Koil Energy Solutions Inc

koilenergy.com

What Do They Do?

Designs and supplies subsea equipment and provides engineering and offshore installation services to energy companies, subsea equipment manufacturers, and installation contractors.

How Do They Make Money?

Customers pay for fixed-price subsea projects as work progresses, with invoices tied to contract milestones; service work is billed monthly and is usually payable within 30 days of invoice receipt.

FY2025 revenue

Who Are Their Customers?

Customers worldwide generally order after discussing project needs with Koil Energy’s Houston-based sales force; project managers coordinate larger production-system orders with engineering, manufacturing, and service teams.

Customers above 10% of revenue, FY2025

of revenue from two customers (23%, 16%)

FY2024: 74% from two customers

Do Revenues Turn Into Profits?

No. It lost $38K in FY2025.

Operating income, FY2025

−2% of revenue

▼ Now a loss vs FY2024 ($2.6M, 11%)

Net income, FY2025

0% of revenue

▼ Now a loss vs FY2024 ($2.6M, 12%)

Free cash flow, FY2025

−9% of revenue

▼ Now a loss vs FY2024 ($1.4M, 6%)

How Are They Changing?

Since the FY2025 annual report

Latest quarter: Q2 FY2026, the three months to Jun 30, 2026

Revenue: ▲ +78%; vs $5.2M in Q2 FY2025
Net income: ▲ +969%; vs $61K in Q2 FY2025

Growing. Revenue grew 40% in 4 years, from $17.2M in FY2021 to $24.1M in FY2025, about 9% a year.

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