Innovex (INVX) Q3 2026 Earnings Call Transcript

Innovex (INVX) reported Q3 2026 results showing continued revenue growth and improving margins. The company posted revenue of $265 million, up 8% sequentially and 10% year over year, supported by increased activity and market share gains. Adjusted EBITDA rose to $55 million from $48 million in the prior quarter, lifting the adjusted EBITDA margin to 21% from 20% in Q2 2026 and 18% in Q3 2025. Management guided Q4 revenue to $260 million–$270 million and adjusted EBITDA to $53 million–$58 million. North America onshore revenue totaled $146 million, up 11% sequentially, while international and offshore revenue was $119 million, up 5% after the TCO acquisition. The quarter generated free cash flow of $32 million and the company maintained zero bank debt, with cash and equivalents of $189 million as of Sept. 30, 2026.