Source-grounded facts extracted from Koil Energy Solutions, Inc.'s SEC 8-K filings across all families, newest first. Each cites a verbatim SEC excerpt.
Koil Energy Solutions, Inc. entered into Loan Agreement with nFusion Capital Finance, LLC valued at $5.0 million (effective 2026-05-19).
“On May 19, 2026, Koil Energy Solutions, Inc., a Nevada corporation, and its subsidiary Koil Energy Solutions, Inc., a Delaware corporation (together, the “Borrower”), entered into a Loan and Security Agreement (the “Loan Agreement”) with nFusion Capital Finance, LLC, including its successors and assigns, as lender (the “Lender”).”
Koil Energy Solutions, Inc. reported the quarter ended March 31, 2025 results: revenue $8.2 million.
“today announced its first quarter 2026 results. "I’m extremely proud of the KOIL team delivering another record revenue quarter. In the first quarter, we achieved revenue of $8.2 million, representing a 56% year-over-year increase," said Erik Wiik, President and Chief Executive Officer of KOIL Energy. " This was driven by a winning sales team and an outstanding”
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.”
Erik Wiik was appointed as Chief Executive Officer at Koil Energy Solutions, Inc..
“On March 6, 2024, the Board appointed Erik Wiik as the Company’s Chief Executive Officer, effective April 1, 2024.”
Charles K. Njuguna resigned as President, Chief Executive Officer, Chief Financial Officer and as a member of the board of directors at Koil Energy Solutions, Inc..
“On March 4, 2024, Charles K. Njuguna resigned as President, Chief Executive Officer, Chief Financial Officer and as a member of the board of directors (the “Board”) of the Company, effective as of March 31, 2024.”
Koil Energy Solutions, Inc. reported financial results for the three and nine months ended September 30, 2023.
“On November 9, 2023, Koil Energy Solutions, Inc. issued a press release announcing its financial results for the three and nine months ended September 30, 2023.”
Koil Energy Solutions, Inc. reported the three months ended June 30, 2023 results: revenue $3.5 million, net income net loss of $0.4 million, EPS $0.04 loss per diluted share.
“Koil Energy’s revenues for the three months ended June 30, 2023 (“Q2 2023”) of $3.5 million were consistent when compared to revenues of $3.5 million for the three months ended June 30, 2022 (“Q2 2022”). Gross profit for Q2 2023 was $1.1 million, or 33 percent of revenues, compared to Q2 2022 gross profit of $1.5 million, or 42 percent of revenues. Q2 2023 results reflect a higher volume of product-oriented, fixed priced projects and lower margin passthrough service costs. Operating expenses were $1.6 million, or 45 percent of revenues, in Q2 2023 compared to $1.5 million, or 42 percent of revenues, in Q2 2022. The $0.1 million, or 3 percent, increase in operating expenses was mainly due to higher research and development costs and finance lease payments offset by lower professional fees and facility-related costs. Due to the factors discussed above, Koil Energy reported a Q2 2023 net loss of $0.4 million, or a $0.04 loss per diluted share, compared to a Q2 2022 net profit of $0.2 mill”
Koil Energy Solutions, Inc. entered an off-balance-sheet arrangement for debt with Zions Bancorporation, N.A., d/b/a Amegy Bank Business Credit at Wall Street Journal Prime Rate (“Prime Rate”) plus 2.00%. The Prime Rate has a f.
“On May 24, 2023, Koil Energy Solutions, Inc. (“Koil Energy”) entered into a Purchase and Sale Agreement/Security Agreement (“Factoring Agreement”) with Zions Bancorporation, N.A., d/b/a Amegy Bank Business Credit (“Amegy”), which provides for Koil Energy from time to time to sell its accounts receivable and other rights to Amegy. Amegy has the right to approve or reject future accounts receivable or other items of any kind proposed for sale under this Factoring Agreement in its sole discretion, and no course of conduct shall establish any commitment to purchase future accounts receivable or other items of any kind. The purchase price for the receivables shall be the gross amount of the invoice minus the discount. The “discount” means 15% of the gross amount of an invoice that is generated by the rendering of services or selling of goods on a time and materials basis, and 25% of the gross amount of an invoice that is generated by the rendering of services or selling of goods on a milest”
Koil Energy Solutions, Inc. entered into Purchase and Sale Agreement/Security Agreement with Zions Bancorporation, N.A., d/b/a Amegy Bank Business Credit valued at Purchase price is gross invoice minus discount; discount is 15% for time-and-materials or 25% for mi (effective 2023-05-24).
“On May 24, 2023, Koil Energy Solutions, Inc. (“Koil Energy”) entered into a Purchase and Sale Agreement/Security Agreement (“Factoring Agreement”) with Zions Bancorporation, N.A., d/b/a Amegy Bank Business Credit (“Amegy”), which provides for Koil Energy from time to time to sell its accounts receivable and other rights to Amegy.”
Koil Energy Solutions, Inc. reported the quarter ended March 31, 2023 results: revenue $3.7 million, net income $97 thousand, EPS $0.01 loss per diluted share.
“energy segments as the opportunities continue to build.” Operating Results Koil Energy’s revenues for the three months ended March 31, 2023 (“Q1 2023”) increased 3 percent to $3.7 million compared to $3.6 million for the three months ended March 31, 2022 (“Q1 2022”), primarily due to heightened offshore project activity led by customer demand for our support”
Koil Energy Solutions, Inc. reported three months ended December 31, 2022 results: revenue $3.6 million, net income $1.3 million, EPS $0.11 loss per diluted share.
“Koil Energy’s revenues for the three months ended December 31, 2022 (“Q4 2022”) decreased 31 percent to $3.6 million compared to $5.2 million for the three months ended December 31, 2021 (“Q4 2021”).”
Koil Energy Solutions, Inc. reported year ended December 31, 2022 results: revenue $13.0 million, net income $2.9 million, EPS $0.24 loss per diluted share.
“decreased 31 percent to $3.6 million compared to $5.2 million for the three months ended December 31, 2021 (“Q4 2021”). Our full-year 2022 revenues decreased 25 percent to $13.0 million, compared with $17.2 million for full-year 2021, primarily due to an overall decline in project activity characterized by a shift from product-oriented, fixed price contracts to”
Koil Energy Solutions, Inc. reported the three months ended September 30, 2022 results: revenue $2.3 million, net income $1.6 million, EPS $0.13 loss per diluted share.
“the momentum needed to achieve this desired growth.” 1 Operating Results Deep Down’s revenues for the three months ended September 30, 2022 (“Q3 2022”) decreased 36 percent to $2.3 million compared to $3.6 million for the three months ended September 30, 2021 (“Q3 2021”) primarily due to an overall decline in project activity characterized by a shift from”
Facts are extracted by an LLM and gated to those whose source quote is present verbatim in the filing text. Coverage is best-effort while backfill and monitoring mature; this is not yet a full-market index. See methodology.