Kyivstar Sees Robust Financial Results in Q4 2025 with Digital Services Surging 6x
Kyivstar Group, the Ukrainian telecommunications company, has reported robust financial results for the fourth quarter of 2025, with total revenue growing 28% year-over-year in U.S. dollars and digital services surging 6 times in quarterly dollar terms.
According to the company's Q4 2025 conference call transcript, Kyivstar's full-year revenue grew 26% in U.S. dollars or 30% in hryvnia, exceeding its outlook by roughly 4 percentage points. The company also generated healthy cash flow, delivering $558 million in net cash flow from operating activities for the year.
Notably, Kyivstar's digital services saw significant growth, with full-year digital revenue increasing 4.7 times in dollar terms and reaching nearly 16% of total revenue. The number of digital monthly active users also rose by roughly 42% year-over-year, surpassing 15 million.
The company's growing suite of services has expanded its role in customers' daily lives, with multi-play customers (those using voice, data, and at least one app) reaching 7.3 million in the fourth quarter or 35% of mobile customers. This lift engagement, strengthens customer retention, and drives revenue per user (RPU) higher.
Mobile RPU increased to $3.80 or UAH 161 by the end of Q4 2025, demonstrating a clear financial return on its ecosystem strategy. The company has also made solid progress on delivering strategic priorities, including the acquisition of Tabletki.ua, an online healthcare marketplace that facilitated UAH 1.2 billion in gross merchandise value over the last twelve months.
Expansion of Direct to Cell services reflects Kyivstar's dedication to playing a leading role in innovation and has expanded the initial pack service to all its 4G customers, with almost five million having already tried it out. The company's strategic priorities are clearly focused on digital growth, expanding its ecosystem, and driving RPU higher.
With these results, Kyivstar reaffirms its position as a leading telecommunications player in Ukraine and the region. Its commitment to innovation and expansion of services has paid off in terms of revenue and customer engagement, setting the stage for continued success in 2026 and beyond.
