secwatch.observer — SEC 8-K summary
======================================

Issuer:     Koil Energy Solutions, Inc. (KLNG)
CIK:        0001110607
Form:       8-K
Filed at:   2022-03-29T23:59:59+00:00
Accession:  0001683168-22-002013
Event type: earnings
Sentiment:  positive
Materiality: 0.60
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

- 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.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1110607/000168316822002013/0001683168-22-002013-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1110607/000168316822002013/deepdown_8k.htm
  HTML page:      https://secwatch.observer/filing/0001683168-22-002013

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer