Company research
Independence Contract Drilling, Inc.
CIK 1537028Updated Sep 24, 2026
Filing activity
Latest filing
50 filings on record · 15-12G, 8-K, 4, 144, 10-Q, NT 10-Q.
Recent filings
Show 5 more recent filings
Financials
FY 2023 · USDSource
Source
Source
Source
Source
balance sheet · annual statements
| Line item | FY 2023 | FY 2022 | FY 2021 | FY 2020 |
|---|---|---|---|---|
| ASSETS | ||||
| AssetsUSD | 394,677,000Source | 429,714,000Source | 397,104,000Source | 413,209,000Source |
| Property, Plant and Equipment, NetUSD | — | — | — | 382,239,000Source |
| Current assets: | ||||
| Cash and Cash Equivalents, at Carrying ValueUSD | 5,565,000Source | 5,326,000Source | 4,140,000Source | 12,279,000Source |
| Accounts Receivable, after Allowance for Credit Loss, CurrentUSD | 31,695,000Source | 39,775,000Source | 22,211,000Source | 10,023,000Source |
| Assets, CurrentUSD | 43,576,000Source | 51,670,000Source | 32,309,000Source | 27,442,000Source |
| Prepaid Expense and Other Assets, CurrentUSD | 4,759,000Source | 4,736,000Source | 4,787,000Source | 4,102,000Source |
| Operating Lease, Right-of-Use AssetUSD | 2,205,000Source | 976,000Source | 1,437,000Source | 2,150,000Source |
| Other Assets, NoncurrentUSD | 2,908,000Source | 1,960,000Source | 2,449,000Source | 3,528,000Source |
| LIABILITIES AND EQUITY | ||||
| LiabilitiesUSD | 213,098,000Source | 215,002,000Source | 201,875,000Source | 166,176,000Source |
| Stockholders’ equity: | ||||
| Common Stock, Value, IssuedUSD | 144,000Source | 136,000Source | 102,000Source | 62,000Source |
| Retained Earnings (Accumulated Deficit)USD | -436,794,000Source | -399,097,000Source | -333,776,000Source | -267,064,000Source |
| Stockholders' Equity Attributable to ParentUSD | 181,579,000Source | 214,712,000Source | 195,229,000Source | 247,033,000Source |
| Additional Paid in Capital, Common StockUSD | 622,169,000Source | 617,606,000Source | 532,826,000Source | 517,948,000Source |
| Liabilities and EquityUSD | 394,677,000Source | 429,714,000Source | 397,104,000Source | 413,209,000Source |
| Current liabilities: | ||||
| Liabilities, CurrentUSD | 40,587,000Source | 52,039,000Source | 38,287,000Source | 22,432,000Source |
| Operating Lease, Liability, CurrentUSD | 934,000Source | 751,000Source | 693,000Source | 964,000Source |
| Accounts Payable, CurrentUSD | 22,990,000Source | 31,946,000Source | 15,304,000Source | 4,072,000Source |
| Operating Lease, Liability, NoncurrentUSD | 1,375,000Source | 373,000Source | 1,036,000Source | 1,729,000Source |
| Deferred Income Tax Liabilities, NetUSD | 9,761,000Source | 12,266,000Source | 19,037,000Source | 505,000Source |
| Other Liabilities, NoncurrentUSD | 8,201,000Source | 7,474,000Source | 2,811,000Source | 2,704,000Source |
| Additional Financial Items | ||||
| Accrued Liabilities, CurrentUSD | 16,371,000Source | 17,608,000Source | 15,617,000Source | 10,723,000Source |
| Deferred Tax Liabilities, NetUSD | 9,761,000Source | 12,266,000Source | 19,037,000Source | 505,000Source |
| Long-term Debt, Current MaturitiesUSD | — | — | 0Source | — |
cash flow · annual statements
| Line item | FY 2023 | FY 2022 | FY 2021 | FY 2020 |
|---|---|---|---|---|
| Cash flows from operating activities: | ||||
| Net Income (Loss), Including Portion Attributable to Noncontrolling InterestUSD | -37,697,000Source | -65,321,000Source | -66,712,000Source | — |
| Adjustments to reconcile net income to net cash provided by operating activities: | ||||
| Depreciation and amortization | — | — | — | — |
| Share-based Payment Arrangement, Noncash ExpenseUSD | 5,671,000Source | 4,644,000Source | 2,295,000Source | 1,979,000Source |
| Changes in operating assets and liabilities: | ||||
| Increase (Decrease) in InventoriesUSD | 249,000Source | 365,000Source | 133,000Source | -117,000Source |
| Deferred Income Tax Expense (Benefit)USD | -2,505,000Source | -6,771,000Source | 18,532,000Source | -147,000Source |
| Net Cash Provided by (Used in) Operating ActivitiesUSD | 61,022,000Source | 28,577,000Source | -9,579,000Source | 287,000Source |
| Cash flows from investing activities: | ||||
| Net Cash Provided by (Used in) Investing ActivitiesUSD | -36,217,000Source | -38,304,000Source | -14,378,000Source | -8,977,000Source |
| Payments to Acquire Property, Plant, and EquipmentUSD | 40,655,000Source | 43,047,000Source | 16,415,000Source | 14,229,000Source |
| Cash flows from financing activities: | ||||
| Payment, Tax Withholding, Share-based Payment ArrangementUSD | 668,000Source | 10,000Source | 14,000Source | 44,000Source |
| Net Cash Provided by (Used in) Financing ActivitiesUSD | -24,566,000Source | 10,913,000Source | 15,818,000Source | 15,763,000Source |
| Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents, Period Increase (Decrease), Including Exchange Rate EffectUSD | 239,000Source | 1,186,000Source | -8,139,000Source | 7,073,000Source |
| Cash, Cash Equivalents, Restricted Cash and Restricted Cash EquivalentsUSD | 5,565,000Source | 5,326,000Source | 4,140,000Source | 12,279,000Source |
| Supplemental disclosure of cash flow information: | ||||
| Interest Paid, Excluding Capitalized Interest, Operating ActivitiesUSD | 2,358,000Source | — | — | — |
| Income Taxes Paid, NetUSD | 804,000Source | — | — | — |
| Additional Financial Items | ||||
| Share-based Payment Arrangement, ExpenseUSD | 5,671,000Source | 4,644,000Source | 2,295,000Source | 1,979,000Source |
| Amortization of Debt Issuance CostsUSD | 111,000Source | 346,000Source | 1,115,000Source | 988,000Source |
| DepreciationUSD | 43,500,000Source | 40,400,000Source | 38,900,000Source | 43,900,000Source |
| Depreciation, Amortization and Accretion, NetUSD | 43,543,000Source | 40,443,000Source | 38,915,000Source | 43,919,000Source |
| Gain (Loss) on Disposition of AssetsUSD | -38,000Source | 196,000Source | 245,000Source | — |
| Gain (Loss) on Extinguishment of DebtUSD | — | -46,347,000Source | 10,128,000Source | — |
| Income Tax Expense (Benefit)USD | -1,975,000Source | -6,196,000Source | 18,532,000Source | -147,000Source |
| Inventory Write-downUSD | 0Source | 0Source | 0Source | 0Source |
| Net Income (Loss) Attributable to ParentUSD | -37,697,000Source | -65,321,000Source | -66,712,000Source | -96,638,000Source |
| Operating Lease, ExpenseUSD | — | 747,000Source | 928,000Source | 616,000Source |
| Other Nonoperating Income (Expense)USD | -585,000Source | — | -150,000Source | 0Source |
| Proceeds from Issuance of Common StockUSD | — | — | — | 10,978,000Source |
income statement · annual statements
| Line item | FY 2023 | FY 2022 | FY 2021 | FY 2020 |
|---|---|---|---|---|
| Total RevenueUSD | 210,106,000Source | 186,710,000Source | 87,955,000Source | 83,418,000Source |
| Selling, General and Administrative ExpenseUSD | 24,499,000Source | 24,809,000Source | 15,699,000Source | 13,484,000Source |
| Operating Income (Loss)USD | -3,717,000Source | -2,095,000Source | -43,115,000Source | -82,158,000Source |
| Other Nonoperating Income (Expense)USD | -585,000Source | — | -150,000Source | 0Source |
| Income (Loss) from Continuing Operations before Income Taxes, Noncontrolling InterestUSD | -39,672,000Source | -71,517,000Source | -48,180,000Source | -96,785,000Source |
| Income Tax Expense (Benefit)USD | -1,975,000Source | -6,196,000Source | 18,532,000Source | -147,000Source |
| Net Income (Loss) Attributable to ParentUSD | -37,697,000Source | -65,321,000Source | -66,712,000Source | -96,638,000Source |
| Earnings Per Share, BasicUSD per share | -2.69Source | -5.01Source | -8.89Source | — |
| Earnings Per Share, DilutedUSD per share | -2.69Source | -5.01Source | -8.89Source | — |
| Weighted Average Number of Shares Outstanding, Basicshares | 14,012,000Source | 13,026,000Source | 7,507,000Source | 4,907,000Source |
| Weighted Average Number of Shares Outstanding, Dilutedshares | 14,012,000Source | 13,026,000Source | 7,507,000Source | 4,907,000Source |
| Additional Financial Items | ||||
| Business Combination, Acquisition Related CostsUSD | — | — | — | 1,076,000Source |
| Cost of Property Repairs and MaintenanceUSD | 28,500,000Source | 23,300,000Source | 13,400,000Source | 9,700,000Source |
| Costs and ExpensesUSD | 213,823,000Source | 188,805,000Source | 131,070,000Source | 165,576,000Source |
| Current Income Tax Expense (Benefit)USD | 530,000Source | 575,000Source | 0Source | 0Source |
| Depreciation, Depletion and Amortization, NonproductionUSD | 43,543,000Source | 40,443,000Source | 38,915,000Source | 43,919,000Source |
| Interest Income (Expense), NetUSD | — | — | — | -14,627,000Source |
| Interest Income (Expense), Nonoperating, NetUSD | -35,955,000Source | -29,575,000Source | -15,193,000Source | — |
| Operating Lease, ExpenseUSD | — | 747,000Source | 928,000Source | 616,000Source |