Keo Capital Q2 TPV Surges 90% QoQ, Net Loss Widens

EarningsM&A · Partnership
โดย GuruFocus·SE·Read original
Summary · why it matters

Keo Capital AB reported a 90% quarter-over-quarter surge in total payment volume to $51.4 million for Q2 2026, while revenue rose 12% to $1.597 million. The company's average outstanding portfolio dipped to $45.6 million from $49.8 million, but active customers grew 16% to 61. Operating expenses jumped 60% to $2.549 million due to post-acquisition ramp-up, and the company posted a year-to-date net loss of $48.9 million, including $45.358 million in non-cash items. Management highlighted a major agreement with PDVSA extending the joint venture to 2056 and including associated gas, and plans to invest $90 million to $150 million over the next 10 months for field redevelopment. The company faces a $37.5 million payment to Novonor by year-end, with funding options still being explored.

Impact on stocks 1

Artificial Intelligence▲ · 1 stocks

Off-coverage companies 3

KEO Capital AB (publ)Private± Mixed
CapitalDemandrelevance

Q2 TPV surged 90% QoQ and revenue rose 12%, but opex jumped 60% and the YTD net loss widened to $48.9 million.

Petroleos de Venezuela, S.A. (PDVSA)Private▲ Positive
Demandrelevance

Major agreement with Keo Capital extends the PDVSA joint venture to 2056 and includes associated gas, expanding PDVSA's field development and gas activity.

NovonorPrivate▼ Negative
Capitalrelevance

Keo Capital faces a $37.5 million payment to Novonor by year-end with funding options still being explored, creating uncertainty over the receivable.

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