---
schema_version: "secwatch.filing_event.v1"
accession: "0001683168-24-001767"
form_type: "8-K"
ticker: "KLNG"
cik: "0001110607"
company_name: "Koil Energy Solutions, Inc."
filed_at: "2024-03-27T23:59:59+00:00"
generated_at: "2026-06-04T06:57:38.081140+00:00"
event_type: "earnings"
sentiment: "negative"
materiality_score: 0.6
calibrated_materiality_score: 0.6
confidence: "high"
source: SEC EDGAR
---

# Koil Energy reports 2023 revenue up 18% to $15.3M but net loss of $1.6M; Q4 margins compress

## Summary
- Full-year 2023 revenue $15.3M (+18% YoY); net loss $1.6M ($0.13 loss per diluted share).
- Q4 2023 revenue $4.0M (+11% YoY); Q4 gross margin 17% vs 42% in prior year.
- Full-year 2023 gross margin 32% vs 36% in 2022; higher materials costs and low-margin projects cited.
- Modified EBITDA negative $0.9M for 2023 vs negative $1.0M in 2022.
- Working capital $2.6M at Dec 31, 2023; cash $2.0M; no share repurchases in 2023.

## SEC filing metadata
- accession: 0001683168-24-001767
- form_type: 8-K
- ticker: KLNG
- cik: 0001110607
- company_name: Koil Energy Solutions, Inc.
- filed_at: 2024-03-27T23:59:59+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/1110607/000168316824001767/0001683168-24-001767-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1110607/000168316824001767/koil_8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001683168-24-001767
- JSON: https://secwatch.observer/filing/0001683168-24-001767.json
- Plain text: https://secwatch.observer/filing/0001683168-24-001767.txt

## Key facts
- Earnings Releases
  Koil Energy Solutions, Inc. reported Q4 2023 (three months ended December 31, 2023) and full-year 2023 results: revenue $4.0 million for Q4 2023; $15.3 million for full-year 2023, net income net loss of $0.9 million for Q4 2023; net loss of $1.6 million for full-year 2023, EPS $0.07 loss per diluted share for Q4 2023; $0.13 loss per diluted share for full-year 2023.
  - Period: Q4 2023 (three months ended December 31, 2023) and full-year 2023
  - Revenue: $4.0 million for Q4 2023; $15.3 million for full-year 2023
  - Net income: net loss of $0.9 million for Q4 2023; net loss of $1.6 million for full-year 2023
  - EPS: $0.07 loss per diluted share for Q4 2023; $0.13 loss per diluted share for full-year 2023
  - Result: reported results
  source text: Due to the factors discussed above, Koil Energy reported a Q4 2023 net loss of $0.9 million, or a $0.07 loss per diluted share, compared to a Q4 2022 net loss of $1.3 million, or an $0.11 loss per diluted share. Our full-year 2023 net loss was $1.6 million, or a $0.13 loss per diluted share, compared to our full-year 2022 net loss of $2.9 million, or a $0.24 loss per diluted share.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1110607/000168316824001767/0001683168-24-001767-index.htm

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