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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:CryptoAssetFairValue.

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 itemThree months ended March 31, 2026 / QuantityThree months ended March 31, 2026 / Value ($)Three months ended March 31, 2025 / QuantityThree months ended March 31, 2025 / Value ($)
Change in Bitcoin earned, not received120(9)(812)
Bitcoin exchanged for cash(64)(4,373)(428)(37,263)
Bitcoin exchanged for goods and services(55)(5,179)
Realized gain (loss) on disposition of digital(1,810)4,977
Change in fair value of digital assets(41,449)(23,033)
Balance of digital assets excluding restricted digital assets as of March 31,2,469168,4811,492123,232
Less: Restricted digital assets as of March 31,**(353)(29,120)
Balance of digital assets excluding restricted digital assets as of March 31,2,469168,4811,13994,112

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.
How has Keel Infrastructure's digital assets changed year-over-year?
Keel Infrastructure's digital assets increased by 36.7% year-over-year, from $123.23M to $168.48M.
What is the long-term trend for Keel Infrastructure's digital assets?
Over 2 years (2023 to 2025), Keel Infrastructure's digital assets has grown at a 130.4% compound annual growth rate (CAGR), from $33.97M to $180.29M.
What does digital assets mean?
Represents the total carrying value of cryptocurrency holdings owned by the company. This metric reflects the company's liquidity position in digital tokens and its exposure to cryptocurrency market price volatility.

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