Deep Down reports Q3 net loss of $1.6M, revenue down 36% YoY to $2.3M

Koil Energy Solutions, Inc.

2022-Q3 EPS reported -$0.14 revenue$9,357,000

Revenue $2.3M (-36% YoY); gross profit $0.3M (12% margin vs 24%).
Net loss of $1.6M ($0.13/diluted share) vs net profit of $0.3M ($0.03/share) in Q3 2021.
Modified EBITDA negative $1.0M vs negative $0.4M in prior year.
Rebranding to Koil Energy Solutions underway; awaiting FINRA approval for new name and ticker.
Cash $3.5M, working capital $4.5M, shareholders' equity $8.4M.

item 2.02 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.9

Koil Energy Solutions, Inc. reported the three months ended September 30, 2022 results: revenue $2.3 million, net income $1.6 million, EPS $0.13 loss per diluted share.

Period: the three months ended September 30, 2022
Revenue: $2.3 million
Net income: $1.6 million
EPS: $0.13 loss per diluted share
Result: reported results

Exact text from the filing

the momentum needed to achieve this desired growth.” 1 Operating Results Deep Down’s revenues for the three months ended September 30, 2022 (“Q3 2022”) decreased 36 percent to $2.3 million compared to $3.6 million for the three months ended September 30, 2021 (“Q3 2021”) primarily due to an overall decline in project activity characterized by a shift from

View on SEC.gov

Browse all earnings releases →

Koil Energy Solutions, Inc. filing history →

Source: SEC EDGAR

accession 0001683168-22-007722

view filing index on sec.gov

view primary document

Machine-readable: JSON · Markdown · Plain text

This headline and bullets were generated automatically by deepseek-v4-flash:cloud@v2 from the public filing. Read the source on SEC.gov before relying on any specific claim. Not investment advice. See methodology for how this pipeline works.