Kaspi.kz (KSPI) 2025 Core Revenue Grows 19% Amid 18% Underlying Net Income Gain

Joint Stock Company Kaspi.kz (NASDAQ:KSPI) is 1 of the cheap caller stocks to bargain now. On March 2, Kaspi.kz reported full-year 2025 halfway gross maturation of 19%, totaling KZT 3.1 trillion (~$6.2 billion) and consolidated nett income maturation of 10%, reaching KZT 1.1 trillion (~$2.1 billion). This show landed astatine the little extremity of management’s guidance owed to persistent outer headwinds, similar a 24% diminution successful smartphone sales, precocious involvement rates, and regulatory taxation changes. However, the company’s CEO highlighted that underlying nett income, excluding these one-off factors, grew by 18%, showing the resilience of Kaspi.kz’s halfway concern model.

Management is rapidly integrating Hepsiburada successful Türkiye by applying the ‘Kaspi Playbook’ to displacement the absorption toward high-frequency engaged consumers, who grew 29% successful Q4. A important monetization accidental exists successful closing the spread betwixt the 25 yearly purchases per user seen successful Kazakhstan and the existent mean of ~7 successful Türkiye. To seizure this growth, 2026 guidance for the Turkish concern is acceptable astatine EBITDA breakeven, allowing for assertive reinvestment into logistics and personalization tools.

For 2026, Joint Stock Company Kaspi.kz (NASDAQ:KSPI) has issued consolidated guidance targeting ~20% maturation successful Gross Merchandise Value, Total Payment Volume, and Total Fintech Volume. The institution is besides scaling its ‘Kaspi Alaqan’ palm-pay technology, which has already reached 10% transaction penetration successful Almaty conscionable 90 days aft launch.

Joint Stock Company Kaspi.kz (NASDAQ:KSPI), unneurotic with its subsidiaries, provides payments, marketplace, and fintech solutions for consumers and merchants successful Kazakhstan, Azerbaijan, and Ukraine. It operates successful 3 segments: Payments, Marketplace, and Fintech.

While we admit the imaginable of KSPI arsenic an investment, we judge definite AI stocks connection greater upside imaginable and transportation little downside risk. If you’re looking for an highly undervalued AI banal that besides stands to payment importantly from Trump-era tariffs and the onshoring trend, spot our escaped study connected the best short-term AI stock.

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