Filing Flows › Innovex International (INVX) › Q2 2025
Innovex International (INVX) Q2 2025 earnings results (second quarter 2025)
10-Q filed Aug 6, 2025
Innovex International (INVX) reported revenue of $224M for the second quarter 2025 (Q2 2025), +86% from a year earlier and -7% from the quarter before. Operating margin was 10.1%, net earnings $15.3M (6.8% of revenue).
Innovex International, Q2 2025: revenue $224M (+86% year over year), operating margin 10.1%, net earnings $15.3M, operating cash flow $59.2M. The chart follows the revenue to costs, profit and cash.
| Q2 2025 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $224M | -7% | +86% |
| Operating profit | $22.7M | +4% | +74% |
| Net earnings | $15.3M | +4% | +61% |
| Operating cash flow | $59.2M | +90% | +50% |
What changed
Revenue was $224.2M in Q2 2025, up 86% year over year and down 7% from the previous quarter. Product was the largest line at 67% of revenue. Product added $39.7M year over year (up 36%), 38% of the total change.
Operating profit was $22.7M, a 10.1% margin (down 0.7 points year over year). Of the extra revenue versus a year earlier, 9% reached operating profit, below the 11% margin then. Total costs grew 88% against revenue growth of 86%. The fastest-growing cost line was Other operating costs (+361%). Net earnings were $15.3M, up 61% year over year. The effective tax rate was 31.0%.
Operating cash flow was $59.2M (up 50% year over year), 386% of net earnings. Non-cash charges added back $15.0M of depreciation and amortization and $3.8M of share-based compensation. Working capital and other items added $25.1M.
Questions
What was Innovex International's revenue in the second quarter 2025?
Innovex International (INVX) reported revenue of $224M for the second quarter 2025 (Q2 2025), +86% from a year earlier and -7% from the quarter before.
Was Innovex International profitable in the second quarter 2025?
Operating profit was $22.7M (10.1% of revenue) and net earnings $15.3M.