Innovex Tops Q2 Estimates, Guides Q3 Revenue to $260–$270M, and Closes TCO Acquisition
INVX sits 98% above its 52-week low of $15.6 on light trading volume (0.3× avg).
Summary
Innovex posted Q2 revenue of $245M and Adjusted EBITDA of $48M, beating consensus, and set Q3 revenue guidance at $260–$270M. The $95M TCO acquisition closed on July 1, enhancing the subsea portfolio.
Key Events · Earnings and Guidance · INVX
-
Q2 Revenue and EBITDA Beat
Revenue came in at $245M, topping the $240.76M consensus, while Adjusted EBITDA of $48M exceeded the $44M estimate, with margins holding steady at 20%.
-
Q3 Guidance Raised
The company guided Q3 revenue to $260–$270M and Adjusted EBITDA to $51–$57M, including contributions from the newly acquired TCO Group.
-
TCO Acquisition Closed
The $95M cash-and-stock acquisition of TCO Group AS closed on July 1, adding complementary subsea technologies that are expected to be accretive to EPS.
-
Strong Balance Sheet
Ending Q2 with $222M in cash and no bank debt provides significant flexibility for further M&A and capital returns.
Analysis · INVX · Energy & Transportation
A clean Q2 beat underscores Innovex's momentum, with revenue of $245M surpassing the $240.76M consensus and Adjusted EBITDA of $48M clearing the $44M estimate, fueled by strengthening international activity and subsea demand. The $95M TCO acquisition, which closed on July 1, brings high-margin, capital-light technology that broadens the company's international footprint. Looking ahead, Q3 guidance of $260–$270M in revenue and $51–$57M in Adjusted EBITDA incorporates TCO's contributions and points to sustained growth. With $222M in cash and no bank debt, the balance sheet provides ample capacity for a pipeline of bolt-on M&A. Trading near its 52-week high, the stock reflects market confidence in both execution and the outlook.
How filings like this one have moved
In the 30 days to Sep 16, 2026, 35.8% of the 1190 measured filings Wiseek scored 8 moved their stock by 5% or more by the next session's close. The median move was -0.45%. These are measured outcomes after filings of this importance, not a forecast for this one.
Measured one observation per ticker per day, after exclusions. Current figures: Filing Impact Tracker · open dataset
At the time of this filing, INVX was trading at $30.91 on NYSE in the Energy & Transportation sector, with a market capitalization of approximately $2.2B. The 52-week trading range was $15.60 to $32.25. This filing was assessed with positive market sentiment and an importance score of 8 out of 10.