KeyStar Corp (KEYR) Q4 2024 Earnings Report

KeyStar Corp’s Q4 2024 results depict a pronounced top-line and earnings deterioration alongside a structurally fragile balance sheet. Revenue for the quarter registered at -$81,778, reflecting a year-over-year decline of 122.29% and a quarter-over-quarter gain of 56.45% on a negative base, underscoring ongoing revenue volatility in a niche Consumer Cyclical/ specialty retail model. Gross profit totaled -$310,194 with a gross margin of 3.79%, indicating that the business is not yet scaling profitability even as topline trends show some stabilization relative to prior periods. Operating income came in at -$2.38 million, while net income was -$12.72 million for the quarter, resulting in an EPS of -$0.21. EBITDA was deeply negative at -$16.58 million, signaling heavy operating losses and significant non-cash and cash cost drag.

From a balance-sheet perspective, KeyStar’s liquidity position is severely constrained. Total assets were $9.35 million against total liabilities of $22.54 million, driving a negative stockholders’ equity of -$13.19 million. Current ratios deteriorate to 0.0565, with cash and cash equivalents at $0.452 million and cash burn primarily evident in operating activities (-$2.36 million) and free cash flow (-$2.48 million). Net debt sits at approximately $8.95 million on a capital structure with minimal liquidity and a high reliance on financing activity to support operations. These dynamics imply an elevated risk profile and material need for balance-sheet repair or strategic repositioning.

In the absence of explicit management guidance in the dataset, the outlook hinges on the company’s ability to stabilize or grow revenue, reduce operating burden, and secure external funding. The current quarter’s results, along with the levered balance sheet and weak liquidity, suggest that any near-term upside would require meaningful financing events or a strategic pivot toward higher-margin, more cash-efficient activities within its ecommerce and convention-services platform.