What is Innovex International's contract assets?

Innovex International (INVX) reported contract assets of $2.8M in Q1 2026.

How has Innovex International's contract assets changed year-over-year?

Innovex International's contract assets decreased by 49.1% year-over-year, from $5.51M to $2.8M.

What does contract assets mean?

Revenue recognized under ASC 606 where the right to payment is conditional on something other than the passage of time — work performed but not yet billable.

Innovex International INVX Contract Assets

Contract Assets at other companies

NOVA, Inc.NOV

$634M-6.8%

Weatherford InternationalWFRD

$70M+62.8%

TechnipFMCFTI

$1.1B+2.7%

Oceaneering InternationalOII

$224.41M-16.7%

Other financials

Income statement

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Revenue$239.0M-0.6%

Gross profit$84.5M+10.5%

Operating income-$21.8M-200%

Net income-$16.7M-213%

EPS (diluted)-$0.24-214%

Balance sheet

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Cash & equivalents$200.7M+195%

Total debt$100.4M+7.5%

Total equity$1.0B+5.4%

Total assets$1.3B+7.7%

Cash flow

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Operating cash flow$19.8M-36.2%

CapEx$223.0K-34.6%

Free cash flow$19.6M-36.2%

Valuation

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Market cap$1.76B+34.2%

Enterprise value$1.66B+23.7%

P/E33.9×+24.5×

P/S1.8×+0.1×

Profitability

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Gross margin31.9%-0.9pp

Operating margin9.1%+2.7pp

Net margin5.3%-12.9pp

FCF margin15%-9.6pp

Returns & leverage

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Return on equity5.2%-15.8pp

Debt / equity0.1×0.0×

Current ratio5.1×+0.8×

Where this comes from

Reported directly by Innovex International in its filing.

Tagged under the XBRL concept us-gaap:ContractWithCustomerAssetNetCurrent.

The official record: Innovex International’s 10-Q, filed May 5, 2026, on SEC EDGAR. View the filing →

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Questions, answered.

What is Innovex International's contract assets?: Innovex International (INVX) reported contract assets of $2.8M in Q1 2026.
How has Innovex International's contract assets changed year-over-year?: Innovex International's contract assets decreased by 49.1% year-over-year, from $5.51M to $2.8M.
What does contract assets mean?: Revenue recognized under ASC 606 where the right to payment is conditional on something other than the passage of time — work performed but not yet billable.