---
schema_version: "secwatch.filing_event.v1"
accession: "0001683168-22-005426"
form_type: "8-K"
ticker: "KLNG"
cik: "0001110607"
company_name: "Koil Energy Solutions, Inc."
filed_at: "2022-08-08T23:59:59+00:00"
generated_at: "2026-06-24T02:35:26.034405+00:00"
event_type: "earnings"
sentiment: "neutral"
materiality_score: 0.55
calibrated_materiality_score: 0.55
confidence: "high"
source: SEC EDGAR
---

# Deep Down Q2 revenue down 23% to $3.5M; net income $0.2M, EPS $0.01

## Summary
- Revenue $3.5M, down 23% YoY from $4.5M; net income $0.2M ($0.01 diluted) vs $0.7M ($0.06) prior year.
- Gross profit margin improved to 42% from 31% due to lower materials costs.
- Modified EBITDA positive $0.2M compared to negative $0.1M in Q2 2021.
- Repurchased 147,059 shares at average $0.68 in June 2022.
- Rebranding to Koil Energy Solutions pending FINRA approval; expanding into military and hydrogen energy.

## SEC filing metadata
- accession: 0001683168-22-005426
- form_type: 8-K
- ticker: KLNG
- cik: 0001110607
- company_name: Koil Energy Solutions, Inc.
- filed_at: 2022-08-08T23:59:59+00:00
- event_type: earnings
- sentiment: neutral
- materiality_score: 0.55
- calibrated_materiality_score: 0.55
- confidence: high
- sec_items: 2.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1110607/000168316822005426/0001683168-22-005426-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1110607/000168316822005426/deepdown_8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001683168-22-005426
- JSON: https://secwatch.observer/filing/0001683168-22-005426.json
- Plain text: https://secwatch.observer/filing/0001683168-22-005426.txt

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