The following is a summary of the Koil Energy Solutions, Inc. (KLNG) Q2 2024 Earnings Call Transcript:

Financial Performance:

• Q2 revenue increased by 65% year-over-year to $5.8 million.

• Gross profit for Q2 was $2.2 million, constituting 39% of revenues, which is a 6% increase in gross margin year-over-year.

• Net income for Q2 was approximately $1 million, translating to $0.08 per diluted share, a significant improvement from a net loss of $433,000 or $0.04 loss per share in Q2 of the previous year.

• EBITDA margin improved from 13% in Q1 to 20% in Q2.

Business Progress:

• Awarded a major contract for a subsea safety control system, including engineering, procurement, manufacturing, installation, and testing.

• Noted progress in key strategic areas: deepening relationships with key accounts, leveraging standardized product solutions, responding to increasing demand for Brownfield services, and pursuing international markets with existing clients.

Opportunities:

• Increased global demand for long-cycle offshore project developments and subsea tiebacks offers substantial growth opportunities.

• Poised to service not only oil and gas but also offshore renewable energy projects, given its robust technology offerings and operational capabilities.

Risks:

• No explicit risks detected.

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