← Galaxy Digital Inc.
| Annual Trend | FY 2016 | FY 2017 | FY 2018 | FY 2019 | FY 2020 | FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 | TTM | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Total Revenue | $15.9m |
$16.3m
+2.50%
|
$13.6m
-16.72%
|
$10.0m
-26.65%
|
$10.9m
+9.60%
|
$13.3m
+21.56%
|
$16.8m
+26.85%
|
$51.6b
+306855.10%
|
$42.5b
-17.67%
|
$60.2b
+41.74%
|
$57.4b
-4.77%
|
|
| Hosting revenue | — | — | — | — | — | $0 | $8.5m | $55.4m | — | — | — | |
| Revenues and gains / (losses) from operations | — | — | — | — | — | — | — | $52.2b | $43.8b | $61.4b | — | |
| Cost of revenue | $7.3m |
$7.2m
-1.68%
|
$6.7m
-5.75%
|
$5.4m
-20.57%
|
$4.5m
-15.91%
|
$4.5m
+0.58%
|
$5.1m
+12.88%
|
$5.0m
-2.01%
|
$4.9m
-1.79%
|
$5.1m
+4.43%
|
$57.5b
+1118208.25%
|
|
| Total cost of revenue | $7.3m |
$7.2m
-1.68%
|
($628.0m)
-8870.89%
|
($755.4m)
-20.28%
|
($607.1m)
+19.63%
|
($483.7m)
+20.32%
|
($10.1m)
+97.92%
|
($10.2m)
-1.44%
|
($11.6m)
-13.24%
|
($17.2m)
-48.79%
|
— | |
| Gross profit | $8.6m |
$9.1m
+6.04%
|
$6.8m
-25.33%
|
$4.6m
-32.67%
|
$6.4m
+39.37%
|
$8.7m
+36.34%
|
$11.7m
+34.10%
|
$10.9m
-7.10%
|
$10.4m
-4.02%
|
$10.2m
-1.85%
|
($135.7m)
-1424.70%
|
|
| Research and development | $1.6m | $1.6m | $1.6m | $2.2m | $1.6m | $2.4m | $3.2m | $3.7m | $4.2m | $4.0m | — | |
| Sales and marketing | $4.9m | $4.8m | $4.0m | $4.8m | $2.6m | $2.7m | $5.2m | $4.8m | $3.7m | $4.5m | — | |
| Selling, general and administrative | — | — | — | — | — | $332k | $19.9m | $53.9m | $45.0m | $83.1m | $171.9m | |
| Labor and Related Expense | — | — | — | — | — | — | — | — | $265.6m | $299.9m | — | |
| Restructuring and acquisition related expenses | — | — | $187k | $1.1m | $366k | $1.2m | $164k | $132k | $210k | $242k | — | |
| Restructuring, Settlement and Impairment Provisions, Total | $879k | $286k | $187k | — | — | — | — | — | — | — | — | |
| Operating Expenses | $12.2m | $10.5m | $13.8m | $15.7m | $8.0m | $9.9m | $13.6m | $52.0b | $43.4b | $61.6b | $56.7b | |
| Total costs and expenses | — | — | — | — | — | $332k | $19.9m | $98.3m | $169.5m | $161.0m | ($793.3m) | |
| Loss from operations | ($3.5m) |
($1.4m)
+60.91%
|
($7.0m)
-404.62%
|
($11.1m)
-58.36%
|
($1.6m)
+85.15%
|
($1.2m)
+28.04%
|
($1.9m)
-60.36%
|
($9.9m)
-422.67%
|
($2.0m)
+79.64%
|
($2.4m)
-20.21%
|
— | |
| Interest Expense, Debt | — | — | — | — | — | — | — | — | $30.8m | $59.2m | $73.6m | |
| Interest expense and other, net | — | — | — | ($303k) | ($7k) | ($883k) | $417k | ($189k) | ($61k) | ($126k) | $73.6m | |
| Interest expense, net | ($914k) | ($201k) | ($265k) | ($304k) | — | — | — | $2.0m | $17.7m | $14.7m | $73.6m | |
| Interest expenses | — | — | ($8k) | ($2.5m) | ($6.1m) | ($2.4m) | ($20k) | ($63k) | ($48k) | ($62k) | $73.6m | |
| Notes interest expense | — | — | — | — | — | — | — | $27.3m | $30.8m | $59.2m | — | |
| Interest income | — | — | $1.1m | $1.6m | $5k | $34k | — | $1k | — | $191k | $7.7m | |
| Investment Income, Interest | — | — | — | — | — | — | — | — | $85.5m | $147.9m | — | |
| Fair Value, Option, Changes in Fair Value, Gain (Loss) | — | — | — | — | — | — | — | $0 | $131.0m | ($247.7m) | — | |
| Equity in income on equity method investments | — | — | $1.7m | $2.7m | ($1.5m) | ($149k) | $12k | $12k | $75k | $91k | — | |
| Equity income on equity method investments | — | — | $9.8m | $2.7m | ($1.5m) | ($149k) | $83k | $12k | $75k | $91k | — | |
| Nonoperating Income (Expense) | — | — | — | — | — | — | — | — | ($29.0m) | ($32.8m) | — | |
| Other Nonoperating Income (Expense) | — | — | — | — | — | — | — | — | $2.8m | $2.7m | — | |
| Other income / (expense), net | — | — | $1.6m | $4.0m | $495k | $634k | $28k | ($135k) | $2.8m | $2.7m | ($958.1m) | |
| Other income, net | — | — | $161k | $2.1m | — | — | — | — | — | — | ($958.1m) | |
| Total other income / (expense) | — | — | — | — | — | ($236k) | ($1.0m) | ($9.7m) | ($29.0m) | ($32.8m) | — | |
| Income (Loss) from Continuing Operations before Income Taxes, Domestic | — | — | — | — | — | — | $6.2m | — | ($181.1m) | ($359.3m) | ($374.0m) | |
| Income (Loss) from Continuing Operations before Income Taxes, Noncontrolling Interest | — | — | — | — | — | — | $6.2m | — | $329.8m | ($270.7m) | ($374.0m) | |
| Current Income Tax Expense (Benefit) | $47k | $16k | $3k | $4k | $11k | $1.2m | $30k | $15.9m | ($8.6m) | ($43.2m) | ($95.8m) | |
| Net income/(loss) from discontinued operations, net of income taxes | — | — | — | — | ($401.0m) | ($374.2m) | $32.2m | — | — | — | ($447.5m) | |
| Income Tax Expense (Benefit) | $47k | $16k | $3k | $4k | $11k | $1.2m | $30k | $15.9m | ($16.9m) | ($29.3m) | ($95.8m) | |
| Less: Net loss attributable to the non-controlling interest | — | — | ($3.8m) | ($5.7m) | ($1.8m) | ($2.0m) | ($2.0m) | ($960k) | ($397k) | $0 | — | |
| Net income / (loss) before taxes | ($7.9m) | ($1.6m) | ($7.2m) | ($9.5m) | $337k | ($7.9m) | $2.2m | $244.4m | $329.8m | ($270.7m) | ($447.5m) | |
| Net loss from discontinued operations attributable to non-controlling interest | — | — | — | — | ($1.8m) | ($2.0m) | ($2.0m) | — | — | — | — | |
| Net income / (loss) per share of Class A common stock | ||||||||||||
| Net income/(loss) available to shareholders of the Company | — | — | $47.4m | ($219.4m) | ($411.0m) | — | — | — | — | — | ($447.5m) | |
| Net loss attributable to common shareholders | ($8.0m) | ($1.9m) | ($7.5m) | ($9.8m) | ($2.1m) | ($8.7m) | $2.1m | ($2.8m) | ($2.0m) | ($2.8m) | — | |
| Net loss available to shareholders of the Company | — | — | — | ($219.4m) | ($411.0m) | ($384.3m) | — | — | — | — | — | |
| Net Income (Loss) Attributable to Parent | ($7.9m) |
($1.6m)
+79.85%
|
($7.2m)
-355.36%
|
($225.1m)
-3016.42%
|
($412.8m)
-83.40%
|
($386.3m)
+6.42%
|
$5.6m
+101.46%
|
$228.5m
+3953.82%
|
$346.7m
+51.73%
|
($241.3m)
-169.61%
|
($447.5m)
-85.43%
|
|
| Net Income (Loss) Attributable to Noncontrolling Interest | — | — | — | — | $1.8m | $2.0m | $2.0m | — | $0 | ($137.0m) | ($447.5m) | |
| -From continuing operation (in Dollars per share) | — | — | — | — | — | ($26.63) | $8.26 | ($1.89) | ($0.66) | ($0.80) | — | |
| -From discontinued operation (in Dollars per share) | — | — | — | — | ($6,454.62) | ($818.92) | $6.84 | ($0.01) | ($0.66) | ($0.36) | — | |
| Diluted (in dollars per share) | ($4.20) | ($0.45) | ($89.05) | ($8.16) | ($0.59) | ($1.47) | $0.20 | $0.60 | $0.84 | ($0.61) | — | |
| From continuing operation (in Dollars per share and Yuan Renminbi per share) | — | — | — | — | ($161.19) | ($30.15) | $0.49 | ($0.46) | ($0.65) | ($0.80) | — | |
| From discontinued operation (in Dollars per share and Yuan Renminbi per share) | — | — | — | — | ($5,456.60) | ($927.40) | $3.39 | ($0.01) | ($0.66) | ($0.36) | — | |
| Basic (in shares) | — | — | $85k | $1.2m | $3.6m | $5.9m | $10.2m | $105.7m | $120.8m | $159.2m | $187.7m | |
| Basic and diluted (in shares) | $1.9m | $4.1m | $4.2m | — | — | — | — | — | — | — | — | |
| Diluted (in shares) | — | — | $85k | $1.2m | $3.6m | $5.9m | $10.4m | $326.0m | $356.7m | $366.5m | $387.0m | |
| Weighted Average Number of Shares Outstanding, Basic | — | — | — | — | — | — | — | — | 120.8m | 159.2m | 187.7m | |
| Weighted Average Number of Shares Outstanding, Diluted | — | — | — | — | — | — | — | — | 356.7m | 366.5m | 387.0m | |
| Additional Financial Items | ||||||||||||
| (Gain) loss on classification as held for sale | — | — | — | — | — | — | — | $0 | $15.4m | ($24.6m) | — | |
| Amortization of debt discount | — | — | ($129k) | ($231k) | — | $0 | ($1.3m) | $94k | $2.5m | $1.2m | — | |
| Change in fair value of warrant liabilities | — | — | — | $13.4m | $1.0m | ($5.9m) | $3.7m | $575k | $76k | ($4k) | — | |
| Class A common stockholders of the Company | — | — | — | — | — | — | — | — | $116.3m | ($86.9m) | — | |
| Class B Unit holders of GDH LP | — | — | — | — | — | — | — | $152.7m | $230.5m | ($204.7m) | — | |
| Compensation and benefits | — | — | — | — | — | — | — | $219.3m | $265.6m | $299.9m | — | |
| Comprehensive income (loss) | — | — | $53.3m | ($225.1m) | ($412.8m) | ($386.3m) | $38.9m | $228.5m | $346.7m | ($245.9m) | — | |
| Comprehensive loss | — | — | — | ($225.1m) | ($412.8m) | ($386.3m) | — | — | — | — | — | |
| Deemed dividend on convertible preferred stock (Note 12) | — | — | — | — | ($2.3m) | ($2.0m) | $0 | — | — | — | — | |
| Depreciation and amortization | $1.3m | $582k | $356k | $620k | $968k | $1.2m | $1.6m | $1.5m | $1.1m | $779k | — | |
| Digital engagement services | $8.5m | $8.5m | — | — | — | — | — | — | — | — | — | |
| Discontinued operations | — | — | — | — | ($401.0m) | ($374.2m) | $4.7m | ($1.1m) | ($75.3m) | ($72.7m) | — | |
| Dividends on Series A convertible preferred stock | ($131k) | ($281k) | ($310k) | ($315k) | ($106k) | $0 | — | $0 | $0 | ($2.6m) | — | |
| Equity Securities without Readily Determinable Fair Value, Impairment Loss, Annual Amount | — | — | — | — | — | — | — | $0 | $7.0m | $19.2m | — | |
| Foreign currency exchange gain, net | — | — | $21k | ($19k) | ($4.1m) | ($5.4m) | $173k | — | — | — | — | |
| Gain on extinguishment of accounts payable | — | — | — | — | — | $0 | $406k | $0 | — | — | — | |
| Gains / (losses) from operations | — | — | — | — | — | — | — | $582.9m | $1.2b | $948.9m | — | |
| Gains/(losses) on disposal and closure of subsidiaries and branches | — | — | — | $583k | ($31.9m) | ($37.8m) | — | — | — | — | — | |
| Goodwill impairment | $0 | — | $4.9m | $3.7m | — | — | $0 | $7.5m | $0 | — | $979.5m | |
| Goodwill, Impairment Loss | — | — | — | — | — | — | — | — | $0 | $0 | $979.5m | |
| Government grant income (Note 10) | — | — | — | — | $960k | $88k | $0 | — | — | — | — | |
| Government grants | — | — | $7.8m | $5.8m | $28.1m | $8.0m | — | — | — | — | — | |
| Impairment of digital assets | — | — | — | — | — | — | — | $98.3m | $331.9m | $753.7m | — | |
| Income / (loss) for the period | ($7.8m) | ($1.6m) | ($7.2m) | ($9.5m) | $326k | ($6.7m) | $2.1m | $228.5m | $346.7m | ($241.3m) | — | |
| Income/(loss) from operations | — | — | $51.7m | ($227.7m) | ($400.8m) | — | — | ($43.5m) | ($74.0m) | ($160.9m) | $657.7m | |
| Loss from legal settlement | — | — | — | — | — | — | — | $0 | $2.4m | $0 | — | |
| Loss on abandonment of assets | — | — | — | — | — | — | — | $0 | $0 | $1.1m | — | |
| Loss on change in fair value of debt | — | — | — | — | — | — | — | $0 | $7.4m | $85.4m | — | |
| Loss on change in fair value of related party debt | — | — | — | — | — | — | — | $0 | $8.1m | $0 | — | |
| Loss on conversion of debt | — | — | — | — | — | — | — | $0 | $0 | $33.6m | — | |
| Managed service hosting | $1.3m | $1.0m | — | — | — | — | — | — | — | — | — | |
| Net gain/(loss) from continuing operations | — | — | — | — | ($11.8m) | ($12.1m) | $967k | ($2.8m) | ($2.0m) | ($158.3m) | — | |
| Noncontrolling interests | — | — | — | — | — | — | — | $0 | $0 | $45.8m | — | |
| Other comprehensive income (loss) | — | — | — | — | — | — | — | $0 | $0 | ($4.5m) | — | |
| Professional fees | — | — | — | — | — | — | — | $38.1m | $51.1m | $75.0m | — | |
| Realized gain/(loss) on exchange of digital assets | — | — | — | — | — | — | ($273k) | $34k | $713k | ($418k) | — | |
| Redemption of Series C Convertible Preferred Stock | — | — | — | — | — | — | — | — | $0 | ($331k) | — | |
| Selling Expense | — | — | — | — | — | — | — | — | $42.1b | $59.8b | — | |
| Stock-based compensation | — | — | — | — | — | $0 | $12.3m | — | — | — | — | |
| Subscription and perpetual licenses | $6.1m | $6.8m | — | — | — | — | — | — | — | — | — | |
| Technology | — | — | — | — | — | — | — | $20.1m | $30.5m | $46.9m | — | |
| Transaction expenses | — | — | — | — | — | — | — | $51.5b | $42.4b | $60.2b | — | |
| Unrealized gain / (loss) on notes payable - derivative | — | — | — | — | — | — | — | ($9.6m) | ($31.7m) | ($35.5m) | — |
Values abbreviated: b = billions, m = millions, k = thousands. Per share data in USD.