Joint Stock Company Kaspi.kz Q3 2025 Earnings Recap

KSPI Q3 2025 November 12, 2025

Kaspi.kz delivered solid growth in Q3 2025, with a 20% increase in top-line revenue year-over-year, despite challenges from supply chain issues in the smartphone sector.

Earnings Per Share Miss

$2.72 vs $4.31 est.

-36.9% surprise

Revenue Miss

2031984777 vs 2234176449 est.

-9.0% surprise

Market Reaction

1-Day +0.12%

5-Day -3.23%

30-Day +1.89%

Key Takeaways

Total Payment Volume (TPV) increased 18%, with fintech revenue growing 24% amid high demand across services.
Excluding smartphone supply disruptions, marketplace GMV growth was a robust 25%, indicating strong underlying demand.
The company is initiating a $100 million ADS buyback in November, reflecting confidence in cash generation and stock valuation.
Significant expansion in the e-grocery segment, with GMV and transactions up 53% and 55%, respectively, and plans to enter new cities next year.
Launch of innovative payment features like "pay by palm" and enhanced integration with third-party services like Glovo to strengthen its competitive position.

This summary was generated by AI from the official earnings call transcript and is provided for informational purposes only. It does not constitute financial advice. For the complete transcript and financial data, visit KSPI on AllInvestView.