Drilling Tools International (DTI) rents downhole drilling tools to oil and gas companies for use in horizontal and directional drilling operations. DTI's fleet of over 65,000 tools — including directional drilling tools, stabilizers, drill collars, hole openers, and roller reamers — are deployed into the bottom-hole assembly of a drill string to steer and optimize the wellbore. Customers rent rather than own these tools because the right tool depends on the specific formation, drilling methodology, and well depth, making ownership of a full tool range capital-intensive and inefficient. DTI's customers are roughly split between oilfield services companies (~48% of revenue), including Baker Hughes, Halliburton, and SLB, and E&P operators (~48%), including Chevron, EOG Resources, and Occidental. Rental fees drive ~81% of revenue, with the remainder from product sales and tool replacement charges. DTI operates primarily in North America (~86% of revenue), where it claims to be the market leader in land drilling, and is expanding internationally (~14% of revenue) through acquisitions in EMEA and APAC. DTI's growth strategy focuses on selling directly to E&P operators, acquiring proprietary tools that command premium pricing, and consolidating the fragmented international rental tools market through M&A. Profitability is driven by rig count, fleet utilization, and pricing, with a largely variable cost structure that scales with drilling activity.