Drilling Tools International (NASDAQ:DTI) reported second-quarter 2026 revenue of $38.1 million, adjusted EBITDA of $8.4 million and adjusted free cash flow of $4.1 million, as the company navigated lower global drilling activity and operational disruptions in the Middle East.
Net loss attributable to stockholders was approximately $1.8 million, or $0.05 per share, during the quarter
Adjusted net loss was $575,000, or $0.02 per share. Tool rental revenue totaled $29.6 million, while product sales revenue was $8.5 million. Chairman and Chief Executive Officer Wayne Prejean said the company generated resilient results despite a nearly 4% sequential decline in the global rig count.
He said Middle Eastern rig activity declined almost 7% during the quarter and represented about half of the global decline affecting activity levels. North American Activity Improved Late in the Quarter Prejean said North American activity was affected early in the quarter by Canada’s seasonal breakup period, which removed roughly 50 rigs from the regional count in April. U.S. operators also broadly held activity flat while assessing the impact and duration of the Iran conflict, he said.