Koil Energy Q3 revenue up 27% to $5.2M; net income of $523k vs $143k loss YoY

Koil Energy Solutions, Inc.

2024-Q3 EPS reported $0.17 revenue$16,793,000

Revenue $5.2M (Q3 2024) vs $4.1M (Q3 2023), +27% YoY driven by fixed-price subsea equipment contracts.
Gross profit $2.1M (40% margin) vs $1.4M (33% margin), +50% YoY on higher revenue and improved project margins.
Net income $523k ($0.04 diluted EPS) compared to net loss $143k ($0.01 loss) in Q3 2023.
Adjusted EBITDA $675k vs $17k in Q3 2023, improving to 13% margin from near break-even.
Cash $3.1M, working capital $4.9M, shareholders' equity $7.9M ($0.65/share) at Sep 30, 2024.

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