---
schema_version: "secwatch.filing_event.v1"
accession: "0001683168-22-002013"
form_type: "8-K"
ticker: "KLNG"
cik: "0001110607"
company_name: "Koil Energy Solutions, Inc."
filed_at: "2022-03-29T23:59:59+00:00"
generated_at: "2026-06-26T14:18:09.324076+00:00"
event_type: "earnings"
sentiment: "positive"
materiality_score: 0.6
calibrated_materiality_score: 0.6
confidence: "high"
source: SEC EDGAR
---

# Deep Down 2021 revenues up 33% to $17.2M; net profit $2.3M vs loss $6.1M

## Summary
- Q4 2021 revenue $5.2M (+49% YoY); net profit $1.1M ($0.09 diluted EPS).
- Full-year gross margin 34% (down from 38%) due to labor cost inflation and low-margin pass-through services.
- Modified EBITDA improved to $0.7M in 2021 from negative $0.1M in 2020.
- Cash $3.7M, working capital $7.1M, shareholders' equity $10.3M ($0.83 per share).
- Includes $2.2M PPP loan forgiveness and $0.7M employee retention credits.

## SEC filing metadata
- accession: 0001683168-22-002013
- form_type: 8-K
- ticker: KLNG
- cik: 0001110607
- company_name: Koil Energy Solutions, Inc.
- filed_at: 2022-03-29T23:59:59+00:00
- event_type: earnings
- sentiment: positive
- materiality_score: 0.6
- calibrated_materiality_score: 0.6
- confidence: high
- sec_items: 2.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1110607/000168316822002013/0001683168-22-002013-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1110607/000168316822002013/deepdown_8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001683168-22-002013
- JSON: https://secwatch.observer/filing/0001683168-22-002013.json
- Plain text: https://secwatch.observer/filing/0001683168-22-002013.txt

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