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Other financials

Income statement

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Revenue$37.0M-22.4%
Gross profit-$26.3M-9,631%
Operating income-$98.4M-182%
Net income-$145.4M-162%
EPS (diluted)-$0.24-118%

Balance sheet

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Cash & equivalents$357.3M+827%
Total debt$591.0M
Total equity$419.1M-36.6%
Total assets$1.1B

Cash flow

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Operating cash flow-$64.7M-243%
CapEx$10.3M-76.2%
Free cash flow-$75.0M-20.6%

Valuation

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Market cap$2.05B+66.9%
Enterprise value$2.29B
P/S13.6×

Profitability

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Gross margin-7.9%-2.8pp
Operating margin-37.8%+2.0pp
Net margin-52%+24.6pp
FCF margin-259.9%+201pp

Returns & leverage

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Return on equity-6.1%-2.5pp
Debt / equity1.4×
Current ratio9.6×

Where this comes from

Reported directly by Keel Infrastructure in its filing.

Tagged under the XBRL concept us-gaap:CryptoAssetFairValueCurrent.

The source filing: Keel Infrastructure’s 10-Q, filed May 11, 2026.

Filed
May 11, 2026, 7:00 AM EDT
Fiscal quarter
Q1 FY2026
Calendar quarter
Q1 2026
Accession
0001213900-26-054166
Line itemAs of March 31, 2026As of December 31, 2025
Current
Cash357,277573,462
Accounts receivable, net5,3575,471
Digital assets168,481174,726
Digital assets - restricted5,559
Other assets2,4602,825
Rights to renewable energy credits and waste tax credits10,80718,478
Assets held for sale14,05428,664

Item 1. Financial Statements (Unaudited)

FAQ

What is Keel Infrastructure's digital assets?
Keel Infrastructure (KEEL) reported digital assets of $168.48M in Q1 2026.
What does digital assets mean?
The total fair market value of digital assets held by the company that are readily convertible into cash. This represents the liquid cryptocurrency treasury available for operational expenses or strategic deployment. Monitoring this balance provides insight into the company's immediate liquidity position and exposure to digital asset price volatility.

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