Drilling Tools Intl Corp Files 2024 10-K
Ticker: DTI · Form: 10-K · Filed: Mar 14, 2025 · CIK: 1884516
| Field | Detail |
|---|---|
| Company | Drilling Tools International Corp (DTI) |
| Form Type | 10-K |
| Filed Date | Mar 14, 2025 |
| Risk Level | medium |
| Sentiment | neutral |
Sentiment: neutral
Topics: 10-K, acquisition, financials, oil-gas
TL;DR
DTI filed its 2024 10-K, showing acquisitions and stock activity. Full financials out now.
AI Summary
Drilling Tools International Corp. (DTI) filed its 2024 10-K on March 14, 2025, reporting on its fiscal year ending December 31, 2024. The company, formerly ROC Energy Acquisition Corp., is involved in the oil and gas machinery and equipment sector. Key events include the acquisition of Casing Technology Group Limited on March 15, 2024, and the issuance of restricted stock units in 2025. DTI's business address is in Houston, Texas.
Why It Matters
This filing provides a comprehensive overview of Drilling Tools International Corp.'s financial performance and strategic activities for the 2024 fiscal year, including significant acquisitions and operational details.
Risk Assessment
Risk Level: medium — The filing mentions customer concentration risk with 'TwoCustomers' and potential restatement adjustments, indicating areas of financial and operational uncertainty.
Key Numbers
- 2024 — Fiscal Year End (The period covered by the 10-K filing.)
- 20250314 — Filing Date (The date the 10-K was officially submitted to the SEC.)
- 0000950170-25-039259 — Accession Number (Unique identifier for this SEC filing.)
Key Players & Entities
- Drilling Tools International Corp. (company) — Filer
- ROC Energy Acquisition Corp. (company) — Former company name
- Casing Technology Group Limited (company) — Acquired entity
- Superior Drilling Products Inc. (company) — Mentioned in relation to fair value inputs
- Hicks Holdings Operating LLC (company) — Mentioned in relation to fiscal year 2023
- TwoCustomers (company) — Customer concentration risk
- March 15, 2024 (date) — Date of acquisition of Casing Technology Group Limited
- December 31, 2024 (date) — Fiscal year end
- 2025-02-28 (date) — Date related to restricted stock units
FAQ
What was the financial impact of acquiring Casing Technology Group Limited on Drilling Tools International Corp.?
The filing indicates the acquisition of Casing Technology Group Limited occurred on March 15, 2024, and mentions 'DevelopedTechnologyRights' related to it, but specific financial impact figures are not detailed in the provided snippet.
What is the nature of the customer concentration risk mentioned in the filing?
The filing identifies 'TwoCustomers' as a source of customer concentration risk, suggesting a significant portion of revenue may come from a small number of clients.
When did Drilling Tools International Corp. change its name from ROC Energy Acquisition Corp.?
The company's name change from ROC Energy Acquisition Corp. to Drilling Tools International Corp. occurred on September 23, 2021.
Are there any indications of financial restatements in the filing?
Yes, the filing includes 'srt:RestatementAdjustmentMember', indicating that restatements may have occurred or are being considered.
What is the significance of 'dti:TwoThousandAndTwentyFiveRestrictedStockUnitsMember'?
This likely refers to restricted stock units granted or issued by the company in the year 2025, as indicated by the date '2025-02-28' associated with it.
Filing Details
This Form 10-K (Form 10-K) was filed with the SEC on March 14, 2025 regarding Drilling Tools International Corp (DTI).