Drilling Tools International Corporation filed its quarterly report on Form 10-Q for the period ended September 30, 2026, with the SEC on November 6, 2026, disclosing financial results and operational updates for the third quarter.

Key Highlights

  • Shares outstanding: As of November 4, 2026, the company had 35,282,224 shares of common stock, $0.0001 par value per share, outstanding.
  • Cash position: The filing reported cash of $2,965 thousand as of September 30, 2026, compared to $3,648 thousand as of December 31, 2025.
  • Accounts receivable: Net accounts receivable stood at $44,607 thousand as of September 30, 2026, up from $37,683 thousand at December 31, 2025.
  • Pending acquisition: The company disclosed a pending acquisition of Saltire Energy Limited and Foxley Energy Limited (collectively referred to as "the Group"), identified as the "Saltire Acquisition," involving the planned issuance of 17,355,139 shares of common stock to the sellers at closing.
  • Filer status: The registrant is classified as a non-accelerated filer, smaller reporting company, and emerging growth company under applicable SEC definitions.
  • Credit facility: The company referenced its Second Amended and Restated Revolving Credit, Term Loan and Security and Guaranty Agreement with PNC Bank, National Association, dated March 15, 2024, as a factor in its risk considerations.

Drilling Tools International Reports Q3 2026 Financials Amid Saltire Acquisition Plans

Drilling Tools International Corporation (NASDAQ:DTI), headquartered at 10370 Richmond Ave., Suite 1000, Houston, Texas 77042, filed its Form 10-Q for the quarterly period ended September 30, 2026. According to the filing, the company's cash declined to $2,965 thousand at the end of the third quarter from $3,648 thousand at December 31, 2025. Net accounts receivable increased to $44,607 thousand from $37,683 thousand over the same period, according to the condensed consolidated balance sheets included in the report.

A significant disclosure in the filing concerns the pending Saltire Acquisition. The company disclosed plans to acquire Saltire Energy Limited and Foxley Energy Limited, with closing conditions that include the effectiveness of a registration statement on Form S-4, stockholder approval of a share issuance, and Nasdaq approval of the listing of shares to be issued. According to the filing, closing would involve the issuance of 17,355,139 shares of common stock to the sellers. The company also noted that the acquisition financing and integration present risks, including potential dilution and fluctuations in the exchange rate between the U.S. dollar and the British pound sterling.

The filing also referenced a proposed ratification under Section 204, or validation under Section 205, of the General Corporation Law of the State of Delaware regarding certain prior director elections and related corporate acts. The company indicated it had not elected to use the extended transition period for complying with new or revised financial accounting standards, as permitted for emerging growth companies. All forward-looking statements in the report, including those related to the Saltire Acquisition, are the company's own and subject to its cautionary language as set forth in the filing.

What Was Disclosed

Drilling Tools International filed its Q3 2026 Form 10-Q reporting cash of $2,965 thousand, net accounts receivable of $44,607 thousand, 35,282,224 shares outstanding, and details of the pending Saltire Acquisition involving a planned issuance of 17,355,139 shares.