# EDGAR Filing Document

**Accession Number:** 0001110607
**File Stem:** 0001683168-26-002573
**Filing Date:** 2026-4
**Character Count:** 13484
**Document Hash:** 03a8dd8dd3dac0925e3a231e1abcbec2
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001683168-26-002573.hdr.sgml**: 20260401

**ACCESSION NUMBER**: 0001683168-26-002573

**CONFORMED SUBMISSION TYPE**: 8-K

**PUBLIC DOCUMENT COUNT**: 12

**CONFORMED PERIOD OF REPORT**: 20260331

**ITEM INFORMATION**: Results of Operations and Financial Condition

**ITEM INFORMATION**: Financial Statements and Exhibits

**FILED AS OF DATE**: 20260401

**DATE AS OF CHANGE**: 20260401

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** Koil Energy Solutions, Inc.
- **CENTRAL INDEX KEY:** 0001110607
- **STANDARD INDUSTRIAL CLASSIFICATION:** OIL & GAS FILED MACHINERY & EQUIPMENT [3533]
- **ORGANIZATION NAME:** 01 Energy & Transportation
- **EIN:** 752263732
- **STATE OF INCORPORATION:** NV
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** 8-K
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 000-30351
- **FILM NUMBER:** 26827026

**BUSINESS ADDRESS:**
- **STREET 1:** 1310 RANKIN ROAD
- **CITY:** HOUSTON
- **STATE:** TX
- **ZIP:** 77073
- **BUSINESS PHONE:** (281) 517-5000

**MAIL ADDRESS:**
- **STREET 1:** 1310 RANKIN ROAD
- **CITY:** HOUSTON
- **STATE:** TX
- **ZIP:** 77073

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** Deep Down, Inc.
- **DATE OF NAME CHANGE:** 20061220

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** MediQuip Holdings, INC
- **DATE OF NAME CHANGE:** 20060501

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** TRUE HEALTH INC
- **DATE OF NAME CHANGE:** 20000329

?xml version='1.0' encoding='ASCII'? Current Report

**UNITED STATES** 

**SECURITIES AND EXCHANGE COMMISSION** 

**Washington, D.C. 20549**

**FORM 8-K** 

**CURRENT REPORT**

**Pursuant to Section 13 or 15 (d) of the** 

**Securities Exchange Act of 1934** 

**Date of Report (Date of earliest event reported)** 

**March 31, 2026**

**KOIL ENERGY SOLUTIONS, INC.**

**(Exact name of registrant as specified in its charter)** 

---

| | | |
|:---|:---|:---|
| **Nevada** | **000-30351** | **75-2263732** |
| (State or other jurisdiction<br> of incorporation) | (Commission File Number) | (I.R.S. Employer<br> Identification No.) |

---

**<u>1310 Rankin Road, Houston, TX 77073</u>**

(Address of principal executive offices) (Zip Code)

**<u>(281) 517-5000</u>**

Registrant's telephone number, including area code

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

☐ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

☐ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

☐ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

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| | |
|:---|:---|
| ☐ | Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) |
| <br>Securities registered pursuant to Section 12(b) of the Act: None<br>Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 or Rule 12b-2 of the Securities Exchange Act of 1934. | <br>Securities registered pursuant to Section 12(b) of the Act: None<br>Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 or Rule 12b-2 of the Securities Exchange Act of 1934. |

---

Emerging growth company ☐

<br> If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐<br>

**SECTION 2 – FINANCIAL INFORMATION** 

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| | |
|:---|:---|
| **ITEM 2.02** | **Results of Operations and Financial Condition.** |

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On March 31, 2026, Koil Energy Solutions, Inc. issued a press release announcing its financial results for the year ended December 31, 2025. A copy of the press release is furnished as Exhibit 99.1 to this report and is incorporated herein by reference.

**SECTION 9 – FINANCIAL STATEMENTS AND EXHIBITS**

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| | |
|:---|:---|
| **ITEM 9.01** | **Financial Statements and Exhibits.** |

---

*(d) Exhibits:*

99.1 [Press Release issued by Koil Energy Solutions, Inc. dated March 31, 2026](koil_ex9901.htm) <br> 104 Cover Page Interactive Data File (embedded within the Inline XBRL document)

**SIGNATURE**

Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized.

---

| | | |
|:---|:---|:---|
|  | **KOIL ENERGY SOLUTIONS, INC.** | **KOIL ENERGY SOLUTIONS, INC.** |
|  | By: | /s/ Erik Wiik |
|  |  | Erik Wiik |
|  |  | President and Chief Executive Officer |
| Date: April 1, 2026 |  |  |

---

## Exhibit 99.1

**Exhibit 99.1**

**KOIL Energy Reports Fourth Quarter and Full Year 2025 Results**

Mar 31, 2026

HOUSTON, Mar. 31, 2026 (GLOBE NEWSWIRE) -- KOIL Energy Solutions, Inc. (OTCQB: KLNG), a specialist in deepwater energy production and distribution equipment and services, released today its fourth quarter and full year 2025 results.

"We achieved a record revenue of $7.3 million this quarter," said Erik Wiik, President and Chief Executive Officer of KOIL Energy. "Our growth initiatives are delivering profitable growth with an EBITDA margin of 10% while we continue to invest heavily in growth."

**Fourth Quarter 2025 Results**:

For the three months ending December 31, 2025, KOIL Energy generated revenues of $7.3 million dollars. This is 22% higher than Q4 last year and 14% higher than last quarter. Both services and fixed priced contracts experienced significant year-over-year growth. Service revenue grew 24% and fixed priced contracts, or Product sales, increased by 21% compared to Q4 last year. This was driven by an exceptional order intake over the past two quarters.

Gross profit for the quarter totaled $2.5 million dollars, or 35% of revenues, compared to $2.4 million dollars, or 40% of revenues, during the fourth quarter of 2024. While profitability was unchanged on a dollar basis, the margin decline reflected a less favorable mix of projects.

Selling, general, and administrative expenses equaled $2.1 million for the quarter, up $237,000 from 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 tied to our growth initiatives. KOIL remained focused on long-term growth by deploying free cash flow to acquire new rental equipment and fund the development of intellectual property, the establishment of our Brazil operations, and international sales. These investments are already delivering positive growth results. We are currently refining our growth strategy and setting ambitious new goals through 2030. We look forward to presenting these plans at an in-person and online investor conference in Houston on May 7–8, 2026, held in conjunction with the Offshore Technology Conference (OTC). Formal invitations will be sent shortly.

In summary, we remain highly confident in our ability to continue to deliver profitable growth. Recent project awards have positioned us strongly for the upcoming quarters.

KOIL will host an investor conference call to review its fourth quarter of 2025 results on Tuesday, March 31, 2026, at 10:00 am Eastern Time.

**PARTICIPANT WEBCAST LINK:**

https://edge.media-server.com/mmc/p/qjebi4ez/

**PARTICIPANT DIALS:** **<br> PARTICIPANT DIAL IN (TOLL FREE) 1-833-630-1956<br> PARTICIPANT INTERNATIONAL DIAL IN 1-412-317-1837**

The earnings release and a replay of the conference call will also be available on the Company's website, www.koilenergy.com, under the "Investors" section.

**About KOIL** (www.koilenergy.com)

KOIL Energy is a leading energy services company offering subsea equipment and support services to the world's energy and offshore industries. We provide innovative solutions to complex customer challenges presented between the production facility and the energy source. Our core services and technological solutions include distribution system installation support and engineering services, umbilical terminations, loose-tube steel flying leads, and related services. Additionally, KOIL Energy's experienced team can support subsea engineering, manufacturing, installation, commissioning, and maintenance projects located anywhere in the world.

**Forward-Looking Statements**

Any forward-looking statements in the preceding paragraphs of this release are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Investors are cautioned that such forward-looking statements involve risks and uncertainties in that actual results may differ materially from those projected in the forward-looking statements. In the course of operations, we are subject to certain risk factors, competition and competitive pressures, sensitivity to general economic and industrial conditions, international political and economic risks, availability and price of raw materials and execution of business strategy. For further information, please refer to the Company's filings with the Securities and Exchange Commission, copies of which are available from the Company without charge.

Investor Relations:<br> ir@koilenergy.com<br> 281-862-2201

**KOIL ENERGY SOLUTIONS, INC.**

**SUMMARY FINANCIAL DATA**

**Comparative Condensed Consolidated Income Statement** 

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| | | | | |
|:---|:---|:---|:---|:---|
|  | **Three Months Ended December 31,** | **Three Months Ended December 31,** | **Years Ended December 31,** | **Years Ended December 31,** |
|  | **2025** | **2024** | **2025** | **2024** |
|  | (In thousands, except per share amounts) | (In thousands, except per share amounts) | (In thousands, except per share amounts) | (In thousands, except per share amounts) |
| Revenues | $7252 | $5941 | $24051 | $22734 |
| &nbsp;&nbsp;&nbsp;Cost of sales | 4753 | 3536 | 16094 | 13985 |
| &nbsp;&nbsp;&nbsp;Selling, general and administrative | 2106 | 1876 | 8326 | 6192 |
| Operating income (loss) | 393 | 529 | (369) | 2557 |
| &nbsp;&nbsp;&nbsp;Total other (income) expense | (1) | (17) | (404) | (79) |
| Income (loss) before income tax expense | 394 | 546 | 35 | 2636 |
| &nbsp;&nbsp;&nbsp;Income tax expense | 51 | 9 | 73 | 16 |
| Net income (loss) | $343 | $537 | $(38) | $2620 |
| &nbsp;&nbsp;&nbsp;Net income (loss) per share, basic | $0.03 | $0.04 | $(0.00) | $0.21 |
| &nbsp;&nbsp;&nbsp;Weighted-average shares outstanding, basic | 12608 | 12344 | 12133 | 12344 |

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**Comparative Condensed Consolidated Balance Sheets**

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| | | |
|:---|:---|:---|
|  | **December 31,** | **December 31,** |
|  | **2025** | **2024** |
|  | (In thousands) | (In thousands) |
| **Assets:** |  |  |
| &nbsp;&nbsp;&nbsp;Cash | $1535 | $3422 |
| &nbsp;&nbsp;&nbsp;Other current assets | 8410 | 6784 |
| &nbsp;&nbsp;&nbsp;PP&E, net | 3642 | 2791 |
| &nbsp;&nbsp;&nbsp;Other non-current assets | 6227 | 5743 |
| Total assets | $19814 | $18740 |
| **Liabilities:** |  |  |
| &nbsp;&nbsp;&nbsp;Current liabilities | $5140 | $4524 |
| &nbsp;&nbsp;&nbsp;Other long-term liabilities | 5711 | 5612 |
| Total liabilities | 10851 | 10136 |
| Stockholders' equity | 8963 | 8604 |
| Total liabilities and stockholders' equity | $19814 | $18740 |

---

**Adjusted EBITDA** 

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| | | | | |
|:---|:---|:---|:---|:---|
|  | **Three Months Ended December 31,** | **Three Months Ended December 31,** | **Years Ended December 31,** | **Years Ended December 31,** |
|  | **2025** | **2024** | **2025** | **2024** |
|  | (In thousands) | (In thousands) | (In thousands) | (In thousands) |
| Net income (loss) | $343 | $537 | $(38) | $2620 |
| &nbsp;&nbsp;&nbsp;(Deduct) Add: Interest (income) expense, net | 10 | (17) | (6) | (47) |
| &nbsp;&nbsp;&nbsp;Add: Income tax expense | 51 | 9 | 73 | 16 |
| &nbsp;&nbsp;&nbsp;Add: Depreciation and amortization | 141 | 134 | 590 | 571 |
| &nbsp;&nbsp;&nbsp;Add: Share-based compensation | 134 | 300 | 375 | 376 |
| &nbsp;&nbsp;&nbsp;Add (Deduct): Loss (gain) on sale of asset |  | (2) | (12) | 1 |
| &nbsp;&nbsp;&nbsp;Add: Loss (Gain) on Litigation Settlement |  |  | (333) |  |
| &nbsp;&nbsp;&nbsp;Add: Restructuring costs | 1 |  | 280 |  |
| &nbsp;&nbsp;&nbsp;Add: Severance | 41 | – | 41 | – |
| Adjusted EBITDA | $721 | $961 | $970 | $3537 |

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**Cash Flow Data** 

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| | | | | |
|:---|:---|:---|:---|:---|
|  | **Three Months Ended December 31,** | **Three Months Ended December 31,** | **Years Ended December 31,** | **Years Ended December 31,** |
|  | **2025** | **2024** | **2025** | **2024** |
|  | (In thousands) | (In thousands) | (In thousands) | (In thousands) |
| Cash provided by (used in): |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Operating activities | $137 | $553 | $(901) | $1726 |
| &nbsp;&nbsp;&nbsp;Investing activities | (381) | (246) | (1533) | (373) |
| &nbsp;&nbsp;&nbsp;Financing activities | (154) | (7) | 562 | 39 |
| &nbsp;&nbsp;&nbsp;Effect of exchange rate changes on cash, cash equivalents, and restricted cash | (15) | – | (15) | - |
| &nbsp;&nbsp;&nbsp;Change in cash | $(413) | $300 | $(1887) | $1392 |

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