EARNINGS PER SHARE - Summary of Computation of Company's Basic and Diluted Net Earnings Per Share (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended
	Mar. 31, 2026	Mar. 31, 2025
Numerator:
Net income (loss) attributable to Drilling Tools International stockholders	$ (1,540)	$ (1,669)
Denominator
Weighted-average common shares used in computing earnings per share - basic	35,116,094	35,592,737
Weighted-average effect of potentially dilutive securities:
Weighted-average common shares outstanding - diluted	35,116,094	35,592,737
Earnings (loss) per share - basic	$ (0.04)	$ (0.05)
Earnings (loss) per share - diluted	$ (0.04)	$ (0.05)
Time-based Stock Options
Weighted-average effect of potentially dilutive securities:
Effect of potentially dilutive stock options	0	0
Performance-based Stock Options
Weighted-average effect of potentially dilutive securities:
Effect of potentially dilutive stock options	0	0
Restricted Stock Units
Weighted-average effect of potentially dilutive securities:
Effect of potentially dilutive restricted stock units	0	0

VARIABLE INTEREST ENTITY AND JOINT VENTURE ARRANGEMENT (Details) - USD ($)	May 22, 2025	Mar. 31, 2026	Dec. 31, 2025	Mar. 31, 2025
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		$ 224,700,000	$ 222,181,000	$ 233,169,000
Liabilities		$ 104,267,000	$ 99,308,000
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

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

3 Months Ended

Mar. 31, 2026

Accounting Policies [Abstract]

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

NOTE 1 – SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

Organization and Nature of Operations

Drilling Tools International Corporation, a Delaware corporation ("DTIC" or the "Company"), is a global oilfield services company that designs, engineers, manufactures and provides a differentiated, rental-focused offering of tools for use in onshore and offshore horizontal and directional drilling operations, as well as other cutting-edge solutions across the well life cycle.

The Company’s United States (“U.S.”) operations have locations in Texas, Louisiana, Oklahoma, Pennsylvania, North Dakota, New Mexico, Utah, and Wyoming. The Company’s international operations are located in Canada, the United Kingdom, Europe, the Middle East, and Asia-Pacific. Operations outside the U.S. are subject to risks inherent in operating under different legal systems and various political and economic environments. Among the risks are changes in existing tax laws and possible limitations on foreign investment. The Company does not engage in hedging activities to mitigate its exposure to fluctuations in foreign currency exchange rates.

Basis of Presentation

The accompanying unaudited condensed 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 unaudited condensed consolidated financial statements are to the FASB Accounting Standards Codification (“ASC”) and Accounting Standards Update (“ASU”).

Unaudited Interim Financial Information

The accompanying interim unaudited condensed consolidated financial statements included in this quarterly report have been prepared in accordance with U.S. GAAP and, in the opinion of the Company, contain all adjustments, consisting of only normal recurring adjustments, necessary for a fair statement of its financial position as of March 31, 2026, and its results of operations for the three months ended March 31, 2026 and 2025, and cash flows for the three months ended March 31, 2026 and 2025. The condensed consolidated balance sheet at December 31, 2025, was derived from the audited annual financial statements but does not contain all of the footnote disclosures from the annual financial statements.

During the year ended December 31, 2025, the Company changed the presentation of its interim condensed 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 unaudited condensed 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 unaudited condensed consolidated financial statements and accompanying notes as of the date of the unaudited condensed 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 numerous geopolitical 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 unaudited condensed 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 entities, Casing Technologies Group Limited and Titan Tools Services, which operate 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 Translation 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 unaudited condensed 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 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 unaudited condensed consolidated statements of comprehensive income (loss).

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 and liabilities acquired. 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). 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. The Company’s lease revenues do not include material amounts of variable payments. 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, and other charges for made to order product sales. 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 Contract Liabilities

Contract assets represent the Company’s rights to consideration for work completed but not billed. Contract assets were recorded in accounts receivable, net in the accompanying unaudited condensed consolidated balance sheets. The changes in contract assets for the year ended December 31, 2025 and three months ended March 31, 2026 were as follows (in thousands):


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
Revenue recognized from contract assets		10,583
Conversion of contract assets into accounts receivable		(9,502	)
Balance at March 31, 2026		8,277

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 March 31, 2026, December 31, 2025 and December 31, 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 March 31, 2026 and December 31, 2025.

Accounts Receivable and Allowance for Credit Losses

The Company’s accounts receivable consists principally of uncollateralized amounts billed to customers as well as contract assets for work complete but not yet billed. 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 accounts receivable, net on the unaudited condensed 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 the three months ended March 31, 2026 were as follows (in thousands):


Balance at December 31, 2024	$	(1,690	)
Provisions for expected credit losses		(595	)
Foreign currency adjustments		(130	)
Utilization of allowance for credit losses		213
Balance at December 31, 2025	$	(2,202	)
Provisions for expected credit losses		(313	)
Foreign currency adjustments		52
Utilization of allowances for credit losses		-
Balance at March 31, 2026	$	(2,462	)

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 three months ended March 31, 2026 and 2025, the Company generated approximately 29% and 29%, respectively, of its revenue from 2 customers. Amounts due from these customers included in accounts receivable at March 31, 2026 and December 31, 2025 were approximately $4.6 million and $5.7 million, respectively.

During the three months ended March 31, 2026 and 2025, the Company did not have any vendors that represented over 10% of total purchases.

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 unaudited condensed

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, net

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 with subsequent additions at cost.

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 expense 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 loss (gain) on asset disposal.

Impairment of Long-lived Assets

Long-lived assets with finite lives include property, plant and equipment 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. 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 by which the carrying amount of the assets exceeds the fair value of the asset or asset group. During the three months ended March 31, 2026, management determined that there were no triggering events necessitating impairment testing of property, plant and equipment, net.

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 unaudited condensed 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 reassessas 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 Accounting Standards Codification 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 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 unaudited condensed consolidated statements of comprehensive income (loss).

Intangible Assets

Intangible assets with finite useful lives include customer relationships, trade name, patents, and developed technology. 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. The Company assesses goodwill impairment annually on October 31. 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.

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. 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. 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 March 31, 2026 and December 31, 2025, the Company did not have any Level 1, 2 or 3 assets or liabilities measured on a recurring basis.

Fair value of Financial Instruments

The Company's financial instruments consist 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 unaudited condensed 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 unaudited condensed 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.

For performance 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. The Company applies a graded vesting attribution method, recognizing expense over the entire tranche of awards and updating the estimate of probable achievement of performance conditions at each reporting period. Changes in estimated outcomes are recognized prospectively through cumulative catch-up adjustments to compensation expense.

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 unaudited condensed 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 are 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, restricted stock units, and performance-based awards 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 unaudited condensed 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 unaudited condensed 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.

Each uncertain tax position is assessed using a two-step process. A determination is first made 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 unaudited condensed 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 March 31, 2026 and December 31, 2025. 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 unaudited condensed consolidated statements of comprehensive income (loss) for the three months ended March 31, 2026 and 2025.

Operating Segments

Operating 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 operating 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 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.

Insider Trading Arrangements	3 Months Ended
Insider Trading Arrangements	Mar. 31, 2026
Trading Arrangements, by Individual
Material Terms of Trading Arrangement	During the three months ended March 31, 2026, none our officers and directors entered into new 10b5-1 trading plans. Additionally, none of the officers and directors modified or terminated existing 10b5-1 trading plans.
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
Rule 10b5-1 Arrangement Modified	false
Non-Rule 10b5-1 Arrangement Modified	false

STOCK-BASED COMPENSATION (Details) - USD ($) $ in Millions		3 Months Ended
STOCK-BASED COMPENSATION (Details) - USD ($) $ in Millions	Jun. 20, 2023	Mar. 31, 2026	Mar. 31, 2025	Dec. 31, 2025
Employee Stock Option
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Unrecognized compensation expense		$ 1.3
Stock options granted		0
Number of options exercised		20,000
Number of options forfeited		0
Vesting term		9 months 18 days
Contractual terms of awards		10 years
Share-based compensation arrangement by share-based payment award, options, outstanding, number		4,913,626		4,933,626
Employee Stock Option \| Selling, General, and Administrative Expenses
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Stock-based compensation expense		$ 0.4	$ 0.4
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		$ 3.2
Stock options granted		310,995
Number of options forfeited		0
Vesting term		2 years 10 months 24 days
Stock-based compensation expense		$ 0.3	$ 0.2
Number of stock options vested		219,831
Share-based compensation arrangement by share-based payment award, options, outstanding, number		1,113,615		1,022,451
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
Performance-based Restricted Stock Units ("PSUs")
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Unrecognized compensation expense		$ 1.8
Vesting term		2 years 10 months 24 days
Stock-based compensation expense		$ 0.1
Vesting right description		Each PSU represents the right to receive one share of the Company’s common stock upon vesting, subject to the achievement of specified performance conditions and continued service. The PSUs are subject to a three-year performance period and vest, if at all, based on the Company's achievement of cumulative performance goals. The PSUs are eligible to vest based on the achievement of a performance metric, with payouts at the end of the vesting period ranging from 50% to 200% of target. The performance target is established annually within the three-year cumulative performance period, and final payout is determined following certification by the Compensation Committee after the end of the performance period.
Number of shares to be received upon vesting		1
Performance period		3 years
Performance-based Restricted Stock Units ("PSUs") \| Minimum
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Performance metrics payouts at end of vesting period range		50.00%
Performance-based Restricted Stock Units ("PSUs") \| Maximum
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Performance metrics payouts at end of vesting period range		200.00%
Performance-based Restricted Stock Units ("PSUs") \| Certain Employees
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Restricted stock units issued		665,836
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		1,928,447

LEASES - Summary of Supplemental Balance Sheet Information Related to Leases (Details)	Mar. 31, 2026	Dec. 31, 2025
Leases [Abstract]
Weighted-average remaining lease term (in years)	7 years 8 months 26 days	7 years 1 month 24 days
Weighted average discount rate	8.22%	7.73%

SEGMENT INFORMATION - Summary of Financial Information by Segment (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2026	Mar. 31, 2025
Segment Reporting Information [Line Items]
Revenue, net	$ 37,959	$ 42,880
Selling, general, and administrative expense	20,226	21,609
Depreciation and amortization	6,927	6,722
Goodwill impairment	0	1,901
Other expenses	108	98
Income (loss) before income tax expense	(2,095)	(1,828)
Tool Rental
Segment Reporting Information [Line Items]
Revenue, net	28,910	34,533
Total Cost of Sales	7,750	7,688
Product Sale
Segment Reporting Information [Line Items]
Revenue, net	9,049	8,347
Total Cost of Sales	3,362	3,558
Operating Segments
Segment Reporting Information [Line Items]
Revenue, net	40,110	46,248
Total Cost of Sales	13,264	14,614
Total consolidated cost of revenue	11,112	11,246
Selling, general, and administrative expense	16,887	18,246
Segment EBITDA	9,960	13,388
Corporate expenses	2,433	2,634
Depreciation and amortization	6,927	6,722
Stock option expense	719	541
Monitoring fees	188	188
Transaction expenses	401	732
Goodwill impairment		1,901
Other expenses	1,386	2,498
Income (loss) before income tax expense	(2,095)	(1,828)
Operating Segments \| Western Hemisphere
Segment Reporting Information [Line Items]
Revenue, net	33,396	41,196
Total Cost of Sales	9,963	12,140
Selling, general, and administrative expense	13,362	15,479
Segment EBITDA	10,071	13,576
Goodwill impairment	900
Operating Segments \| Eastern Hemisphere
Segment Reporting Information [Line Items]
Revenue, net	6,714	5,052
Total Cost of Sales	3,301	2,473
Selling, general, and administrative expense	3,525	2,767
Segment EBITDA	(112)	(188)
Goodwill impairment	1,000
Operating Segments \| Tool Rental
Segment Reporting Information [Line Items]
Revenue, net	30,560	37,186
Total Cost of Sales	9,401	10,341
Operating Segments \| Tool Rental \| Western Hemisphere
Segment Reporting Information [Line Items]
Revenue, net	25,704	32,662
Total Cost of Sales	7,280	8,390
Operating Segments \| Tool Rental \| Eastern Hemisphere
Segment Reporting Information [Line Items]
Revenue, net	4,856	4,525
Total Cost of Sales	2,121	1,951
Operating Segments \| Product Sale
Segment Reporting Information [Line Items]
Revenue, net	9,550	9,061
Total Cost of Sales	3,863	4,273
Operating Segments \| Product Sale \| Western Hemisphere
Segment Reporting Information [Line Items]
Revenue, net	7,692	8,534
Total Cost of Sales	2,683	3,750
Operating Segments \| Product Sale \| Eastern Hemisphere
Segment Reporting Information [Line Items]
Revenue, net	1,858	527
Total Cost of Sales	1,180	522
Intersegment Elimination
Segment Reporting Information [Line Items]
Revenue, net	(2,152)	(3,368)
Total consolidated cost of revenue	$ (2,152)	$ (3,368)

BUSINESS COMBINATION (Details) - USD ($) $ in Thousands		3 Months Ended
BUSINESS COMBINATION (Details) - USD ($) $ in Thousands	Jan. 02, 2025	Mar. 31, 2026	Mar. 31, 2025
Business Combination [Line Items]
Acquisition-related costs			$ 300
Revenue		$ 37,959	42,880
Net income (loss)		(1,538)	(1,669)
Titan Tools Group Limited
Business Combination [Line Items]
Business acquisition percentage	100.00%
Gross cash purchase consideration	$ 10,774
Percentage of shares to acquire	100.00%
Revenue		2,100	2,600
Net income (loss)		$ 100	$ 100
Titan Tools Group Limited \| Titan Merger Agreement
Business Combination [Line Items]
Gross cash purchase consideration	$ 10,800

- 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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- Definition

The consolidated profit or loss for the period, net of income taxes, including the portion attributable to the noncontrolling interest.

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+ Details

- Definition

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

GOODWILL

3 Months Ended

Mar. 31, 2026

Goodwill [Abstract]

GOODWILL

NOTE 7 – GOODWILL

The change in carrying amount of goodwill for the three months ended March 31, 2026 was as follows (in thousands):


	Total
Net balance as of December 31, 2025	$	14,616
Foreign currency translation		(92	)
Net balance as of March 31, 2026	$	14,524

- Definition

The entire disclosure for goodwill.

+ References + Details

SEGMENT INFORMATION

3 Months Ended

Mar. 31, 2026

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 derive 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-option expense and monitoring fees. Additionally, the Company’s CODM reviews 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 three months ended March 31, 2026 and 2025 are summarized below:


	For The Three Months Ended March 31, 2026
	Western Hemisphere		Eastern Hemisphere			Total
Tool Rental		25,704		4,856			30,560
Product Sales		7,692		1,858			9,550
Total Revenue		33,396		6,714			40,110
Reconciliation of revenue
Elimination of intersegment revenue							(2,152	)
Total Consolidated Revenue							37,959
Less:(1)
Cost of Tool Rental		7,280		2,121			9,401
Cost of Product Sales		2,683		1,180			3,863
Total Cost of Sales		9,963		3,301			13,264
Reconciliation of cost of revenue
Elimination of intersegment cost of revenue							(2,152	)
Total consolidated cost of revenue							11,112
Selling, general, administrative expenses		13,362		3,525			16,887
Segment EBITDA		10,071		(112	)		9,960
Reconciliation of segment profit
Corporate expenses(2)							2,433
Depreciation and amortization							6,927
Stock option expense							719
Monitoring fees							188
Transaction expenses							401
Other expenses							1,386
Consolidated loss before taxes							(2,095	)


	For The Three Months Ended March 31, 2025
	Western Hemisphere		Eastern Hemisphere			Total
Tool Rental		32,662		4,525			37,186
Product Sales		8,534		527			9,061
Total Revenue		41,196		5,052			46,248
Reconciliation of revenue
Elimination of intersegment revenue							(3,368	)
Total Consolidated Revenue							42,880
Less:(1)
Cost of Tool Rental		8,390		1,951			10,341
Cost of Product Sales		3,750		522			4,273
Total Cost of Sales		12,140		2,473			14,614
Reconciliation of cost of revenue
Elimination of intersegment cost of revenue							(3,368	)
Total consolidated cost of revenue							11,246
Selling, general, administrative expenses		15,479		2,767			18,246
Segment EBITDA		13,576		(188	)		13,388
Reconciliation of segment profit
Corporate expenses(2)							2,634
Depreciation and amortization							6,722
Stock Option Expense							541
Monitoring fees							188
Transaction expenses							732
Goodwill impairment							1,901
Other expenses							2,498
Consolidated income before taxes							(1,828	)

(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 March 31, 2026 and 2025 are summarized below:


	March 31,
	2026		2025
Capital Expenditures
Western Hemisphere	$	7,098	$	4,583
Eastern Hemisphere		589		460
Total capital expenditures		7,687		5,043
Segment Assets(1):
Western Hemisphere	$	157,743	$	159,598
Eastern Hemisphere		58,133		65,189
Total segment assets		215,876		224,787
Corporate and other(2)		8,824		8,382
Total assets	$	224,700	$	233,169

(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.

- 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.

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-Name Accounting Standards Codification
-Section 50
-Paragraph 26B
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482810/280-10-50-26B

Reference 22: http://www.xbrl.org/2003/role/disclosureRef
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Reference 24: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
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Reference 25: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
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-Name Accounting Standards Codification
-Section 50
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-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482810/280-10-50-41

+ Details

BUSINESS COMBINATION (Tables) - Titan Tools Group Limited

3 Months Ended

Mar. 31, 2026

Business Combination [Line Items]

Summary of Allocation of the Purchase

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


Assets acquired:
Cash	$	559
Accounts receivable		3,670
Inventory		658
Other current assets		93
Property, plant and equipment		3,927
Operating lease right-of-use asset		919
Intangible assets		2,657
Total assets acquired		12,484
Liabilities assumed:
Accounts payable		1,090
Operating lease liabilities, current		226
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 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	$	2,657	25	Multi-period Excess Earnings Method
Total intangible assets	$	2,657

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

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Details) - USD ($)		3 Months Ended
	Jan. 02, 2025	Mar. 31, 2026	Mar. 31, 2025	Dec. 31, 2025	Dec. 31, 2024
Accounting Policies [Line Items]
Cash equivalents		$ 0		$ 0
Contract liabilities		$ 0		0	$ 0
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, 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		29.00%	29.00%
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		$ 4,600,000	$ 5,700,000
Level 1
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 3
Accounting Policies [Line Items]
Assets fair value		0		0
Liabilities fair value		$ 0		$ 0
Titan Tools Group Limited
Accounting Policies [Line Items]
Business acquisition percentage	100.00%
Purchase consideration	$ 10,774,000

LONG TERM DEBT (Tables)

3 Months Ended

Mar. 31, 2026

Debt Disclosure [Abstract]

Schedule of Future Maturities of Long Term Debt

As of March 31, 2026, the future maturities of long-term debt consisted of the following (in thousands):


2026	$	4,484
2027		6,051
2028		6,137
2029		35,081
Total long term debt	$	51,753

SEGMENT INFORMATION (Tables)

3 Months Ended

Mar. 31, 2026

Segment Reporting [Abstract]

Summary of Financial Information by Segment

Financial information by segment for the three months ended March 31, 2026 and 2025 are summarized below:


	For The Three Months Ended March 31, 2026
	Western Hemisphere		Eastern Hemisphere			Total
Tool Rental		25,704		4,856			30,560
Product Sales		7,692		1,858			9,550
Total Revenue		33,396		6,714			40,110
Reconciliation of revenue
Elimination of intersegment revenue							(2,152	)
Total Consolidated Revenue							37,959
Less:(1)
Cost of Tool Rental		7,280		2,121			9,401
Cost of Product Sales		2,683		1,180			3,863
Total Cost of Sales		9,963		3,301			13,264
Reconciliation of cost of revenue
Elimination of intersegment cost of revenue							(2,152	)
Total consolidated cost of revenue							11,112
Selling, general, administrative expenses		13,362		3,525			16,887
Segment EBITDA		10,071		(112	)		9,960
Reconciliation of segment profit
Corporate expenses(2)							2,433
Depreciation and amortization							6,927
Stock option expense							719
Monitoring fees							188
Transaction expenses							401
Other expenses							1,386
Consolidated loss before taxes							(2,095	)


	For The Three Months Ended March 31, 2025
	Western Hemisphere		Eastern Hemisphere			Total
Tool Rental		32,662		4,525			37,186
Product Sales		8,534		527			9,061
Total Revenue		41,196		5,052			46,248
Reconciliation of revenue
Elimination of intersegment revenue							(3,368	)
Total Consolidated Revenue							42,880
Less:(1)
Cost of Tool Rental		8,390		1,951			10,341
Cost of Product Sales		3,750		522			4,273
Total Cost of Sales		12,140		2,473			14,614
Reconciliation of cost of revenue
Elimination of intersegment cost of revenue							(3,368	)
Total consolidated cost of revenue							11,246
Selling, general, administrative expenses		15,479		2,767			18,246
Segment EBITDA		13,576		(188	)		13,388
Reconciliation of segment profit
Corporate expenses(2)							2,634
Depreciation and amortization							6,722
Stock Option Expense							541
Monitoring fees							188
Transaction expenses							732
Goodwill impairment							1,901
Other expenses							2,498
Consolidated income before taxes							(1,828	)

(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 March 31, 2026 and 2025 are summarized below:


	March 31,
	2026		2025
Capital Expenditures
Western Hemisphere	$	7,098	$	4,583
Eastern Hemisphere		589		460
Total capital expenditures		7,687		5,043
Segment Assets(1):
Western Hemisphere	$	157,743	$	159,598
Eastern Hemisphere		58,133		65,189
Total segment assets		215,876		224,787
Corporate and other(2)		8,824		8,382
Total assets	$	224,700	$	233,169

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

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

3 Months Ended

Mar. 31, 2026

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 three months ended March 31, 2026 and 2025 (in thousands):


	Three months ended March 31,
	2026			2025
Transaction fees	$	401		$	732
Unrealized loss on foreign currency		105			—
Restructuring charges		213			—
Software implementation		131			132
Interest income		(108	)		(98	)
Other, net		33			1,168
Other operating and non-operating expenses, net	$	775		$	1,934

STOCK-BASED COMPENSATION (Tables)

3 Months Ended

Mar. 31, 2026

Employee Stock Option

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

Summary of Stock Option Activity

The following table summarizes our stock option activity for the three months ended March 31, 2026:


	Shares			Weighted Average Exercise Price		Weighted Average Remaining Contractual Life (in Years)		Aggregate Intrinsic Value
OUTSTANDING, December 31, 2025		4,933,626		$	3.50		4.97	$	—
Granted		—			—		—		—
Exercised		(20,000	)		3.02		—		—
Forfeited		—			—		—		—
OUTSTANDING, March 31, 2026		4,913,626		$	3.51		4.66	$	4,708
UNVESTED, March 31, 2026		828,330		$	3.02		7.88	$	1,085
EXERCISABLE, March 31, 2026		4,085,296		$	3.61		4.01	$	3,623

Restricted Stock Units

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

Summary of Stock Option Activity

The following table summarizes our restricted stock unit activity for the three months ended March 31, 2026:


	Shares			Weighted Average Exercise Price
UNVESTED, December 31, 2025		1,022,451		$	3.16
Granted		310,995			3.48
Vested		(219,831	)		3.23
Forfeited		—			—
UNVESTED, March 31, 2026		1,113,615		$	3.24

- 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

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 718
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Reference 2: http://www.xbrl.org/2003/role/disclosureRef
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Reference 9: http://www.xbrl.org/2003/role/disclosureRef
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Reference 10: http://www.xbrl.org/2003/role/disclosureRef
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Reference 13: http://www.xbrl.org/2003/role/disclosureRef
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Reference 14: http://www.xbrl.org/2003/role/disclosureRef
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+ Details

SEGMENT INFORMATION - Summary of Additional Financial Information by Operating Segment (Parenthetical) (Details) $ in Thousands	3 Months Ended
	Mar. 31, 2026 USD ($) ReportingUnits	Mar. 31, 2025 USD ($)
Segment Reporting Information [Line Items]
Number of reporting units, goodwill allocated \| ReportingUnits	4
Goodwill, impairment loss	$ 0	$ 1,901
Operating Segments [Member]
Segment Reporting Information [Line Items]
Goodwill, impairment loss		$ 1,901
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

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

VARIABLE INTEREST ENTITY AND JOINT VENTURE ARRANGEMENT

3 Months Ended

Mar. 31, 2026

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.

PROPERTY, PLANT AND EQUIPMENT, NET (Tables)

3 Months Ended

Mar. 31, 2026

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)	March 31, 2026			December 31, 2025
Rental tools and equipment	5-10	$	219,829		$	215,596
Buildings and improvements	5-40		8,126			7,876
Office furniture, fixtures and equipment	3-5		3,258			3,153
Transportation and equipment	3-5		708			691
Total property, plant and equipment			231,921			227,317
Less: accumulated depreciation			(160,647	)		(156,382	)
Property, plant and equipment, net (excluding construction in progress)			71,274			70,935
Construction in progress			1,752			1,667
Property, plant and equipment, net		$	73,026		$	72,602

SUPPLEMENTAL CASH FLOWS (Tables)

3 Months Ended

Mar. 31, 2026

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:


	Three Months Ended March 31,
	2026		2025
Supplemental cash flow information:
Cash paid for interest	$	1,192	$	1,164
Cash paid for income taxes		—		41
Operating cash flows from operating leases		1,653		1,657
Non-cash investing and financing activities:
Measurement period adjustment related to EDP Acquisition		—		1,671
ROU assets obtained in exchange for lease liabilities		301		1,370
Fair value of Titan liabilities assumed in Titan Acquisition		—		4,045
Non-cash consideration in Titan Acquisition		—		4,597
Treasury stock obtained in exchange for shares withheld on vesting		221		—
Purchases of inventory included in accounts payable and accrued expenses and other current liabilities		470		2,961
Purchases of property and equipment included in accounts payable and accrued expenses and other current liabilities		358		3,247

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - Summary of Asset and Liabilities Measured at Fair Value (Details) - USD ($)	Mar. 31, 2026	Dec. 31, 2025
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

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Tables)

3 Months Ended

Mar. 31, 2026

Accounting Policies [Abstract]

Schedule of Changes in Contract Assets

The changes in contract assets for the year ended December 31, 2025 and three months ended March 31, 2026 were as follows (in thousands):


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
Revenue recognized from contract assets		10,583
Conversion of contract assets into accounts receivable		(9,502	)
Balance at March 31, 2026		8,277

Schedule of Allowance For Credit Losses

The changes in the allowance for credit losses for the year ended December 31, 2025 and the three months ended March 31, 2026 were as follows (in thousands):


Balance at December 31, 2024	$	(1,690	)
Provisions for expected credit losses		(595	)
Foreign currency adjustments		(130	)
Utilization of allowance for credit losses		213
Balance at December 31, 2025	$	(2,202	)
Provisions for expected credit losses		(313	)
Foreign currency adjustments		52
Utilization of allowances for credit losses		-
Balance at March 31, 2026	$	(2,462	)

INCOME TAXES (Details) - USD ($)	3 Months Ended
INCOME TAXES (Details) - USD ($)	Mar. 31, 2026	Mar. 31, 2025
Income Tax Disclosure [Abstract]
Income tax benefit (expense)	$ 557,000	$ 159,000
Effective tax rate	26.60%	8.70%
Federal Statutory rate	21.00%	21.00%
Change to the valuation allowance	$ 0	$ 0

- Definition

Amount of current income tax expense (benefit) and deferred income tax expense (benefit) pertaining to continuing operations.

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+ Details

OTHER OPERATING AND NON-OPERATING EXPENSES, NET- Summary of Components of Other Expenses, Net (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2026	Mar. 31, 2025
Schedule Of Other Expenses [Line Items]
Transaction fees	$ 401	$ 732
Unrealized loss on foreign currency	105	0
Restructuring charges	213	0
Software Implementation	131	132
Interest income	(108)	(98)
Other, net	33	1,168
Other operating and non-operating expenses, net	$ 775	$ 1,934

EARNINGS PER SHARE

3 Months Ended

Mar. 31, 2026

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 three months ended March 31, 2026 and 2025 (in thousands except share and per share data):


	Three months ended March 31,
	2026			2025
Numerator:
Net income (loss) attributable to Drilling Tools International stockholders	$	(1,540	)	$	(1,669	)
Denominator
Weighted-average common shares used in computing earnings per share — basic		35,116,094			35,592,737
Weighted-average effect of potentially dilutive securities:
Effect of potentially dilutive time-based stock options		—			—
Effect of potentially dilutive performance-based stock options		—			—
Effect of potentially dilutive restricted stock units		—			—
Weighted-average common shares outstanding — diluted		35,116,094			35,592,737
Earnings (loss) per share — basic	$	(0.04	)	$	(0.05	)
Earnings (loss) per share — diluted	$	(0.04	)	$	(0.05	)

As of March 31, 2026, the Company’s potentially dilutive securities consisted of options to purchase common stock and restricted stock units. Based on the amounts outstanding as of the three months ended March 31, 2026 and 2025, the Company excluded the following potential common shares from the computation of diluted net income per share because including them would have had an anti-dilutive effect:


	Three months ended March 31,
	2026		2025
Performance-based options outstanding		534,063		534,063
Time-based options outstanding		4,379,571		4,396,855
Time-based restricted stock units outstanding		1,113,616		—
Total		6,027,250		4,930,918

EARNINGS PER SHARE (Tables)

3 Months Ended

Mar. 31, 2026

Earnings Per Share [Abstract]

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


	Three months ended March 31,
	2026			2025
Numerator:
Net income (loss) attributable to Drilling Tools International stockholders	$	(1,540	)	$	(1,669	)
Denominator
Weighted-average common shares used in computing earnings per share — basic		35,116,094			35,592,737
Weighted-average effect of potentially dilutive securities:
Effect of potentially dilutive time-based stock options		—			—
Effect of potentially dilutive performance-based stock options		—			—
Effect of potentially dilutive restricted stock units		—			—
Weighted-average common shares outstanding — diluted		35,116,094			35,592,737
Earnings (loss) per share — basic	$	(0.04	)	$	(0.05	)
Earnings (loss) per share — diluted	$	(0.04	)	$	(0.05	)

Summary of Company's Potentially Dilutive Securities Excluded


	Three months ended March 31,
	2026		2025
Performance-based options outstanding		534,063		534,063
Time-based options outstanding		4,379,571		4,396,855
Time-based restricted stock units outstanding		1,113,616		—
Total		6,027,250		4,930,918

STOCK-BASED COMPENSATION - Summary of Stock Option Activity (Details) - Employee Stock Option - USD ($)	3 Months Ended	12 Months Ended
	Mar. 31, 2026	Dec. 31, 2025
Share-Based Compensation Arrangement by Share-Based Payment Award, Options, Outstanding [Roll Forward]
OUTSTANDING, December 31, 2025	4,933,626
Number of shares granted	0
Number of shares exercised	(20,000)
Number of shares forfeited	0
OUTSTANDING, March 31, 2026	4,913,626	4,933,626
UNVESTED, March 31, 2026	828,330
EXERCISABLE, March 31, 2026	4,085,296
Share-Based Compensation Arrangement by Share-Based Payment Award, Options, Outstanding, Weighted Average Exercise Price [Abstract]
Weighted average exercise price, beginning balance	$ 3.5
Weighted average exercise price, Granted	0
Weighted average exercise price, Exercised	3.02
Weighted average exercise price, Forfeited	0
Weighted average exercise price, ending balance	3.51	$ 3.5
Weighted average exercise price, Unvested	3.02
Weighted average exercise price, Exercisable	$ 3.61
Share-Based Compensation Arrangement by Share-Based Payment Award, Options, Additional Disclosures [Abstract]
Weighted Average Remaining Contractual Life (in Years)	4 years 7 months 28 days	4 years 11 months 19 days
Weighted average remaining contractual life (in years), unvested	7 years 10 months 17 days
Weighted average remaining contractual life (in years), exercisable	4 years 3 days
Aggregate Intrinsic Value	$ 4,708	$ 0
Aggregate Intrinsic Value, Exercised	0
Aggregate Intrinsic Value, Unvested	1,085
Aggregate intrinsic value, exercisable	$ 3,623

BUSINESS COMBINATION - 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	$ 2,657
Customer Relationships
Intangible Asset, Acquired, Finite-Lived [Line Items]
Intangible assets, fair value	$ 2,657
Intangible assets, useful life	25 years

PROPERTY, PLANT AND EQUIPMENT, NET

3 Months Ended

Mar. 31, 2026

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)	March 31, 2026			December 31, 2025
Rental tools and equipment	5-10	$	219,829		$	215,596
Buildings and improvements	5-40		8,126			7,876
Office furniture, fixtures and equipment	3-5		3,258			3,153
Transportation and equipment	3-5		708			691
Total property, plant and equipment			231,921			227,317
Less: accumulated depreciation			(160,647	)		(156,382	)
Property, plant and equipment, net (excluding construction in progress)			71,274			70,935
Construction in progress			1,752			1,667
Property, plant and equipment, net		$	73,026		$	72,602

Total depreciation expense for the three months ended March 31, 2026 and 2025 was approximately $6.2 million and $6.1 million, respectively.

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - Schedule of Changes in Contract Assets (Details) - USD ($) $ in Thousands	3 Months Ended	12 Months Ended
	Mar. 31, 2026	Dec. 31, 2025
Change in Contract with Customer, Asset [Abstract]
Beginning balance	$ 7,196	$ 5,449
Revenue recognized from contract assets	10,583	42,598
Conversion of contract assets into accounts receivable	(9,502)	(40,851)
Ending balance	$ 8,277	$ 7,196

GOODWILL - Schedule of Change in Carrying Amount of Goodwill (Details) $ in Thousands	3 Months Ended
	Mar. 31, 2026 USD ($)
Goodwill [Abstract]
Net balance as of December 31, 2025	$ 14,616
Foreign currency translation	(92)
Net balance as of March 31, 2026	$ 14,524

- 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.

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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	Mar. 31, 2026	Dec. 31, 2025
Accrued expenses:
Accrued compensation and related benefits	$ 4,604	$ 5,662
Accrued insurance	386	616
Accrued professional services	308	210
Accrued Inventory and Property, Plant, and Equipment Purchases	198	1,014
Accrued interest	415	493
Accrued property taxes	296	86
Accrued monitoring fees	534	504
Other	232	991
Other current liabilities:
Income tax payable	906	0
Sales tax payable	344	276
Unbilled lost-in-hole revenue	56	137
Deferred income	840	722
Total accrued expenses and other current liabilities	$ 9,119	$ 10,711

INTANGIBLE ASSETS, NET (Details) - USD ($) $ in Millions	3 Months Ended
INTANGIBLE ASSETS, NET (Details) - USD ($) $ in Millions	Mar. 31, 2026	Mar. 31, 2025
Indefinite-Lived Intangible Assets [Line Items]
Amortization expense	$ 0.7	$ 0.6

- 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.

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+ Details

BALANCE SHEET DETAILS - CURRENT ASSETS AND CURRENT LIABILITIES - Summary of Inventories (Details) - USD ($) $ in Thousands	Mar. 31, 2026	Dec. 31, 2025
Inventory, Net [Abstract]
Raw materials	$ 9,732	$ 14,281
Work in progress	794	672
Finished goods	8,089	3,196
Total inventories	$ 18,615	$ 18,149

INCOME TAXES

3 Months Ended

Mar. 31, 2026

Income Tax Disclosure [Abstract]

INCOME TAXES

NOTE 9 – INCOME TAXES

The Company recorded an income tax benefit on the unaudited condensed consolidated statements of comprehensive income (loss) of $0.6 million and $0.2 million for the three months ended March 31, 2026 and 2025, respectively.

The income tax expense for the three months ended March 31, 2026 was calculated using a discrete approach. This methodology was used because changes in the Company's results of operations and acquisitions can materially impact the estimated annual effective tax rate. The Company’s effective tax rate for the three months ended March 31, 2026 and 2025 was 26.6% and 8.7%, respectively. Such rates differed from the Federal Statutory rate of 21.0% primarily due to the state taxes, foreign income taxes on the Company’s international operations, and permanent differences.

The Company records deferred tax assets and liabilities for the future tax benefit or expense that will result from differences between the carrying value of its assets for income tax purposes and for financial reporting purposes, as well as for operating loss and tax credit carryovers. A valuation allowance is recorded to bring the net deferred tax assets to a level that is more likely than not to be realized in the foreseeable future. This level will be estimated based on a number of factors, especially the amount of net deferred tax assets of the Company that are actually expected to be realized, for tax purposes, in the foreseeable future. There was no signficant changes to the valuation allowance during the three months ended March 31, 2026 and 2025.

- Definition

The entire disclosure for income tax.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 942
-SubTopic 740
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147477617/942-740-50-1

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 235
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-Name Accounting Standards Codification
-Section S50
-Paragraph 1
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480738/235-10-S50-1

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
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-Section 50
-Paragraph 1
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147478822/944-740-50-1

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 12
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482685/740-10-50-12

Reference 5: http://www.xbrl.org/2003/role/exampleRef
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-Name Accounting Standards Codification
-Section 55
-Paragraph 231
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482663/740-10-55-231

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 12C
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482685/740-10-50-12C

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
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-Name Accounting Standards Codification
-Section 50
-Paragraph 12B
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482685/740-10-50-12B

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
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-SubTopic 270
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147477891/740-270-50-1

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
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Reference 10: http://www.xbrl.org/2003/role/disclosureRef
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Reference 11: http://www.xbrl.org/2003/role/disclosureRef
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Reference 12: http://www.xbrl.org/2003/role/disclosureRef
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-URI https://asc.fasb.org/740/tableOfContent

Reference 13: http://www.xbrl.org/2003/role/disclosureRef
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Reference 14: http://www.xbrl.org/2003/role/disclosureRef
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Reference 15: http://www.xbrl.org/2003/role/disclosureRef
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-Subparagraph (b)
-Publisher FASB
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Reference 16: http://www.xbrl.org/2003/role/disclosureRef
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-Section 50
-Paragraph 2
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482603/740-30-50-2

+ Details

Document and Entity Information - shares	3 Months Ended
Document and Entity Information - shares	Mar. 31, 2026	May 03, 2026
Cover [Abstract]
Document Type	10-Q
Document Quarterly Report	true
Document Transition Report	false
Document Period End Date	Mar. 31, 2026
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 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
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		35,139,094
Entity Central Index Key	0001884516
Current Fiscal Year End Date	--12-31
Document Fiscal Year Focus	2026
Document Fiscal Period Focus	Q1
Amendment Flag	false
Title of 12(b) Security	Common stock, par value $0.0001 per share
Trading Symbol	DTI
Security Exchange Name	NASDAQ

BUSINESS COMBINATION - Summary of Allocation of the Purchase (Details) - USD ($) $ in Thousands	Mar. 31, 2026	Dec. 31, 2025	Jan. 02, 2025
Business Combination [Line Items]
Goodwill	$ 14,524	$ 14,616
Titan Tools Group Limited
Business Combination [Line Items]
Cash			$ 559
Accounts receivable			3,670
Other current assets			93
Inventory			658
Property, plant and equipment			3,927
Operating lease right-of-use asset			919
Intangible assets			2,657
Goodwill			2,335
Total assets acquired			12,484
Accounts payable			1,090
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

OTHER OPERATING AND NON-OPERATING EXPENSES, NET

3 Months Ended

Mar. 31, 2026

Other Income and Expenses [Abstract]

OTHER OPERATING AND NON-OPERATING EXPENSES, NET

NOTE 11 – OTHER OPERATING AND NON-OPERATING EXPENSES, NET

The following table shows the components of other operating and non-operating expenses, net for the three months ended March 31, 2026 and 2025 (in thousands):


	Three months ended March 31,
	2026			2025
Transaction fees	$	401		$	732
Unrealized loss on foreign currency		105			—
Restructuring charges		213			—
Software implementation		131			132
Interest income		(108	)		(98	)
Other, net		33			1,168
Other operating and non-operating expenses, net	$	775		$	1,934

SHARE REPURCHASES - Summary of Share Purchases (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended	12 Months Ended	15 Months Ended
	Mar. 31, 2026	Dec. 31, 2025	Mar. 31, 2026
Share Repurchase Program [Abstract]
Total number of shares of Common Stock Purchases	206,800	505,169	711,969
Average price paid per share of Common Stock	$ 3.41	$ 2.5	$ 2.77
Aggregate purchase price of Common Stock repurchases	$ 706,050	$ 1,265,029	$ 1,971,079
Remaining aggregate value authorized for repurchase	$ 8,028,921	$ 8,734,971	$ 8,028,921

- 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

BUSINESS COMBINATIONS - Summary of Consideration for Merger (Details) - Titan Tools Group Limited $ in Thousands	Jan. 02, 2025 USD ($)
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

COMMITMENTS AND CONTINGENCIES

3 Months Ended

Mar. 31, 2026

Commitments and Contingencies Disclosure [Abstract]

COMMITMENTS AND CONTINGENCIES

NOTE 15 – COMMITMENTS AND CONTINGENCIES

The Company maintains operating leases for various facilities and vehicles. See Note 13 - 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 depreciation and amortization amount, as defined in the management agreement (refer to Note 12 – Related Party Transactions).

SHARE REPURCHASES (Tables)

3 Months Ended

Mar. 31, 2026

Share Repurchase Program [Abstract]

Summary of Share Repurchases

Share repurchases by quarter are 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
Fiscal year 2025		505,169		2.50		1,265,029		8,734,971
First quarter 2026		206,800		3.41		706,050		8,028,921
Total		711,969	$	2.77	$	1,971,079	$	8,028,921

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - Schedule of Allowance For Credit Losses (Details) - USD ($) $ in Thousands	3 Months Ended	12 Months Ended
	Mar. 31, 2026	Dec. 31, 2025
Accounting Policies [Abstract]
Beginning balance	$ (2,202)	$ (1,690)
Provisions for expected credit losses	(313)	(595)
Foreign currency adjustments	52	(130)
Utilization of allowance for credit losses	0	213
Ending balance	$ (2,462)	$ (2,202)

RELATED PARTY TRANSACTIONS

3 Months Ended

Mar. 31, 2026

RELATED PARTY TRANSACTIONS

NOTE 12 – RELATED PARTY TRANSACTIONS

Management fees

For the three months ended March 31, 2026 and 2025, management fees paid to Hicks Holdings Operating LLC ("HHLLC"), a shareholder of the Company, were approximately $0.2 million and $0.2 million, respectively. Management fees paid to a shareholder are included in selling, general and administrative expense in the accompanying unaudited condensed consolidated statements of comprehensive income (loss). The last payment under this arrangement is set to be made in December 2027.

Director fees

Director fees for the three months ended March 31, 2026 and 2025 were approximately $0.2 million and $0.1 million, respectively. Director fees are included in selling, general and administrative expense in the accompanying unaudited condensed 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 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 fifth anniversary the 20-day-volume-weighted average price is below $3.20, the entire principal balance would be due upon the sixth anniversary. Any payments due and not received by the Company before the fifth day 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 three months ended March 31, 2026 and 2025, interest income recognized on the discounted note totaled $0.1 million and $0.1 million, respectively. The carrying value of the note as of March 31, 2026 was $5.5 million.

- 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

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 850
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (d)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147483326/850-10-50-1

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
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-Name Accounting Standards Codification
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-URI https://asc.fasb.org/1943274/2147480990/946-20-50-2

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
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-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480990/946-20-50-5

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
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-Section 50
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-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480990/946-20-50-6

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
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-Section 50
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-Publisher FASB
-URI https://asc.fasb.org/1943274/2147477968/946-235-50-2

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-Paragraph 2
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Reference 7: http://www.xbrl.org/2003/role/disclosureRef
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-Name Accounting Standards Codification
-Section S99
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Reference 8: http://www.xbrl.org/2003/role/disclosureRef
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-Name Accounting Standards Codification
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Reference 9: http://www.xbrl.org/2003/role/disclosureRef
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-Name Accounting Standards Codification
-Section S99
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-Subparagraph (SX 210.6-07(2)(e))
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Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Topic 850
-Name Accounting Standards Codification
-Publisher FASB
-URI https://asc.fasb.org/850/tableOfContent

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
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-Publisher FASB
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-Section 50
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-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147483326/850-10-50-1

+ Details

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

3 Months Ended

Mar. 31, 2026

Organization, Consolidation and Presentation of Financial Statements [Abstract]

Summary of Inventories

Inventories

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


	March 31, 2026		December 31, 2025
Raw materials	$	9,732	$	14,281
Work in progress		794		672
Finished goods		8,089		3,196
Total inventories	$	18,615	$	18,149

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):


	March 31, 2026		December 31, 2025
Prepaid expenses:
Deposits on inventory	$	2,312	$	1,020
Prepaid income tax		—		—
Prepaid insurance		428		891
Prepaid rent		456		445
Prepaid software		557		0
Other prepaid expenses		10		334
Other current assets:
Income tax receivable		1,632		1,176
Total	$	5,395	$	3,866

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):


	March 31, 2026		December 31, 2025
Accrued expenses:
Accrued compensation and related benefits	$	4,604	$	5,662
Accrued insurance		386		616
Accrued professional services		308		210
Accrued inventory and property, plant, and equipment purchases		198		1,014
Accrued interest		415		493
Accrued property taxes		296		86
Accrued monitoring fees		534		504
Other		232		991
Other current liabilities:
Income tax payable	$	906	$	—
Sales tax payable		344		276
Unbilled lost-in-hole revenue		56		137
Deferred income		840		722
Total accrued expenses and other current liabilities	$	9,119	$	10,711

BALANCE SHEET DETAILS - CURRENT ASSETS AND CURRENT LIABILITIES

3 Months Ended

Mar. 31, 2026

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):


	March 31, 2026		December 31, 2025
Raw materials	$	9,732	$	14,281
Work in progress		794		672
Finished goods		8,089		3,196
Total inventories	$	18,615	$	18,149

Prepaid expenses and other current assets

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


	March 31, 2026		December 31, 2025
Prepaid expenses:
Deposits on inventory	$	2,312	$	1,020
Prepaid income tax		—		—
Prepaid insurance		428		891
Prepaid rent		456		445
Prepaid software		557		0
Other prepaid expenses		10		334
Other current assets:
Income tax receivable		1,632		1,176
Total	$	5,395	$	3,866

Accrued expenses and other current liabilities

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


	March 31, 2026		December 31, 2025
Accrued expenses:
Accrued compensation and related benefits	$	4,604	$	5,662
Accrued insurance		386		616
Accrued professional services		308		210
Accrued inventory and property, plant, and equipment purchases		198		1,014
Accrued interest		415		493
Accrued property taxes		296		86
Accrued monitoring fees		534		504
Other		232		991
Other current liabilities:
Income tax payable	$	906	$	—
Sales tax payable		344		276
Unbilled lost-in-hole revenue		56		137
Deferred income		840		722
Total accrued expenses and other current liabilities	$	9,119	$	10,711

STOCK-BASED COMPENSATION - Summary of Restricted Stock Units Activity (Details) - Restricted Stock Units	3 Months Ended
	Mar. 31, 2026 $ / shares shares
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
OUTSTANDING, December 31, 2025 \| shares	1,022,451
Stock options granted \| shares	310,995
Number of stock options vested \| shares	(219,831)
Number of options forfeited \| shares	0
OUTSTANDING, March 31, 2026 \| shares	1,113,615
Weighted average exercise price, beginning balance \| $ / shares	$ 3.16
Weighted average exercise price, Granted \| $ / shares	3.48
Weighted average exercise price, Vested \| $ / shares	3.23
Weighted average exercise price, Forfeited \| $ / shares	0
Weighted average exercise price, ending balance \| $ / shares	$ 3.24

BALANCE SHEET DETAILS - CURRENT ASSETS AND CURRENT LIABILITIES - Summary of Prepaid Expenses and Other Current Assets (Details) - USD ($) $ in Thousands	Mar. 31, 2026	Dec. 31, 2025
Prepaid expenses:
Deposits on inventory	$ 2,312	$ 1,020
Prepaid income tax	0	0
Prepaid insurance	428	891
Prepaid rent	456	445
Prepaid software	557	0
Other prepaid expenses	10	334
Other current assets:
Income tax receivable	1,632	1,176
Total	$ 5,395	$ 3,866

RELATED PARTY TRANSACTIONS (Details) - USD ($) $ / shares in Units, $ in Millions		3 Months Ended
	Jul. 31, 2025	Mar. 31, 2026	Mar. 31, 2025	Jul. 31, 2024
Board of Directors
Related Party Transaction [Line Items]
Director fees paid		$ 0.2	$ 0.1
Hicks Holdings Operating LLC
Related Party Transaction [Line Items]
Management fees paid to shareholder		$ 0.2	0.2
Tronco
Related Party Transaction [Line Items]
Face value of note				$ 6.5
Average stock price	$ 3.2	$ 3.2
Interest rate		3.00%
Carrying value of note		$ 5.5
Discount on note		(1.0)
Interest income recognized		$ 0.1	$ 0.1
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

PROPERTY, PLANT AND EQUIPMENT, NET - Summary of Component of Property, Plant and Equipment, Net (Details) - USD ($) $ in Thousands	Mar. 31, 2026	Dec. 31, 2025
Property, Plant and Equipment [Line Items]
Total property, plant and equipment	$ 231,921	$ 227,317
Less: accumulated depreciation	(160,647)	(156,382)
Property, plant and equipment, net (excluding construction in progress)	71,274	70,935
Construction in progress	1,752	1,667
Property, plant and equipment, net	73,026	72,602
Rental Tools and Equipment
Property, Plant and Equipment [Line Items]
Total property, plant and equipment	$ 219,829	215,596
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	$ 8,126	7,876
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	$ 3,258	3,153
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	$ 708	$ 691
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

PROPERTY, PLANT AND EQUIPMENT, NET (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2026	Mar. 31, 2025
Property, Plant and Equipment [Abstract]
Depreciation expense	$ 6.2	$ 6.1

CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Mar. 31, 2026	Dec. 31, 2025
Assets, Current [Abstract]
Cash	$ 2,840	$ 3,648
Accounts receivable, net	40,335	37,683
Inventories	18,615	18,149
Prepaid expenses and other current assets	5,395	3,866
Total current assets	68,726	64,887
Property, plant and equipment, net	73,026	72,602
Operating lease right-of-use asset	24,245	25,181
Intangible assets, net	38,437	39,674
Goodwill, net	14,524	14,616
Deferred financing costs, net	517	468
Deposits and other long-term assets	1,298	917
Total assets	224,700	222,181
Current liabilities
Accounts payable	12,234	9,785
Accrued expenses and other current liabilities	9,120	10,711
Current portion of operating lease liabilities	4,596	4,335
Current maturities of long-term debt	5,990	5,989
Total current liabilities	31,940	30,820
Operating lease liabilities, less current portion	20,370	21,494
Revolving line of credit	32,500	25,000
Long-term debt, less current portion	13,263	14,827
Deferred tax liabilities, net	6,194	7,167
Total liabilities	104,267	99,308
Commitments and contingencies (See Note 15)
Shareholders' equity
Common stock, $0.0001 par value, shares authorized 500,000,000 as of March 31, 2026 and December 31, 2025, 35,901,128 issued and outstanding as of March 31, 2026 and 35,661,297 shares issued and outstanding as of December 31, 2025	4	4
Less: Treasury stock at cost, 775,368 and 505,169 shares as of March 31, 2026 and December 31, 2025, respectively	(2,192)	(1,265)
Additional paid-in-capital	131,580	130,801
Accumulated deficit	(8,883)	(7,343)
Accumulated other comprehensive income (loss)	(90)	664
Total Drilling Tools International stockholder's equity	120,419	122,861
Non-controlling interest	14	12
Total equity	120,433	122,873
Total liabilities and shareholders' equity	224,700	222,181
Related Party
Assets, Current [Abstract]
Related party note receivable, current	1,541	1,541
Related party note receivable, less current portion	$ 3,927	$ 3,836

INTANGIBLE ASSETS, NET - Schedule of Estimated Future Amortization Expense (Details) - USD ($) $ in Thousands	Mar. 31, 2026	Dec. 31, 2025
Finite-Lived Intangible Assets, Net, Amortization Expense, Fiscal Year Maturity [Abstract]
2026	$ 2,475
2027	2,475
2028	2,475
2029	2,475
2030	2,475
Thereafter	26,062
Intangible assets, net	$ 38,437	$ 39,674

LEASES - Summary of Components of Lease Expense (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2026	Mar. 31, 2025
Lease, Cost [Abstract]
Operating lease cost	$ 1,723	$ 1,739
Short-term lease cost	32	31
Variable lease cost	152	109
Total Lease Cost	$ 1,907	$ 1,879

CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (LOSS) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2026	Mar. 31, 2025
Revenue, net:
Revenue, net	$ 37,959	$ 42,880
Costs and other deductions:
Selling, general, and administrative expense	20,226	21,609
Depreciation and amortization expense	6,927	6,722
Interest expense, net	1,013	1,309
Loss (gain) on asset disposal		(13)
Goodwill impairment	0	1,901
Other operating and non-operating expense, net	776	1,934
Total costs and other deductions	40,054	44,708
Income (loss) before income tax expense	(2,095)	(1,828)
Income tax benefit (expense)	557	159
Net income (loss)	(1,538)	(1,669)
Less: Net income (loss) attributable to non-controlling interest	2
Net income (loss) attributable to Drilling Tools International stockholders	$ (1,540)	$ (1,669)
Basic earnings (loss) per share	$ (0.04)	$ (0.05)
Diluted earnings (loss) per share	$ (0.04)	$ (0.05)
Basic weighted-average common shares outstanding	35,116,094	35,592,737
Diluted weighted-average common shares outstanding	35,116,094	35,592,737
Comprehensive income (loss):
Net income (loss)	$ (1,538)	$ (1,669)
Foreign currency translation adjustment, net of tax	(754)	942
Comprehensive income (loss):	(2,292)	(727)
Less: comprehensive income attributable to non-controlling interest	2
Comprehensive income (loss) attributable to Drilling Tools International stockholders	(2,294)	(727)
Tool Rental
Revenue, net:
Revenue, net	28,910	34,533
Costs and other deductions:
Cost of revenue	7,750	7,688
Product Sale
Revenue, net:
Revenue, net	9,049	8,347
Costs and other deductions:
Cost of revenue	$ 3,362	$ 3,558

LONG TERM DEBT

3 Months Ended

Mar. 31, 2026

Line of Credit Facility [Abstract]

LONG TERM DEBT

NOTE 8 – LONG TERM DEBT

In December 2015, the Company entered into a 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 “Revolving Line of Credit”) 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 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 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 three months ended March 31, 2026, the interest on the amount drawn on the Revolving Line of Credit and Term Loan and the outstanding Term Loan balance are based on the Secured Overnight Financing Rate ("SOFR") or the bank’s base lending rate plus applicable margin (approximately 6.64% and 7.73%, respectively, at March 31, 2026). The Credit Facility is collateralized by substantially all the assets of the Company.

As of March 31, 2026, there was $32.5 million drawn against the line of credit.

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 Euros), 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 $3.8 million as of March 31, 2026. For the three months ended March 31, 2026 and 2025, the Company recognized a gain of $0.1 million and $0.1 million, respectively, on the unaudited condensed consolidated statements of comprehensive income (loss).

As of March 31, 2026, the future maturities of long-term debt consisted of the following (in thousands):


2026	$	4,484
2027		6,051
2028		6,137
2029		35,081
Total long term debt	$	51,753

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 March 31, 2026 and December 31, 2025 and therefore no amounts were recorded as of March 31, 2026 or December 31, 2025.

- 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

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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-Name Accounting Standards Codification
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Reference 3: http://www.xbrl.org/2003/role/disclosureRef
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Reference 14: http://www.xbrl.org/2003/role/disclosureRef
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+ Details

EARNINGS PER SHARE - Summary of Company's Potentially Dilutive Securities Excluded (Details) - shares	3 Months Ended
	Mar. 31, 2026	Mar. 31, 2025
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Total	6,027,250	4,930,918
Performance-based Options Outstanding
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Total	534,063	534,063
Time-based Options Outstanding
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Total	4,379,571	4,396,855
Time-based Restricted Stock Units Outstanding
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Total	1,113,616	0

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 and Financing Activities (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2026	Mar. 31, 2025
Noncash or Part Noncash Acquisitions [Line Items]
Cash paid for interest	$ 1,192	$ 1,164
Cash paid for income taxes	0	41
Operating cash flows from operating leases	1,653	1,657
Non-cash investing and financing activities:
Measurement period adjustment related to Acquisition	0	1,671
ROU assets obtained in exchange for operating lease liabilities	301	1,370
Treasury stock obtained in exchange for shares withheld on vesting	221	0
Purchases of inventory included in accounts payable and accrued expenses and other current liabilities	470	2,961
Purchases of property and equipment included in accounts payable and accrued expenses and other current liabilities	358	3,247
Titan
Non-cash investing and financing activities:
Fair value of liabilities assumed in Acquisition	0	4,045
Non-cash consideration in Acquisition	$ 0	$ 4,597

INTANGIBLE ASSETS, NET

3 Months Ended

Mar. 31, 2026

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)	March 31, 2026			December 31, 2025
Trade name	12.4	$	2,033		$	2,050
Developed technology	14.7		18,098			18,609
Customer relationships	19.6		24,044			24,180
Patents	12.1		12			12
Total intangible assets			44,187			44,850
Less: accumulated amortization			(5,750	)		(5,176	)
Intangible assets, net		$	38,437		$	39,674

Total amortization expense for the three months ended March 31, 2026 and 2025 was approximately $0.7 million and $0.6 million, respectively. Estimated future amortization expense for the next five years is as follows:


2026	$	2,475
2027	$	2,475
2028	$	2,475
2029	$	2,475
2030	$	2,475
Thereafter	$	26,062
Total	$	38,437

EMPLOYEE BENEFITS

3 Months Ended

Mar. 31, 2026

Defined Benefit Plan [Abstract]

EMPLOYEE BENEFITS

NOTE 14 – EMPLOYEE BENEFITS

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 three months ended March 31, 2026 and 2025 was approximately $0.3 million and $0.3 million, respectively.

LONG TERM DEBT - Schedule of Future Maturities of Long Term Debt (Details) $ in Thousands	Mar. 31, 2026 USD ($)
Long-Term Debt, Fiscal Year Maturity [Abstract]
2026	$ 4,484
2027	6,051
2028	6,137
2029	35,081
Total long term debt	$ 51,753

- Definition

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

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.5-02(22))
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Reference 2: http://www.xbrl.org/2003/role/disclosureRef
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Reference 3: http://www.xbrl.org/2003/role/disclosureRef
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Reference 4: http://www.xbrl.org/2003/role/disclosureRef
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+ Details

LEASES (Tables)

3 Months Ended

Mar. 31, 2026

Leases [Abstract]

Summary of Components of Lease Expense

For the three months ended March 31, 2026, the components of the Company’s lease expense were as follows (in thousands):


	Three months ended March 31,
	2026		2025
Operating lease cost	$	1,723	$	1,739
Short-term lease cost		32		31
Variable lease cost		152		109
Total Lease Cost	$	1,907	$	1,879

Summary of Supplemental Balance Sheet Information Related to Leases

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


	2026			2025
Weighted-average remaining lease term (in years)		7.74			7.15
Weighted average discount rate		8.22	%		7.73	%

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 unaudited condensed consolidated balance sheet as of March 31, 2026 were as follows (in thousands):



2026	$	4,689
2027		5,107
2028		4,458
2029		3,684
2030		3,518
Thereafter		12,764
Total lease payments	$	34,220
Less: imputed interest		(9,254	)
Present value of lease liabilities	$	24,966

GOODWILL (Tables)

3 Months Ended

Mar. 31, 2026

Goodwill [Abstract]

Schedule of Change in Carrying Amount of Goodwill

The change in carrying amount of goodwill for the three months ended March 31, 2026 was as follows (in thousands):


	Total
Net balance as of December 31, 2025	$	14,616
Foreign currency translation		(92	)
Net balance as of March 31, 2026	$	14,524

- Definition

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

+ References

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+ Details

SEGMENT INFORMATION - Additional Information (Details)	3 Months Ended
SEGMENT INFORMATION - Additional Information (Details)	Mar. 31, 2026 Segment
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
Number of reportable segment	2
Segment Reporting Information, Description of Products and Services	The Company’s two operating segments derive 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-option expense and monitoring fees. Additionally, the Company’s CODM reviews total segment assets and capital expenditures by segment regularly in making operational decisions.

LONG TERM DEBT (Details) - USD ($)			3 Months Ended
LONG TERM DEBT (Details) - USD ($)	Oct. 03, 2024	Mar. 15, 2024	Mar. 31, 2026	Mar. 31, 2025	Dec. 31, 2025	Apr. 22, 2025
Line of Credit Facility [Line Items]
Line of credit			$ 32,500,000		$ 25,000,000
Date the credit facility matures		Mar. 31, 2029
Unsecured promissory note			3,800,000
European Drilling Projects B.V.
Line of Credit Facility [Line Items]
Unsecured promissory note	$ 5,200,000
Reduce in unsecured promissory note						$ 300,000
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)			100,000	$ 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	$ 32,500,000
Revolving Credit Facility \| SOFR
Line of Credit Facility [Line Items]
Basis spread on variable rate (as a percent)			6.64%
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)			7.73%
Maximum \| Revolving Credit Facility
Line of Credit Facility [Line Items]
Credit facility annual payment			$ 5,000,000

SHARE REPURCHASES (Details) - USD ($)		3 Months Ended	12 Months Ended	15 Months Ended
SHARE REPURCHASES (Details) - USD ($)	May 13, 2025	Mar. 31, 2026	Dec. 31, 2025	Mar. 31, 2026
Share Repurchase Program [Line Items]
Common stock shares repurchased during the period		206,800	505,169	711,969
Share Repurchase Program
Share Repurchase Program [Line Items]
Plan expiration date	Dec. 31, 2026
Share Repurchase Program \| Maximum
Share Repurchase Program [Line Items]
Share repurchase authorized	$ 10,000,000

- Definition

+ References + Details

BUSINESS COMBINATION

3 Months Ended

Mar. 31, 2026

Business Combination [Abstract]

BUSINESS COMBINATION

NOTE 3 – BUSINESS COMBINATION

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 Titan Closing Date. The purchase price allocation for the acquisition is final as of December 31, 2025.

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


Assets acquired:
Cash	$	559
Accounts receivable		3,670
Inventory		658
Other current assets		93
Property, plant and equipment		3,927
Operating lease right-of-use asset		919
Intangible assets		2,657
Total assets acquired		12,484
Liabilities assumed:
Accounts payable		1,090
Operating lease liabilities, current		226
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	$	2,657	25	Multi-period Excess Earnings Method
Total intangible assets	$	2,657

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 $0.3 million during the three months ended March 31, 2025, which is included in other operating and non-operating expenses, net in the consolidated statements of comprehensive income (loss).

The Company’s consolidated statements of comprehensive income (loss) for the three months ended March 31, 2026 and 2025 include Titan’s revenues of $2.1 million and $2.6 million, respectively, and net income of $0.1 million and $0.1 million, respectively.

- Definition

The entire disclosure for business combination.

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+ Details

Pay vs Performance Disclosure - USD ($) $ in Thousands	3 Months Ended
Pay vs Performance Disclosure - USD ($) $ in Thousands	Mar. 31, 2026	Mar. 31, 2025
Pay vs Performance Disclosure
Net Income (Loss)	$ (1,540)	$ (1,669)

- 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

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2026	Mar. 31, 2025
Cash flows from operating activities:
Net income (loss)	$ (1,538)	$ (1,669)
Adjustments to reconcile net income to net cash from operating activities:
Depreciation and amortization	6,927	6,722
Amortization of deferred financing costs	38	87
Non-cash lease expense	1,220	1,383
Unrealized loss (gain) on currency translation	(271)	(114)
Write off of excess and obsolete inventory	18	418
Write off of excess and obsolete property and equipment	0	54
Provision (recovery) for credit losses	316	217
Deferred tax expense (benefit)	(973)	(750)
Loss (gain) on sale of property	0	23
Gain on sale of lost-in-hole equipment	(3,914)	(3,145)
Stock-based compensation expense	719	541
Interest income on related party note receivable	(91)	(91)
Goodwill impairment	0	1,901
Changes in operating assets and liabilities:
Accounts receivable, net	(3,062)	(670)
Prepaid expenses and other current assets	(2,438)	572
Inventories	(136)	2,540
Operating lease liabilities	(1,147)	(1,303)
Accounts payable	2,031	(3,651)
Accrued expenses and other current liabilities	(862)	(634)
Net cash flows from operating activities	(3,163)	2,431
Cash flows from investing activities:
Acquisition of a business, net of cash acquired	0	(5,619)
Purchase of intangible assets	(417)	(681)
Proceeds from sale of property, plant, and equipment	0	14
Purchase of property, plant and equipment	(7,687)	(5,043)
Proceeds from sale of lost-in-hole equipment	5,133	4,049
Net cash flows from investing activities	(2,971)	(7,280)
Cash flows from financing activities:
Proceeds from exercise of stock options	60	0
Payment of deferred financing costs	(87)	0
Purchase of treasury stock	(706)	0
Repayment of term loan	(1,250)	(1,250)
Repayment of promissory note	(235)	(216)
Proceeds from revolving line of credit	19,770	19,349
Repayment on revolving line of credit	(12,270)	(16,491)
Net cash flows from financing activities	5,282	1,392
Effect of changes in foreign exchange rates	44	61
Net change in cash	(808)	(3,396)
Cash at beginning of period	3,648	6,185
Cash at end of period	$ 2,840	$ 2,789

EMPLOYEE BENEFITS (Details) - USD ($) $ in Millions	3 Months Ended
EMPLOYEE BENEFITS (Details) - USD ($) $ in Millions	Mar. 31, 2026	Mar. 31, 2025
Defined Benefit Plan [Abstract]
Defined contribution expense	$ 0.3	$ 0.3
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 three months ended March 31, 2026 and 2025 was approximately $0.3 million and $0.3 million, respectively.

CONDENSED CONSOLIDATED BALANCE SHEETS (Parenthetical) - $ / shares	Mar. 31, 2026	Dec. 31, 2025
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	35,901,128	35,661,297
Common stock, shares outstanding	35,901,128	35,661,297
Treasury stock, shares	775,368	505,169

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Policies)

3 Months Ended

Mar. 31, 2026

Accounting Policies [Abstract]

Organization and Nature of Operations

Basis of Presentation

Unaudited Interim Financial Information

Emerging Growth Company

Use of Estimates

Principles of Consolidation

Foreign Currency Translation and Transactions

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 Contract Liabilities


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
Revenue recognized from contract assets		10,583
Conversion of contract assets into accounts receivable		(9,502	)
Balance at March 31, 2026		8,277

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 the three months ended March 31, 2026 were as follows (in thousands):


Balance at December 31, 2024	$	(1,690	)
Provisions for expected credit losses		(595	)
Foreign currency adjustments		(130	)
Utilization of allowance for credit losses		213
Balance at December 31, 2025	$	(2,202	)
Provisions for expected credit losses		(313	)
Foreign currency adjustments		52
Utilization of allowances for credit losses		-
Balance at March 31, 2026	$	(2,462	)

Concentration of Credit Risk

During the three months ended March 31, 2026 and 2025, the Company did not have any vendors that represented over 10% of total purchases.

Inventories

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, net

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

Impairment of Long-lived Assets

Leases

Lessor Accounting

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

Intangible Assets

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. The Company assesses goodwill impairment annually on October 31. 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.

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. 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. 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 March 31, 2026 and December 31, 2025, the Company did not have any Level 1, 2 or 3 assets or liabilities measured on a recurring basis.

Fair Value of Financial Instruments

Fair value of Financial Instruments

The Company's financial instruments consist 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

Stock-Based Compensation

Treasury Stock

Non-controlling Interest

Earnings Per Share

Income Taxes

attributable to differences between the unaudited condensed consolidated financial statement carrying amounts of existing assets and liabilities and their respective tax bases.

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

Operating Segments

Restructuring

Recent Accounting Pronouncements

SUPPLEMENTAL CASH FLOWS

3 Months Ended

Mar. 31, 2026

Supplemental Cash Flow Elements [Abstract]

SUPPLEMENTAL CASH FLOWS

NOTE 18 – SUPPLEMENTAL CASH FLOWS


	Three Months Ended March 31,
	2026		2025
Supplemental cash flow information:
Cash paid for interest	$	1,192	$	1,164
Cash paid for income taxes		—		41
Operating cash flows from operating leases		1,653		1,657
Non-cash investing and financing activities:
Measurement period adjustment related to EDP Acquisition		—		1,671
ROU assets obtained in exchange for lease liabilities		301		1,370
Fair value of Titan liabilities assumed in Titan Acquisition		—		4,045
Non-cash consideration in Titan Acquisition		—		4,597
Treasury stock obtained in exchange for shares withheld on vesting		221		—
Purchases of inventory included in accounts payable and accrued expenses and other current liabilities		470		2,961
Purchases of property and equipment included in accounts payable and accrued expenses and other current liabilities		358		3,247

STOCK-BASED COMPENSATION

3 Months Ended

Mar. 31, 2026

Share-Based Payment Arrangement [Abstract]

STOCK-BASED COMPENSATION

NOTE 10 – 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 March 31, 2026, there were 1,928,447 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 our stock option activity for the three months ended March 31, 2026:


	Shares			Weighted Average Exercise Price		Weighted Average Remaining Contractual Life (in Years)		Aggregate Intrinsic Value
OUTSTANDING, December 31, 2025		4,933,626		$	3.50		4.97	$	—
Granted		—			—		—		—
Exercised		(20,000	)		3.02		—		—
Forfeited		—			—		—		—
OUTSTANDING, March 31, 2026		4,913,626		$	3.51		4.66	$	4,708
UNVESTED, March 31, 2026		828,330		$	3.02		7.88	$	1,085
EXERCISABLE, March 31, 2026		4,085,296		$	3.61		4.01	$	3,623

During the three months ended March 31, 2026 and 2025, the Company recognized $0.4 million and $0.4 million, respectively, of stock-based compensation expense related to stock options within selling, general, and administrative expenses on the unaudited condensed

consolidated statements of comprehensive income (loss). As of March 31, 2026, total unrecognized compensation expense related to the stock options totaled $1.3 million which will be recognized over the next 0.8 years.

Restricted Stock Units

Restricted stock units ("RSUs") are granted to 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 our restricted stock unit activity for the three months ended March 31, 2026:


	Shares			Weighted Average Exercise Price
UNVESTED, December 31, 2025		1,022,451		$	3.16
Granted		310,995			3.48
Vested		(219,831	)		3.23
Forfeited		—			—
UNVESTED, March 31, 2026		1,113,615		$	3.24

During the three months ended March 31, 2026 and 2025, the Company recognized $0.3 million and $0.2 million, respectively, of stock-based compensation related to RSUs within selling, general, and administrative expenses on the unaudited condensed consolidated statements of comprehensive income (loss). As of March 31, 2026, total unrecognized compensation expense related to the restricted stock units totaled $3.2 million which will be recognized over the next 2.9 years.

Performance Share Awards

During the three months ended March 31, 2026, the Company granted performance-based restricted stock units (“PSUs”) under the Drilling Tools International Corporation 2023 Omnibus Incentive Plan. The Company granted 665,836 to certain employees. Each PSU represents the right to receive one share of the Company’s common stock upon vesting, subject to the achievement of specified performance conditions and continued service. The PSUs are subject to a three-year performance period and vest, if at all, based on the Company's achievement of cumulative performance goals. The PSUs are eligible to vest based on the achievement of a performance metric, with payouts at the end of the vesting period ranging from 50% to 200% of target. The performance target is established annually within the three-year cumulative performance period, and final payout is determined following certification by the Compensation Committee after the end of the performance period. During the three months ended March 31, 2026, the Company recognized $0.1 million of stock-based compensation related to PSUs within selling, general, and administrative expenses on the unaudited condensed consolidated statements of comprehensive income (loss). As of March 31, 2026, total unrecognized compensation expense related to the stock options totaled $1.8 million which will be recognized over the next 2.9 years.

SHARE REPURCHASES

3 Months Ended

Mar. 31, 2026

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, 2026.

Share repurchases by quarter are 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
Fiscal year 2025		505,169		2.50		1,265,029		8,734,971
First quarter 2026		206,800		3.41		706,050		8,028,921
Total		711,969	$	2.77	$	1,971,079	$	8,028,921

CONDENSED 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 Stockholders' Equity	Non-controlling Interest
Beginning balance at Dec. 31, 2024	$ 119,959	$ 3		$ 125,415	$ (3,582)	$ (1,877)	$ 119,959
Beginning balance, shares at Dec. 31, 2024		34,704,696
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
Stock-based compensation	541			541			541
Foreign currency translation adjustment, net of tax	942					942	942
Net income (loss)	(1,669)				(1,669)		(1,669)
Ending balance at Mar. 31, 2025	122,696	$ 4		128,878	(5,251)	(935)	122,696
Ending balance, shares at Mar. 31, 2025		35,592,737
Beginning balance at Dec. 31, 2025	122,861
Beginning balance at Dec. 31, 2025	$ 122,873	$ 4	$ (1,265)	130,801	(7,343)	664	122,861	$ 12
Beginning balance, shares at Dec. 31, 2025		35,661,297
Beginning balance, shares at Dec. 31, 2025	505,169		505,169
Stock option exercise	$ 60			60			60
Stock option exercise, shares		20,000
Stock-based compensation	719			719			719
Treasury stock purchases	(706)		$ (706)				(706)
Treasury stock purchases, shares			206,800
Foreign currency translation adjustment, net of tax	(754)					(754)	(754)
Restricted stock vesting	(221)		$ (221)				(221)
Restricted stock vesting, shares		219,831	63,399
Net income (loss)	(1,538)				(1,540)		(1,540)	2
Ending balance at Mar. 31, 2026	120,433	$ 4	$ (2,192)	$ 131,580	$ (8,883)	$ (90)	$ 120,419	$ 14
Ending balance at Mar. 31, 2026	$ 120,419
Ending balance, shares at Mar. 31, 2026		35,901,128
Ending balance, shares at Mar. 31, 2026	775,368	775,368

SEGMENT INFORMATION - Summary of Additional Financial Information by Operating Segment (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2026	Mar. 31, 2025	Dec. 31, 2025
Segment Reporting Information [Line Items]
Total assets	$ 224,700	$ 233,169	$ 222,181
Operating Segments
Segment Reporting Information [Line Items]
Total capital expenditures	7,687	5,043
Total assets	215,876	224,787
Operating Segments \| Western Hemisphere
Segment Reporting Information [Line Items]
Total capital expenditures	7,098	4,583
Total assets	157,743	159,598
Operating Segments \| Eastern Hemisphere
Segment Reporting Information [Line Items]
Total capital expenditures	589	460
Total assets	58,133	65,189
Corporate and Other
Segment Reporting Information [Line Items]
Total assets	$ 8,824	$ 8,382

- Definition

Amount of asset recognized for present right to economic benefit.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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Reference 2: http://www.xbrl.org/2003/role/disclosureRef
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Reference 3: http://www.xbrl.org/2003/role/disclosureRef
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Reference 4: http://www.xbrl.org/2003/role/disclosureRef
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Reference 14: http://www.xbrl.org/2003/role/disclosureRef
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+ Details

INTANGIBLE ASSETS, NET (Tables)

3 Months Ended

Mar. 31, 2026

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)	March 31, 2026			December 31, 2025
Trade name	12.4	$	2,033		$	2,050
Developed technology	14.7		18,098			18,609
Customer relationships	19.6		24,044			24,180
Patents	12.1		12			12
Total intangible assets			44,187			44,850
Less: accumulated amortization			(5,750	)		(5,176	)
Intangible assets, net		$	38,437		$	39,674

Schedule of Estimated Future Amortization Expense

Estimated future amortization expense for the next five years is as follows:


2026	$	2,475
2027	$	2,475
2028	$	2,475
2029	$	2,475
2030	$	2,475
Thereafter	$	26,062
Total	$	38,437

LEASES - Summary of Future Undiscounted Cash Flows (Details) $ in Thousands	Mar. 31, 2026 USD ($)
Lessee, Operating Lease, Liability, to be Paid, Fiscal Year Maturity [Abstract]
2026	$ 4,689
2027	5,107
2028	4,458
2029	3,684
2030	3,518
Thereafter	12,764
Total lease payments	34,220
Less: imputed interest	(9,254)
Present value of lease liabilities	$ 24,966

INTANGIBLE ASSETS, NET - Summary of Components of Intangible Assets, Net (Details) - USD ($) $ in Thousands	Mar. 31, 2026	Dec. 31, 2025
Indefinite-Lived Intangible Assets [Line Items]
Total intangible assets	$ 44,187	$ 44,850
Less: accumulated amortization	(5,750)	(5,176)
Intangible assets, net	$ 38,437	39,674
Trade Name
Indefinite-Lived Intangible Assets [Line Items]
Weighted-average remaining amortization period (in years)	12 years 4 months 24 days
Total intangible assets	$ 2,033	2,050
Developed Technology
Indefinite-Lived Intangible Assets [Line Items]
Weighted-average remaining amortization period (in years)	14 years 8 months 12 days
Total intangible assets	$ 18,098	18,609
Customer Relationships
Indefinite-Lived Intangible Assets [Line Items]
Weighted-average remaining amortization period (in years)	19 years 7 months 6 days
Total intangible assets	$ 24,044	24,180
Patents
Indefinite-Lived Intangible Assets [Line Items]
Weighted-average remaining amortization period (in years)	12 years 1 month 6 days
Total intangible assets	$ 12	$ 12

- 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 (Details) - USD ($) $ in Millions	3 Months Ended
LEASES (Details) - USD ($) $ in Millions	Mar. 31, 2026	Mar. 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
Tool rental revenue	$ 28.9	$ 34.5
Minimum
Lessee, Lease, Description [Line Items]
Remaining lease term	1 month
Maximum
Lessee, Lease, Description [Line Items]
Remaining lease term	14 years

LEASES

3 Months Ended

Mar. 31, 2026

Leases [Abstract]

LEASES

NOTE 13 – 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 March 31, 2026.

For the three months ended March 31, 2026, the components of the Company’s lease expense were as follows (in thousands):


	Three months ended March 31,
	2026		2025
Operating lease cost	$	1,723	$	1,739
Short-term lease cost		32		31
Variable lease cost		152		109
Total Lease Cost	$	1,907	$	1,879

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


	2026			2025
Weighted-average remaining lease term (in years)		7.74			7.15
Weighted average discount rate		8.22	%		7.73	%



2026	$	4,689
2027		5,107
2028		4,458
2029		3,684
2030		3,518
Thereafter		12,764
Total lease payments	$	34,220
Less: imputed interest		(9,254	)
Present value of lease liabilities	$	24,966

The Company leases downhole drilling tools to companies in the oil and natural gas industry. Such leases are accounted for in accordance with ASC 842. For the three months ended March 31, 2026 and 2025, tool rental revenue was approximately $28.9 million and $34.5 million, respectively. Our lease contract periods are short-term in nature and are typically daily, monthly, per well, or footage based. Due to the short term nature of the contracts, no maturity table is presented.