Pulling SEC filings + quote and writing the call…
| Fiscal year | FY2023 | FY2024 | FY2025 |
|---|---|---|---|
| Revenue | $120M | $133M | $229M |
| Revenue growth | — | 10.7% | 72.0% |
| Gross profit | -$23.7M | -$15.9M | -$18.9M |
| Gross margin | -19.7% | -11.9% | -8.2% |
| Operating income | -$50.0M | -$28.0M | -$150M |
| Operating margin | -41.5% | -21.0% | -65.2% |
| Net income | -$55.5M | -$28.4M | -$285M |
| Net margin | -46.1% | -21.3% | -124.1% |
| EPS (diluted) | -$0.21 | -$0.07 | -$0.52 |
| Fiscal year | FY2023 | FY2024 | FY2025 |
|---|---|---|---|
| Operating cash flow | -$107M | -$142M | -$227M |
| Capital expenditures | $48.4M | $287M | $100M |
| Free cash flow | -$155M | -$429M | -$327M |
| Fiscal year | FY2023 | FY2024 | FY2025 |
|---|---|---|---|
| Cash & equivalents | $84.0M | $59.5M | $631M |
| Total assets | — | $663M | $1.30B |
| Total liabilities | — | $52.0M | $736M |
| Long-term debt | $4.02M | $1.43M | $572M |
| Shareholders' equity | $325M | $611M | $560M |
| Retained earnings | — | -$328M | -$612M |
| Shares (wtd avg diluted) | 262M | 415M | 552M |
Every figure is extracted from Keel Infrastructure Corp.’s annual reports as filed with the SEC (XBRL company facts) — no third-party estimates. Fiscal years are labeled by period end; filers occasionally re-tag concepts, so a sparse cell means the company didn’t report that concept for that year. Free cash flow = operating cash flow − capital expenditures.
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