Galaxy Digital Inc. (GLXY)
The company now
Galaxy Digital operates as a brokerage business. In fiscal 2025, Digital Assets accounted for 100% of revenue, with Treasury and Corporate under 1%, and Data Centers under 1%. Revenue by line of business for fiscal 2025 was Digital Assets $61.25 billion and Data Centers $0.01 billion. 25
From the record in brief, written by the desk, an AI model, from the company's record on Oct 22, 2026. Nothing here is advice.
Where the revenue comes from
fiscal 2025, as filedRevenue by line of business, fiscal 2025
| Line of business | Fiscal 2025 | Fiscal 2024 | Share of revenue |
|---|---|---|---|
| Digital Assets | $60.39B | $42.50B | 100.0% |
| Treasury and Corporate | $12.9M | $99.6M | under 1% |
| Data Centers | $8.4M | n/a | under 1% |
As tagged in its annual report (Form 10-K, filed Feb 26, 2026 ↗), read from the SEC's financial statement data sets. The year before is the figure the record holds for the prior fiscal year.
The desk's written account of this company, its Past, Present and Future, is not on file yet.
How the company works
The desk has not read this company's annual report yet.
The record in brief
five sections from the recordBy the desk, an AI model (Claude Haiku 4.5), written from the company's record on Oct 22, 2026; nothing here is advice. Every sentence rests on the numbered source beside it, and a sentence the record did not support was cut before the report was kept.
A newer quarterly report (Form 10-Q, filed 2026-11-09) and current report (Form 8-K, filed 2026-10-27) is on file; this report was written before it, and the desk writes it again on request.
Past
Revenue grew from $52 billion in fiscal 2023 to $60 billion in fiscal 2025, up 8.2% a year, rising in 1 of 2 years and falling 17% from fiscal 2023 to fiscal 2024. Net income was positive in 2 of 3 of those years. Over the two fiscal years to 2025-12-31, the diluted share count grew about 6.0% a year, and dividends and buybacks returned about 0% of net income over three years. The arc reads past 4.4 of 10. 12
Present
In its latest annual figures on file, for the fiscal year ended 2025-12-31, Galaxy Digital reported revenue of $60 billion and a loss of $241 million. In the fiscal year ended 2025-12-31, it lost about 8 cents for every dollar of shareholders' money; it owed about 73 cents per dollar of assets, and its share count grew 2.7% over the year. Its revenue of $60 billion in fiscal 2025 ranks in the top 2% by size among its industry family; a net margin of -0.4% ranks in the bottom 19%; revenue growth of 8.2% a year over the last 2 filed years ranks in the bottom 23%. The arc reads present 3.8 of 10. 21
Michael Novogratz is Chief Executive Officer; Christopher C Ferraro is President and Chief Investment Officer; Anthony Paquette is Chief Financial Officer. Galaxy Digital's leadership is estimated at 2.4 of 10 with a confidence of 35 of 100, because the record of its people begins on 2025-05-15 and its chief executive and most of the people in charge have filed since then, showing a floor of 1.4 years and unable to see past it. 31
Future
A quarterly report (Form 10-Q) for the quarter ending 2026-09-30 is due by 2026-11-14. An annual report (Form 10-K) for the fiscal year ending 2026-12-31 is due by 2027-03-31. The newest year grew 41.8% in revenue, in the top 27% of its family, and capital spending grew 410.7% a year, in the top 2%. Cash of $1.2 billion against no long-term debt tagged leaves 11% of its assets as net cash, in the top 43% of its family; cash from operations less capital spending is -2.5% of revenue, in the bottom 22%. The arc reads future 5.6 of 10. 412
How the company operates
Galaxy Digital operates as a brokerage business. In fiscal 2025, Digital Assets accounted for 100% of revenue, with Treasury and Corporate under 1%, and Data Centers under 1%. Revenue by line of business for fiscal 2025 was Digital Assets $61.25 billion and Data Centers $0.01 billion. 25
New moves
On 2026-09-23, a Form 8-K current report noted an officer or director change. On 2026-07-28, a Form 8-K current report noted a major agreement signed and new debt or an obligation taken on. On 2026-05-28, a Form 8-K current report noted a shareholder vote. On 2026-10-09, CoinDesk reported: "MARA transfers $81.1 million in bitcoin to Galaxy Digital as strategy pivots to AI". 46
Sources
a number beside a sentence opens its entry in its own document's listThe record in brief 6 sources · written Oct 22, 2026
- GLXY: the nine metricsthis site's record
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Track record (past, graded 2.7 of 10, weighs 33% of the past): Galaxy Digital Inc.'s 3 filed years say what it did: revenue went from $52 billion in fiscal 2023 to $60 billion in fiscal 2025, up 8.2% a year; it rose in 1 of 2 years; the deepest fall was 17% from fiscal 2023 to fiscal 2024; net income was positive in 2 of 3 of those years (its annual reports).
Shareholder treatment (past, graded 2.2 of 10, weighs 22% of the past): Over the 2 fiscal years to 2025-12-31, Galaxy Digital Inc.'s diluted share count grew about 6.0% a year, and dividends and buybacks returned about 0% of its net income over 3 years (its filed statements).
Financial health (present, graded 3.6 of 10, weighs 33% of the present): Return on equity: in the fiscal year ended 2025-12-31, Galaxy Digital Inc. lost about 8 cents for every dollar of shareholders' money. Leverage: it owed about 73 cents per dollar of assets, and net share issuance: its share count grew 2.7% over the year (the filed statements).
Industry position (present, graded 4.7 of 10, weighs 45% of the present): Galaxy Digital Inc.'s standing among 29 graded names in its industry family: revenue of $60 billion in fiscal 2025 ranks in the top 2% by size; a net margin of -0.4% ranks in the bottom 19%; revenue growth of 8.2% a year over the last 2 filed years ranks in the bottom 23% (its annual reports).
Leadership (present, an SI estimate at 2.4 of 10, weighs 22% of the present): SI estimate, not a filed reading: Galaxy Digital Inc.'s leadership is put at 2.4 of 10 with a confidence of 35 of 100, because read from one part only, officer and director changes on Form 8-K over three years, against the people in charge, which ranks in the bottom 24% of 21 in its family; the rec
Growth drivers (future, graded 7.5 of 10, weighs 33% of the future): Galaxy Digital Inc.'s growth drivers, from the filed years to fiscal 2025: revenue grew 8.2% a year over the last three filed years against 8.2% over all 3, speeding up (top 46% of its family); the newest year grew 41.8% (top 27%); capital spending grew 410.7% a year (top 2%) (its annual reports).
Room to expand (future, graded 4.0 of 10, weighs 33% of the future): Galaxy Digital Inc.'s room to grow, from the newest filed statements (fiscal 2025): cash of $1.2 billion against no long-term debt tagged leaves 11% of its assets as net cash, top 43% of its family; cash from operations less capital spending is -2.5% of revenue (bottom 22%) (its annual report).
- GLXY: the company filethis site's record
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Headline grade 4.5 of 10; the arc reads past 4.4, present 3.8, future 5.6; 7 of 9 metrics read as filed.
In its latest annual figures on file, for the fiscal year ended 2025-12-31, it reported revenue of $60 billion and a loss of $241 million (its filed statements).
Brokerage business (prior from its industry code (SEC 6211, Security Brokers, Dealers & Flotation Companies); the filing read can change it).
Where the revenue comes from, fiscal 2025, as tagged in its annual report (Form 10-K, filed 2026-02-26): lines of business: Digital Assets 100%, Treasury and Corporate under 1%, Data Centers under 1%.
- GLXY: insiders and the paper traila filing
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Insider roster by name: Novogratz Michael (Chief Executive Officer, officer and director; 3 filings, 4 sales, 0 purchases, last 2026-09-02); Ferraro Christopher C (President and CIO, officer; 2 filings, 2 sales, 0 purchases, last 2026-08-18); Paquette Anthony (Chief Financial Officer, officer; 0 filings, 0 sales, 0 purchases, last 2026-08-07); Brown Erin Elizabeth (Chief Operating Officer, officer
- GLXY: the filing record, ten yearsa filing
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Deadline ahead: Quarterly report (Form 10-Q) for the quarter ending 2026-09-30 is due by 2026-11-14; non-accelerated filers and smaller reporting companies have 45 days after the quarter ends; quarter ends are taken to the month end.
Deadline ahead: Annual report (Form 10-K) for the fiscal year ending 2026-12-31 is due by 2027-03-31; non-accelerated filers and smaller reporting companies have 90 days after the fiscal year ends.
2026-09-23: Form 8-K, Current report (Officer or director change, item 5.02), for the period ended 2026-09-22.
Document: https://www.sec.gov/Archives/edgar/data/1859392/000185939226000084 2026-07-28: Form 8-K, Current report (Major agreement signed, item 1.01; New debt or obligation taken on, item 2.03). Track record: a major agreement signed. Financial health: new debt or an obligation taken on.
Document: https://www.sec.gov/Archives/edgar/data/1859392/000159588826000064 2026-05-28: Form 8-K, Current report (Shareholder vote, item 5.07). Leadership and Shareholder treatment: the vote results.
- GLXY: the money and the checks, as fileda filing
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Revenue by line of business, FY2025 (USD billions): Digital Assets 61.25; Data Centers 0.01.
- GLXY: the alerts of the last thirty days (headlines only; the desk has not read the articles)this site's record
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2026-10-09, CoinDesk: "MARA transfers $81.1 million in bitcoin to Galaxy Digital as strategy pivots to AI"