Keel (KEEL) Reports Q4 2025 Earnings with Revenue Growth but Continued Operating Loss
Keel reported a revenue increase of $229 million, up 72% year-over-year from its North American operations. However, the company posted an operating loss of $150 million and a net loss of $209 million for Q4 2025. The firm raised $588 million through a convertible offering to retire debt and fund development projects.
Topics: capital_allocation debt_repayment ebitda liquidity net_loss operating_loss revenue