secwatch.observer — SEC 8-K summary
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Issuer:     Koil Energy Solutions, Inc. (KLNG)
CIK:        0001110607
Form:       8-K
Filed at:   2023-08-08T23:59:59+00:00
Accession:  0001683168-23-005418
Event type: earnings
Sentiment:  negative
Materiality: 0.60
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1110607/000168316823005418/0001683168-23-005418-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1110607/000168316823005418/koil_8k.htm
  HTML page:      https://secwatch.observer/filing/0001683168-23-005418

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer