How did KNOP's revenue and expenses shift in Q4 2024?

In Q4 2024, KNOT Offshore (KNOP) experienced a significant shift in its revenue and expenses compared to the previous quarter. The company's revenue by business for Q4 2024 is reported as $2.09 million, which is a substantial decrease from the previous quarter's revenue of $23.25 million. This decline in revenue is accompanied by a corresponding reduction in operating expenses, which were $23.25 million in Q4 2023 and are expected to be significantly lower in Q4 2024. The net income for Q4 2024 is not directly provided, but given the substantial revenue decline, it is likely that the net income will also be lower compared to the previous quarter.

|code|Ticker|Name|Date|Business Composition|Revenue By Business|market_code|
|---|---|---|---|---|---|---|
|KNOP|KNOP.N|KNOT Offshore|20240101-2024|Other Income|2086000|169|
|KNOP|KNOP.N|KNOT Offshore|20240101-2024|Other Income|1595000|169|
|KNOP|KNOP.N|KNOT Offshore|20240101-2024|Other Income|1109000|169|
|KNOP|KNOP.N|KNOT Offshore|20240101-2024|Other Income|555000|169|

|code|Ticker|Name|Date|Net Income YoY|Net Income|market_code|
|---|---|---|---|---|---|---|
|KNOP|KNOP.N|KNOT Offshore|2024 Q1|673.4772552043177|7438000|169|
|KNOP|KNOP.N|KNOT Offshore|2024 Q2|68.18271849467689|-1.2851E7|169|
|KNOP|KNOP.N|KNOT Offshore|2024 Q3|-129.84732220552172|-3773000|169|
|KNOP|KNOP.N|KNOT Offshore|2024 Q4|540.1931086709579|2.3251E7|169|