Company Analysis

Bullish (BLSH)

NYSE: BLSH · Finance Services · filing with the SEC since 2021
Grade6.6
◀ Past 7.9● Present 6.4▶ Future 4.9
2 est.
The companyfiscal 2025, as filed
Revenue$244.8B-2.2%
Net income-$785M-1087.2%
Earnings per share$-5.99-980.9%
Operating cash flow$28.6M+195.5%
Cash$87.9M+178.7%
Debtn/a
Shareholders’ equity$3.30B+37.4%
Shares, diluted127.7M+10.7%
Return on equity-23.8%
The recordfrom its filings
Filings in 202656
Newest filingNov 9 · 6-K
Annual reportMar 10, 2026
Quarterly reportn/a
Next report due20-F by Apr 30
Insider sales, 12 months$16.4M
Insider buys, 12 months$0.00
Patents grantedn/a
Filer categoryNon-accelerated filer
Left: the newest annual report, with the change on the year before. Right: counted from the company's own filings with the SEC.
Revenue and net income by fiscal yearRevenueNet income
232425
As filed, in USD. Nothing here is a forecast.

The company now

Bullish reported second-quarter 2026 digital asset sales of $32.6 billion and a net loss of $280.0 million on 13 August 2026 1.

Digital asset sales are the gross proceeds of coins the company sells as principal, mostly to fill customer trades, so the line is far larger than the fees the company keeps 4.

The loss came mostly from marking its own crypto holdings down: the change in fair value of digital assets held was a loss of $244.6 million for the quarter 1. Adjusted revenue, a measure that leaves such swings out, was $92.6 million, up 62 percent from a year earlier 1.

On 28 October 2026 the company said it will report third-quarter results on 18 November 2026 2. Its agreed $4.2 billion purchase of the transfer agent Equiniti, meant to give it a tokenized-shares business, is expected to close in early 2027 61.

Monthly figures show total trading volume on its exchange of $48.6 billion in September 2026, up from $42.5 billion in August 3.

As of Nov 4, 2026. Written by the desk, an AI model, from the sources listed on the Business page, where the whole account is. Nothing here is advice.

Newer filings are on file since this was written; an update is queued.

News

Oct 22, 2026 · SEC EDGAR · Form 4
Insider trade report
Open the filing on sec.gov
Oct 22, 2026 · SEC EDGAR · Form 4
Insider trade report
Open the filing on sec.gov
Sep 28, 2026 · SEC EDGAR · Form 4
Insider trade report
Open the filing on sec.gov
Sep 23, 2026 · SEC EDGAR · Form 4
Insider trade report
Open the filing on sec.gov
An outside story is shown by its headline, its source and its link only. The SI reads the page when you ask it to break one down.
SI Assistanton BLSH · research, not advice