Innovex International, Inc. (NYSE: INVX) announced its financial results for the third quarter of 2026 on October 29, 2026. The company reported revenue of $265 million for the quarter ended September 30, 2026. This figure represents an 8% increase from the previous quarter and a 10% increase compared to the same period in the prior year.
Net income for the quarter was $26 million, resulting in a net income margin of 10%. The company reported Adjusted EBITDA of $55 million, with an Adjusted EBITDA margin of 21%. Net cash provided by operating activities totaled $39 million, and Free Cash Flow was $32 million.
Innovex ended the quarter with approximately $189 million in cash and cash equivalents and no bank debt. The company also reported a Return on Capital Employed (ROCE) of 10% for the twelve months ended September 30, 2026.
Regarding operational awards, Innovex secured a $30+ million subsea wellhead contract with a major international operator in Indonesia and an additional $9+ million in subsea work through its OneSubsea Alliance. The company also supported the installation of its 20K psi wellhead system for a major operator offshore the United States.
For the fourth quarter of 2026, Innovex provided guidance expecting total revenue between $260 million and $270 million and Adjusted EBITDA between $53 million and $58 million.
