Keel Infrastructure Corp.
Financial highlights
| Metric | FY 12/31/25 | FY 12/31/24 | FY 12/31/23 | FY 12/31/22 |
|---|---|---|---|---|
| Income Statement | ||||
| Revenue | $229.3M | $5.4M | $120.4M | — |
| Operating income | -$149.6M | -$28.0M | -$50.0M | — |
| Interest expense | $8.6M | $745,000 | $2.9M | — |
| Pretax income | -$208.4M | -$7.0M | -$40.1M | — |
| Income tax expense | $101,000 | $346,000 | -$154,000 | — |
| Net income | -$284.5M | -$28.4M | -$55.5M | — |
| Balance Sheet | ||||
| Current assets | $826.5M | $213.7M | — | — |
| Total assets | $1.3B | $663.1M | — | — |
| Current liabilities | $148.1M | $28.2M | — | — |
| Total liabilities | $736.0M | $52.0M | — | — |
| Stockholders' equity | $560.4M | $611.1M | $325.4M | $246.5M |
| Cash Flow Statement | ||||
| Cash from operations | -$226.6M | -$141.7M | -$106.9M | — |
| Depreciation and amortization | $122.6M | $135.4M | $84.3M | — |
| Stock-based compensation | $15.0M | $12.7M | $10.9M | — |
| Capital expenditure | $100.3M | $286.9M | $48.4M | — |
| Free cash flow | -$326.9M | -$428.6M | -$155.3M | — |
| Share repurchases | $10.0M | — | — | — |
| Impairments | $18.5M | — | $5.1M | — |
Shares outstanding 603.8M · Free float 95.5%
Annual filing data through FY ended December 31, 2025; float as of July 15, 2026.