BTGO
BTGO
BitGo Holdings, Inc.Income Statement
| Period | Revenue | Operating Expense | Net Income | Net Profit Margin | Earnings Per Share | EBITDA |
|---|---|---|---|---|---|---|
| Q3-2025 | $5.81B ▲ | $46.34M ▲ | $6.84M ▼ | 0.12% ▼ | $0.06 ▲ | $32.57M ▼ |
| Q4-2024 | $1.14B ▲ | $19.79M ▲ | $48.99M ▲ | 4.3% ▲ | $0 | $155.49M ▲ |
| Q3-2024 | $817.83M | $13.85M | $-3.28M | -0.4% | $0 | $-851K |
What's going well?
Revenue growth is off the charts, with sales more than quadrupling in one quarter. Operating expenses are growing much slower than revenue, showing improving efficiency.
What's concerning?
Despite massive sales growth, profits dropped sharply and margins are razor-thin. Earnings are heavily influenced by non-operating items, making the results hard to rely on.
Balance Statement
| Period | Cash & Short-term | Total Assets | Total Liabilities | Total Equity |
|---|---|---|---|---|
| Q3-2025 | $3.76B | $4.18B | $3.81B | $365.56M |
What's financially strong about this company?
BTGO has a huge cash pile and short-term investments, very little debt, and almost all assets are highly liquid. There is no goodwill or risky intangible assets, making the balance sheet very safe.
What are the financial risks or weaknesses?
Shareholder equity is a small slice of the total, meaning most funding is from liabilities. The company also has very little invested in physical assets, which could limit growth or operational flexibility.
Cash Flow Statement
| Period | Net Income | Cash From Operations | Cash From Investing | Cash From Financing | Net Change | Free Cash Flow |
|---|---|---|---|---|---|---|
| Q3-2025 | $22.67M ▼ | $11.68M ▼ | $-43.26M ▲ | $534.48M ▲ | $502.89M ▲ | $9.47M ▲ |
| Q4-2024 | $129.4M ▲ | $22.11M ▲ | $-52.81M ▼ | $84.62M ▲ | $53.91M ▲ | $944K ▲ |
| Q3-2024 | $-3.75M | $1.45M | $3.28M | $-9.58M | $-4.84M | $469K |
What's strong about this company's cash flow?
The company now has $2.77 billion in cash, giving it a strong safety net. Free cash flow improved sharply as capital spending dropped, and working capital moves helped boost cash in the short term.
What are the cash flow concerns?
Core operating cash flow and profits are falling, and the big cash increase comes almost entirely from new debt and financing, not the business itself. This reliance on outside money may not be sustainable.
About BitGo Holdings, Inc.
https://www.bitgo.comBitgo Holdings, Inc. operates as a digital asset infrastructure company that allows institutional clients to secure, manage, utilize, and create digital assets through its technology platform.
Income Statement
| Period | Revenue | Operating Expense | Net Income | Net Profit Margin | Earnings Per Share | EBITDA |
|---|---|---|---|---|---|---|
| Q3-2025 | $5.81B ▲ | $46.34M ▲ | $6.84M ▼ | 0.12% ▼ | $0.06 ▲ | $32.57M ▼ |
| Q4-2024 | $1.14B ▲ | $19.79M ▲ | $48.99M ▲ | 4.3% ▲ | $0 | $155.49M ▲ |
| Q3-2024 | $817.83M | $13.85M | $-3.28M | -0.4% | $0 | $-851K |
What's going well?
Revenue growth is off the charts, with sales more than quadrupling in one quarter. Operating expenses are growing much slower than revenue, showing improving efficiency.
What's concerning?
Despite massive sales growth, profits dropped sharply and margins are razor-thin. Earnings are heavily influenced by non-operating items, making the results hard to rely on.
Balance Statement
| Period | Cash & Short-term | Total Assets | Total Liabilities | Total Equity |
|---|---|---|---|---|
| Q3-2025 | $3.76B | $4.18B | $3.81B | $365.56M |
What's financially strong about this company?
BTGO has a huge cash pile and short-term investments, very little debt, and almost all assets are highly liquid. There is no goodwill or risky intangible assets, making the balance sheet very safe.
What are the financial risks or weaknesses?
Shareholder equity is a small slice of the total, meaning most funding is from liabilities. The company also has very little invested in physical assets, which could limit growth or operational flexibility.
Cash Flow Statement
| Period | Net Income | Cash From Operations | Cash From Investing | Cash From Financing | Net Change | Free Cash Flow |
|---|---|---|---|---|---|---|
| Q3-2025 | $22.67M ▼ | $11.68M ▼ | $-43.26M ▲ | $534.48M ▲ | $502.89M ▲ | $9.47M ▲ |
| Q4-2024 | $129.4M ▲ | $22.11M ▲ | $-52.81M ▼ | $84.62M ▲ | $53.91M ▲ | $944K ▲ |
| Q3-2024 | $-3.75M | $1.45M | $3.28M | $-9.58M | $-4.84M | $469K |
What's strong about this company's cash flow?
The company now has $2.77 billion in cash, giving it a strong safety net. Free cash flow improved sharply as capital spending dropped, and working capital moves helped boost cash in the short term.
What are the cash flow concerns?
Core operating cash flow and profits are falling, and the big cash increase comes almost entirely from new debt and financing, not the business itself. This reliance on outside money may not be sustainable.
CEO
Michael A. Belshe
Compensation Summary
(Year )
Upcoming Earnings
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Ratings Snapshot
Rating : B-