---
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"
generated_at: "2026-06-02T21:42:33.973024+00:00"
event_type: "earnings"
sentiment: "positive"
materiality_score: 0.75
calibrated_materiality_score: 0.75
confidence: "high"
source: SEC EDGAR
---

# Koil Energy Q1 revenue up 56% to $5.8M; net income of $0.6M vs prior-year loss

## Summary
- 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.

## SEC filing metadata
- 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
- event_type: earnings
- sentiment: positive
- materiality_score: 0.75
- calibrated_materiality_score: 0.75
- confidence: high
- sec_items: 2.02, 9.01
- 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

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001683168-24-003016
- JSON: https://secwatch.observer/filing/0001683168-24-003016.json
- Plain text: https://secwatch.observer/filing/0001683168-24-003016.txt

## Key facts
- Earnings Releases
  Koil Energy Solutions, Inc. reported Q1 2024 results: revenue $5.8 million, net income $0.6 million, EPS $0.05.
  - Period: Q1 2024
  - Revenue: $5.8 million
  - Net income: $0.6 million
  - EPS: $0.05
  - Result: reported results
  source text: 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_url: https://www.sec.gov/Archives/edgar/data/1110607/000168316824003016/0001683168-24-003016-index.htm

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