Koil Energy Solutions Inc (OTCPK:KLNG)
$ 1.41 0 (0%) Market Cap: 17.18 Mil Enterprise Value: 20.36 Mil PE Ratio: 14.69 PB Ratio: 2.17 GF Score: 37/100
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Q2 2024 Koil Energy Solutions Inc Earnings Call Transcript

Aug 05, 2024 / 02:00PM GMT
Release Date Price: $1.26 (+24.75%)

Key Points

Positve
  • Revenue grew 65% year-over-year, indicating strong business performance.
  • Gross profit almost doubled, showcasing improved profitability.
  • Adjusted EBITDA improved from a loss to a healthy margin of 20%.
  • Awarded a major contract for a subsea safety control system, highlighting trust and capability.
  • Implemented a new approach to planning and forecasting, enhancing operational efficiency.
Negative
  • Service revenue has not grown despite the increase in product revenue.
  • Cash balance dipped at quarter-end due to funds deployed towards building working capital.
  • Ongoing market consolidation and capital discipline partially offset demand increases.
  • Lower R&D costs might impact future innovation and development.
  • Dependence on forming partnerships for overseas market expansion due to being a small company.
Operator

Good morning, ladies and gentlemen. Thank you for standing by, and welcome to Koil Energy second quarter 2024 conference call. (Operator Instructions) As a reminder, this call is being recorded today, Monday, August 5, 2024. A detailed disclaimer related to Koil Energy's forward-looking statements is included in the press release issued Monday morning and filed with the SEC. It is also available on the company's website at koilenergy.com or upon request.

A reconciliation of non-GAAP financial measures used in the press release and on today's call is included in the press release and on the website. Listeners are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date made. Koil Energy also undertakes no obligation to revise any of its forward-looking statements to reflect events or circumstances after the date made.

At this time, I'd like to turn the call over to CEO, Eric Wiik. Please go ahead.

Erik Wiik
Koil Energy Solutions Inc - Chief Executive Officer, Director

Good morning, and thank

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