---
schema_version: "secwatch.filing_event.v1"
accession: "0001683168-23-003204"
form_type: "8-K"
ticker: "KLNG"
cik: "0001110607"
company_name: "Koil Energy Solutions, Inc."
filed_at: "2023-05-11T23:59:59+00:00"
generated_at: "2026-06-15T03:32:18.255318+00:00"
event_type: "earnings"
sentiment: "positive"
materiality_score: 0.55
calibrated_materiality_score: 0.55
confidence: "high"
source: SEC EDGAR
---

# Koil Energy Q1 revenue rises 3% to $3.7M; net loss narrows to $97k

## Summary
- Revenue $3.7M (+3% YoY) on higher offshore support services and rental demand.
- Gross margin improved to 44% from 39% YoY; net loss $97k ($0.01/diluted share) vs. $264k loss a year ago.
- Modified EBITDA turned positive at $90k from negative $57k in Q1 2022.
- Backlog increased ~10% YoY; cash $1.5M, working capital $3.9M, equity $7.0M ($0.59/share).
- No earnings call scheduled; CEO cites ramp in offshore investment and increased bidding activity.

## SEC filing metadata
- accession: 0001683168-23-003204
- form_type: 8-K
- ticker: KLNG
- cik: 0001110607
- company_name: Koil Energy Solutions, Inc.
- filed_at: 2023-05-11T23:59:59+00:00
- event_type: earnings
- sentiment: positive
- 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/1110607/000168316823003204/0001683168-23-003204-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1110607/000168316823003204/koil_8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001683168-23-003204
- JSON: https://secwatch.observer/filing/0001683168-23-003204.json
- Plain text: https://secwatch.observer/filing/0001683168-23-003204.txt

## Key facts
- Earnings Releases
  Koil Energy Solutions, Inc. reported the quarter ended March 31, 2023 results: revenue $3.7 million, net income $97 thousand, EPS $0.01 loss per diluted share.
  - Period: the quarter ended March 31, 2023
  - Revenue: $3.7 million
  - Net income: $97 thousand
  - EPS: $0.01 loss per diluted share
  - Result: reported results
  source text: energy segments as the opportunities continue to build.” Operating Results Koil Energy’s revenues for the three months ended March 31, 2023 (“Q1 2023”) increased 3 percent to $3.7 million compared to $3.6 million for the three months ended March 31, 2022 (“Q1 2022”), primarily due to heightened offshore project activity led by customer demand for our support
  evidence_url: https://www.sec.gov/Archives/edgar/data/1110607/000168316823003204/0001683168-23-003204-index.htm

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