Keo Capital (KEOC) Q2 2026 earnings summary

Executive summary

• Completed major business combination, integrating KEO World and Maha Capital, and rebranding to KEO Capital, with new leadership and operational expansion in fintech and energy segments.

• Initiated separation of fintech and energy divisions, each with independent operations and leadership, and strengthened management team for dual Nasdaq listing.

• Launched Workeo Canada, renewed key partnerships, and prepared for Workeo Brazil launch.

• Secured MCAD 50 (~MUSD 35) revolving facility for Workeo Canada and renewed key licensing agreements.

Financial highlights

• Q2 2026 revenue reached $1.6 million, up 12% quarter-over-quarter and 16% year-over-year, with total payment volume (TPV) of $51.4 million, up 19% QoQ and 39% YoY.

• Average take rate for Q2 was 3.1%.

• Pro forma revenue for 1H 2026 was $3 million; last 12 months revenue was around $5 million.

• Net loss YTD was $48.9 million, mainly due to non-cash stock-based compensation and share-settled expenses.

• Ended the period with $123.5 million in cash and credits, net cash position of $108.5 million.

Outlook and guidance

• Focus on scaling credit portfolio, onboarding new clients, and executing growth strategies in fintech and energy.

• Workeo Brazil launch expected in Q3 2026, with ramp-up into Q4 and Q1 2027; further international rollout planned.

• Plans to spin off the energy business and pursue US listings for both fintech and energy segments.

• Reserve reports for energy segment expected: crude report in 2–3 weeks, gas report by year-end.