NASDAQ$GLXY

Galaxy Digital · Q4 2025 earnings

Q4 2025 earnings · · Before market open · Investor relations

Briefing

Galaxy Digital reported Q4 2025 net loss of $482M with diluted EPS of $(1.08).

Fourth-quarter net loss was $482 million ($1.08 diluted EPS), driven primarily by lower digital asset prices and mark-to-market impacts. Full-year adjusted gross profit was $426 million; total equity was $3.0 billion with $2.6 billion in cash and stablecoins at year-end.

  • Q4 net loss $482M; digital asset marks weighed on GAAP.
  • Record trading adjusted gross profit in Global Markets.
  • Asset Management AUM $12B; $2.0B net inflows.
  • Raised $325M equity and strengthened balance sheet.

Headline financials

Total Revenue

$10.2B

No prior period
EPS (adj)

-$1.08

No prior period
Adjusted EBITDA

-$518M

No prior period
Total Equity

$3.03B

No prior period
Cash & Stablecoins

$2.61B

No prior period
Digital Assets AGP

$51.1M

No prior period
Digital Assets EBITDA

-$29.3M

No prior period
Treasury & Corp AGP

-$454M

No prior period
Treasury & Corp EBITDA

-$488M

No prior period
Global Markets AGP

$30M

No prior period
Avg Loan Book

$1.8B

No prior period
Trading Counterparties

1.6K

No prior period
AM & Infra AGP

$21M

No prior period
Assets on Platform

$12B

No prior period
ETF Assets

$2.84B

No prior period
Alternatives Assets

$3.58B

No prior period
Assets Under Stake

$4.98B

No prior period
Net Income

-$482M

No prior period
Operating Income

-$556M

No prior period

Revenue & EPS history

Galaxy Digital Inc · Revenue · Quarterly

$10.2B

Q4 2025
Beat estimate in 1 of 2 quarters(50%)
ActualEstimate

Forward guidance

The quarterly filing discusses operating priorities, capital returns, and sector risks.

Tailwinds

  • MD&A highlights liquidity, capital, and core business trends.
  • Segment commentary supports the earnings narrative.

Headwinds

  • Macro, rates, or input costs may pressure near-term margins.
  • One-time items can affect year-over-year comparability.

Historical earnings impact

How earnings announcements have historically affected this stock's price.

Avg. return before/after earnings

Based on 4 quarterly earnings reports · overlaid with Q4 2025

Historical avgQ4 2025

-2.4%

Avg return

Earnings day

-5.9%

Avg return

5 days after

-22.1%

Avg return

30 days after

50%

2 / 4 earnings

Positive

+8.1%

Q3 2025

Best reaction

-16.9%

Q4 2025

Worst reaction

Earnings price reactions
QuarterReport dateReaction (Day 0)+5 days+30 days
Q1 2026+3.2%+5.1%-14.2%
Q4 2025-16.9%-25.3%-14.0%
Q3 2025+8.1%+0.4%-39.4%
Q2 2025-4.2%-3.8%-20.7%
Q1 2025

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