{"schema_version":"secwatch.filing_event.v1","accession":"0001683168-23-005418","form_type":"8-K","ticker":"KLNG","cik":"0001110607","company_name":"Koil Energy Solutions, Inc.","filed_at":"2023-08-08T23:59:59+00:00","discovered_at":"2026-05-14T18:03:33.163663+00:00","generated_at":"2026-06-12T00:34:28.526384+00:00","sec_items":["2.02","9.01"],"event_type":"earnings","sentiment":"negative","materiality_score":0.6,"calibrated_materiality_score":0.6,"confidence":"high","headline":"Q2 net loss $0.4M vs profit $0.2M YoY; revenue flat at $3.5M","bullets":["Revenue flat at $3.5M; gross margin fell to 33% from 42% due to lower-margin project mix.","Net loss of $0.4M ($0.04 loss per share) vs net income of $0.2M ($0.01/share) in Q2 2022.","Modified EBITDA was negative $0.3M vs positive $0.2M YoY.","Project backlog increased ~50% YoY; CEO notes strong offshore activity and higher bidding.","Cash $2.3M, working capital $3.5M, $4.5M factoring facility remains unused."],"urls":{"canonical":"https://secwatch.observer/filing/0001683168-23-005418","json":"https://secwatch.observer/filing/0001683168-23-005418.json","markdown":"https://secwatch.observer/filing/0001683168-23-005418.md","text":"https://secwatch.observer/filing/0001683168-23-005418.txt","edgar_index":"https://www.sec.gov/Archives/edgar/data/1110607/000168316823005418/0001683168-23-005418-index.htm","edgar_primary_document":"https://www.sec.gov/Archives/edgar/data/1110607/000168316823005418/koil_8k.htm"},"model":{"generated_by":"deepseek-v4-flash:cloud@v2","generated_at":"2026-06-12T00:34:28.526384+00:00"},"review":{"review_status":"machine_generated","human_reviewed":false,"corrected":false,"correction_note":null,"correction_timestamp":null,"superseded_by":null,"related_filings":[]},"source_grounded_claims":[{"claim_id":"67a10ce8466e2bfaaf2d1e96d41df5c27af106d3","claim":"Koil Energy Solutions, Inc. reported the three months ended June 30, 2023 results: revenue $3.5 million, net income net loss of $0.4 million, EPS $0.04 loss per diluted share.","evidence_excerpt":"Koil Energy’s revenues for the three months ended June 30, 2023 (“Q2 2023”) of $3.5 million were consistent when compared to revenues of $3.5 million for the three months ended June 30, 2022 (“Q2 2022”). Gross profit for Q2 2023 was $1.1 million, or 33 percent of revenues, compared to Q2 2022 gross profit of $1.5 million, or 42 percent of revenues. Q2 2023 results reflect a higher volume of product-oriented, fixed priced projects and lower margin passthrough service costs. Operating expenses were $1.6 million, or 45 percent of revenues, in Q2 2023 compared to $1.5 million, or 42 percent of revenues, in Q2 2022. The $0.1 million, or 3 percent, increase in operating expenses was mainly due to higher research and development costs and finance lease payments offset by lower professional fees and facility-related costs. Due to the factors discussed above, Koil Energy reported a Q2 2023 net loss of $0.4 million, or a $0.04 loss per diluted share, compared to a Q2 2022 net profit of $0.2 mill","evidence_source":"SEC 8-K Item 2.02","evidence_url":"https://www.sec.gov/Archives/edgar/data/1110607/000168316823005418/0001683168-23-005418-index.htm","confidence":0.9,"family_label":"Earnings Releases","details":[{"label":"Period","value":"the three months ended June 30, 2023"},{"label":"Revenue","value":"$3.5 million"},{"label":"Net income","value":"net loss of $0.4 million"},{"label":"EPS","value":"$0.04 loss per diluted share"},{"label":"Result","value":"reported results"}],"fact_type":"earnings_release"}],"license":"Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer"}