Financials in USD. Standardized financial statements.
A compact view of how Bullish turns revenue into operating income and net income.
| Metric | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 |
|---|---|---|---|---|---|---|
| Revenue? | $244.97B | $250.26B | $116.51B | $72.90B | $1.32B | $0 |
| Revenue Growth? | -2.1% | +114.8% | +59.8% | +5415.8% | 0.0% | 0.0% |
| Cost of Revenue? | $244.90B | $250.26B | $116.53B | $72.90B | $2.37B | $0 |
| Gross Profit? | $74.08M | $5.28M | -$21.67M | -$6.55M | -$1.04B | $0 |
| Gross Margin? | +0.0% | +0.0% | -0.0% | -0.0% | -79.0% | 0.0% |
| Operating Expenses? | $23.43M | -$26.64M | -$31.88M | -$22.22M | $232.19M | $119.04M |
| Operating Income? | $50.66M | $31.92M | $10.21M | $15.67M | -$1.28B | -$119.04M |
| EBITDA? | -$725.85M | $131.65M | $1.31B | -$4.12B | -$1.27B | $0 |
| Income Before Tax | -$786.41M | $84.57M | $1.30B | -$4.24B | -$1.40B | -$119.02M |
| Income Tax Expense | -$944,000 | $5.00M | $1.46M | $1.20M | $263,000 | $0 |
| Net Income? | -$764.68M | $78.53M | $1.30B | -$4.25B | -$1.40B | -$119.02M |
| EPS? | $-5.99 | $0.54 | $8.89 | $-29.04 | $-9.59 | $-0.74 |
| Diluted EPS? | $-5.99 | $0.54 | $8.89 | $-29.04 | $-9.59 | $-0.74 |
Revenue, profitability, margins, EPS, and share-count trends over time.
Top-line demand and scale over time
Profit left after direct production costs
Core business profitability before financing and tax
Bottom-line profit after all expenses
Profit allocated to each diluted share
Share count trend that affects EPS quality
Gross, operating, and net margin quality