Koil Energy Solutions Stock Price, News & Analysis

KOIL Energy Solutions (OTCQB: KLNG) reported disappointing Q1 2025 results with revenue of $5.3 million, representing a 9% decrease from Q1 2024. The company posted an Adjusted EBITDA of $339,000 (6% margin), down $394,000 from the previous year, and broke even on net income. Gross margin stood at 31%, impacted by increased headcount and lower labor utilization. The company's financial position shows $2.2 million in cash and $5.1 million in working capital. Despite the challenging quarter, management highlighted positive momentum in order intake and bidding activity, with two-thirds of recent service contract growth tied to previously built equipment. The company plans to focus on improving financial execution, workforce utilization, and disciplined working capital management.

Koil Energy Solutions (OTCQB: KLNG), a deepwater energy production and distribution equipment services provider, has announced a delay in filing its Q1 2025 Form 10-Q. The company will file the report on May 20, 2025, utilizing the SEC's five-day extension period. The delay is attributed to pending accounting procedures following the late filing of its 2024 Annual Report.

The company will host an investor conference call to discuss Q1 2025 results on May 20, 2025, at 10:00 am Eastern Time. The call will be accessible via webcast and dial-in options, with a replay available for 7 days until May 27.

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KOIL Energy Solutions (OTCQB: KLNG) has announced the appointment of Mads Andersen as an independent, non-executive director to its Board of Directors, effective April 22, 2025. Andersen brings significant industry expertise as the current CEO of Norway-based Aibel ASA, a company with 5,000 employees and annual revenue of $1.5 billion.

Andersen's extensive background includes over 30 years in the international oil & gas and energy services industry, having served as Divisional President at OneSubsea (SLB) and Executive Vice President at Aker Solutions. He holds a master's degree in mechanical engineering from the University of Glasgow.

According to Board Chairman Mark Carden, Andersen's appointment aligns with KOIL Energy's growth strategy and international ambitions, particularly valued for his experience in international business development, growth strategy, and M&A.

KOIL Energy Solutions (OTCQB: KLNG) has appointed Kurt Keller as Chief Financial Officer, effective April 22, 2025. Keller brings two decades of financial leadership experience, having successfully scaled middle-market companies from $20 million to $100 million in revenue.

Keller's previous roles include executive positions at PurgeRite and SunGrid Holdings, CFO at Mantis Innovation Group (2018-2022), and CFO at Navasota Energy Services (2007-2017). He also provided advisory services at Deloitte (1999-2006). Keller holds a BA in Economics from Baylor University, an MBA from Vanderbilt University, and both CFA and CMA certifications.

CEO Erik Wiik emphasized Keller's expertise in scaling businesses through organic growth and M&A, highlighting the importance of financial discipline in meeting commitments to stakeholders.

KOIL Energy Solutions (OTCQB: KLNG), a provider of controls infrastructure for subsea oil and gas fields, has announced its participation in the Planet MicroCap Showcase: VEGAS 2025 investor conference. The company's presentation is scheduled for Wednesday, April 23, 2025, at 2:30 PM PST at the Paris Hotel & Casino in Las Vegas.

CEO Erik Wiik will lead the presentation and conduct a Q&A session. The event will be accessible via webcast, and investors can schedule one-on-one meetings with company representatives at the conference venue.

KOIL Energy Solutions (OTCQB: KLNG) reported strong financial results for Q4 and full year 2024. The company achieved Q4 revenue of $6 million, up 48% year-over-year, with Modified EBITDA of $1 million. For the full year 2024, revenue reached $23 million, also marking a 48% increase from 2023.

The company's turnaround was evident in its financial metrics, with full-year gross margin improving to 38% from 32% in 2023. Net income reached $2.6 million in 2024, compared to a loss of $1.6 million in 2023, resulting in diluted earnings per share of $0.21. Working capital stood at $5.7 million, including $3.4 million in cash.

Key 2024 achievements included winning contracts for subsea distribution equipment, advanced maintenance services, Bend Stiffener Latchers, and a subsea safety control system. The company expanded internationally with a new facility in Brazil and formed a strategic alliance with Norway-based SubseaDesign AS.

Koil Energy Solutions (OTCQB: KLNG), a deepwater energy production and distribution equipment and services specialist, has scheduled its fourth quarter and full year 2024 earnings release for Tuesday, April 15, 2025, before market opening.

The company will host an investor conference call to discuss Q4 2024 results on the same day at 10:00 am Eastern Time. Investors can participate through a webcast or dial-in options, with toll-free access at 1-833-630-1956 and international dial-in at 1-412-317-1837. The earnings release and conference call replay will be available on the company's website under the Investors section.

Koil Energy Solutions (OTCQB: KLNG) has announced a delay in filing its Annual Report on Form 10-K for fiscal year 2024, extending beyond the original March 31, 2025 deadline. The company will utilize a 15-day extension granted by the SEC due to the discovery of a material weakness in internal control over financial reporting.

The delay stems from the need to complete additional audit procedures following the identification of a $140,000 accounting adjustment related to expired stock options that were incorrectly reversed under Accounting Standards Codification 718. Despite this material weakness, the company states this adjustment is not expected to materially impact its financial position or operations.

Notably, KLNG anticipates reporting profitable growth in revenues for both Q4 and full-year 2024 compared to previous periods. The company plans to announce a new filing date and earnings call timing soon.

Koil Energy Solutions (OTCQB: KLNG), a deepwater energy production and distribution equipment and services specialist, has scheduled its fourth quarter and full year 2024 earnings release for Monday, March 31, 2025, before market opening.

The company will host an investor conference call to discuss the results on the same day at 10:00 am Eastern Time. Investors can participate through a webcast or by using toll-free (1-833-630-1956) and international (1-412-317-1837) dial-in numbers.