Q2 2026 Keo Capital AB Earnings Call Transcript
Key Points
- Total payment volume (TPV) grew 90% quarter-over-quarter and nearly 40% year-over-year, reaching $51.4 million in Q2 2026.
- Average active customers increased 16% during the quarter, ending June with 61 active customers.
- Revenue grew 12% quarter-over-quarter and 16% year-over-year, reaching $1.597 million in Q2 2026.
- The company successfully launched operations in Canada and expects to launch in Brazil during Q3 2026, expanding its geographic footprint.
- In the energy segment, Keo Capital AB (FRA:7M7) signed a major operational agreement with PDVSA, extending the JV to 2056 and including associated gas in the contract, which was previously excluded.
- The average outstanding portfolio declined from $49.8 million in Q1 to $45.6 million in Q2, indicating a temporary setback in portfolio growth.
- Operating expenses surged 60% quarter-over-quarter to $2.549 million, reflecting higher costs from post-acquisition ramp-up and increased payment volumes.
- The company reported a significant year-to-date net loss of $48.9 million, largely due to non-cash stock-based compensation and co-investor share issuance.
- The company faces a $37.5 million payment obligation to Novonor by year-end for the additional 24% stake in Petro Danta, raising concerns about potential future capital raises.
- The FinTech business is not yet profitable, with management indicating a portfolio size of around $120 million is needed to achieve sustainable break-even, a target that remains distant.
Hey, okay, welcome now to Investor Studios Catast Reporter, IDAMI, KEO Capital. KEO Capital come now present here in DLOS report.
So it's a great pleasure to welcome back Roberto Marchioro, Chief Operating Officer, and a warm welcome to Pablo Ribas, Chief Executive Officer, I should say, Miles Molyneux, CFO, and David Tomasino, CEO for Kio Energy. Hello, boys. Nice to see you. Roberto, it's been yet another very busy quarter, so please take it away.
Thank you. Thank you very much. Good morning, everyone, and thank you for joining us. Welcome to QCAP AB's second quarter of 2026 early presentation. Today we walk through our Zooms of the quarter and we will leave a time for a quick session in the end.
So before we get into the numbers, let me introduce today the presenters and take a moment also to welcome our new management team to the company.
I'm Roberto Marchioi, the COO of Q Capital AD. We have Pablo
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