Drilling Tools International Corporation (DTI) 2023年年度报告「NASDAQ」.pdf

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1、STRENGTH.INNOVATION.PERFORMANCE.2023 ANNUAL REPORTDRILLING TOOLS INTERNATIONAL 2023 ANNUAL REPORT(1)Adjusted EBITDA is a non-GAAP financial measure.For a reconciliation of Adjusted EBITDA to net income of$14.8 million,$21.1 million,$2.1 million,and$(18.5)million in Fiscal 2023,2022,2021 and 2020,res

2、pectively,see“Item 7,Managements Discussion and Analysis of Financial Condition and Results of Operations Non-GAAP Measures in our Annual Report on Form 10-K included in this annual report to stockholders.(2)US locations.334%Revenue grew by 334%from$35 million in 2012 to$152 million in 202373%Since

3、2013,DTI has improved its Total Recordable Incident Rate by 73%,resulting in a rate of 1.23 for 202365K+Over 65,000 tools in our fleet24DTI operates from 16 locations across North America and has 8 International stocking points across Europe and the Middle EastREVENUE(in Millions)$67.6$77.4$129.6$15

4、2.020212223ADJUSTED EBITDA1$8.3$15.7$41.2$51.020212223TOTAL RECORDABLE INCIDENT RATE TRIR21.260.541.211.2320212223DEAR FELLOW STOCKHOLDERS:Wayne Prejean President and Chief Executive Officer2023 was a momentous year for Drilling Tools International as we executed on numerous strategic initiatives an

5、d delivered strong financial performance.Specifically,our accomplishments included:Reported a 17.4%increase in total revenue to$152 million over 2022,including$119.2 million in tool rentals and$32.8 million in product sales.Increased adjusted EBITDA by 24%,reaching$51.0 million when compared to 2022

6、.Achieved$14.7 million in net income,$0.59 earnings per share,33.6%in adjusted EBITDA margin,and$7.3 million in adjusted free cash flow.Ended the year with$6 million of cash and cash equivalents and no bank debt.“Becoming a public company provides us with the financial flexibility and resources to c