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Keel Infrastructure KEEL Merger related costs

Merger related costs at other companies

RFL
Rafael Holdings, Inc.RFL
$600K+2,300%
RBC Bearings logo
RBC BearingsRBC
$200K
Alto Ingredients, Inc. logo
Alto Ingredients, Inc.ALTO
-$115K-106%
KEE
Keel InfrastructureKEEL
$1.77M
RPC logo
RPCRES
$7.29M
NSA
NSANSA
$9.98M

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$2.34B+90.5%
Enterprise value$2.58B
P/S15.5×

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:BusinessCombinationAcquisitionRelatedCosts.

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

Total acquisition-related costs that were not directly attributable to the issuance of shares amounted to $7,081, of which $1,571 were incurred during the first quarter of 2025, and $5,510 were expensed during the year ended December 31, 2024. These amounts were included in general and administrative expenses in the unaudited condensed consolidated statements of operations.

Item 1. Financial Statements (Unaudited)

FAQ

What is Keel Infrastructure's merger related costs?
Keel Infrastructure (KEEL) reported merger related costs of $1.77M in Q4 2025.
What does merger related costs mean?
Direct costs incurred in connection with the acquisition of other businesses, including legal, advisory, and integration expenses. These costs are typically excluded from core operating performance metrics to highlight underlying business health.

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