Koil Energy Solutions, Inc. (KLNG) Financial Statements (2024 and earlier)

Company Profile

Business Address 1310 RANKIN ROAD
HOUSTON, TX 77073
State of Incorp. NV
Fiscal Year End December 31
Industry (SIC) 3533 - Oil and Gas Field Machinery and Equipment (benchmarking)
More info Complete Financial Analysis Financial Benchmarking

Balance Sheet (Statement of Financial Position) ($ in thousands)

3/31/2024
MRQ
12/31/2023
12/31/2022
12/31/2021
12/31/2020
12/31/2019
12/31/2018
ASSETS
Current Assets
Cash, cash equivalents, and short-term investments2,0302,3533,6763,7453,5233,050
Cash and cash equivalents2,0302,3533,6763,7453,5232,015
Short-term investments      1,035
Receivables4,2282,9205,9294,6504,4544,388
Inventory, net of allowances, customer advances and progress billings430202254187  
Inventory430202254187  
Other undisclosed current assets1,1611,4101,1053409702,552
Total current assets:7,8496,88510,9648,9228,9479,990
Noncurrent Assets
Finance lease, right-of-use asset, after accumulated amortization103    
Operating lease, right-of-use asset5,8566,1841,8613,1744,334
Property, plant and equipment2,9683,3051,7272,6047,9649,691
Intangible assets, net (including goodwill)726238445056
Intangible assets, net (excluding goodwill)726238445056
Other noncurrent assets214179136195256383
Total noncurrent assets:9,2139,7303,7626,01712,60410,130
TOTAL ASSETS:17,06216,61514,72614,93921,55120,120
LIABILITIES AND EQUITY
Liabilities
Current Liabilities
Accounts payable and accrued liabilities, including:3,3531,5162,3101,9882,2041,982
Other undisclosed accounts payable and accrued liabilities3,3531,5162,3101,9882,2041,982
Deferred revenue1,377333250730623
Debt74277 8631,1819
Contract with customer, liability973
Other undisclosed current liabilities4808631,3061,261  
Total current liabilities:5,2842,9893,8664,8424,0082,964
Noncurrent Liabilities
Long-term debt and lease obligation24 5882,1993,18047
Long-term debt, excluding current maturities    248 47
Finance lease, liability24    
Liabilities, other than long-term debt6,1366,518    
Operating lease, liability6,1366,5185881,9513,180
Other undisclosed noncurrent liabilities   (588)(1,951)  
Total noncurrent liabilities:6,1606,5185882,1993,18047
Total liabilities:11,4449,5074,4547,0417,1883,011
Equity
Equity, attributable to parent5,6187,10810,2727,89814,36317,109
Common stock161616161616
Treasury stock, value(3,135)(3,135)(2,809)(2,809)(2,284)(2,062)
Additional paid in capital73,84073,77673,68673,63873,52173,271
Accumulated deficit(65,103)(63,549)(60,621)(62,947)(56,890)(54,116)
Total equity:5,6187,10810,2727,89814,36317,109
TOTAL LIABILITIES AND EQUITY:17,06216,61514,72614,93921,55120,120

Income Statement (P&L) ($ in thousands)

3/31/2024
TTM
12/31/2023
12/31/2022
12/31/2021
12/31/2020
12/31/2019
12/31/2018
Revenues15,34312,97717,23312,97718,91516,175
Other income50552,869   
Cost of revenue(10,493)(8,292)(10,733)(8,062)(12,118)(11,393)
Cost of goods and services sold(10,493)(7,796) (7,232)(11,013)(9,803)
Other undisclosed gross profit   (663)   
Gross profit:4,8504,6855,8374,9156,7974,782
Operating expenses(6,460)(7,693)(6,180)(10,952)(9,598)(9,990)
Operating loss:(1,610)(3,008)(343)(6,037)(2,801)(5,208)
Nonoperating income (expense) 802,781(7)19474
Other nonoperating income (expense)    (7) 474
Interest and debt expense7(15)(12)   
Other undisclosed loss from continuing operations before equity method investments, income taxes      
Income (loss) from continuing operations before equity method investments, income taxes:(1,603)(2,943)2,426(6,044)(2,782)(4,734)
Other undisclosed income from continuing operations before income taxes5415    
Income (loss) from continuing operations before income taxes:(1,549)(2,928)2,426(6,044)(2,782)(4,734)
Income tax expense (benefit)(5) (112)(13)8(8)
Income (loss) from continuing operations:(1,554)(2,928)2,314(6,057)(2,774)(4,742)
Income (loss) before gain (loss) on sale of properties:2,314(6,057)(2,774)(4,742)
Other undisclosed net income   124   
Net income (loss):(1,554)(2,928)2,438(6,057)(2,774)(4,742)
Other undisclosed net loss attributable to parent   (112)   
Net income (loss) available to common stockholders, diluted:(1,554)(2,928)2,326(6,057)(2,774)(4,742)

Comprehensive Income ($ in thousands)

3/31/2024
TTM
12/31/2023
12/31/2022
12/31/2021
12/31/2020
12/31/2019
12/31/2018
Net income (loss):(1,554)(2,928)2,438(6,057)(2,774)(4,742)
Comprehensive income (loss), net of tax, attributable to parent:(1,554)(2,928)2,438(6,057)(2,774)(4,742)

Statements Sources

The financial statements are based on the Company's filings with the U.S. Securities and Exchange Commission (SEC) through the Electronic Data Gathering, Analysis, and Retrieval system (EDGAR). The information is derived from the 10-K and 10-Q reports submitted to the SEC in XBRL (eXtensible Business Reporting Language) format and presented according to the US GAAP Taxonomy. Please review the original filings for a more detailed information.

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