Kestrel Group, Ltd. (KG) Income Statement
KG 2025 at a glance
Fiscal year ended December 31, 2025 · U.S. dollarsKG revenue and net income
Where KG's revenue goes
2025Each bar shows an amount and its share of revenue. KG kept 137.2% of revenue as net income.
KG profit margins
KG growth rates
to 2025| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Revenue | +785.1% | −16.3% | −28.8% | −32.6% |
| Gross profit | +1,256.0% | −24.5% | −33.1% | −33.3% |
| Operating income | +34,892.5% | — | −5.8% | −22.0% |
| Net income | — | — | +2.3% | −8.8% |
| EPS (diluted) | — | +141.3% | — | — |
1-year change and average annual growth (CAGR) over 3, 5 and 10 fiscal years. "—" when a starting value was zero or negative.
KG quarterly EPS vs estimates
Kestrel beat the analyst EPS estimate in 2 of the last 6 quarters. Next report: November 4, 2026.
KG income statement
| 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2009 | 2008 | 2007 | 2006 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $34.0M | $3.8M | $1.3M | $58.1M | $98.7M | $186.6M | $1.78B | $1.57B | $2.14B | $1.99B |
| Cost of revenue | $9.0M | $3.4M | $3.5M | $0 | $0 | $0 | $580.8M | $385.9M | $462.3M | $426.6M |
| Gross profit | $25.1M | $1.8M | −$2.2M | $58.1M | $98.7M | $186.6M | $1.20B | $1.18B | $1.67B | $1.56B |
| Research & development | — | — | — | — | — | — | $98.7M | $743.7M | $184.7M | $253.6M |
| Sales, general & admin | $29.1M | $5.1M | $2.0M | — | — | — | $640.5M | $595.6M | $840.5M | $812.4M |
| Total operating expenses | −$24.5M | $303,454 | $2.2M | — | — | — | — | — | — | — |
| Operating income | $49.6M | $141,762 | −$4.4M | −$49.3M | $30.6M | $66.9M | $341.7M | $435.4M | $667.4M | $611.7M |
| Interest income | — | $212,550 | $229,805 | — | — | — | — | — | — | — |
| Interest expense | $9.9M | $0 | — | $19.3M | $19.3M | $19.3M | $0 | $0 | $0 | $0 |
| Income before taxes | $49.6M | −$1.3M | −$4.2M | −$60.6M | $26.7M | $41.7M | $150.6M | — | $250.8M | $424.3M |
| Income taxes | $68,000 | $30,000 | — | −$557,000 | $15,000 | −$104,000 | $58.6M | $131.4M | $67.6M | $135.7M |
| Net income | $46.7M | −$1.3M | −$4.2M | −$60.4M | $25.6M | $41.8M | $92.0M | — | $183.0M | $288.9M |
| EBITDA | $59.6M | $141,762 | −$4.4M | −$41.1M | $38.2M | $55.9M | — | — | — | — |
| EPS (diluted) | $6.04 | −$1.68 | −$0.35 | $0.43 | $0.70 | −$0.09 | — | — | — | — |
| Gross margin | 73.6% | 48.0% | −165.1% | 100.0% | 100.0% | 100.0% | 67.3% | 75.3% | 78.4% | 78.5% |
| Operating margin | 145.7% | 3.7% | −334.2% | −84.8% | 30.9% | 35.8% | 19.2% | 27.8% | 31.2% | 30.8% |
| Net margin | 137.2% | −33.6% | −316.9% | −103.8% | 26.0% | 22.4% | 5.2% | — | 8.6% | 14.5% |
| Jun '26 | Mar '26 | Dec '25 | Sep '25 | Jun '25 | Mar '25 | Dec '24 | Sep '24 | Jun '24 | Mar '24 | Dec '23 | Sep '23 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $6.7M | $10.2M | $10.2M | $20.3M | $546,000 | $14.0M | $1.2M | $752,000 | $631,000 | $28.9M | $25.2M | $21.8M |
| Cost of revenue | $1.5M | $2.3M | $4.5M | $12.1M | −$5.6M | −$7.6M | $140.7M | $0 | $0 | $0 | $0 | $0 |
| Gross profit | $5.2M | $7.9M | $5.7M | $8.2M | $6.1M | $21.7M | $1.1M | $752,000 | $631,000 | $28.9M | $25.2M | $21.8M |
| Sales, general & admin | $22.7M | $11.7M | $12.1M | $10.8M | $5.1M | $1.1M | $2.7M | $1.2M | $1.2M | — | — | — |
| Total operating expenses | $13.4M | $14.9M | $22.1M | $12.2M | −$64.3M | $30.3M | −$139.5M | $1.2M | $1.2M | — | — | — |
| Operating income | −$8.2M | −$6.9M | −$16.4M | −$4.1M | $70.4M | −$8.6M | $92,000 | −$429,000 | −$547,000 | $3.6M | −$11.5M | −$5.5M |
| Interest income | — | $1.1M | — | $1.6M | $659,000 | $0 | $212,550 | $0 | $0 | — | — | — |
| Interest expense | $4.2M | $3.9M | $4.2M | $4.1M | $1.5M | $4.8M | $4.8M | $4.8M | $4.8M | $4.8M | $4.8M | $4.8M |
| Income before taxes | −$8.2M | −$6.9M | −$16.4M | −$4.1M | $70.4M | −$8.6M | $92,000 | −$429,000 | −$547,000 | $1.5M | −$20.3M | −$3.6M |
| Income taxes | −$112,000 | $6,000 | −$34,000 | $7,000 | $3,000 | $12,000 | $30,000 | $25,000 | −$582,961 | $11,000 | $449,000 | −$31,000 |
| Net income | −$8.1M | −$7.4M | −$17.8M | −$5.1M | $69.9M | −$8.6M | $62,000 | −$429,000 | −$547,000 | $1.4M | −$20.8M | −$3.5M |
| EBITDA | −$4.5M | −$3.0M | −$12.4M | $71,000 | $71.9M | −$9.9M | −$151.5M | −$429,000 | −$547,000 | $5.7M | −$16.4M | −$934,000 |
| EPS (diluted) | −$0.86 | −$1.34 | — | −$1.95 | — | −$1.80 | −$1.59 | $0.00 | −$0.10 | $0.01 | −$0.21 | −$0.03 |
| Gross margin | 77.0% | 77.9% | 55.5% | 40.3% | 1,119.6% | 154.3% | 92.5% | 100.0% | 100.0% | 100.0% | 100.0% | 100.0% |
| Operating margin | −122.0% | −68.2% | −161.0% | −20.0% | 12,898.4% | −61.4% | 7.5% | −57.0% | −86.7% | 12.5% | −45.7% | −25.4% |
| Net margin | −120.3% | −72.9% | −173.9% | −24.9% | 12,807.1% | −61.5% | 5.1% | −57.0% | −86.7% | 5.0% | −82.4% | −16.2% |
Quarterly columns are labeled by the month the quarter ended. Figures in U.S. dollars as reported in KG's financial statements (latest annual report filed March 13, 2026); data from EODHD. Sales, general & administrative expenses include sales and marketing.
KG financial results
In fiscal year 2025 (ended December 31, 2025), Kestrel reported revenue of $34.0 million, up 785.1% from the year before. It had net income of $46.7 million, a net profit margin of 137.2%. Diluted earnings per share came to $6.04. Over five years revenue grew at an average rate of −28.8% a year.
See the KG stock overview for the latest quote and news, or the KG chart for price history and technical indicators.
KG income statement FAQ
What is Kestrel's annual revenue?
Kestrel reported total revenue of $34.0 million for fiscal year 2025, which ended on December 31, 2025. That was up 785.1% from $3.8 million the previous year.
Is Kestrel profitable?
Yes. Kestrel reported net income of $46.7 million in fiscal 2025, a net profit margin of 137.2%; its operating margin was 145.7%.
What is Kestrel's gross margin?
Kestrel's gross margin was 73.6% in fiscal 2025: for every $100 of revenue, Kestrel kept $74 after the direct cost of its products and services.
How fast is Kestrel growing?
Revenue grew −28.8% a year on average over the last five fiscal years, from $186.6 million to $34.0 million.
What are Kestrel's earnings per share?
Kestrel earned $6.04 per diluted share in fiscal 2025, compared with $-1.68 a year earlier.
When will Kestrel report its next earnings?
Kestrel is expected to report results for the quarter ending September 30, 2026 on November 4, 2026.
When does Kestrel's fiscal year end?
Kestrel's fiscal year ends in December. The latest annual report covers the year ended December 31, 2025 and was filed on March 13, 2026.