Koil Energy Solutions Earnings Call Transcripts
Fiscal Year 2025
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Q4 2025 saw 22% revenue growth year-over-year and strong service revenue gains, though full-year EBITDA declined due to growth investments and a receivable write-down. The company expanded internationally, especially in Brazil, and expects continued momentum in subsea projects as industry demand rises.
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Revenue grew 22% year-over-year to $6.4 million, driven by strong service and product sales. Despite a net loss due to a receivable write-off and higher costs, record backlog and robust bidding activity support a positive outlook for future quarters.
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Q2 2025 revenue fell 10% year-over-year to $5.2M, with gross margin at 33% and net income at $61K. Service contract revenue rose, but fixed price projects declined; major new contracts and a strong pipeline support an improved outlook for the second half of 2025.
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Q1 2025 saw a 9% year-over-year revenue decline to $5.3M, with gross margin dropping to 31% and net income at breakeven. Service contract revenue nearly doubled, but fixed price contracts fell 40%. Order intake and bidding activity improved late in the quarter, supporting a positive outlook.
Fiscal Year 2024
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Delivered record revenue and profitability in 2024, driven by fixed-price projects and international expansion. Strong cash flow, improved margins, and a robust subsea market position support a positive outlook for 2025.
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Q3 2024 saw 27% revenue growth year-over-year, improved gross margin to 40%, and a swing to net income. Supply chain delays shifted some revenue to Q4, while international expansion and new contracts support a strong outlook.
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Q2 2024 saw 65% revenue growth, a doubling of gross profit, and a major subsea contract win. Product revenue tripled year-over-year, EBITDA margin rose to 20%, and the company remains free cash flow positive with no long-term debt.