Koil Energy Solutions, Inc.

Koil Energy Solutions, Inc. announced the closing of a private placement raising approximately $5.6 million in gross proceeds. The financing involved the sale of common stock and pre-funded warrants to institutional and accredited investors. The company intends to use the net proceeds for working capital, general corporate purposes, and expanding its rental equipment fleet. Additionally, Koil Energy provided preliminary Q3 2026 financial results, expecting revenue between $9.4 million and $10.0 million, representing significant year-over-year growth.

Koil Energy Solutions, Inc. announced a major project award for subsea umbilical handling, spooling, and storage services. The project will utilize both a newly acquired 3,500-metric-ton mobile offshore carousel and an existing carousel asset. This award validates the company's strategy to scale its rental equipment and services platform and follows the recent securing of a new credit facility to finance the new asset. The work is scheduled for the second half of 2026.

Koil Energy Solutions, Inc. entered into a Loan and Security Agreement with nFusion Capital Finance, LLC, establishing a new $5.0 million asset-based revolving credit facility. This facility, with an initial 12-month term and automatic renewals, will support working capital and accelerate the expansion of the company's rental equipment fleet. It replaces a prior receivables factoring arrangement, which has been fully repaid, resulting in Koil Energy having no outstanding financial debt other than lease obligations.

Koil Energy Solutions reported record first-quarter 2026 results, with revenue increasing 56% year-over-year to $8.2 million. The company achieved a net income of $241,000, a significant improvement from a net loss in the prior year. Growth was fueled by increased fixed-price contract activity and new client contributions, alongside several new contract wins in manufacturing and subsea systems.

Koil Energy Solutions, Inc. reported strong financial improvements for the first quarter ended March 31, 2026, with revenues increasing to $8.17 million and a return to profitability with net income of $241 thousand. The company also saw a significant improvement in operating income and positive cash flow from operations. Additionally, Koil Energy secured a judgment of approximately $575 thousand in the OMSi lawsuit, indicating progress in recovering outstanding payments.