secwatch.observer — SEC 8-K summary
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Issuer:     Koil Energy Solutions, Inc. (KLNG)
CIK:        0001110607
Form:       8-K
Filed at:   2024-03-27T23:59:59+00:00
Accession:  0001683168-24-001767
Event type: earnings
Sentiment:  negative
Materiality: 0.60
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1110607/000168316824001767/0001683168-24-001767-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1110607/000168316824001767/koil_8k.htm
  HTML page:      https://secwatch.observer/filing/0001683168-24-001767

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