Keel Infrastructure (KEEL) Cost of Revenue (2020 - 2026)
Keel Infrastructure's Cost of Revenue was $117.18 million in Q2 2026, up 80.9% from $64.79 million a year earlier and up 85.1% from the prior quarter.
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Analysis
Keel Infrastructure (KEEL) Cost of Revenue (2020 - 2026) Analysis & Trends
On a trailing twelve-month basis, Keel Infrastructure's Cost of Revenue was $316.49 million through Jun 30, 2026, up 58.3% year-over-year; for FY2025, it was $248.18 million, up 66.4% from FY2024.
- Cost of Revenue has now increased for five consecutive years, with a five-year compound annual growth rate of 50.8% (FY2020 to FY2025).
- In earlier years, Cost of Revenue was $149.19 million in FY2024 (+3.5%), $144.14 million in FY2023 (+9.3%), $131.91 million in FY2022 (+126.0%) and $58.37 million in FY2021 (+83.4%).
- The Q2 2026 figure marks the highest quarterly Cost of Revenue in data going back to Q2 2020.
- Compared with a year earlier, Cost of Revenue was higher in five of the last six quarters, with growth averaging 44.2%.
- The best year-over-year quarter for Cost of Revenue over five years was Q1 2022 (growth of 155.4%); the worst was Q3 2024 (a decline of 36.6%).
- Per Business Quant data, KEEL's Cost of Revenue in the three quarters before Q2 2026 was $63.3 million (Q1 2026), $65.79 million (Q4 2025) and $70.22 million (Q3 2025).
Peer Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Cost of Rev (Qtr) |
|---|---|---|---|---|---|
| 1 | PayPal Holdings | 49.15 Bn | 7.38 Bn | - | - |
| 2 | Block | 45.94 Bn | 17.20 Bn | 3.17 Bn | 3.45 Bn |
| 3 | Coinbase Global | 43.38 Bn | 184.17 Mn | - | - |
| 4 | Corpay | 26.82 Bn | 17.02 Bn | - | - |
| 5 | Fiserv | 26.51 Bn | 23.21 Bn | 2.90 Bn | 2.40 Bn |
| 6 | Global Payments | 22.01 Bn | 453.00 Mn | 2.03 Bn | 1.29 Bn |
| 7 | Iren | 18.95 Bn | 6.55 Bn | 103.89 Mn | 33.34 Mn |
| 8 | Guidewire Software | 15.50 Bn | 12.06 Bn | 269.68 Mn | 141.41 Mn |
| 9 | Bitmine Immersion Technologies | 12.97 Bn | 10.35 Bn | 40.81 Mn | 5.73 Mn |
| 10 | Keel Infrastructure | 1.34 Bn | 1.34 Bn | -86.75 Mn | 117.18 Mn |
Historic Data
Download Data
Historic Data
| Date | Value |
|---|---|
| Jun 30, 2026 | 117.18 Mn |
| Mar 31, 2026 | 63.30 Mn |
| Dec 31, 2025 | 65.79 Mn |
| Sep 30, 2025 | 70.22 Mn |
| Jun 30, 2025 | 64.79 Mn |
| Mar 31, 2025 | 47.38 Mn |
| Dec 31, 2024 | 54.78 Mn |
| Sep 30, 2024 | 27.57 Mn |
| Jun 30, 2024 | 51.11 Mn |
| Mar 31, 2024 | 61.00 Mn |
| Dec 31, 2023 | 44.48 Mn |
| Sep 30, 2023 | 43.46 Mn |
| Jun 30, 2023 | 41.52 Mn |
| Mar 31, 2023 | 38.40 Mn |
| Dec 31, 2022 | 39.12 Mn |
| Sep 30, 2022 | 37.19 Mn |
| Jun 30, 2022 | 32.31 Mn |
| Mar 31, 2022 | 23.29 Mn |
| Dec 31, 2021 | 20.61 Mn |
| Sep 30, 2021 | 15.31 Mn |
API Access
Keel Infrastructure Cost of Revenue API
Pull this series into your own models, spreadsheets and apps with the Business Quant
Historical Metrics API. The request below matches the chart above — change the
frequency, period or values and it follows. Swap YOUR_API_KEY for your own key.
https://data.businessquant.com/historic?slug=cost-of-revenue&ticker=KEEL&period=max&api_key=YOUR_API_KEYimport requests
url = "https://data.businessquant.com/historic"
params = {"slug": "cost-of-revenue", "ticker": "KEEL", "period": "max", "api_key": "YOUR_API_KEY"}
data = requests.get(url, params=params).json()const res = await fetch("https://data.businessquant.com/historic?slug=cost-of-revenue&ticker=KEEL&period=max&api_key=YOUR_API_KEY");
const data = await res.json();