Innovex International Inc (Innovex) formerly Dril-Quip Inc, designs, manufactures, sells, and rents mission-critical engineered products to the global oil and natural gas industry. The company focuses on well-centric products and technologies, aiming to drive returns for investors through organic innovations and acquisitions. Innovex operates in the oil and gas sector, serving a broad customer base that includes international oil companies, national oil companies, exploration and production companies, and oilfield service companies.

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Innovex focuses on new technology development and ongoing product advancement initiatives as key components of its strategy. The company maintains an engineering team dedicated to research and development (R&D) and product enhancements. This team is based in Houston, Texas, with representatives across global offices, enabling the company to better understand customer challenges and prioritize market opportunities. Innovex is pursuing various initiatives related to new product development, including specialty, high-margin products that complement existing product families. The company is also in active conversations with international oil companies (IOCs) and national oil companies (NOCs) regarding newly developed products for global deepwater and offshore markets. As of December 31, 2025, Innovex had approximately 769 patents in the US and across the world. As of December 31, 2025, the company incurred a research and development expenditure of US$6.7 million which was 0.7% of the company's total revenue and grew 81.1% YoY.