---
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"
generated_at: "2026-06-12T00:34:28.526384+00:00"
event_type: "earnings"
sentiment: "negative"
materiality_score: 0.6
calibrated_materiality_score: 0.6
confidence: "high"
source: SEC EDGAR
---

# Q2 net loss $0.4M vs profit $0.2M YoY; revenue flat at $3.5M

## Summary
- 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.

## SEC filing metadata
- 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
- event_type: earnings
- sentiment: negative
- materiality_score: 0.6
- calibrated_materiality_score: 0.6
- confidence: high
- sec_items: 2.02, 9.01
- 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

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001683168-23-005418
- JSON: https://secwatch.observer/filing/0001683168-23-005418.json
- Plain text: https://secwatch.observer/filing/0001683168-23-005418.txt

## Key facts
- Earnings Releases
  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.
  - Period: the three months ended June 30, 2023
  - Revenue: $3.5 million
  - Net income: net loss of $0.4 million
  - EPS: $0.04 loss per diluted share
  - Result: reported results
  source text: 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_url: https://www.sec.gov/Archives/edgar/data/1110607/000168316823005418/0001683168-23-005418-index.htm

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