The EPS miss on a GAAP basis contrasts with strong revenue and Adjusted EBITDA growth. The activist presence (Amberjack Capital 13D/A) adds scrutiny on capital allocation, especially given $63.3M spent on acquisitions this quarter. Watch the Q4 earnings call for updates on M&A strategy and the Impulse litigation trajectory.
Price Chart
Executive Summary
Adjusted EBITDA rose to $55M with a 21% margin. Q4 guidance of $260-$270M revenue and $53-$58M Adjusted EBITDA implies continued sequential growth. The filing comes 80 days after an activist stake disclosure by Amberjack Capital, adding pressure for capital allocation discipline.
Key Financial Metrics
Key Facts
- Q3 2026 revenue of $265M, up 10% YoY and 8% QoQ
- Adjusted EBITDA of $55M, up 27% YoY; margin of 21% vs 18% a year ago
- Free cash flow of $32M; cash of $189M with no bank debt
- Q4 2026 guidance: revenue $260-$270M, Adjusted EBITDA $53-$58M
- Activist investor Amberjack Capital disclosed a 13D/A stake 80 days prior
- Legal settlement accrual for Impulse Litigation increased to $53.4M
- Paid $63.3M for acquisitions in the quarter
Financial Impact
Revenue beat consensus by $4.8M (1.8%); EPS missed by $0.02 (5.1%); Adjusted EBITDA up 27% YoY
Segment Breakdown
| Segment | Revenue | Growth |
|---|---|---|
| North America Onshore | $145.7M | +10.4% |
| International & Offshore | $119.4M | +10.5% |
Risk Factors
- Ongoing Impulse litigation with $53.4M accrued; additional charges possible
- Geopolitical disruptions in the Middle East and Iran conflict affecting operations
- Activist investor may push for changes in strategy or capital return
Market Snapshot
Investment Themes
Documents Analyzed
This report is based on 6 SEC documents filed with EDGAR.
| Document | Accession Number |
|---|---|
| 8-K Filing (Primary) | 0001193125-26-437829 |
| Document: invx-20261029.htm | 0001193125-26-437829 |
| Document: 0001193125-26-437829-index-headers.html | 0001193125-26-437829 |
| Document: 0001193125-26-437829-index.html | 0001193125-26-437829 |
| Document: 0001193125-26-437829.txt | 0001193125-26-437829 |
| 8-K Data (Synthetic) | 0001193125-26-437829 |
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
Oct 29, 2026 3d ago | 8-K | $30.32 | awaiting T+20 | awaiting T+20 | $28.08 (−7.39%) |
Oct 5, 2026 27d ago | SC 13G/A | $28.41 | awaiting T+20 | awaiting T+20 | $28.08 (−1.16%) |
Aug 10, 2026 11w ago | Insider Cluster | $30.14 $29.84 | ▲ +1.00% | ▼ −0.06% | $28.08 (+6.83%) |
Jun 15, 2026 19w ago | 8-K | $28.17 $25.50 | ▼ −9.48% | ▼ −8.73% | $28.08 (−0.32%) |
May 4, 2026 25w ago | 8-K | $26.68 $28.04 | ▲ +5.10% | ▲ +0.14% | $28.08 (+5.25%) |
Mar 27, 2026 31w ago | DEFA14A | $24.25 $28.15 | ▲ +16.08% | ▲ +3.49% | $28.08 (+15.79%) |
Mar 11, 2026 33w ago | 8-K | $24.13 $26.51 | ▲ +9.86% | ▲ +7.89% | $28.08 (+16.37%) |
Feb 24, 2026 35w ago | Insider Cluster | $28.90 $24.73 | ▲ +14.43% | ▲ +9.44% | $28.08 (+2.84%) |
Feb 24, 2026 35w ago | Insider Cluster | $28.90 $24.73 | ▲ +14.43% | ▲ +9.44% | $28.08 (+2.84%) |
US Market Status
Subscribe to SecBot
Get Real-Time SEC Filing Intelligence
Comprehensive SEC filing analysis delivered the moment filings hit EDGAR. Sentiment scoring, impact analysis, and actionable insights for every material event.
Create a free account Live analysis, Telegram alerts, watchlists and the MCP server for subscribers