Koil Energy Solutions, Inc. — fact timeline

Koil Energy Solutions, Inc. reported the three months ending December 31, 2025 results: revenue $7.3 million dollars.

“KOIL Energy generated revenues of $7.3 million dollars.”

Koil Energy Solutions, Inc. reported the year ended December 31, 2025 results: revenue 24 million dollars.

“the prior year, driven by growth initiatives. Adjusted EBITDA was 10% of revenue, or a gain of $704,000. Full Year 2025 Results: For the full year 2025, we achieved revenue of 24 million dollars, marking a 6% year-over-year increase. Adjusted EBITDA was $1 million in 2025 compared to $3.5 million dollars in 2024. The reduction was mainly driven by investments”

Koil Energy Solutions, Inc. engaged Baker Tilly US, LLP as its auditor.

“the Audit Committee of the Company’s Board of Directors approved the appointment of Baker Tilly, as the successor to Moss Adams, as the Company’s independent registered public accounting firm.”

Moss Adams LLP resigned as auditor of Koil Energy Solutions, Inc..

“Moss Adams has resigned as the auditors of the Company and the Audit Committee of the Company’s Board of Directors approved the appointment of Baker Tilly, as the successor to Moss Adams, as the Company’s independent registered public accounting firm.”

Kurt Keller was appointed as Chief Financial Officer at Koil Energy Solutions, Inc..

“On April 21, 2025, the Company announced the appointment of Kurt Keller as the chief financial officer (CFO) of the Company.”

Mads Andersen was appointed as Director at Koil Energy Solutions, Inc..

“Effective as of April 21, 2025, Mads Andersen, age 59, was appointed to the Board of Directors of Koil Energy Solutions, Inc. (the “Company”) as an independent, non-executive director.”

Trevor Ashurst resigned as Vice President of Finance and Administration (principal financial officer) at Koil Energy Solutions, Inc..

“On January 10, 2025, Trevor Ashurst resigned as Vice President of Finance and Administration (principal financial officer) of Koil Energy Solutions, Inc. (the “Company”), effective as of February 1, 2025.”

Koil Energy Solutions, Inc. reported Q1 2024 results: revenue $5.8 million, net income $0.6 million, EPS $0.05.

“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”

Koil Energy Solutions, Inc. reported Q4 2023 (three months ended December 31, 2023) and full-year 2023 results: revenue $4.0 million for Q4 2023; $15.3 million for full-year 2023, net income net loss of $0.9 million for Q4 2023; net loss of $1.6 million for full-year 2023, EPS $0.07 loss per diluted share for Q4 2023; $0.13 loss per diluted share for full-year 2023.

“Due to the factors discussed above, Koil Energy reported a Q4 2023 net loss of $0.9 million, or a $0.07 loss per diluted share, compared to a Q4 2022 net loss of $1.3 million, or an $0.11 loss per diluted share. Our full-year 2023 net loss was $1.6 million, or a $0.13 loss per diluted share, compared to our full-year 2022 net loss of $2.9 million, or a $0.24 loss per diluted share.”