Keel Infrastructure (KEEL) Gross Margin (2020 - 2026)
Keel Infrastructure (KEEL) recorded Gross Margin of -285.09% in Q2 2026, down 278.71 percentage points from -6.38% a year earlier and down 213.98 percentage points from the prior quarter.
Powered by 
Analysis
Keel Infrastructure (KEEL) Gross Margin (2020 - 2026) Analysis & Trends
On a TTM basis, Keel Infrastructure's Gross Margin came in at -68.22% as of Jun 30, 2026, down 73.68 percentage points year-over-year; for FY2025, it came in at -8.25%, up 3.69 percentage points from FY2024.
- Annual Gross Margin has a five-year change of -16.52 percentage points (FY2020 to FY2025).
- Across earlier years, Gross Margin came in at -11.94% in FY2024 (+7.78 pp), -19.72% in FY2023 (-27.10 pp), 7.38% in FY2022 (-58.18 pp) and 65.56% in FY2021 (+57.28 pp).
- The Q2 2026 figure is the lowest quarterly Gross Margin in data going back to Q2 2020.
- On a year-over-year basis, Gross Margin rose in two of the last six quarters, with an average year-over-year change of -52.57 percentage points.
- Peak year-over-year performance for Gross Margin in the last five years was a gain of 81.00 percentage points in Q3 2021, against a drop of 278.71 percentage points in Q2 2026 at the low end.
- Per Business Quant, the preceding three quarters came in at -71.11% (Q1 2026), -24.73% (Q4 2025) and -3.31% (Q3 2025).
Peer Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Gross Margin (Qtr) |
|---|---|---|---|---|---|
| 1 | PayPal Holdings | 49.49 Bn | 7.72 Bn | - | - |
| 2 | Block | 46.34 Bn | 17.64 Bn | 3.17 Bn | 47.84% |
| 3 | Coinbase Global | 44.39 Bn | 1.20 Bn | - | - |
| 4 | Corpay | 26.40 Bn | 16.28 Bn | - | - |
| 5 | Fiserv | 25.40 Bn | 22.08 Bn | 2.90 Bn | 54.74% |
| 6 | Global Payments | 22.86 Bn | 652.84 Mn | 2.03 Bn | 61.04% |
| 7 | Guidewire Software | 14.45 Bn | 11.02 Bn | 269.68 Mn | 65.60% |
| 8 | Bitmine Immersion Technologies | 11.93 Bn | 9.31 Bn | 40.81 Mn | 87.70% |
| 9 | Chime Financial | 11.25 Bn | 7.04 Bn | 594.87 Mn | 88.82% |
| 10 | Keel Infrastructure | 1.43 Bn | 1.43 Bn | -86.75 Mn | -285.09% |
Historic Data
Download Data
Historic Data
| Date | Value |
|---|---|
| Jun 30, 2026 | -285.09% |
| Mar 31, 2026 | -71.11% |
| Dec 31, 2025 | -24.73% |
| Sep 30, 2025 | -3.31% |
| Jun 30, 2025 | -6.38% |
| Mar 31, 2025 | 0.58% |
| Dec 31, 2024 | 45.91% |
| Sep 30, 2024 | -1.82% |
| Jun 30, 2024 | -23.01% |
| Mar 31, 2024 | 62.29% |
| Dec 31, 2023 | 55.05% |
| Sep 30, 2023 | 41.99% |
| Jun 30, 2023 | 46.10% |
| Mar 31, 2023 | 40.02% |
| Dec 31, 2022 | -44.69% |
| Sep 30, 2022 | -11.85% |
| Jun 30, 2022 | 22.73% |
| Mar 31, 2022 | 42.25% |
| Dec 31, 2021 | 82.31% |
| Sep 30, 2021 | 65.81% |
API Access
Keel Infrastructure Gross Margin 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=gross-margin&ticker=KEEL&period=max&api_key=YOUR_API_KEYimport requests
url = "https://data.businessquant.com/historic"
params = {"slug": "gross-margin", "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=gross-margin&ticker=KEEL&period=max&api_key=YOUR_API_KEY");
const data = await res.json();