secwatch.observer — SEC 8-K summary
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Issuer:     Koil Energy Solutions, Inc. (KLNG)
CIK:        0001110607
Form:       8-K
Filed at:   2024-05-06T23:59:59+00:00
Accession:  0001683168-24-003016
Event type: earnings
Sentiment:  positive
Materiality: 0.75
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1110607/000168316824003016/0001683168-24-003016-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1110607/000168316824003016/koil_8k.htm
  HTML page:      https://secwatch.observer/filing/0001683168-24-003016

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