---
schema_version: "secwatch.filing_event.v1"
accession: "0001683168-23-001977"
form_type: "8-K"
ticker: "KLNG"
cik: "0001110607"
company_name: "Koil Energy Solutions, Inc."
filed_at: "2023-03-30T23:59:59+00:00"
generated_at: "2026-06-17T08:54:03.079819+00:00"
event_type: "earnings"
sentiment: "negative"
materiality_score: 0.7
calibrated_materiality_score: 0.7
confidence: "high"
source: SEC EDGAR
---

# Koil Energy reports FY2022 net loss of $2.9M; revenue down 25% to $13.0M

## Summary
- Full-year 2022 revenue $13.0M, down 25% from $17.2M in 2021; Q4 revenue $3.6M, down 31% YoY.
- FY2022 net loss $2.9M ($0.24 diluted loss per share) vs FY2021 net income $2.3M ($0.19 diluted EPS).
- FY2022 modified EBITDA negative $1.0M vs positive $0.7M in 2021; Q4 modified EBITDA negative $0.1M.
- Operating expenses included $0.8M lease impairment, $0.5M relocation costs, and $0.2M rebranding costs.
- Repurchased 500,663 shares for $0.15M cash and $0.08M in assets; working capital $3.9M, cash $2.4M at Dec 31, 2022.

## SEC filing metadata
- accession: 0001683168-23-001977
- form_type: 8-K
- ticker: KLNG
- cik: 0001110607
- company_name: Koil Energy Solutions, Inc.
- filed_at: 2023-03-30T23:59:59+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/1110607/000168316823001977/0001683168-23-001977-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1110607/000168316823001977/koil_8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001683168-23-001977
- JSON: https://secwatch.observer/filing/0001683168-23-001977.json
- Plain text: https://secwatch.observer/filing/0001683168-23-001977.txt

## Key facts
- Earnings Releases
  Koil Energy Solutions, Inc. reported three months ended December 31, 2022 results: revenue $3.6 million, net income $1.3 million, EPS $0.11 loss per diluted share.
  - Period: three months ended December 31, 2022
  - Revenue: $3.6 million
  - Net income: $1.3 million
  - EPS: $0.11 loss per diluted share
  - Result: reported results
  source text: Koil Energy’s revenues for the three months ended December 31, 2022 (“Q4 2022”) decreased 31 percent to $3.6 million compared to $5.2 million for the three months ended December 31, 2021 (“Q4 2021”).
  evidence_url: https://www.sec.gov/Archives/edgar/data/1110607/000168316823001977/0001683168-23-001977-index.htm
- Earnings Releases
  Koil Energy Solutions, Inc. reported year ended December 31, 2022 results: revenue $13.0 million, net income $2.9 million, EPS $0.24 loss per diluted share.
  - Period: year ended December 31, 2022
  - Revenue: $13.0 million
  - Net income: $2.9 million
  - EPS: $0.24 loss per diluted share
  - Result: reported results
  source text: decreased 31 percent to $3.6 million compared to $5.2 million for the three months ended December 31, 2021 (“Q4 2021”). Our full-year 2022 revenues decreased 25 percent to $13.0 million, compared with $17.2 million for full-year 2021, primarily due to an overall decline in project activity characterized by a shift from product-oriented, fixed price contracts to
  evidence_url: https://www.sec.gov/Archives/edgar/data/1110607/000168316823001977/0001683168-23-001977-index.htm

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