Joint Stock Company Kaspi.kz · KSPI · Next earnings

Joint Stock Company Kaspi.kz next earnings report

KSPI's next report date is not on the calendar yet. Here is where the last quarter left off and what remains open. Last quarter: Kaspi.kz Lowers GMV Outlook as AI and Grocery Expand

Date not yet scheduled Technology

What the street expects

Consensus for the coming report
Consensus EPS $1510.41 Analyst average (1 estimates)
Consensus revenue $1210.21B Analyst average (2 estimates)
Report date TBD Not yet on the calendar
Session — Session not yet known

Where KSPI left off: FY2026 Q3

Full report

Kaspi.kz Lowers GMV Outlook as AI and Grocery Expand

EPS surprise +0.6% Reported $3.39 vs $3.37
Revenue surprise -7.9% Reported $2.53B vs $2.75B
Stock move -2.4% Event window
Subsequent drift 0.0% Up to 20 sessions
Check the math in the surprise calculator >

Full-year GMV outlook was reduced to approximately 12%, which management attributed to strong KZT appreciation and lower ticket size. The analysis also reports management expects Türkiye capital expenditure to decrease significantly next year; no further quantified guidance was supplied.

What to watch on the call

Carried forward from the last transcript

Risks management flagged

  • Currency volatility and weaker ticket sizes may weigh on reported marketplace growth.
  • Elevated funding costs may continue to pressure profitability while deposit-rate changes work through.
  • Scaling partner-store grocery operations and the Hepsiburada partnership may not deliver expected economics.

Questions analysts left open

  • How quickly and by how much funding costs can decline.
  • The difference between e-commerce and overall marketplace take rates.
  • The economics and scalability of partner-store grocery and progress toward profitability in the Hepsiburada partnership.

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Recent KSPI quarters

All KSPI earnings
-2.4%FY2026 Q3+4.1%FY2026 Q2-0.1%FY2026 Q1+10.5%FY2025 Q4

Sources

  1. FN2 corporate events calendar, resolved from the earnings calendar feed
  2. FN2 earnings calendar analyst consensus
  3. Earnings call transcript analysis, FY2026 Q3

Methodology

The report date comes from FN2's resolved corporate-events calendar and is marked estimated until the company confirms it. Consensus figures are the calendar's latest analyst estimates for the fiscal period and are not an FN2 forecast.

Risks and open questions are carried forward verbatim from FN2's structured analysis of the previous earnings call. Missing values stay missing and are never estimated.

By FN2 Research · Updated . For educational purposes only; not investment advice.