Innovex Q4 revenue rises 14% to $274 million; net income falls to $14 million
Innovex reported fourth-quarter 2025 revenue of $274 million, up 14% from the prior quarter, but net income fell to $14 million from $39 million in the third quarter and $32 million a year earlier. The company guided first-quarter 2026 revenue to $225 million to $235 million and Adjusted EBITDA to $38 million to $42 million, both below its fourth-quarter results, citing lower subsea deliveries and seasonality.
Key points
- Q4 2025 revenue of $274 million, up from $240 million in Q3 2025 and $251 million in Q4 2024
- Q4 2025 net income of $14 million (5% margin) and diluted EPS of $0.20, versus $0.57 in Q3 2025
- Q4 2025 Adjusted EBITDA of $52 million (19% margin); full-year 2025 free cash flow of $156 million
- Q1 2026 guidance: revenue of $225 million to $235 million and Adjusted EBITDA of $38 million to $42 million
The filing
Written by AI on Nov 8, 2026, 1:55 AM ET, from this filing only. Written later: this filing was briefed after the fact, when past filings were added to the site, so the brief may be read with hindsight; the filing itself is the record of what was known on February 23, 2026.
Briefs are written by AI from the filing text and can contain mistakes — open the filing before acting on anything. Impact (1-5) and tone are the AI's reading of the filing for shareholders, not a price forecast. Not investment advice.