---
schema_version: "secwatch.filing_event.v1"
accession: "0001683168-21-003715"
form_type: "8-K"
ticker: "KLNG"
cik: "0001110607"
company_name: "Koil Energy Solutions, Inc."
filed_at: "2021-08-16T23:59:59+00:00"
generated_at: "2026-06-29T09:48:39.991759+00:00"
event_type: "earnings"
sentiment: "positive"
materiality_score: 0.65
calibrated_materiality_score: 0.65
confidence: "high"
source: SEC EDGAR
---

# Deep Down Q2 2021 revenue up 66% to $4.5M; net profit of $0.7M vs year-ago loss

## Summary
- Revenue $4.5M (+66% YoY); gross profit $1.4M (31% margin) vs $1.3M (46%) last year.
- Net income $0.7M ($0.06 diluted EPS) vs net loss $5.3M ($0.42 loss) in Q2 2020.
- Recorded $1.1M PPP loan forgiveness income; $0.5M reserve for doubtful accounts.
- Cash $4.1M; working capital $6.1M; shareholders' equity $8.8M at June 30, 2021.
- Negative modified EBITDA of $0.1M vs negative $0.2M a year ago.

## SEC filing metadata
- accession: 0001683168-21-003715
- form_type: 8-K
- ticker: KLNG
- cik: 0001110607
- company_name: Koil Energy Solutions, Inc.
- filed_at: 2021-08-16T23:59:59+00:00
- event_type: earnings
- sentiment: positive
- materiality_score: 0.65
- calibrated_materiality_score: 0.65
- confidence: high
- sec_items: 2.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1110607/000168316821003715/0001683168-21-003715-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1110607/000168316821003715/deepdown_i8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001683168-21-003715
- JSON: https://secwatch.observer/filing/0001683168-21-003715.json
- Plain text: https://secwatch.observer/filing/0001683168-21-003715.txt

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.