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How Innovex International (INVX) makes money

Innovex International (INVX) made $265M of revenue in the third quarter 2026 (Q3 2026), +10% from a year earlier. Product brought in $190M (72%); Leasing brought in $43.4M (16%); Service brought in $31.3M (12%). Of every dollar of revenue, 12¢ was left as operating profit, 10¢ was left as net earnings.

Drawing the Sankey…

Innovex International revenue by segment, Q3 2026Innovex International revenue by segment, Q3 2026Product$190MLeasing$43.4MService$31.3M
Innovex International: revenue by line, Q1 2025 to Q3 2026Innovex International: revenue by line, Q1 2025 to Q3 2026ProductLeasingServiceProduct: $190M latest$190MLeasing: $43.4M latest$43.4MService: $31.3M latest$31.3MQ1 2025Q2 2025Q3 2025Q4 2025Q1 2026Q2 2026Q3 2026
Service went from 15% of revenue in Q1 2025 to 12% in Q3 2026, the largest shift in the mix.
Innovex International revenue by quarterInnovex International revenue by quarter$240MQ1 2025$224MQ2 2025$240MQ3 2025$274MQ4 2025$239MQ1 2026$245MQ2 2026$265MQ3 2026
Innovex International: where each dollar of revenue goesInnovex International: where each dollar of revenue goesOperating profit12¢Income tax3¢Net earnings10¢Operating cash flow15¢Free cash flow12¢

Revenue by segment, Q3 2026

SegmentRevenueShareQ/QY/Y
Product$190M71.8%+14%+15%
Leasing$43.4M16.4%-5%+2%
Service$31.3M11.8%-1%-2%

Where each dollar of revenue goes

LineQ3 2026% of revenue
Revenue$265M100.0%
Operating profit$32.3M12.2%
Income tax$8.5M3.2%
Net earnings$26.3M9.9%
Operating cash flow$38.8M14.6%
Free cash flow$32.4M12.2%

Revenue, quarter by quarter

QuarterRevenueY/Y
Q3 2026$265M+10%
Q2 2026$245M+9%
Q1 2026$239M-0.6%
Q4 2025$274M+9%
Q3 2025$240M+58%
Q2 2025$224M+86%
Q1 2025$240M+118%

From Innovex International's 10-Q filed Nov 4, 2026 (on EDGAR).

Questions

How does Innovex International make money?

Innovex International (INVX) made $265M of revenue in the third quarter 2026 (Q3 2026), +10% from a year earlier. Product brought in $190M (72%); Leasing brought in $43.4M (16%); Service brought in $31.3M (12%). Of every dollar of revenue, 12¢ was left as operating profit, 10¢ was left as net earnings.

What is Innovex International's biggest business?

Product: $190M in the third quarter 2026, 72% of revenue, +15% from a year earlier.

What is Innovex International's profit margin?

Net earnings were $26.3M, 9.9% of revenue, in the third quarter 2026; the operating margin was 12.2%.

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Updated Nov 8, 2026. Read automatically from SEC filings and public data; errors are possible. Not investment advice.