The raised guidance and accelerating digital revenue mix signal improving business quality. Watch for continued execution on digital ecosystem expansion and any updates on the war's impact. The Capital Markets Day on Nov 16, 2026 could provide further strategic catalysts.
Price Chart
Executive Summary
Kyivstar reported strong Q2 2026 results with total revenue up 19.3% YoY to $339M, driven by 83% digital revenue growth and raised its full-year 2026 revenue and EBITDA guidance. Net profit declined 5.7% to $77M due to a $21.2M non-cash warrant loss, but core operating metrics remain robust with EBITDA up 13.7% and equity free cash flow up 32.2%.
Key Facts
- Total revenue $339M in Q2 2026, +19.3% YoY (USD), +27.0% in UAH
- Digital revenue $74M, +83.0% YoY, now 21.7% of total revenue
- EBITDA $188M, +13.7% YoY; EBITDA margin 55.4%
- Net profit $77M, -5.7% YoY (includes $21.2M non-cash warrant loss); EPS $0.33, -17.5% YoY
- Raised 2026 guidance: USD revenue growth 14%-16% (prior 11%-14%), EBITDA growth 9%-12% (prior 7%-10%)
- Cash and cash equivalents $364M; net debt $123M
- Mobile ARPU +11.2% YoY to $3.9; multiplay customers +23.6% YoY to 8.1M
Financial Impact
Revenue growth of $55M YoY in Q2, EBITDA growth of $23M, raised full-year guidance by ~3pp on revenue and ~2pp on EBITDA
Risk Factors
- Ongoing war in Ukraine could disrupt operations or demand
- Currency depreciation (UAH/USD) may pressure USD-reported results
- Non-cash warrant losses may continue to weigh on reported net income
Market Snapshot
Investment Themes
Documents Analyzed
This report is based on 6 SEC documents filed with EDGAR.
| Document | Accession Number |
|---|---|
| 6-K Filing (Primary) | 0001628280-26-051205 |
| Document: kgl-6xkcoverxq22026earnings.htm | 0001628280-26-051205 |
| Document: kgl2q26presentation.htm | 0001628280-26-051205 |
| Document: 0001628280-26-051205-index-headers.html | 0001628280-26-051205 |
| Document: 0001628280-26-051205-index.html | 0001628280-26-051205 |
| Document: 0001628280-26-051205.txt | 0001628280-26-051205 |
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
Oct 27, 2026 today | Press Release | $13.20 | awaiting T+1 | — | $13.20 (−0.00%) |
Sep 21, 2026 5w ago | EFFECT | $13.41 $13.04 | ▼ −2.76% | ▼ −2.74% | $13.20 (−1.57%) |
Sep 2, 2026 7w ago | Press Release | $13.59 | awaiting T+1 | — | $13.20 (−2.87%) |
Jul 31, 2026 12w ago | 6-K | $13.56 $13.68 | ▲ +0.89% | ▼ −0.54% | $13.20 (−2.65%) |
Jul 31, 2026 12w ago | 6-K | $13.56 $13.68 | ▲ +0.89% | ▼ −0.54% | $13.20 (−2.65%) |
Jul 31, 2026 12w ago | Press Release | $13.56 $13.68 | ▲ +0.89% | ▼ −0.54% | $13.20 (−2.65%) |
Jul 7, 2026 16w ago | Press Release | $15.67 $15.57 | ▼ −0.64% | ▼ −0.33% | $13.20 (−15.76%) |
Jun 5, 2026 20w ago | Press Release | $13.73 $13.60 | ▼ −0.95% | ▼ −1.17% | $13.20 (−3.86%) |
May 26, 2026 22w ago | Press Release | $14.51 $14.40 | ▼ −0.76% | ▼ −0.77% | $13.20 (−9.03%) |
May 13, 2026 23w ago | Press Release | $14.55 $13.71 | ▼ −5.77% | ▼ −6.55% | $13.20 (−9.28%) |
US Market Status
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