← BITGO HOLDINGS, INC.
| Annual Trend | FY 2017 | FY 2018 | FY 2019 | FY 2020 | FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 | TTM | |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Net loss | — | ($7.2m) | ($7.3m) | ($31.1m) | ($98.7m) | ($13.9m) | ($16.1m) | ($9.9m) | $23.8m | — | |
| Net income loss | ($7.0m) | ($8.6m) | ($8.6m) | ($10.9m) | $10.4m | $13.9m | $806k | ($977k) | ($2.7m) | — | |
| Profit or Loss | — | — | — | — | — | — | — | ($608k) | ($6.8m) | — | |
| Net loss from discontinuing operation | — | — | — | — | — | — | — | ($2.6m) | ($265k) | — | |
| Amortization of right of use assets | — | $0 | $96k | $79k | $85k | $90k | $96k | $106k | $63k | — | |
| Depreciation | $251k | $265k | $134k | $72k | $76k | $88k | $82k | $53k | $284k | $4.9m | |
| Amortization of technology license | $160k | $161k | $0 | $0 | $5.7m | $76.0m | $80.2m | $80.0m | $61.9m | — | |
| Depreciation of right-of-use assets | — | — | — | — | — | $60k | $27k | $62k | — | $4.9m | |
| Amortization of capitalized internal-use software costs paid in cash | — | — | — | $1.0m | $907k | $2.4m | $4.2m | $9.4m | $14.5m | — | |
| Amortization of debt discount and issuance costs | — | — | — | $0 | $27.5m | $4.8m | $7.0m | $6.2m | $4.7m | — | |
| Depreciation of property and equipment | — | — | — | $3.2m | $4.4m | $9.2m | $11.3m | — | — | $4.9m | |
| Depreciation and amortization | $251k | $2.3m | $3.2m | $4.3m | $5.3m | $88k | $82k | $53k | $284k | $4.9m | |
| Deferred income taxes | — | — | ($176k) | $0 | ($40.6m) | ($4.1m) | ($1.4m) | ($361k) | — | — | |
| Stock-based compensation | $793k | $554k | $684k | $577k | $821k | $851k | $734k | $566k | $242.5m | $13.7m | |
| Fair value of stock-based awards assumed in acquisition | — | — | — | $0 | $55.3m | $21.7m | $0 | $0 | — | — | |
| Stock-Based Compensation Expense | — | — | — | — | — | $300k | $42k | — | — | $13.7m | |
| Impairment of technology license | $0 | $608k | $0 | — | — | — | — | — | — | — | |
| Asset Impairment Charges | — | — | — | — | — | — | $294k | $716k | $4k | $0 | |
| Accounts receivable and deposits, prepayments and other receivables | — | ($279k) | ($2.1m) | ($1.6m) | ($6.5m) | ($871k) | $250k | $290k | $119k | $2.0m | |
| Provision for expected credit losses on acquired card receivables and other financial assets | — | — | — | $0 | $741k | $19.9m | $32.2m | $60.1m | $72.7m | — | |
| Acquired card receivables, net | — | — | — | ($959k) | ($26.5m) | ($129.2m) | ($234.3m) | ($185.5m) | ($129.4m) | — | |
| Payable on purchases of acquired card receivables | — | — | — | — | — | $0 | $0 | $105.4m | $9.2m | — | |
| Increase in other receivables included in funds held for customers | — | $3.7m | ($10.2m) | ($959k) | ($10.8m) | — | — | — | — | — | |
| Accounts receivable – related party | — | — | — | — | — | ($100k) | $100k | — | — | $2.0m | |
| Inventories | — | — | — | — | — | ($43k) | ($39k) | $43k | $37k | — | |
| Accounts payable and accrued expenses | ($12k) | $536k | ($168k) | ($84k) | ($199k) | $700k | $227k | $1.4m | $160k | $3.5m | |
| Accounts payable | — | ($563k) | $3.2m | ($1.6m) | $7.4m | ($3.8m) | ($1.7m) | ($1.1m) | $8.2m | $3.5m | |
| Accounts payable - related party | — | — | — | — | — | — | — | ($264k) | — | $3.5m | |
| Other payables and accrued liabilities | — | — | — | — | — | ($13k) | $41k | $297k | $178k | — | |
| Change in Accounts Payable | — | — | — | — | — | $486k | $50k | ($486k) | — | — | |
| Deferred revenue | ($12k) | $771k | $47k | $3.3m | $6.9m | $5.6m | ($7.3m) | ($5.6m) | $1.5m | — | |
| Accrued stock and debt issuance costs | — | — | $470k | $664k | $120k | $0 | — | — | — | — | |
| Accrued offering and debt issuance costs | — | — | $470k | $664k | — | — | — | — | — | — | |
| Unearned revenue | — | — | — | — | — | ($211k) | $936k | — | — | — | |
| Other current assets | $549k | ($450k) | $15k | ($140k) | ($915k) | $199k | $286k | ($171k) | — | $19.8m | |
| Other | — | — | $299k | $717k | $0 | ($726k) | ($107k) | $1.4m | $395k | — | |
| Prepaid expenses and other current assets | — | ($3.5m) | ($5.7m) | ($10.4m) | $706k | ($13.0m) | ($16.8m) | ($6.8m) | ($27.0m) | — | |
| Other assets | — | ($2.8m) | ($995k) | ($4.9m) | ($12.5m) | $5.1m | $320k | $7.5m | $8.4m | — | |
| Restricted cash included in other current assets | — | $256k | $256k | $35k | $11.0m | $85.3m | $87.3m | $174.1m | $101.6m | — | |
| Restricted cash included in other assets | — | — | $550k | $0 | $6.9m | $6.7m | $13.8m | $5.3m | $4.9m | — | |
| Prepayments and other current assets | — | — | — | — | — | ($156k) | $79k | ($3.8m) | ($134k) | — | |
| Other current liabilities | — | — | — | — | — | — | $46k | $123k | — | ($22.5m) | |
| Net cash used in operating activities | ($8.0m) |
($6.1m)
+23.04%
|
($8.4m)
-36.53%
|
($11.0m)
-31.08%
|
($9.9m)
+9.52%
|
($15.1m)
-52.29%
|
($11.5m)
+23.62%
|
($10.6m)
+8.32%
|
($3.4m)
+68.16%
|
($7.7m)
-129.43%
|
|
| Net Cash from Operating Activities | ($8.0m) |
($6.1m)
+23.04%
|
($8.4m)
-36.53%
|
($11.0m)
-31.08%
|
($9.9m)
+9.52%
|
($15.1m)
-52.29%
|
($11.5m)
+23.62%
|
($39k)
+99.66%
|
($148k)
-279.49%
|
($7.7m)
-5119.59%
|
|
| Purchases of furniture, fixtures & equipment | ($538k) | ($17k) | $0 | $11.4m | ($70k) | ($21k) | $46k | $81k | $32k | — | |
| Gain from disposal of property and equipment | — | — | — | — | — | — | ($1k) | ($7k) | ($28k) | — | |
| Purchase of property and equipment | $538k | ($1.3m) | ($2.7m) | ($11.4m) | ($18.9m) | ($926k) | ($46k) | ($81k) | ($32k) | ($39.6m) | |
| Payable on purchases of property and equipment and internal-use software costs | $538k | $1.9m | $0 | $0 | $664k | $1.9m | $174k | $906k | $5.2m | — | |
| Accretion of discount on investments in marketable debt securities | — | — | ($1.3m) | ($3.8m) | $4.7m | $11.4m | ($37.2m) | ($55.1m) | ($37.0m) | — | |
| Purchases of corporate and customer fund short-term investments | — | ($726.8m) | ($830.6m) | ($1.1b) | ($2.1b) | ($2.8b) | ($2.7b) | ($2.7b) | ($2.8b) | — | |
| Proceeds from maturities and sales of corporate and customer fund short-term investments | — | $290.8m | $694.3m | $806.0m | $1.1b | $1.9b | $3.3b | $2.5b | $2.2b | — | |
| Proceeds from sale of corporate and customer fund short-term investments | — | $16.5m | $54.7m | $46.2m | $142.7m | $55.7m | $11.6m | $1.5m | — | — | |
| Net cash used in investing activities | ($538k) | ($17k) | $0 | ($249.5m) | ($70k) | ($21k) | ($46k) | ($38k) | ($4k) | ($124.7m) | |
| Net Cash from Investing Activities | — | — | — | — | — | — | — | ($547k) | $352k | — | |
| Repayment of bank borrowings | — | ($3.4m) | ($9.5m) | — | — | ($354k) | ($365k) | ($373k) | ($399k) | — | |
| Bad Debt Expense | — | — | — | — | — | — | — | $246k | — | — | |
| Proceeds from line of credit borrowings | — | — | — | $2.3m | $0 | $37.5m | $60.0m | $45.0m | $0 | — | |
| Payments on line of credit and bank borrowings | — | — | ($9.5m) | $0 | ($2.3m) | ($40.0m) | $0 | $0 | — | — | |
| Proceeds from line of credit and bank borrowings | — | $9.5m | — | $2.3m | — | — | — | — | — | — | |
| Proceeds from Debt Issuance | — | — | — | — | — | $710k | $627k | ($180k) | — | — | |
| Net proceeds from sale of common stock | $3.6m | $1.2m | $26.7m | $4.3m | $15.8m | $1.7m | $1.7m | $10.7m | $6.7m | — | |
| Payable on repurchase of common stock | — | — | — | — | — | — | $0 | $0 | $5.0m | — | |
| Proceeds from issuance of common stock upon public offering, net of underwriting discounts and other offering costs | — | — | — | $0 | $0 | $1.3b | $0 | $0 | — | — | |
| Proceeds from issuance of common stock upon initial public offering, net of underwriting discounts and commissions and other offering costs | — | — | — | $225.5m | $0 | $0 | — | — | — | — | |
| Proceeds from issuance of common stock upon follow-on public offering, net of underwriting discounts and commissions and other offering costs | — | — | — | $308.2m | $0 | $0 | — | — | — | — | |
| Conversion of redeemable convertible preferred stock into common stock upon initial public offering | — | — | — | $276.3m | $0 | $0 | — | — | — | — | |
| Dividend payments | — | — | — | — | — | ($2.0m) | ($1.6m) | ($666k) | — | — | |
| Tax withholdings related to net share settlements of equity awards | — | — | — | — | — | $0 | $0 | ($3.9m) | ($7.8m) | — | |
| Net cash provided by financing activities | $5.1m |
$1.2m
-76.79%
|
$27.8m
+2254.49%
|
$4.3m
-84.56%
|
$20.0m
+366.45%
|
$1.7m
-91.33%
|
$2.2m
+27.05%
|
$10.7m
+385.52%
|
$5.7m
-46.45%
|
$4.6b
+80162.01%
|
|
| Net Cash from Financing Activities | $5.1m |
$1.2m
-76.79%
|
$27.8m
+2254.49%
|
$4.3m
-84.56%
|
$20.0m
+366.45%
|
$1.7m
-91.33%
|
$2.2m
+27.05%
|
($486k)
-122.05%
|
$5.7m
+1279.17%
|
— | |
| Cash, beginning of period | $9.4m | $6.0m | $1.0m | $20.4m | $13.8m | $23.8m | $10.4m | $1.1m | $3.6b | — | |
| Effect of exchange rate changes on cash, cash equivalents, restricted cash and restricted cash equivalents | — | — | — | $0 | $0 | ($149k) | ($38k) | ($240k) | ($290k) | — | |
| Restricted cash and restricted cash equivalents included in funds held for customers | — | $568.9m | $892.1m | $1.0b | $1.3b | $1.9b | $2.5b | $2.2b | $2.4b | — | |
| Net increase in cash, cash equivalents, restricted cash, and restricted cash equivalents | — | ($99.9m) | $391.6m | $609.2m | $217.3m | ($46k) | ($46k) | $1.1m | $9.1m | — | |
| Effect of Exchange Rate on Cash | — | — | — | — | — | ($68k) | $28k | ($148k) | $180k | — | |
| Additional Supplementary Disclosures | |||||||||||
| Additional Supplementary Disclosures | |||||||||||
| Change in fair value of warrant liability | ($2.4m) | $0 | — | — | — | — | $271k | ($2.1m) | — | — | |
| Prepaid drug product | ($741k) | $785k | ($444k) | ($497k) | $750k | ($3.1m) | $3.0m | ($442k) | — | — | |
| Lease liabilities | — | $0 | ($79k) | ($85k) | ($95k) | ($99k) | ($108k) | ($118k) | ($116k) | — | |
| Net proceeds from exercise of warrants | $1.5m | $0 | $1.1m | $144k | $4.2m | — | $526k | — | — | — | |
| Net decrease in cash | ($3.4m) | ($5.0m) | $19.4m | ($6.7m) | $10.0m | ($13.4m) | ($9.3m) | $121k | $2.5m | — | |
| Right of use asset recognized in exchange for lease obligation | — | — | — | — | — | $85k | $105k | $88k | — | — | |
| Non-cash leasehold improvements | — | $0 | $31k | — | — | — | — | — | — | — | |
| Loss on extinguishment of warrant liability | $440k | $0 | — | — | — | $0 | $0 | ($46.7m) | ($40.5m) | — | |
| Cash, end of period | $6.0m | $1.0m | — | — | — | — | — | — | — | — | |
| Warrants transferred to equity upon modification | $797k | $0 | — | — | — | — | — | — | — | — | |
| Conversion of warrant liability to equity | $175k | $0 | — | — | — | — | — | — | — | — | |
| Allowance for expected credit loss | — | — | — | — | — | — | — | $246k | $359k | — | |
| Income tax payable | — | — | — | — | — | $452k | ($214k) | ($309k) | — | — | |
| Proceeds from Sale of PP&E | — | — | — | — | — | $11k | — | $43k | $28k | — | |
| Repurchases of shares | — | — | — | — | $0 | $0 | ($87.6m) | ($211.9m) | ($571k) | — | |
| Repayment of finance lease liabilities | — | — | — | — | — | ($50k) | ($18k) | ($42k) | — | — | |
| BEGINNING OF YEAR | $691.5m | $591.6m | $983.2m | $1.6b | $1.2m | $787k | $457k | $190k | |||
| Income Tax Expense | — | — | — | — | — | ($40k) | $531k | $308k | — | — | |
| Interest Expense | — | $436k | $872k | $174k | $112k | $55k | $47k | $41k | $34k | — | |
| Provision for Doubtful Accounts (CF) | — | — | — | — | — | — | $1.3m | ($39k) | — | — | |
| Accretion of discount on loans held for investment | — | — | — | — | — | $0 | ($127k) | ($9.2m) | ($21.2m) | — | |
| Non-cash operating lease expense | ($8.0m) | ($6.1m) | ($8.4m) | $0 | $3.8m | $8.6m | $9.5m | $8.6m | $8.2m | ($7.7m) | |
| Other accruals and current liabilities | — | $1.6m | $4.3m | $9.8m | $23.0m | $7.5m | $34.5m | $21.0m | $30.2m | — | |
| Operating lease liabilities | — | — | — | $0 | $8.4m | ($7.9m) | ($10.3m) | ($9.8m) | ($9.4m) | — | |
| Other long-term liabilities | — | $35k | $302k | $13.0m | $592k | ($6.7m) | ($3.1m) | ($14.6m) | $46k | — | |
| Cash paid for acquisition, net of acquired cash and cash equivalents | — | — | — | $0 | ($556.1m) | ($144.3m) | ($28.9m) | $0 | $0 | — | |
| Purchase of intangible assets | — | — | — | — | — | — | $0 | $0 | ($2.9m) | — | |
| Purchases of loans held for investment | — | — | — | — | — | $0 | ($5.9m) | ($359.7m) | ($798.9m) | — | |
| Principal repayments of loans held for investment | — | — | — | — | — | $0 | $4.5m | $326.2m | $787.5m | — | |
| Capitalization of internal-use software costs | — | ($733k) | ($1.6m) | ($639k) | ($2.3m) | ($10.3m) | ($23.6m) | ($19.9m) | ($33.8m) | — | |
| Proceeds from beneficial interest | — | — | — | $0 | $0 | $6.7m | $2.1m | $0 | $0 | — | |
| Proceeds from issuance of convertible senior notes | — | — | — | $0 | $1.1b | $560.1m | $0 | $0 | $1.4b | — | |
| Cash paid for convertible senior notes issuance costs | — | — | — | ($151k) | — | — | $0 | $0 | ($24.0m) | — | |
| Payments for repurchase of convertible senior notes | — | — | — | $0 | $1.1b | $0 | $0 | ($933.2m) | ($539.4m) | — | |
| Proceeds from unwind of capped calls | — | — | — | — | — | $0 | $0 | $11.4m | $0 | — | |
| Purchase of capped calls | — | — | — | $0 | ($87.9m) | ($37.9m) | $0 | $0 | ($93.0m) | — | |
| Customer fund deposits liability and other | — | $263.7m | $414.3m | $314.9m | $563.3m | $941.0m | $204.4m | $354.0m | $318.7m | — | |
| Prepaid card deposits | — | — | — | — | $0 | $29.9m | $26.6m | ($17.9m) | $28.5m | — | |
| Cash paid for line of credit issuance costs | — | — | — | — | — | — | $0 | $0 | ($1.7m) | — | |
| Proceeds from exercise of stock options | — | $693k | $1.7m | $12.2m | $28.2m | $34.0m | $13.9m | $8.1m | $3.7m | — | |
| Contingent consideration payout | — | — | — | — | — | $0 | $0 | ($10.8m) | $0 | — | |
| Cash and cash equivalents | — | $22.4m | $90.3m | $573.6m | $509.6m | $1.6b | $1.6b | $985.9m | $1.0b | $114.5m | |
| Cash paid for income taxes during the period | — | — | — | — | $0 | $0 | $1.3m | $5.6m | $6.3m | — | |
| Payable on excise tax | — | — | — | — | — | — | $0 | $0 | $2.7m | — | |
| Issuance and exercise of warrants | — | — | — | — | — | — | $0 | $8.8m | $13.1m | — | |
| Fair value of shares issued as consideration for acquisition | — | — | — | $0 | $1.6b | $488.5m | $3.4m | $0 | — | — | |
| Fair value of earn-out consideration for acquisition | — | — | — | — | $0 | $0 | $10.8m | — | — | — | |
| Recognition of beneficial interest | — | — | — | $0 | $0 | $4.7m | $1.7m | — | — | — | |
| Reclassification of redeemable convertible preferred stock warrant liabilities into additional paid-in capital upon initial public offering | — | — | — | $1.4m | $0 | $0 | — | — | — | — | |
| Receivable from broker-assisted exercises of stock options | — | — | — | $1.2m | $0 | $0 | — | — | — | — | |
| Unbilled revenue | — | ($503k) | ($1.7m) | ($554k) | ($1.6m) | — | — | — | — | — | |
| Proceeds from issuance of redeemable convertible preferred stock, net of issuance costs | — | $55.8m | $85.2m | — | — | — | — | — | — | — | |
| Revaluation of warrant liabilities and forfeiture of warrants | — | $182k | $25k | $717k | — | — | — | — | — | — | |
| Issuance of warrants | — | — | $274k | — | — | — | — | — | — | — | |
| Loss from investment disposal | — | — | — | — | — | — | — | — | $2.2m | — | |
| Change in fair value of SEPA | — | — | — | — | — | — | — | — | $371k | — | |
| Deferred offering costs | — | — | — | — | — | — | ($539k) | ($52k) | — | — | |
| Purchase of investment in equity investee | — | — | — | — | — | — | — | — | ($3.6m) | — | |
| Payments to related parties | — | — | — | — | — | ($215k) | ($135k) | ($627k) | — | — | |
| Warrants assumption | — | — | — | — | — | — | — | ($13k) | — | — | |
| Noncash deferred offering costs offset to APIC upon IPO completion | — | — | — | — | — | — | — | $590k | — | — | |
| Loss from settlement | — | — | — | — | — | — | — | $29k | — | — | |
| Fixed assets disposal loss | — | — | — | — | — | — | — | $5k | — | — | |
| Subsidiary disposal loss | — | — | — | — | — | — | — | $24k | — | — | |
| Restructuring Expense | — | — | — | — | — | — | — | $24k | — | — | |
| Payments to short-term loans | — | — | — | — | — | — | ($150k) | ($740k) | — | — | |
| Payment to long-term note | — | — | — | — | — | ($34k) | ($47k) | ($49k) | — | — | |
| Shares issued for cash | — | — | — | — | — | $1.5m | $900k | $8.4m | — | — | |
| Other non-current assets | — | — | — | — | — | ($40k) | ($10k) | — | — | — | |
| Credit cards payable | — | — | — | — | — | ($6k) | $5k | — | — | — | |
| Proceeds from related parties | — | — | — | — | — | $146k | $627k | — | — | — | |
| Right of use assets acquired under new operating leases | — | — | — | — | — | $356k | $105k | — | — | — |
Values abbreviated: b = billions, m = millions, k = thousands. Per share data in USD.