What is KEEL's gross margin?

KEEL (KEEL) reported gross margin of -7.9% in Q1 2025.

How has KEEL's gross margin changed year-over-year?

KEEL's gross margin increased by 55.2% year-over-year, from -17.6% to -7.9%.

What does gross margin mean?

Gross profit (revenue minus cost of revenue) as a percentage of revenue, on a trailing-twelve-month basis. Measures how much of each sales dollar survives the direct cost of producing the goods or services sold.

KEEL KEEL Gross margin

Gross margin at other companies

Cipher Digital, Inc. CIFR

60%+1.0pp

TeraWulfWULF

64%+19.1pp

Core Scientific, Inc.CORZ

16.9%+4.3pp

Hut 8 Mining Corp.HUT

59.7%+17.9pp

Applied DigitalAPLD

34.4%+5.9pp

CleanSparkCLSK

55.2%-1.1pp

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$3.8B—

Enterprise value$4.03B—

P/S25.1×—

Profitability

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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

Calculated from KEEL’s reported figures.

gross profit/total revenue=-7.9%

Based on trailing twelve months.

The official record: KEEL’s 10-Q, filed May 11, 2026, on SEC EDGAR. View the filing →

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Questions, answered.

What is KEEL's gross margin?: KEEL (KEEL) reported gross margin of -7.9% in Q1 2025.
How has KEEL's gross margin changed year-over-year?: KEEL's gross margin increased by 55.2% year-over-year, from -17.6% to -7.9%.
What does gross margin mean?: Gross profit (revenue minus cost of revenue) as a percentage of revenue, on a trailing-twelve-month basis. Measures how much of each sales dollar survives the direct cost of producing the goods or services sold.