KOIL Energy Reports Third Quarter 2026 Results
Key Highlights
- ➤Revenue $10.3 million, up 62% year-over-year in Q3 2026
- ➤Adjusted EBITDA $837,000, or 8% of revenue
- ➤KOIL secured first significant subsea umbilical maintenance contract in Brazil
- ➤KOIL raised approximately $5.6 million through PIPE equity financing
- ➤Net income $207,000, versus $413,000 loss in Q3 2025
Expert Statements
Erik Wiik, President and Chief Executive Officer of KOIL Energy
“The KOIL team continues to raise the bar, delivering record revenue quarter after quarter while surpassing one million work hours without a recordable incident”
HOUSTON, Nov. 13, 2026 (GLOBE NEWSWIRE) -- KOIL Energy Solutions, Inc. (OTCQB: KLNG), a specialist in deepwater energy production and distribution equipment and services, today announced its third quarter 2026 results. * Record revenue of $10.3 million, 62% year-over-year increase compared to third quarter of 2025 * Fifth quarter of sequential quarterly double-digit revenue growth * Adjusted EBITDA of $837,000 or 8% of revenue * Awarded first significant contract in Brazil * Raised $5.6 Million in Equity Capital to finance rental equipment "The KOIL team continues to raise the bar, delivering record revenue quarter after quarter while surpassing one million work hours without a recordable incident,” said Erik Wiik, President and Chief Executive Officer of KOIL Energy. “Achieving profitable growth alongside this extraordinary safety milestone is truly remarkable. We also deeply appreciate the confidence our investors have placed in KOIL by providing the equity capital to further expand our service capacity. Their support has strengthened our position to capitalize on the opportunities in a robust subsea market."
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