secwatch.observer — SEC 8-K summary
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Issuer:     Koil Energy Solutions, Inc. (KLNG)
CIK:        0001110607
Form:       8-K
Filed at:   2023-03-30T23:59:59+00:00
Accession:  0001683168-23-001977
Event type: earnings
Sentiment:  negative
Materiality: 0.70
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1110607/000168316823001977/0001683168-23-001977-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1110607/000168316823001977/koil_8k.htm
  HTML page:      https://secwatch.observer/filing/0001683168-23-001977

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