Koil Energy Posts Record Q2 Revenue of $9.23M, Up 78% YoY
KLNG has more than doubled off its 52-week low of $1.12.
Summary
Koil Energy posted record Q2 revenue of $9.23M, up 78% YoY, with net income of $652K. The company also disclosed an unremediated material weakness and a new $5M credit facility.
Key Events · Earnings and Guidance · KLNG
-
Record Q2 Revenue
Revenue of $9.23 million, up 78% year-over-year, driven by a large fixed-price project and carousel service work.
-
Net Income and EPS
Net income of $652,000, or $0.05 per diluted share, compared to $61,000, or $0.00 per share, in Q2 2025.
-
Material Weakness Remains
Disclosure controls and procedures remain ineffective due to a material weakness in internal control over financial reporting, with remediation expected by end of fiscal 2026.
-
New Credit Facility
Entered into a $5 million asset-based revolving credit facility with nFusion on May 19, 2026; $2.4 million outstanding at June 30, 2026, with an effective interest rate of 11.50% plus a 0.25% monthly fee.
Analysis · KLNG · Energy & Transportation
Record Q2 revenue of $9.23 million, up 78% year-over-year, underscores Koil Energy's momentum, with net income of $652,000 and EPS of $0.05. The company also disclosed that a material weakness in internal control over financial reporting remains unremediated, though management expects remediation by the end of fiscal 2026. A new $5 million asset-based credit facility with nFusion, of which $2.4 million is drawn, provides liquidity but carries an effective interest rate of 11.50% plus fees. Two director option exercises added 100,000 shares for $72,000 in proceeds.
At the time of this filing, KLNG was trading at $2.80 on OTC in the Energy & Transportation sector, with a market capitalization of approximately $34.2M. The 52-week trading range was $1.12 to $3.06. This filing was assessed with positive market sentiment and an importance score of 8 out of 10.