Kaspi.kz JSC Sponsored ADR RegS (KSPI)
NASDAQ:KSPI
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Earnings Data
Report Date
Jul 27, 2026Before Open (Confirmed)
Period Ending
2026 (Q2)Consensus EPS Forecast
2.51Last Year’s EPS
2.52Same Quarter Last Year
Based on 1 Analysts Ratings
Earnings Call Summary
Earnings Call Sentiment|Positive
The call highlighted strong top‑line growth led by e‑commerce, expanding monetization from value‑added services, healthy fintech portfolio expansion, low early default metrics, a sizeable capital raise, and a meaningful dividend — signaling confidence in long‑term strategy. Offsetting these positives were margin and net income pressures from funding‑cost increases, take‑rate compression in payments, heavier investments and cash usage in Turkey (Hepsiburada integration), and a temporary decline in the TFE origination metric due to intentional product mix shifts. On balance the company communicated healthy growth momentum and strategic investments to drive future engagement and monetization, while acknowledging near‑term profit headwinds tied to funding costs and integration timing.Company Guidance
Strong Consolidated Top-Line Growth
Consolidated revenue grew 31% year-on-year in Q1 2026, while adjusted EBITDA increased 9% year-on-year, reflecting continued top-line momentum across the platform.
Robust E‑Commerce Performance
E‑commerce GMV rose 41% YoY (constant currency, pro forma); transactions increased 43% YoY; quarterly purchase frequency reached 15% (up 44% YoY). E‑commerce revenue grew 58% YoY and take rate expanded +90 bps to 15.8%.
Value‑Added Services Driving Monetization
Revenue from value‑added services (notably advertising and delivery) grew ~73% YoY, contributing to e‑commerce revenue outpacing GMV growth and higher overall take rates.
Marketplace Scale and Hepsiburada Integration
Marketplace GMV grew 19% YoY (constant currency, pro forma). Hepsiburada was consolidated for three months (versus ~2 months prior year), and Kazakhstan and Turkey now each contribute ~half of GMV; Hepsi's 3P is ~1/3 of its GMV.
Payments and Engagement Growth
Payments TPV grew 14% YoY. Interest revenue (excluded from EBITDA) made up ~25% of payments revenue and grew ~26% YoY. Payments remain strategically important for engagement and data.
Fintech Portfolio Expansion and Stable Yield
Average net loan portfolio increased 23% YoY; portfolio duration lengthened from 7 to 9.3 months as mix shifted to longer‑duration loans. Fintech revenue rose ~25% YoY and adjusted EBITDA grew ~12% YoY; fintech yield remained ~6% YoY.
Strong Credit Metrics
Early‑payment default rates were low (1st payment default 0.9%, 2nd payment default 0.4%); overall delinquency rate was 2.2%. Cost of risk was broadly stable at ~0.7% (10 bps increase YoY).
Capital Actions and Shareholder Returns
Board recommended a dividend of 850 per share (~64% payout ratio). Company raised $600M at a 5.9% interest rate for general corporate purposes. Tencent took a minority stake, described as primarily a financial/strategic investor.
Guidance Maintained
Full‑year guidance unchanged: GMV ~20%, TPV ~15%, TFE around 5% (management emphasized revenue growth priority), and target ~5% EBITDA growth for the year.
KSPI Earnings History
The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.
Beat
Missed
KSPI Earnings-Related Price Changes
Report Date | Price 1 Day Before | Price 1 Day After | Percentage Change |
|---|---|---|---|
Mar 02, 2026 | $69.12 | $76.38 | +10.50% |
Nov 10, 2025 | $69.81 | $72.12 | +3.31% |
Aug 04, 2025 | $74.57 | $84.86 | +13.80% |
May 12, 2025 | $88.23 | $81.47 | -7.67% |
Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.
FAQ
When does Kaspi.kz JSC Sponsored ADR RegS (KSPI) report earnings?
Kaspi.kz JSC Sponsored ADR RegS (KSPI) is schdueled to report earning on Jul 27, 2026, Before Open (Confirmed).
What is Kaspi.kz JSC Sponsored ADR RegS (KSPI) earnings time?
Kaspi.kz JSC Sponsored ADR RegS (KSPI) earnings time is at Jul 27, 2026, Before Open (Confirmed).
Where can I see when companies are reporting earnings?
You can see which companies are reporting today on our designated earnings calendar.
What companies are reporting earnings today?
You can see a list of the companies which are reporting today on TipRanks earnings calendar.
What is KSPI EPS forecast?
KSPI EPS forecast for the fiscal quarter 2026 (Q2) is 2.51.