---
schema_version: "secwatch.filing_event.v1"
accession: "0001683168-22-007722"
form_type: "8-K"
ticker: "KLNG"
cik: "0001110607"
company_name: "Koil Energy Solutions, Inc."
filed_at: "2022-11-14T23:59:59+00:00"
generated_at: "2026-06-21T19:23:52.992607+00:00"
event_type: "earnings"
sentiment: "negative"
materiality_score: 0.7
calibrated_materiality_score: 0.7
confidence: "high"
source: SEC EDGAR
---

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

## Summary
- 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.

## SEC filing metadata
- accession: 0001683168-22-007722
- form_type: 8-K
- ticker: KLNG
- cik: 0001110607
- company_name: Koil Energy Solutions, Inc.
- filed_at: 2022-11-14T23:59:59+00:00
- event_type: earnings
- sentiment: negative
- materiality_score: 0.7
- calibrated_materiality_score: 0.7
- confidence: high
- sec_items: 2.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1110607/000168316822007722/0001683168-22-007722-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1110607/000168316822007722/deepdown_8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001683168-22-007722
- JSON: https://secwatch.observer/filing/0001683168-22-007722.json
- Plain text: https://secwatch.observer/filing/0001683168-22-007722.txt

## Key facts
- Earnings Releases
  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
  source text: 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
  evidence_url: https://www.sec.gov/Archives/edgar/data/1110607/000168316822007722/0001683168-22-007722-index.htm

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