secwatch.observer — SEC 8-K summary
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Issuer:     Koil Energy Solutions, Inc. (KLNG)
CIK:        0001110607
Form:       8-K
Filed at:   2024-11-04T23:59:59+00:00
Accession:  0001683168-24-007576
Event type: earnings
Sentiment:  positive
Materiality: 0.75
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1110607/000168316824007576/0001683168-24-007576-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1110607/000168316824007576/koil_8k.htm
  HTML page:      https://secwatch.observer/filing/0001683168-24-007576

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