$KLNG
Koil Energy Solutions, Inc.

2023 Q4 Form 10-Q Financial Statement

#000168316823007870 Filed on November 13, 2023

View on sec.gov

Income Statement

Concept 2023 Q4 2023 Q3
Revenue $4.005M $4.107M
YoY Change 10.64% 81.97%
Cost Of Revenue $3.319M $2.733M
YoY Change 58.05% 37.47%
Gross Profit $686.0K $1.374M
YoY Change -54.87% 410.78%
Gross Profit Margin 17.13% 33.46%
Selling, General & Admin $1.545M $1.555M
YoY Change -21.17% -5.41%
% of Gross Profit 225.22% 113.17%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $145.0K $27.00K
YoY Change -3.33% -43.75%
% of Gross Profit 21.14% 1.97%
Operating Expenses $1.573M $1.582M
YoY Change -20.56% -6.5%
Operating Profit -$887.0K -$208.0K
YoY Change 92.83% -85.38%
Interest Expense $4.000K -$7.000K
YoY Change -140.0% -240.0%
% of Operating Profit
Other Income/Expense, Net -$3.000K $68.00K
YoY Change -144.74%
Pretax Income -$884.0K -$140.0K
YoY Change -30.94% -91.11%
Income Tax -$3.000K $3.000K
% Of Pretax Income
Net Earnings -$881.0K -$143.0K
YoY Change -30.08% -90.94%
Net Earnings / Revenue -22.0% -3.48%
Basic Earnings Per Share -$0.01
Diluted Earnings Per Share -$0.07 -$0.01
COMMON SHARES
Basic Shares Outstanding 11.89M shares 11.89M shares
Diluted Shares Outstanding 11.89K shares

Balance Sheet

Concept 2023 Q4 2023 Q3
SHORT-TERM ASSETS
Cash & Short-Term Investments $2.030M $1.130M
YoY Change -13.62% -68.11%
Cash & Equivalents $2.030M $1.132M
Short-Term Investments
Other Short-Term Assets $681.0K $1.150M
YoY Change -39.73% 22.73%
Inventory $430.0K $172.0K
Prepaid Expenses
Receivables $4.708M $5.502M
Other Receivables $0.00 $0.00
Total Short-Term Assets $7.849M $8.088M
YoY Change 14.0% 9.68%
LONG-TERM ASSETS
Property, Plant & Equipment $8.927M $3.098M
YoY Change 170.11% -2.15%
Goodwill
YoY Change
Intangibles $72.00K $74.00K
YoY Change 16.13% 76.19%
Long-Term Investments
YoY Change
Other Assets $214.0K $223.0K
YoY Change 19.55% 21.86%
Total Long-Term Assets $9.213M $9.331M
YoY Change -5.31% -11.18%
TOTAL ASSETS
Total Short-Term Assets $7.849M $8.088M
Total Long-Term Assets $9.213M $9.331M
Total Assets $17.06M $17.42M
YoY Change 2.69% -2.57%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $3.353M $2.500M
YoY Change 120.59% 14.1%
Accrued Expenses $480.0K $450.0K
YoY Change -44.19% -32.43%
Deferred Revenue $1.377M $1.747M
YoY Change 313.51% 3697.83%
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due $74.00K $40.00K
YoY Change -73.57%
Total Short-Term Liabilities $5.284M $4.735M
YoY Change 76.78% 63.11%
LONG-TERM LIABILITIES
Long-Term Debt $24.00K $20.00K
YoY Change
Other Long-Term Liabilities $6.136M $6.180M
YoY Change -5.89% -6.72%
Total Long-Term Liabilities $6.160M $6.200M
YoY Change -5.52% -6.42%
TOTAL LIABILITIES
Total Short-Term Liabilities $5.284M $4.735M
Total Long-Term Liabilities $6.160M $6.200M
Total Liabilities $11.44M $10.94M
YoY Change 20.37% 14.77%
SHAREHOLDERS EQUITY
Retained Earnings -$65.10M -$64.22M
YoY Change 2.45% 3.11%
Common Stock $16.00K $16.00K
YoY Change 0.0% 0.0%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $5.618M $6.484M
YoY Change
Total Liabilities & Shareholders Equity $17.06M $17.42M
YoY Change 2.69% -2.57%

Cashflow Statement

Concept 2023 Q4 2023 Q3
OPERATING ACTIVITIES
Net Income -$881.0K -$143.0K
YoY Change -30.08% -90.94%
Depreciation, Depletion And Amortization $145.0K $27.00K
YoY Change -3.33% -43.75%
Cash From Operating Activities $933.0K -$970.0K
YoY Change -211.07% -174.73%
INVESTING ACTIVITIES
Capital Expenditures $0.00 $150.0K
YoY Change -100.0% -111.83%
Acquisitions
YoY Change
Other Investing Activities $4.000K $0.00
YoY Change -80.0% -100.0%
Cash From Investing Activities $4.000K -$150.0K
YoY Change -101.33% -87.44%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -40.00K -100.0K
YoY Change -20.0%
NET CHANGE
Cash From Operating Activities 933.0K -970.0K
Cash From Investing Activities 4.000K -150.0K
Cash From Financing Activities -40.00K -100.0K
Net Change In Cash 897.0K -1.220M
YoY Change -175.38% -1273.08%
FREE CASH FLOW
Cash From Operating Activities $933.0K -$970.0K
Capital Expenditures $0.00 $150.0K
Free Cash Flow $933.0K -$1.120M
YoY Change -180.43% -143.65%

Facts In Submission

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-119000 usd
us-gaap Increase Decrease In Contract With Customer Liability
IncreaseDecreaseInContractWithCustomerLiability
1415000 usd
us-gaap Increase Decrease In Contract With Customer Liability
IncreaseDecreaseInContractWithCustomerLiability
-204000 usd
us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
-733000 usd
us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
2077000 usd
us-gaap Proceeds From Sale Of Property Plant And Equipment
ProceedsFromSaleOfPropertyPlantAndEquipment
2000 usd
us-gaap Proceeds From Sale Of Property Plant And Equipment
ProceedsFromSaleOfPropertyPlantAndEquipment
258000 usd
us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
230000 usd
us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
2223000 usd
us-gaap Payments For Proceeds From Loans Receivable
PaymentsForProceedsFromLoansReceivable
-0 usd
us-gaap Payments For Proceeds From Loans Receivable
PaymentsForProceedsFromLoansReceivable
-4000 usd
us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-228000 usd
us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-1961000 usd
us-gaap Finance Lease Principal Payments
FinanceLeasePrincipalPayments
260000 usd
us-gaap Finance Lease Principal Payments
FinanceLeasePrincipalPayments
-0 usd
us-gaap Payments For Repurchase Of Common Stock
PaymentsForRepurchaseOfCommonStock
-0 usd
us-gaap Payments For Repurchase Of Common Stock
PaymentsForRepurchaseOfCommonStock
250000 usd
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
-260000 usd
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
-250000 usd
us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Excluding Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseExcludingExchangeRateEffect
-1221000 usd
us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Excluding Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseExcludingExchangeRateEffect
-134000 usd
CY2022Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
2353000 usd
CY2021Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
3676000 usd
CY2023Q3 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
1132000 usd
CY2022Q3 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
3542000 usd
KLNG Shares Of Common Stock Received In Exchange For Property Plant And Equipment
SharesOfCommonStockReceivedInExchangeForPropertyPlantAndEquipment
0 usd
KLNG Shares Of Common Stock Received In Exchange For Property Plant And Equipment
SharesOfCommonStockReceivedInExchangeForPropertyPlantAndEquipment
76000 usd
CY2023Q3 us-gaap Lessee Operating Lease Liability Payments Due Year Three
LesseeOperatingLeaseLiabilityPaymentsDueYearThree
993000 usd
CY2023Q3 us-gaap Finance Lease Liability Payments Due Year Three
FinanceLeaseLiabilityPaymentsDueYearThree
12000 usd
CY2023Q3 us-gaap Cash
Cash
1132000 usd
CY2023Q3 KLNG Working Capital
WorkingCapital
3353000 usd
CY2022Q4 us-gaap Cash
Cash
2353000 usd
CY2022Q4 KLNG Working Capital
WorkingCapital
3621000 usd
CY2023Q3 KLNG Accounts Receivable Factor
AccountsReceivableFactor
263000 usd
CY2022 us-gaap Operating Lease Impairment Loss
OperatingLeaseImpairmentLoss
820000 usd
CY2023Q3 us-gaap Lessee Operating Lease Liability Payments Due Year Four
LesseeOperatingLeaseLiabilityPaymentsDueYearFour
1013000 usd
CY2023Q3 us-gaap Finance Lease Liability Payments Due Year Four
FinanceLeaseLiabilityPaymentsDueYearFour
0 usd
CY2023Q3 us-gaap Lessee Operating Lease Liability Payments Due After Year Five
LesseeOperatingLeaseLiabilityPaymentsDueAfterYearFive
5469000 usd
CY2023Q3 us-gaap Finance Lease Liability Payments Due After Year Five
FinanceLeaseLiabilityPaymentsDueAfterYearFive
0 usd
CY2023Q3 us-gaap Lessee Operating Lease Liability Payments Due
LesseeOperatingLeaseLiabilityPaymentsDue
9417000 usd
CY2023Q3 us-gaap Finance Lease Liability Payments Due
FinanceLeaseLiabilityPaymentsDue
66000 usd
CY2023Q3 us-gaap Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
5865000 usd
CY2022Q4 us-gaap Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
6184000 usd
CY2023Q3 us-gaap Operating Lease Liability Current
OperatingLeaseLiabilityCurrent
448000 usd
CY2022Q4 us-gaap Operating Lease Liability Current
OperatingLeaseLiabilityCurrent
863000 usd
CY2023Q3 us-gaap Operating Lease Liability Noncurrent
OperatingLeaseLiabilityNoncurrent
6177000 usd
CY2022Q4 us-gaap Operating Lease Liability Noncurrent
OperatingLeaseLiabilityNoncurrent
6518000 usd
CY2023Q3 us-gaap Operating Lease Liability
OperatingLeaseLiability
6625000 usd
CY2022Q4 us-gaap Operating Lease Liability
OperatingLeaseLiability
7381000 usd
CY2023Q3 us-gaap Short Term Lease Cost
ShortTermLeaseCost
63000 usd
CY2022Q3 us-gaap Short Term Lease Cost
ShortTermLeaseCost
84000 usd
us-gaap Short Term Lease Cost
ShortTermLeaseCost
208000 usd
us-gaap Short Term Lease Cost
ShortTermLeaseCost
304000 usd
CY2023Q3 us-gaap Lease Cost
LeaseCost
308000 usd
CY2022Q3 us-gaap Lease Cost
LeaseCost
605000 usd
us-gaap Lease Cost
LeaseCost
929000 usd
us-gaap Lease Cost
LeaseCost
1507000 usd
CY2023Q3 us-gaap Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
P9Y24D
CY2022Q4 us-gaap Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
P8Y8M16D
CY2023Q3 us-gaap Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
0.07995 pure
CY2022Q4 us-gaap Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
0.07694 pure
CY2023Q3 us-gaap Lessee Operating Lease Liability Undiscounted Excess Amount
LesseeOperatingLeaseLiabilityUndiscountedExcessAmount
2792000 usd
CY2023Q3 us-gaap Finance Lease Liability Undiscounted Excess Amount
FinanceLeaseLiabilityUndiscountedExcessAmount
4000 usd
CY2023Q3 us-gaap Operating Lease Liability
OperatingLeaseLiability
6625000 usd
CY2023Q3 us-gaap Finance Lease Liability
FinanceLeaseLiability
62000 usd
CY2023Q3 us-gaap Finance Lease Right Of Use Asset
FinanceLeaseRightOfUseAsset
71000 usd
CY2022Q4 us-gaap Finance Lease Right Of Use Asset
FinanceLeaseRightOfUseAsset
275000 usd
CY2023Q3 us-gaap Finance Lease Liability Current
FinanceLeaseLiabilityCurrent
39000 usd
CY2022Q4 us-gaap Finance Lease Liability Current
FinanceLeaseLiabilityCurrent
277000 usd
CY2023Q3 us-gaap Finance Lease Liability Noncurrent
FinanceLeaseLiabilityNoncurrent
23000 usd
CY2022Q4 us-gaap Finance Lease Liability Noncurrent
FinanceLeaseLiabilityNoncurrent
0 usd
CY2023Q3 us-gaap Finance Lease Liability
FinanceLeaseLiability
62000 usd
CY2022Q4 us-gaap Finance Lease Liability
FinanceLeaseLiability
277000 usd
CY2023Q3 us-gaap Finance Lease Weighted Average Remaining Lease Term1
FinanceLeaseWeightedAverageRemainingLeaseTerm1
P2Y13D
CY2022Q4 us-gaap Finance Lease Weighted Average Remaining Lease Term1
FinanceLeaseWeightedAverageRemainingLeaseTerm1
P0Y9M30D
CY2023Q3 us-gaap Finance Lease Weighted Average Discount Rate Percent
FinanceLeaseWeightedAverageDiscountRatePercent
0.07015 pure
CY2022Q4 us-gaap Finance Lease Weighted Average Discount Rate Percent
FinanceLeaseWeightedAverageDiscountRatePercent
0.08230 pure
CY2023Q3 us-gaap Lessee Operating Lease Liability Payments Due Next Twelve Months
LesseeOperatingLeaseLiabilityPaymentsDueNextTwelveMonths
962000 usd
CY2023Q3 us-gaap Finance Lease Liability Payments Due Next Twelve Months
FinanceLeaseLiabilityPaymentsDueNextTwelveMonths
41000 usd
CY2023Q3 us-gaap Lessee Operating Lease Liability Payments Due Year Two
LesseeOperatingLeaseLiabilityPaymentsDueYearTwo
980000 usd
CY2023Q3 us-gaap Finance Lease Liability Payments Due Year Two
FinanceLeaseLiabilityPaymentsDueYearTwo
13000 usd
CY2023Q3 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
4107000 usd
CY2022Q3 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
2257000 usd
us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
11338000 usd
us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
9357000 usd
CY2023Q3 KLNG Costsincurredonuncompletedcontracts
Costsincurredonuncompletedcontracts
1148000 usd
CY2022Q4 KLNG Costsincurredonuncompletedcontracts
Costsincurredonuncompletedcontracts
342000 usd
CY2023Q3 KLNG Estimatedearningsonuncompletedcontracts
Estimatedearningsonuncompletedcontracts
439000 usd
CY2022Q4 KLNG Estimatedearningsonuncompletedcontracts
Estimatedearningsonuncompletedcontracts
465000 usd
CY2023Q3 KLNG Gross Costs And Estimated Earnings
GrossCostsAndEstimatedEarnings
1587000 usd
CY2022Q4 KLNG Gross Costs And Estimated Earnings
GrossCostsAndEstimatedEarnings
807000 usd
CY2023Q3 KLNG Billingstodateonuncompletedcontracts
Billingstodateonuncompletedcontracts
-3198000 usd
CY2022Q4 KLNG Billingstodateonuncompletedcontracts
Billingstodateonuncompletedcontracts
-859000 usd
CY2023Q3 KLNG Costs Incurred Plus Estimated Earning Less Billings On Uncompleted Contracts Net
CostsIncurredPlusEstimatedEarningLessBillingsOnUncompletedContractsNet
-1611000 usd
CY2022Q4 KLNG Costs Incurred Plus Estimated Earning Less Billings On Uncompleted Contracts Net
CostsIncurredPlusEstimatedEarningLessBillingsOnUncompletedContractsNet
-52000 usd
CY2023Q3 us-gaap Contract With Customer Asset Net
ContractWithCustomerAssetNet
136000 usd
CY2022Q4 us-gaap Contract With Customer Asset Net
ContractWithCustomerAssetNet
281000 usd
CY2023Q3 us-gaap Contract With Customer Liability
ContractWithCustomerLiability
1747000 usd
CY2022Q4 us-gaap Contract With Customer Liability
ContractWithCustomerLiability
333000 usd
CY2023Q3 KLNG Costs Incurred Plus Estimated Earning Less Billings On Uncompleted Contract Net
CostsIncurredPlusEstimatedEarningLessBillingsOnUncompletedContractNet
-1611000 usd
CY2022Q4 KLNG Costs Incurred Plus Estimated Earning Less Billings On Uncompleted Contract Net
CostsIncurredPlusEstimatedEarningLessBillingsOnUncompletedContractNet
-52000 usd
CY2023Q3 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
8326000 usd
CY2022Q4 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
8114000 usd
CY2023Q3 us-gaap Real Estate Accumulated Depreciation
RealEstateAccumulatedDepreciation
5228000 usd
CY2022Q4 us-gaap Real Estate Accumulated Depreciation
RealEstateAccumulatedDepreciation
4809000 usd
CY2023Q3 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
3098000 usd
CY2022Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
3305000 usd
CY2023Q3 us-gaap Stock Repurchased During Period Shares
StockRepurchasedDuringPeriodShares
0 shares
us-gaap Stock Repurchased During Period Shares
StockRepurchasedDuringPeriodShares
0 shares
CY2022Q3 us-gaap Stock Repurchased During Period Shares
StockRepurchasedDuringPeriodShares
0 shares
us-gaap Stock Repurchased During Period Shares
StockRepurchasedDuringPeriodShares
501 shares
us-gaap Stock Repurchased During Period Value
StockRepurchasedDuringPeriodValue
326000 usd
CY2023Q3 us-gaap Weighted Average Number Of Shares Issued Basic
WeightedAverageNumberOfSharesIssuedBasic
11888 shares
CY2022Q3 us-gaap Weighted Average Number Of Shares Issued Basic
WeightedAverageNumberOfSharesIssuedBasic
11888 shares
us-gaap Weighted Average Number Of Shares Issued Basic
WeightedAverageNumberOfSharesIssuedBasic
11888 shares
us-gaap Weighted Average Number Of Shares Issued Basic
WeightedAverageNumberOfSharesIssuedBasic
12012 shares
CY2023Q3 us-gaap Pro Forma Weighted Average Shares Outstanding Diluted
ProFormaWeightedAverageSharesOutstandingDiluted
0 shares
CY2022Q3 us-gaap Pro Forma Weighted Average Shares Outstanding Diluted
ProFormaWeightedAverageSharesOutstandingDiluted
0 shares
us-gaap Pro Forma Weighted Average Shares Outstanding Diluted
ProFormaWeightedAverageSharesOutstandingDiluted
0 shares
us-gaap Pro Forma Weighted Average Shares Outstanding Diluted
ProFormaWeightedAverageSharesOutstandingDiluted
0 shares
CY2023Q3 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
11888 shares
CY2022Q3 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
11888 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
11888 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
12012 shares
CY2021 KLNG Employee Retention Credit
EmployeeRetentionCredit
650000 usd
CY2023Q3 KLNG Employee Retention Receivable
EmployeeRetentionReceivable
669000 usd
KLNG Employee Retention Credit Received
EmployeeRetentionCreditReceived
344000 usd
KLNG Selling Of Goods And Materials Basis Percentage
SellingOfGoodsAndMaterialsBasisPercentage
0.15 pure
KLNG Selling Of Goods Milestone Billing Basis Percentage
SellingOfGoodsMilestoneBillingBasisPercentage
0.25 pure
CY2023Q3 KLNG Interest Rate
InterestRate
0.0200 pure
CY2023Q3 us-gaap Derivative Floor Interest Rate
DerivativeFloorInterestRate
0.0800 pure

Files In Submission

Name View Source Status
klng-20230930_def.xml Edgar Link unprocessable
0001683168-23-007870-index-headers.html Edgar Link pending
0001683168-23-007870-index.html Edgar Link pending
0001683168-23-007870.txt Edgar Link pending
0001683168-23-007870-xbrl.zip Edgar Link pending
Financial_Report.xlsx Edgar Link pending
klng-20230930.xsd Edgar Link pending
koil_ex3101.htm Edgar Link pending
koil_ex3102.htm Edgar Link pending
koil_ex3201.htm Edgar Link pending
koil_ex3202.htm Edgar Link pending
koil_i10q-093023.htm Edgar Link pending
MetaLinks.json Edgar Link pending
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klng-20230930_pre.xml Edgar Link unprocessable
klng-20230930_cal.xml Edgar Link unprocessable
FilingSummary.xml Edgar Link unprocessable
klng-20230930_lab.xml Edgar Link unprocessable
koil_i10q-093023_htm.xml Edgar Link completed
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report.css Edgar Link pending
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