{"schema_version":"secwatch.filing_event.v1","accession":"0001683168-24-003016","form_type":"8-K","ticker":"KLNG","cik":"0001110607","company_name":"Koil Energy Solutions, Inc.","filed_at":"2024-05-06T23:59:59+00:00","discovered_at":"2026-05-14T18:03:17.324590+00:00","generated_at":"2026-06-02T21:42:33.973024+00:00","sec_items":["2.02","9.01"],"event_type":"earnings","sentiment":"positive","materiality_score":0.75,"calibrated_materiality_score":0.75,"confidence":"high","headline":"Koil Energy Q1 revenue up 56% to $5.8M; net income of $0.6M vs prior-year loss","bullets":["Revenue $5.8M (+56% YoY); gross profit $2.0M (35% margin) vs $1.6M (44%) in Q1 2023.","Net income $0.6M ($0.05 diluted EPS) vs net loss of $0.1M ($0.01 loss per share) in Q1 2023.","Adjusted EBITDA $0.7M, up from $0.1M in Q1 2023, driven by product-oriented fixed-price contracts.","First delivery of 20,000 psi multi-quick-connect plate for deepwater Gulf of Mexico; major subsea safety controls contract won in April.","Working capital $3.3M; shareholders' equity $6.2M ($0.52 per share) at March 31, 2024."],"urls":{"canonical":"https://secwatch.observer/filing/0001683168-24-003016","json":"https://secwatch.observer/filing/0001683168-24-003016.json","markdown":"https://secwatch.observer/filing/0001683168-24-003016.md","text":"https://secwatch.observer/filing/0001683168-24-003016.txt","edgar_index":"https://www.sec.gov/Archives/edgar/data/1110607/000168316824003016/0001683168-24-003016-index.htm","edgar_primary_document":"https://www.sec.gov/Archives/edgar/data/1110607/000168316824003016/koil_8k.htm"},"model":{"generated_by":"deepseek-v4-flash:cloud@v2","generated_at":"2026-06-02T21:42:33.973024+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":"44bc81ce047238f5d924981535d032f20ff29629","claim":"Koil Energy Solutions, Inc. reported Q1 2024 results: revenue $5.8 million, net income $0.6 million, EPS $0.05.","evidence_excerpt":"KOIL’s revenues for the three months ended March 31, 2024 (“Q1 2024”) increased 56 percent to $5.8 million compared to $3.7 million for the three months ended March 31, 2023 (“Q1 2023”), primarily due to an increase in product-oriented, fixed price contracts. Gross profit for Q1 2024 was $2.0 million, or 35 percent of revenues, compared to Q1 2023 gross profit of $1.6 million, or 44 percent of revenues. The comparative increase in Q1 2024 gross profit was primarily driven by increased revenues, while the decline in Q1 2024 gross profit as a percentage of revenue reflects higher materials costs associated with the increase in fixed price contracts. 1 Selling, general and administrative expenses (“SG&A”) were $1.5 million, or 25 percent of revenues, in Q1 2024 compared to $1.7 million, or 47 percent of revenues, in Q1 2023. SG&A in Q1 2024 reflected lower administrative payroll expense, advertising expense, research and development expense, and rental expense related to the Company’s sho","evidence_source":"SEC 8-K Item 2.02","evidence_url":"https://www.sec.gov/Archives/edgar/data/1110607/000168316824003016/0001683168-24-003016-index.htm","confidence":0.99,"family_label":"Earnings Releases","details":[{"label":"Period","value":"Q1 2024"},{"label":"Revenue","value":"$5.8 million"},{"label":"Net income","value":"$0.6 million"},{"label":"EPS","value":"$0.05"},{"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"}