Koil Energy Solutions (KLNG) Q2 2026 earnings summary

Executive summary

• Achieved record Q2 2026 revenue of $9.2 million, a 78% year-over-year increase, driven by strong execution, growth in subsea industry segments, and major project awards.

• Adjusted EBITDA reached $1.1 million (12% margin), up $955,000 year-over-year, reflecting operational excellence and improved project throughput.

• Net income for Q2 2026 was $652,000 ($0.05 per diluted share), up from $61,000 ($0.01 per share) in Q2 2025.

• Service contract revenue grew 115% year-over-year; fixed price/product sales rose 49% year-over-year.

• Major project awards, international expansion—especially in Brazil—and strategic investments in rental equipment fueled results.

Financial highlights

• Q2 2026 revenue: $9.2 million, up 78% year-over-year from $5.2 million.

• Gross profit: $3 million (32% margin), slightly down from 33% margin last year.

• Adjusted EBITDA: $1.1 million vs. $163,000 in Q2 2025.

• Net income: $652,000; EPS: $0.05 vs. $0.01 in Q2 2025.

• Cash at June 30, 2026: $922,000; working capital: $3.8 million.

Outlook and guidance

• Most major carousel project work will occur in H2 2026, with long-term storage revenue to follow.

• Continued focus on growth pillars: distribution systems, Brazilian expansion, and rental equipment.

• Subsea tieback projects and international service growth expected to drive future performance.

• Management anticipates adequate liquidity for the next 12 months, supported by cash, operating cash flows, and a new lending facility.