and among the Company, certain of its subsidiaries, and PNC Bank National Association. Additionally, the Company is required to make an annual payment of up to $5.0 million, to be determined based on the excess cash flows generated each fiscal year commencing with the year ended December 31, 2024, as defined in the Credit Facility.

For the year ended December 31, 2025, the interest on the amount drawn on the Revolving Line of Credit and the Term Loan were based on the Secured Overnight Financing Rate ("SOFR") or the bank’s base lending rate plus applicable margin (approximately 6.46% and 8.28%, respectively, at December 31, 2025 ). The Credit Facility is collateralized by substantially all the assets of the Company.

As of December 31, 2025 , the Company has drawn $25.0 million against the line of credit. As of December 31, 2025, the term loan has a balance of $16.7 million.

Promissory Note

In connection with acquisition of EDP, the Company issued an unsecured Promissory Note to the former parent company of EDP, totaling $5.2 million. On April 22, 2025, the First Amendment to the note was signed, reducing the balance by $0.3 million. The note bears an interest rate of 8% per annum. The note matures in December 2029 and payments are made quarterly. The note is a foreign currency denominated monetary liability (issuance and payments are denominated in Euro), and as such, is measured at the end of each reporting period based on the exchange rate at that date. The remaining balance on the Promissory Note was $4.1 million as of December 31, 2025. For the years ended December 31, 2025 and December 31, 2024, the Company recognized a loss of $0.3 million and $0.0 million, respectively, on the consolidated statements of comprehensive income (loss).

As of December 31, 2025, the future maturities of long-term debt consisted of the following (in thousands):


2026	$	5,989
2027		6,071
2028		6,159
2029		27,597
Thereafter		—
Total long term debt	$	45,816

Contingent Interest Embedded Derivative Liability

Under the Credit Facility Agreement, the interest rate will reset (the 'Default Rate') upon the event of a default and an additional 2% will be added to the base rate. The Company analyzed the Default Rate feature of the Credit Facility for derivative accounting consideration under ASC 815, Derivatives and Hedging, and determined the Default Rate met the definition of a derivative as it is a contingent interest feature. The Company also noted that the Default Rate feature (the 'Default Rate Derivative') required bifurcation from the host contract and was to be accounted for at fair value. In accordance with ASC 815-15, the Company bifurcated the Default Rate feature of the note and determined the derivative is liability classified.

The Default Rate Derivative is treated as a liability, initially measured at fair value with subsequent changes in fair value recorded in earnings. Management has assessed the probability of occurrence for a non-credit default event and determined the likelihood of a referenced event to be remote. Therefore, the estimated fair value of the Default Rate Derivative was negligible as of December 31, 2025 and 2024 and, therefore, no amounts were recorded

- Definition

The entire disclosure for information about short-term and long-term debt arrangements, which includes amounts of borrowings under each line of credit, note payable, commercial paper issue, bonds indenture, debenture issue, own-share lending arrangements and any other contractual agreement to repay funds, and about the underlying arrangements, rationale for a classification as long-term, including repayment terms, interest rates, collateral provided, restrictions on use of assets and activities, whether or not in compliance with debt covenants, and other matters important to users of the financial statements, such as the effects of refinancing and noncompliance with debt covenants.

+ References

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+ Details

SUPPLEMENTAL CASH FLOWS

12 Months Ended

Dec. 31, 2025

Supplemental Cash Flow Elements [Abstract]

SUPPLEMENTAL CASH FLOWS

NOTE 18 – SUPPLEMENTAL CASH FLOWS


	Year Ended December 31,
	2025		2024
Supplemental cash flow information:
Cash paid for interest	$	4,249	$	2,673
Operating cash flows from operating leases		6,635		6,228
Non-cash investing and financing activities:
Measurement period adjustment related to EDP Acquisition		1,671		—
ROU assets obtained in exchange for lease liabilities		6,806		5,737
Fair value of CTG liabilities assumed in CTG Acquisition		—		3,162
Fair value of SDPI liabilities assumed in SDPI Acquisition		—		6,246
Fair value of EDP liabilities assumed in EDP Acquisition		—		1,769
Fair value of Titan liabilities assumed in Titan Acquisition		4,045		—
Non-cash consideration in SDPI Acquisition		—		27,024
Non-cash consideration in Titan Acquisition		4,597		—
Purchases of inventory included in accounts payable and accrued expenses and other current liabilities		1,051		1,176
Purchases of property and equipment included in accounts payable and accrued expenses and other current liabilities		554		126
Non-cash recovery of note receivable		—		453
Net exercise of stock options		—		254
Shares withheld from exercise of stock options for payment of taxes		—		36

CONSOLIDATED STATEMENTS OF CHANGES IN SHAREHOLDERS' EQUITY - USD ($) $ in Thousands	Total	Common Stock	Treasury Stock	Additional Paid-In Capital	Accumulated Deficit	Accumulated Other Comprehensive Income (Loss)	Total Drilling Tools International Shareholders' Equity	Non-controlling Interest
Beginning balance at Dec. 31, 2023	$ 88,690	$ 3		$ 95,218	$ (6,306)	$ (225)	$ 88,690
Beginning balance, shares at Dec. 31, 2023		29,768,568
Stock-based compensation	1,647			1,647			1,647
Shares issued due to vesting of restricted stock units	443			443			443
Shares issued due to vesting of restricted stock units, shares		74,440
Exercise of stock options	(35)			255	(290)		(35)
Exercise of stock options, shares		16,556
Issuance of Common Stock related to business combination	27,714			27,714			27,714
Issuance of Common Stock related to business combination, shares		4,845,132
Accelerated vesting of substitute stock options	138			138			138
Foreign currency translation adjustment, net of tax	(1,652)					(1,652)	(1,652)
Net Income (Loss)	3,014				3,014		3,014
Ending balance at Dec. 31, 2024	$ 119,959	$ 3		125,415	(3,582)	(1,877)	119,959
Ending balance, shares at Dec. 31, 2024		34,704,696
Ending balance, shares at Dec. 31, 2024	0
Stock-based compensation	$ 2,478			2,478			2,478
Shares issued due to vesting of restricted stock units, shares		68,560
Forfeiture of restricted stock units	(14)			(14)			(14)
Issuance of Common Stock related to business combination	2,923	$ 1		2,922			2,923
Issuance of Common Stock related to business combination, shares		888,041
Purchase of treasury stock	(1,265)		$ (1,265)				(1,265)
Purchase of treasury stock, shares			505,169
Initial recognition of noncontrolling interest	12							$ 12
Foreign currency translation adjustment, net of tax	2,541					2,541	2,541
Net Income (Loss)	(3,761)				(3,761)		(3,761)
Ending balance at Dec. 31, 2025	$ 122,873	$ 4	$ (1,265)	$ 130,801	$ (7,343)	$ 664	$ 122,861	$ 12
Ending balance, shares at Dec. 31, 2025		35,661,297
Ending balance, shares at Dec. 31, 2025	505,169		505,169

INCOME TAXES (Details) - USD ($) $ in Millions	Dec. 31, 2025	Dec. 31, 2024
Schedule Of Income Taxes Reconciliation [Line Items]
Operating loss carryforwards	$ 2.8	$ 0.0
State and Local Jurisdiction
Schedule Of Income Taxes Reconciliation [Line Items]
Operating loss carryforwards	$ 0.6	$ 7.0

EMPLOYEE BENEFIT PLANS (Details) - USD ($) $ in Millions	12 Months Ended
EMPLOYEE BENEFIT PLANS (Details) - USD ($) $ in Millions	Dec. 31, 2025	Dec. 31, 2024
Defined Benefit Plan [Abstract]
Defined contribution plan nature and effect of change, description	The Company sponsors various defined contribution savings plan, primarily in the U.S., that allow employees to contribute a portion of their pre-tax and/or after-tax income in accordance with specified guidelines. Under specified conditions, the Company will make contributions to the plans and/or match a percentage of the employee contributions up to certain limits. The total expense for the years ended December 31, 2025 and 2024 was approximately $0.8 million and $0.7 million, respectively.
Defined contribution expense	$ 0.8	$ 0.7

PROPERTY, PLANT AND EQUIPMENT, NET (Tables)

12 Months Ended

Dec. 31, 2025

Property, Plant and Equipment [Abstract]

Summary of Component of Property, Plant and Equipment, Net

The following table shows the component of property, plant and equipment, net (in thousands):


	Estimated Useful Lives (in Years)	December 31, 2025			December 31, 2024
Rental tools and equipment	5-10	$	215,596		$	205,939
Buildings and improvements	5-40		7,876			7,074
Office furniture, fixtures and equipment	3-5		3,153			2,507
Transportation and equipment	3-5		691			715
Total property, plant and equipment			227,317			216,234
Less: accumulated depreciation			(156,382	)		(142,203	)
Property, plant and equipment, net (excluding construction in progress)			70,935			74,031
Construction in progress			1,667			1,540
Property, plant and equipment, net		$	72,602		$	75,571

REVENUE - (Details) - USD ($) $ in Thousands	12 Months Ended
REVENUE - (Details) - USD ($) $ in Thousands	Dec. 31, 2025	Dec. 31, 2024
Disaggregation of Revenue [Line Items]
Revenue, net	$ 159,626	$ 154,446

- Definition

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

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+ Details

BALANCE SHEET DETAILS - CURRENT ASSETS AND CURRENT LIABILITIES - Summary of Prepaid Expenses and Other Current Assets (Details) - USD ($) $ in Thousands	Dec. 31, 2025	Dec. 31, 2024
Prepaid expenses:
Deposits on inventory	$ 1,020	$ 551
Prepaid income tax	0	1,293
Prepaid insurance	891	958
Prepaid rent	445	449
Prepaid equipment	0	263
Prepaid other	334	361
Other current assets:
Income tax receivable	1,176	0
Total	$ 3,866	$ 3,874

DEBT (Details) - USD ($)			12 Months Ended
DEBT (Details) - USD ($)	Oct. 03, 2024	Mar. 15, 2024	Dec. 31, 2025	Dec. 31, 2024	Apr. 22, 2025
Line of Credit Facility [Line Items]
Date the credit facility matures		Mar. 31, 2029
Term loan			$ 16,700,000
Unsecured promissory note			4,100,000
Revolving Credit Facility
Line of Credit Facility [Line Items]
Revolving line of credit		$ 80,000,000	$ 60,000,000
Credit Facility, collateral			The Credit Facility is collateralized by substantially all the assets of the Company.
Line of credit		$ 25,000,000	$ 25,000,000
Revolving Credit Facility \| Maximum
Line of Credit Facility [Line Items]
Credit facility annual payment			$ 5
Revolving Credit Facility \| SOFR
Line of Credit Facility [Line Items]
Basis spread on variable rate (as a percent)			6.46%
Revolving Credit Facility \| Base Rate
Line of Credit Facility [Line Items]
Basis spread on variable rate (as a percent)			2.00%
Outstanding Term Loan Balance \| SOFR
Line of Credit Facility [Line Items]
Basis spread on variable rate (as a percent)			8.28%
European Drilling Projects B.V.
Line of Credit Facility [Line Items]
Reduce in unsecured promissory note					$ 300,000
Unsecured promissory note	$ 5,200,000
Stated interest rate	8.00%
Notes payable, maturity date	Dec. 31, 2029
Frequency of periodic payments	quarterly
Gain (loss) on the condensed consolidated statements of comprehensive income (loss)			$ 300,000	$ 0

EARNINGS PER SHARE - Summary of Company's Potentially Dilutive Securities Excluded (Details) - shares	12 Months Ended
	Dec. 31, 2025	Dec. 31, 2024
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Total	5,986,077	140,135
Performance-based Options Outstanding
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Total	534,063	0
Stock Options
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Total	4,429,563	140,135
Restricted Stock Units Outstanding
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Total	1,022,451	0

OTHER OPERATING AND NON-OPERATING EXPENSES, NET

12 Months Ended

Dec. 31, 2025

Other Income and Expenses [Abstract]

OTHER OPERATING AND NON-OPERATING EXPENSES, NET

NOTE 12 – OTHER OPERATING AND NON-OPERATING EXPENSES, NET

The following table shows the components of other operating and non-operating expenses, net for the years ended December 31, 2025 and 2024 (in thousands):


	Year Ended December 31, 2025			Year Ended December 31, 2024
Transaction fees	$	1,155		$	7,036
Unrealized loss on foreign currency		541			—
Restructuring charges		1,814			—
Interest income		(398	)		(197	)
Software implementation		568			—
Other, net		974			664
Other operating and non-operating expenses, net	$	4,654		$	7,503