Keysight Technologies, Inc.: Q1 FY2026 earnings call

What management said about Q1 FY2026, from the documents filed with the SEC on 23 February 2026: press release. Guidance figures: 4 new. The quarter’s numbers.

Key takeaways

Revenue rose 23 percent: Revenue reached $1.60 billion against $1.30 billion a year earlier, an increase of 23 percent across both reporting segments. Source
Non-GAAP earnings per share reached $2.17: Non-GAAP net income was $376 million, or $2.17 per share, against $317 million, or $1.82 per share a year earlier. Source
CSG revenue up 27 percent: Communications Solutions Group revenue was $1,124 million, up 27 percent, with commercial communications up 33 percent and aerospace, defense and government up 18 percent. Source
EISG revenue up 15 percent: Electronic Industrial Solutions Group revenue was $476 million, up 15 percent, with double-digit growth in automotive and energy, general electronics and semiconductor. Source
Orders above revenue: Orders were $1,645 million against $1,263 million a year earlier, and revenue was $1,600 million in the quarter. Source
Free cash flow rose to $407 million: Operating cash flow was $441 million against $378 million; capital expenditure was $34 million, giving free cash flow of $407 million against $346 million. Source

“Keysight had a strong start to the fiscal year with outstanding results that exceeded our expectations”
Satish Dhanasekaran, President and CEO

Guidance

Area	Period	Figure	Against last quarter
Revenue Source	Second quarter of fiscal 2026	$1.690 billion to $1.710 billion	New
Revenue growth Source	Second quarter of fiscal 2026	approximately 30% at the mid-point	New
Non-GAAP diluted EPS Source	Second quarter of fiscal 2026	$2.27 to $2.33	New
Diluted share count Source	Second quarter of fiscal 2026	approximately 173 million shares	New

What changed from last quarter

New guidance: Second-quarter revenue range provided. Source
New guidance: Second-quarter non-GAAP EPS range provided. Source
Ended: First-quarter revenue range from the prior release has closed, and first-quarter results are now reported.

Results and growth drivers

Revenue rose 23 percent: Revenue reached $1.60 billion against $1.30 billion a year earlier, an increase of 23 percent across both reporting segments. Source
GAAP earnings per share rose: GAAP net income was $281 million, or $1.63 diluted per share, against $169 million, or $0.97 per share, a year earlier. Source
Non-GAAP earnings per share reached $2.17: Non-GAAP net income was $376 million, or $2.17 per share, against $317 million, or $1.82 per share a year earlier. Source

Segments and end markets

CSG revenue up 27 percent: Communications Solutions Group revenue was $1,124 million, up 27 percent, with commercial communications up 33 percent and aerospace, defense and government up 18 percent. Source
CSG operating income increased: CSG income from operations was $309 million against $240 million, with gross margin at 68 percent and operating margin at 27 percent in both periods. Source
EISG revenue up 15 percent: Electronic Industrial Solutions Group revenue was $476 million, up 15 percent, with double-digit growth in automotive and energy, general electronics and semiconductor. Source
EISG gross margin rose: EISG gross margin was 62 percent against 61 percent; income from operations was $130 million against $114 million, with operating margin at 27 percent in both periods. Source

“The investments we have made over the last 3 years are enabling us to capitalize on continued momentum in our markets and deliver value.”
Satish Dhanasekaran, President and CEO

Costs, margins and profit

Cost lines rose with revenue: Cost of products and services was $605 million against $478 million; research and development $303 million against $249 million; SG&A $447 million against $361 million. Source
Operating income rose to $248 million: Income from operations was $248 million against $218 million. Other income (expense), net was negative $37 million against negative $18 million. Source
Tax line was a benefit: The company reported a tax benefit of $83 million against a $30 million provision a year earlier, and GAAP net income was $281 million. Source
Non-GAAP adjustments rose: Acquisition-related amortization was $73 million against $33 million, share-based compensation $77 million against $62 million, and restructuring and others $60 million. Source
Non-GAAP tax rate held at 14 percent: Management used a non-GAAP effective tax rate of 14 percent for both periods in the non-GAAP reconciliation. Source

Orders and deferred revenue

Orders above revenue: Orders were $1,645 million against $1,263 million a year earlier, and revenue was $1,600 million in the quarter. Source
Current deferred revenue increased: Deferred revenue was $729 million at January 31, 2026, against $652 million at October 31, 2025. Source
Long-term deferred revenue edged up: Long-term deferred revenue was $237 million at January 31, 2026, against $232 million at October 31, 2025. Source

Cash flow and balance sheet

Free cash flow rose to $407 million: Operating cash flow was $441 million against $378 million; capital expenditure was $34 million, giving free cash flow of $407 million against $346 million. Source
Cash balance rose: Cash and cash equivalents were $2,178 million at January 31, 2026, against $1,873 million at October 31, 2025. Source
Acquisition payment was small: Payment of acquisition-related consideration was $13 million in financing activities during the quarter. Source
Long-term debt unchanged: Long-term debt was $2,534 million at January 31, 2026, the same as at October 31, 2025. Source

Shareholder returns and share count

Buybacks reached $87 million: Treasury stock repurchases, including excise tax payments, were $87 million against $75 million in the prior-year quarter. Source
Treasury shares rose to 31.2 million: Treasury stock stood at 31.2 million shares at January 31, 2026, against 30.8 million at October 31, 2025, at a cost of $3,886 million. Source
Diluted share count eased: Weighted average diluted shares were 173 million in the quarter, against 174 million a year earlier. Source
Employee plan proceeds and tax payments: Proceeds from employee stock plans were $32 million, and taxes paid on net share settlement of equity awards were $31 million. Source

Non-GAAP measures and definitions

Free cash flow defined: The company defines free cash flow as cash provided by operating activities adjusted for net investments in property, plant and equipment. Source
Excluded items treated as actual expenses: Management says the excluded costs are actual expenses that may affect the cash available to the company for other uses. Source
Reconciliations in supplemental schedules: Reconciliations of each non-GAAP measure to its closest GAAP measure are given in the attached supplemental schedules for the quarter. Source

Figures management reported

Figure	Reported
Orders Source	$1,645 million (prior year $1,263 million)
Commercial Communications revenue Source	$758 million (prior year $572 million)
Aerospace, Defense and Government revenue Source	$366 million (prior year $311 million)

Risks management discussed

External: Second-quarter expectations exclude possible effects of the February 20, 2026 Supreme Court ruling on IEEPA tariffs and later administration actions. Source
Financial: No GAAP diluted EPS reconciliation is given for the second quarter because tax items are not currently estimable. Source

Other quarters

Summarised with AI from the documents the company filed with the SEC. Every point is checked against the filing before it is shown: management’s own words word for word, figures against the line or table row they come from. A point that fails the check is left out. Source opens the filing at that line.

As filed with the SEC

Open the filing on EDGAR

Keysight Technologies Reports First Quarter 2026 Results

Achieved record revenue with double-digit growth across business segments

SANTA ROSA, Calif., February 23, 2026 - Keysight Technologies, Inc. (NYSE: KEYS) today reported financial results for the first fiscal quarter ended January 31, 2026.

“Keysight had a strong start to the fiscal year with outstanding results that exceeded our expectations,” said Satish Dhanasekaran, Keysight’s President and CEO. “The investments we have made over the last 3 years are enabling us to capitalize on continued momentum in our markets and deliver value.”

First Quarter Financial Summary

Revenue was $1.60 billion, compared with $1.30 billion in the first quarter of 2025.
GAAP net income was $281 million, or $1.63 per share, compared with $169 million, or $0.97 per share, in the first quarter of 2025.
Non-GAAP net income was $376 million, or $2.17 per share, compared with $317 million, or $1.82 per share in the first quarter of 2025.
Cash flow from operations was $441 million, compared to $378 million last year. Free cash flow was $407 million, compared to $346 million in the first quarter of 2025.
As of January 31, 2026, cash, cash equivalents, and restricted cash totaled $2.20 billion.

Reporting Segments

Communications Solutions Group (CSG)

CSG reported revenue of $1,124 million in the first quarter, up 27 percent from the prior year, reflecting 33 percent growth in commercial communications and 18 percent growth in aerospace, defense, and government.

Electronic Industrial Solutions Group (EISG)

EISG reported revenue of $476 million in the first quarter, up 15 percent from the prior year, reflecting double-digit growth across all end markets of automotive and energy, general electronics, and semiconductor.

Outlook

Keysight’s second fiscal quarter of 2026 revenue is expected to be in the range of $1.690 billion to $1.710 billion. The mid-point of the revenue range represents year-over-year growth of approximately 30%. Non-GAAP earnings per share for the second fiscal quarter of 2026 are expected to be in the range of $2.27 to $2.33, based on a weighted diluted share count of approximately 173 million shares. This outlook does not include any potential impacts related to the February 20, 2026 Supreme Court ruling on IEEPA tariffs or subsequent actions by the U.S. administration. Certain items impacting the GAAP tax rate pertain to future events and are not currently estimable with a reasonable degree of accuracy; therefore, no reconciliation of GAAP earnings per share to non-GAAP has been provided. Further information is discussed in the section titled “Use of Non-GAAP Financial Measures” below.

Webcast

Keysight’s management will present more details about its first quarter FY2026 financial results and its second quarter FY2026 outlook on a conference call with investors today at 1:30 p.m. PT. This event will be webcast in listen-only mode. Listeners may log on to the call at www.investor.keysight.com under the “Upcoming Events” section and select “Q1 FY26 Keysight Technologies Inc. Earnings Conference Call” to participate. The call can also be accessed by dialing 1-646-844-6383 or 1-833-470-1428 toll-free (access code 147302). The webcast will remain on the company site for 90 days.

Forward-Looking Statements

Forward-looking statements notice

This communication contains forward-looking statements as defined in the Securities Exchange Act of 1934 and is subject to the safe harbors created therein. The words “assume,” “expect,” “intend,” “will,” “should,” “outlook” and similar expressions, as they relate to the company, are intended to identify forward-looking statements. These forward-looking statements involve risks and uncertainties that could significantly affect the expected results and are based on certain key assumptions of Keysight’s management and on currently available information. Due to such uncertainties and risks, no assurances can be given that such expectations or assumptions will prove to have been correct, and readers are cautioned not to place undue reliance on such forward-looking statements, which speak only as of the date hereof. Keysight undertakes no responsibility to publicly update or revise any forward-looking statement. The forward-looking statements contained herein include, but are not limited to, predictions, future guidance, projections, beliefs, and expectations about the company’s goals, revenues, financial condition, earnings, and operations that involve risks and uncertainties that could cause Keysight’s results to differ materially from management’s current expectations. Such risks and uncertainties include, but are not limited to, impacts of global economic conditions such as inflation or recession, slowing demand for products or services, volatility in financial markets, reduced access to credit, increased interest rates, impacts of geopolitical tension and conflict outside of the U.S., export control regulations and compliance, net zero emissions commitments, customer purchasing decisions and timing, tariff and trade policy impacts and order cancellations.

In addition to the risks above, other risks that Keysight faces include those detailed in Keysight’s filings with the Securities and Exchange Commission on Keysight’s annual report on Form 10-K for the period ended October 31, 2025.

Segment Data

Segment data reflect the results of our reportable segments under our management reporting system. Segment data are provided on page 5 of the attached tables.

Use of Non-GAAP Financial Measures

In addition to financial information prepared in accordance with U.S. GAAP (“GAAP”), this document also contains certain non-GAAP financial measures based on management’s view of performance, including:

Non-GAAP Net Income/Earnings
Non-GAAP Net Income per share/Earnings per share
Free Cash Flow

Net Income per share is based on weighted average diluted share count. See the attached supplemental schedules for reconciliations of each non-GAAP financial measure to its most directly comparable GAAP financial measure for the three months ended January 31, 2026. Following the reconciliations is a discussion of the items adjusted from our non-GAAP financial measures and the company’s reasons for including or excluding certain categories of income or expenses from our non-GAAP results.

About Keysight Technologies

At Keysight (NYSE: KEYS), we inspire and empower innovators to bring world-changing technologies to life. As an S&P 500 company, we’re delivering market-leading design, emulation, and test solutions to help engineers develop and deploy faster, with less risk, throughout the entire product lifecycle. We’re a global innovation partner enabling customers in communications, industrial automation, aerospace and defense, automotive, semiconductor, and general electronics markets to accelerate innovation to connect and secure the world. Learn more at Keysight Newsroom and www.keysight.com.

	Three months ended
	January 31,
	2026	2025
KEYSIGHT TECHNOLOGIES, INC.
CONDENSED CONSOLIDATED STATEMENT OF OPERATIONS
(In millions, except per share data)
(Unaudited)
PRELIMINARY
Orders	$1,645	$1,263
Revenue	$1,600	$1,298
Costs and expenses:
Cost of products and services	605	478
Research and development	303	249
Selling, general and administrative	447	361
Other operating expense (income), net	(3)	(8)
Total costs and expenses	1,352	1,080
Income from operations	248	218
Interest income	16	19
Interest expense	(29)	(20)
Other income (expense), net	(37)	(18)
Income before taxes	198	199
Provision (benefit) for income taxes	(83)	30
Net income	$281	$169
Net income per share:
Basic	$1.64	$0.97
Diluted	$1.63	$0.97
Weighted average shares used in computing net income per share:
Basic	172	173
Diluted	173	174

	January 31, 2026	October 31, 2025
KEYSIGHT TECHNOLOGIES, INC.
CONDENSED CONSOLIDATED BALANCE SHEET
(In millions, except par value and share data)
(Unaudited)
PRELIMINARY
ASSETS
Current assets:
Cash and cash equivalents	$2,178	$1,873
Accounts receivable, net	914	939
Inventory	1,048	1,050
Other current assets	561	486
Total current assets	4,701	4,348
Property, plant and equipment, net	757	795
Operating lease right-of-use assets	229	236
Goodwill	3,474	3,424
Other intangible assets, net	1,251	1,304
Long-term investments	147	211
Long-term deferred tax assets	330	373
Other assets	592	610
Total assets	$11,481	$11,301
LIABILITIES AND EQUITY
Current liabilities:
Accounts payable	$334	$355
Employee compensation and benefits	329	399
Deferred revenue	729	652
Income and other taxes payable	196	207
Operating lease liabilities	52	51
Other accrued liabilities	165	186
Total current liabilities	1,805	1,850
Long-term debt	2,534	2,534
Retirement and post-retirement benefits	75	75
Long-term deferred revenue	237	232
Long-term operating lease liabilities	186	193
Other long-term liabilities	439	536
Total liabilities	5,276	5,420
Stockholders' equity:
Preferred stock; $0.01 par value; 100 million shares authorized; none issued and outstanding	-	-
Common stock; $0.01 par value; 1 billion shares authorized; 203 million and 202 million shares issued, respectively	2	2
Treasury stock, at cost; 31.2 million shares and 30.8 million shares, respectively	(3,886)	(3,799)
Additional paid-in-capital	2,932	2,851
Retained earnings	7,356	7,075
Accumulated other comprehensive loss	(199)	(248)
Total stockholders' equity	6,205	5,881
Total liabilities and equity	$11,481	$11,301

	Three months ended
	January 31,
	2026	2025
KEYSIGHT TECHNOLOGIES, INC.
CONDENSED CONSOLIDATED STATEMENT OF CASH FLOWS
(In millions)
(Unaudited)
PRELIMINARY
Cash flows from operating activities:
Net income	$281	$169
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation	38	31
Amortization	67	35
Share-based compensation	76	62
Deferred tax expense (benefit)	(1)	(10)
Excess and obsolete inventory-related charges	9	9
Gain on sale of investments	(5)	-
Unrealized loss (gain) on investments in equity securities	53	(37)
Other non-cash expenses (income), net	6	1
Changes in assets and liabilities, net of effects of businesses acquired:
Accounts receivable	33	53
Inventory	(3)	(26)
Accounts payable	(13)	(16)
Employee compensation and benefits	(61)	(38)
Deferred revenue	70	43
Income taxes payable	(41)	34
Income taxes receivable	(53)	(5)
Other assets and liabilities	(15)	73
Net cash provided by operating activities	441	378
Cash flows from investing activities:
Investments in property, plant and equipment	(34)	(32)
Acquisitions of businesses and intangible assets, net of cash acquired	(16)	-
Proceeds from sale of investments	7	-
Other investing activities	(1)	(1)
Net cash used in investing activities	(44)	(33)
Cash flows from financing activities:
Proceeds from issuance of common stock under employee stock plans	32	31
Payment of taxes related to net share settlement of equity awards	(31)	(29)
Treasury stock repurchases, including excise tax payments	(87)	(75)
Payment of acquisition-related consideration	(13)	-
Other financing activities	-	(1)
Net cash used in financing activities	(99)	(74)
Effect of exchange rate movements	7	(8)
Net increase in cash, cash equivalents, and restricted cash	305	263
Cash, cash equivalents, and restricted cash at beginning of period	1,890	1,814
Cash, cash equivalents, and restricted cash at end of period	$2,195	$2,077

Cash payments included in operating activities:

Interest payments	$32	$ -
Income tax paid, net	$18	$9

	Three months ended
	January 31,
	2026		2025
	Net Income	Diluted EPS	Net Income	Diluted EPS
KEYSIGHT TECHNOLOGIES, INC.
NET INCOME AND DILUTED EPS RECONCILIATION
(In millions, except per share data)
(Unaudited)
PRELIMINARY
GAAP Net income	$281	$1.63	$169	$0.97
Non-GAAP adjustments:
Amortization of acquisition-related balances	73	0.42	33	0.19
Share-based compensation	77	0.44	62	0.36
Acquisition and integration costs	29	0.17	98	0.56
Restructuring and others	60	0.34	(24)	(0.14)
Adjustment for taxes	(144)	(0.83)	(21)	(0.12)
Non-GAAP Net income	$376	$2.17	$317	$1.82
Weighted average shares outstanding - diluted	173		174

For the three months ended January 31, 2026 and 2025, management used a non-GAAP effective tax rate of 14%, respectively.

Please refer to the last page for details on the use of non-GAAP financial measures.

	Q1'26	Q1'25	Inc/(Dec)
KEYSIGHT TECHNOLOGIES, INC.
SEGMENT RESULTS INFORMATION
(In millions, except percentages)
(Unaudited)
PRELIMINARY
Communications Solutions Group			Percent
Revenue	$1,124	$883	27%
Gross margin, %	68%	68%
Income from operations	$309	$240
Operating margin, %	27%	27%
Electronic Industrial Solutions Group			Percent
	Q1'26	Q1'25	Inc/(Dec)
Revenue	$476	$415	15%
Gross margin, %	62%	61%
Income from operations	$130	$114
Operating margin, %	27%	27%

Segment revenue and income from operations are consistent with the respective non-GAAP financial measures as discussed on last page.

	Three months ended
	January 31,
	2026	2025
KEYSIGHT TECHNOLOGIES, INC.
FREE CASH FLOW
(In millions)
(Unaudited)
PRELIMINARY
Net cash provided by operating activities	$441	$378
Adjustments:
Investments in property, plant and equipment	(34)	(32)
Free cash flow	$407	$346

Please refer to the last page for details on the use of non-GAAP financial measures.

			Percent
	Q1'26	Q1'25	Inc/(Dec)
KEYSIGHT TECHNOLOGIES, INC.
REVENUE BY END MARKETS
(In millions)
(Unaudited)
PRELIMINARY
Aerospace, Defense and Government	$366	$311	18%
Commercial Communications	758	572	33%
Electronic Industrial	476	415	15%
Total Revenue	$1,600	$1,298	23%

KEYSIGHT TECHNOLOGIES, INC.

Non-GAAP Financial Measures

Management uses both GAAP and non-GAAP financial measures to analyze and assess the overall performance of the business, to make operating decisions and to forecast and plan for future periods. We believe that our investors benefit from seeing our results “through the eyes of management” in addition to seeing our GAAP results. This information enhances investors’ understanding of the continuing performance of our business and facilitates comparison of performance to our historical and future periods.

Our non-GAAP financial measures may not be comparable to similarly titled measures used by other companies, including industry peer companies, limiting the usefulness of these measures for comparative purposes.

These non-GAAP measures should be considered supplemental to and not a substitute for financial information prepared in accordance with GAAP. The discussion below presents information about each of the non-GAAP financial measures and the company’s reasons for including or excluding certain categories of income or expenses from our non-GAAP results. In future periods, we may exclude such items and may incur income and expenses similar to these excluded items. Accordingly, adjustments for these items and other similar items in our non-GAAP presentation should not be interpreted as implying that these items are non-recurring, infrequent or unusual.

Core Revenue/ Margin excludes the impact of foreign currency changes and revenue/ expenses associated with acquisitions or divestitures completed within the last twelve months. We exclude from the current period the impact of foreign currency changes as currency rates can fluctuate based on factors that are not within our control and can obscure growth trends. As the nature, size and number of acquisitions can vary significantly from period to period and as compared to our peers, we also exclude revenue/ expenses associated with recently acquired businesses to facilitate comparisons of growth and analysis of underlying business trends.

Percentages and period over period changes are calculated using underlying unrounded values and may not precisely reconcile to the rounded figures presented.

Free cash flow includes cash provided by operating activities adjusted for net investments in property, plant & equipment.

Non-GAAP Income from Operations, Non-GAAP Net Income and Non-GAAP Diluted EPS may include the following types of adjustments:

Acquisition-related Items: We exclude the impact of certain items recorded in connection with business combinations from our non-GAAP financial measures that are either non-cash or not normal, recurring operating expenses due to their nature, variability of amounts and lack of predictability as to occurrence or timing. These amounts may include non-cash items such as the amortization of acquired intangible assets and amortization of items associated with fair value purchase accounting adjustments. We also exclude other acquisition and integration costs associated with business acquisitions that are not normal recurring operating expenses, including gain/loss on foreign exchange contracts and legal, accounting and due diligence costs. We exclude these charges to facilitate a more meaningful evaluation of our current operating performance and comparisons to our past operating performance.
Share-based Compensation Expense: We exclude share-based compensation expense from our non-GAAP financial measures because share-based compensation expense can vary significantly from period to period based on the company’s share price, as well as the timing, size and nature of equity awards granted. Management believes the exclusion of this expense facilitates the ability of investors to compare the company’s operating results with those of other companies, many of which also exclude share-based compensation expense in determining their non-GAAP financial measures.
Restructuring and others: We exclude incremental expenses associated with restructuring initiatives including those of acquired entities, usually aimed at material changes in the business or cost structure. Such costs may include employee separation costs, asset impairments, facility-related costs, contract termination fees, and costs to move operations from one location to another. These activities can vary significantly from period to period based on the timing, size and nature of restructuring plans; therefore, we do not consider such costs to be normal, recurring operating expenses.

We also exclude “others,” not normal, recurring, cash operating income/expenses from our non-GAAP financial measures. Such items are evaluated on an individual basis, based on both quantitative and qualitative factors and generally represent items that we do not anticipate occurring as part of our normal business. While not all-inclusive, examples of such items would include net gains/losses on investments, significant non-recurring events like realized gains or losses associated with our employee benefit plans, costs and recoveries related to unusual events, gain on sale of assets/divestitures, adjustment attributable to non-controlling interest, etc. We believe that these costs do not reflect expected future operating expenses and do not contribute to a meaningful evaluation of the company’s current operating performance or comparisons to our operating performance in other periods.

Estimated Tax Rate: We utilize a consistent methodology for long-term projected non-GAAP tax rate. When projecting this long-term rate, we exclude any tax benefits or expenses that are not directly related to ongoing operations and which are either isolated or cannot be expected to occur again with any regularity or predictability. Additionally, we evaluate our current long-term projections, current tax structure and other factors, such as existing tax positions in various jurisdictions and key tax holidays in major jurisdictions where Keysight operates. This tax rate could change in the future for a variety of reasons, including but not limited to significant changes in geographic earnings mix including acquisition activity, or fundamental tax law changes in major jurisdictions where Keysight operates. The above reasons also limit our ability to reasonably estimate the future GAAP tax rate and provide a reconciliation of the expected non-GAAP earnings per share for the second quarter of fiscal 2026 to the GAAP equivalent.

Management recognizes these items can have a material impact on our cash flows and/or our net income. Our GAAP financial statements, including our Condensed Consolidated Statement of Cash Flows, portray those effects. Although we believe it is useful for investors to see core performance free of special items, investors should understand that the excluded costs are actual expenses that may impact the cash available to us for other uses. To gain a complete picture of all effects on the company’s profit and loss from any and all events, management does (and investors should) rely upon the Condensed Consolidated Statement of Operations prepared in accordance with GAAP. The non-GAAP measures focus instead upon the core business of the company, which is only a subset, albeit a critical one, of the company’s performance.

Contacts
Liz Morali
+1 707 577 2880 liz.morali@keysight.com
Andrea Mueller
+ 1 408-236-1541 andrea.mueller@keysight.com
Source: IR-KEYS