company KSPI - SteadyBase

steadybase-$ company KSPI

account_id none on file

legal_name Joint Stock Co Kaspi.kz

ticker KSPI

cik 1985487

domain kaspi.kz

linkedin_company_url https://www.linkedin.com/company/kaspi-kz/

entry_point_account_id none on file

name Kaspi.kz

exchange Nasdaq

calls 3 filings 14 executives 10 family 0

why_nownone on file

calls

M-commerce take rate strong and consistent, 9.4% in the fourth quarter, 9.2% up slightly for the full year. Clearly, the growth driver of marketplace is e-commerce, though. That's pretty clear. And then on Caspi Travel, this is also now a more relatively, at least more mature business within Marketplace, 6% GMV growth in the fourth quarter, 14% GMV growth for the full year, with some take rate expansion. But again, I mean, I think the point is pretty clear. The main driver now of the Marketplace business is the core e-commerce franchise and the value-added services sector. around that advertising delivery and financing for both the merchant and the consumer.

Mar 2, 2026 / receipt, needs a key / David Ferguson, other | earnings call 2026-03-02 | transcript 41b6f797-5f14-4601-9c50-814854b3e03c | chars 20128-20794 | segment 20

Yes, I mean, you will see marketplace growth moderate in the fourth quarter. So remember, marketplace is not just e-commerce, it's e-commerce, e-commerce and travel. But yeah, you will see that that happens, number one. And number two, I would say, on the smartphone issue, well, particularly at this time of year, it's high-end smartphones it's particularly the likes of an iphone 17 so it's not just that but um that that sort of this is when the latest models are released and if you think about it if a smartphone is 1500 um that's a lot of missed gmv but it's a lot of gain gmv when it comes back and a a lot of missed revenue versus uh an average ticket size on marketplace and on e-commerce that's materially um below below that so they would be my comments i don't know if michelle wants to add anything about the the market as a whole yes well i think that the Well, the GMV growth is a combination of also the value of items which are sold.

Nov 10, 2025 / receipt, needs a key / David, CEO | earnings call 2025-11-10 | transcript 1f8ad9a5-b427-413e-b099-beac68f5318c | chars 49254-50204 | segment 49

Marketplace, even higher potential, really, and the growth. And you can see each cohort also demonstrates a very strong growth. Again, 54% of consumers are actually from the last five years. But also, you know, every sort of cohort, you know, the consumers are shopping more. And this is really is a result of us either entering the new verticals and on the e-commerce side, you know, or adding more products, items to buy, but also going into new businesses like, you know, we constantly... launch something new, right? E-grocery is a good example, travel, tours is another example, cars and so on and so forth. So, you know, marketplace will grow both as more consumers will use it, more merchants will connect, assortment will increase, but also the new services which we are constantly launching.

Feb 24, 2025 / receipt, needs a key / Mikhail, CEO | earnings call 2025-02-24 | transcript 100a9d01-b99f-4246-ac3e-af32053174f6 | chars 8135-8935 | segment 8

filings

Based on this evaluation, the Chief Executive Officer and Chief Financial Officer have concluded that our disclosure controls and procedures were effective as of December 31, 2025.