ALMATY, Kazakhstan, Oct. 08, 2025 (GLOBE NEWSWIRE) -- Kaspi.kz (KSPI US) will report its financial results for the quarter and nine months ending September 30th, 2025, on Monday, 10th November, 2025. On that day, management will hold a conference call and webcast at 8.00am EST (1pm GMT, 6.00pm Astana time) to review and discuss the company's results for the period. 3rd Quarter & 9 months 2025 Financial Results Conference Call Monday, 10th November, 2025 To pre-register for this call, please go to the follo ...

Joint Stock Company Kaspi.kz (NASDAQ:KSPI) is one of the Most Promising New Technology Stocks to Buy According to Hedge Funds. On August 4, Joint Stock Company Kaspi.kz (NASDAQ:KSPI) released its fiscal second-quarter results for 2025. The company posted mixed results as revenue of $1.79 billion grew 41.41% and topped analyst expectations by $337.07 million. However, the EPS of $2.50 missed the Wall Street consensus by $0.11. Management noted that payment TPV and transactions grew 21% and 14% year-over-ye ...

Company Overview - Joint Stock Company Kaspi.kz is a leading financial technology company based in Kazakhstan, offering services such as payments, marketplace, and fintech solutions, and is recognized for its innovative integration of these services [1] Financial Performance - Kaspi.kz has a Return on Invested Capital (ROIC) of 41.90%, significantly higher than its Weighted Average Cost of Capital (WACC) of 4.59%, resulting in a ROIC to WACC ratio of 9.14, indicating high efficiency in generating returns from invested capital [2][6] - In comparison, Corpay, Inc. has a ROIC of 10.23% and a WACC of 7.12%, leading to a ROIC to WACC ratio of 1.44, showing less efficiency than Kaspi.kz [3] - Klaviyo, Inc. has a negative ROIC of -8.82% against a WACC of 10.11%, resulting in a negative ROIC to WACC ratio of -0.87, indicating inefficiency in capital utilization [3] - JSC Halyk Bank has a ROIC of 19.90% and a WACC of 22.38%, with a ROIC to WACC ratio of 0.89, showing returns below its cost of capital [4] - Evolution AB achieves a ROIC of 30.35% and a WACC of 8.35%, resulting in a ROIC to WACC ratio of 3.64, which is efficient but still lower than Kaspi.kz's performance [4] - Cellebrite DI Ltd. has a ROIC of 13.30% and a WACC of 17.95%, resulting in a ROIC to WACC ratio of 0.74, indicating insufficient returns relative to its cost of capital [5] Competitive Position - Overall, Kaspi.kz stands out among its peers with the highest ROIC to WACC ratio, showcasing its superior ability to utilize capital effectively and generate substantial returns [5][6]

Core Insights - The article expresses a positive outlook on Joint Stock Company Kaspi.kz (KSPI), highlighting its ability to generate income in Kazakhstan [1]. Company Analysis - The author has a long-standing interest in KSPI, indicating a favorable view based on the company's performance and potential [1]. - The investment philosophy focuses on identifying underappreciated companies that can return value to investors, suggesting that KSPI may fit this profile [1]. Investment Perspective - The author has a beneficial long position in KSPI shares, indicating confidence in the company's future performance [2]. - The analysis is based on extensive experience in investment research, particularly in value investing, which may provide a solid foundation for the insights shared [1].

Financial Data and Key Metrics Changes - Total Payment Volume (TPV) increased by 21%, revenue grew by 16%, and net income rose by 19% in Q2 2025 [4] - Marketplace GMV increased by 15%, revenue grew by 25%, and net income rose by 13% [5] - Fintech volumes increased by 17%, revenue grew by 21%, and net income rose by 8% [6] - Overall, the company reported strong financial performance despite high interest rates [4][6] Business Line Data and Key Metrics Changes - E-grocery GMV grew by 57% year over year, with transactions up by 63% [6] - Payment volumes remained robust, up 14% year on year in Q2 [26] - Marketplace demand was strong, with overall growth of 35% year on year in Q2 [29] - Travel GMV growth was 16% in Q2, supported by international tours [32] Market Data and Key Metrics Changes - Smartphone sales declined by 17% year on year in Q2, impacting GMV but not overall volumes [29] - Excluding smartphones, ecommerce growth was up 31% year on year [30] - Growth in beauty and personal care and clothing categories was 63% and 54% respectively [19] Company Strategy and Development Direction - The company is focusing on expanding its grocery business across major cities in Kazakhstan [7] - A new deposit product has shown extraordinary growth, with amounts up by 207% and customer numbers up by 263% [8] - The company is leveraging its payment network to partner with other financial institutions, enhancing transaction capabilities [10] - The strategy includes entering new verticals such as restaurants and domestic tours, aiming for high growth potential [22][23] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the company's ability to navigate high interest rates and emphasized the importance of customer engagement [6][9] - The company anticipates that interest rates will eventually decline, benefiting profitability in the fintech segment [38] - Management reiterated that the third quarter has started well and is in line with full-year guidance [42] Other Important Information - The company is on track to complete the acquisition of a banking license, which is expected to enhance its competitive position in Turkey [43][87] - The company plans to balance capital returns to shareholders with ongoing investments in growth opportunities [43][82] Q&A Session Summary Question: What product improvements are being worked on at Hepsie Berada? - The focus is on ensuring existing customers are satisfied with current services while introducing new products [46][47] Question: What are the growth opportunities in Kazakhstan? - The market remains underpenetrated, with specific verticals like clothing and grocery showing high growth rates [50][51] Question: What is the outlook for funding costs and asset quality? - Funding costs are expected to stabilize, and asset quality trends remain stable despite slight increases in NPL ratios [60][64] Question: How will capital deployment be balanced between investments and returns to shareholders? - The company aims to prioritize investments while also considering dividends and share buybacks in the future [82][86]

Financial Data and Key Metrics Changes - Total Payment Volume (TPV) increased by 21%, revenue grew by 16%, and net income rose by 19% in Q2 2025 [4] - Marketplace GMV increased by 15%, revenue grew by 25%, and net income rose by 13% [5] - Fintech volumes increased by 17%, revenue grew by 21%, and net income rose by 8% despite high interest rates [6] - Overall, the company reported strong financial performance with net income growth across all segments [4][6][26] Business Line Data and Key Metrics Changes - E-grocery GMV grew by 57% year-over-year, with transactions up by 63% [6] - Payment volumes remained robust, up 14% year-on-year in Q2 [26] - Marketplace demand was strong, with overall growth of 35% year-on-year in Q2 [29] - Travel GMV growth was 16% in Q2, supported by international tours [33] Market Data and Key Metrics Changes - The smartphone category saw a decline in sales by 17% year-on-year in Q2, impacting GMV but not overall transaction volumes [29][30] - Other verticals such as beauty and personal care grew by 63% and 54% respectively, indicating strong market demand outside of smartphones [18][78] Company Strategy and Development Direction - The company is focusing on expanding its e-grocery business and enhancing its payment infrastructure [7][10] - There is a strategic emphasis on vertical-specific growth, targeting underpenetrated markets such as clothing and travel [52][54] - The introduction of new services, such as domestic tours, aims to promote local tourism and enhance customer engagement [22][24] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the company's ability to navigate high interest rates and anticipated future growth as rates decline [9][82] - The company is optimistic about the recovery of smartphone demand and is implementing services to facilitate transactions [76][79] - Future profitability is expected to improve as the user base grows and interest rates stabilize [82] Other Important Information - The company reported a significant increase in deposits, with a growth of 207% in amounts and 263% in customer numbers for new deposit products [8] - The company is actively working on acquiring a banking license in Turkey, which is expected to enhance its competitive position [44][91] Q&A Session Summary Question: What product improvements are being worked on at Hepsie Berada? - Management highlighted the focus on ensuring existing customers are satisfied with current services and emphasized innovation in delivery and user experience [47][50] Question: How does the company view growth opportunities in Kazakhstan? - Management noted that the market remains underpenetrated, with specific verticals like clothing and travel showing significant growth potential [52][54] Question: What is the outlook for funding costs and asset quality? - Management indicated that funding costs are expected to stabilize, and asset quality remains stable with a slight uptick in NPL ratios [63][66] Question: What is the company's approach to capital deployment in the future? - Management stated that there will be a balance between investments and returning capital to shareholders, with a focus on maintaining a profitable core business [86][90] Question: How will the banking license impact competitive positioning? - Management believes that obtaining the banking license will allow for the introduction of innovative financial services, enhancing the company's market position [91][92]

Financial Performance - Kaspi.kz consolidated revenue increased by 61% YoY to KZT 967501 million in 2Q'25[133] - Kaspi.kz consolidated net income increased by 7% YoY to KZT 258629 million in 2Q'25[133] - The company reiterates its FY 2025 guidance, expecting around 15% net income growth, excluding Türkiye[111] Segment Performance - Payments platform revenue increased by 16% YoY to KZT 161216 million in 2Q'25, with net income up 19% YoY to KZT 105697 million[49, 135] - Marketplace platform revenue increased by 25% YoY to KZT 459088 million in 2Q'25, but net income increased 13% YoY to KZT 70477 million[69, 135] - Fintech platform revenue increased by 21% YoY to KZT 370717 million in 2Q'25, with net income up 8% YoY to KZT 82455 million[88, 135] Key Growth Drivers - E-Grocery GMV grew by 57% YoY in 2Q'25, surpassing 1 million consumers[11, 12] - Advertising revenue on Kaspi.kz increased by 91% YoY in 1H'25[26] - Kaspi Pay TPV from other banks and Alipay increased by 128% since launch[19] Hepsiburada (Türkiye) Performance - Hepsiburada's revenue increased by 23% in 2Q'25[98] - Hepsiburada's EBITDA increased by 42% in 2Q'25[98] - Hepsiburada's net income decreased 39% YoY in 2Q'25[100]

ALMATY, Kazakhstan, Aug. 04, 2025 (GLOBE NEWSWIRE) -- Joint Stock Company Kaspi.kz ("Kaspi.kz", "we") (Nasdaq:KSPI) which operates the Kaspi.kz and Kaspi Pay Super Apps in Kazakhstan and owns 66.35% of Hepsiburada in Türkiye, today published its unaudited consolidated IFRS financial results for the quarter and first half ended 30 June 2025 ("2Q & 1H 2025"). 2Q & 1H 2025 Highlights To the shareholders of Kaspi.kz: The second quarter marked our first full quarter owning Hepsiburada. The teams in Türkiye are c ...

Core Insights - Kaspi.kz will report its financial results for the quarter and half ending June 30, 2025, on August 4, 2025, with a conference call scheduled for 8.00am EST [1] - The company operates a unique two-sided Super App model, which includes Kaspi.kz Super App for consumers and Kaspi Pay Super App for merchants [3][4] - Kaspi.kz acquired a 65.41% stake in Hepsiburada, a leading e-commerce company in Türkiye, in January 2025 [5] Company Overview - Kaspi.kz aims to improve people's lives through innovative mobile products and services [3] - The Super Apps provide access to Payments, Marketplace, and Fintech Platforms, designed to meet everyday needs of users [4] - The company has a large, engaged consumer and merchant base, which contributes to strong top-line growth and a profitable business model [5] Academic Recognition - Harvard Business School has developed two case studies on Kaspi.kz, which are used in its MBA curriculum [6] - The company has been listed on Nasdaq since January 2024 [6]

Group 1 - The article initiates coverage on Kaspi (OTC:KSPI) with a strong buy rating due to its impressive past growth and potential for sustained performance [1] - The author has extensive experience in investment analysis, focusing on deep-discount value plays and underappreciated companies [1] - The analysis emphasizes the importance of returning value to investors as a key investment philosophy [1] Group 2 - The author holds a beneficial long position in KSPI shares, indicating confidence in the company's future performance [2] - The article is written independently, reflecting the author's personal opinions without external compensation [2] - There is no business relationship with any company mentioned, ensuring an unbiased perspective [2]