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GLXY

Galaxy Digital

GLXY

Galaxy Digital • NASDAQ
$26.59 ▲ 1.33% (+0.35)
Market Cap $8.82 B
52w High $45.92
52w Low $17.40
Dividend Yield 0%
P/E 47.48
Volume 3.05M
Outstanding Shares 331.69M

Income Statement

Period Revenue Operating Expense Net Income Net Profit Margin Earnings Per Share EBITDA
Q3-2025 $0 ▼ $0 ▲ $0 ▼ 0% ▼ $1.19 ▲ $0 ▼
Q2-2025 $8.662B ▼ $-353.062M ▼ $25.936M ▲ 0.299% ▲ $0.1 ▲ $56.401M ▼
Q1-2025 $12.976B ▲ $13.191B ▲ $-295.432M ▼ -2.277% ▼ $-2.36 ▼ $12.856B ▲
Q4-2024 $0 $722K ▼ $34.721M ▲ 0% $0.28 ▲ $-722K ▲
Q3-2024 $0 $1.748M $-16.429M 0% $-0.13 $-1.748M

Balance Statement

Period Cash & Short-term Total Assets Total Liabilities Total Equity
Q3-2025 $1.137B ▲ $11.523B ▲ $8.35B ▲ $1.762B ▼
Q2-2025 $691.331M ▲ $9.086B ▲ $6.462B ▲ $2.624B ▲
Q1-2025 $509.438M ▲ $6.336B ▲ $4.435B ▲ $1.902B ▲
Q4-2024 $1.812M ▲ $1.121B ▲ $98.189M ▼ $1.023B ▲
Q3-2024 $1.735M $1.059B $98.927M $959.632M

Cash Flow Statement

Period Net Income Cash From Operations Cash From Investing Cash From Financing Net Change Free Cash Flow
Q3-2025 $505.057M ▲ $427.659M ▲ $-367.892M ▲ $0 $0 $189.609M ▲
Q2-2025 $-27.154M ▲ $169.876M ▲ $-406.677M ▼ $0 $0 $-134.941M ▼
Q1-2025 $-34.839M ▼ $159.413M ▲ $64.1M ▲ $0 ▲ $0 ▼ $67.771M ▲
Q4-2024 $34.721M ▲ $77K ▲ $6.636M ▲ $-6.636M ▼ $77K ▲ $77K ▲
Q3-2024 $-16.43M $-3.539M $440K $3.119M $20K $-3.539M

Five-Year Company Overview

Income Statement

Income Statement Galaxy Digital’s reported financials show a business still in transition. Meaningful revenue only shows up in the most recent year, suggesting earlier results were driven more by investment gains, trading, and revaluations than by steady, recurring business activity. Profitability has swung between profit and loss over the last few years, which is typical for a firm tied to volatile crypto and capital markets. Recent results are modestly profitable on paper, but the pattern is lumpy and not yet showing a smooth, predictable earnings base. Overall, the income statement reflects a company that is building out its model while still highly exposed to market swings.

Balance Sheet

Balance Sheet The balance sheet has expanded over time, with total assets and equity both growing from earlier years. The company reports no debt in this snapshot, which reduces financial strain and gives it more flexibility, especially during downturns in crypto or risk assets. However, reported cash balances appear quite low relative to total assets, which suggests a reliance on non‑cash assets and potentially on future profitability or financing to support operations and growth. In plain terms, the balance sheet looks equity‑heavy and unlevered, but not especially cash‑rich.

Cash Flow

Cash Flow Cash flow is the weak spot in this picture. Operating cash flow has been negative for several years, and free cash flow is also negative, including in the most recent period. That means the business is not yet self‑funding in cash terms, even in years when it shows an accounting profit. There has been some spending on capital projects recently, which may reflect the build‑out of infrastructure like data centers. The key takeaway is that Galaxy Digital is still in an investment and build phase, and its cash generation is not yet matching its growth ambitions.

Competitive Edge

Competitive Edge Galaxy Digital is positioning itself as a bridge between traditional finance and the digital asset world, with an emphasis on institutional clients. Its edge comes from a mix of trading, asset management, advisory, and infrastructure services under one roof, which is different from pure‑play crypto exchanges or single‑line businesses. The Helios data center in Texas and the large contracted capacity with an AI computing partner give it a hard‑to‑replicate infrastructure asset in the high‑performance computing space. Its focus on regulatory compliance and institutional relationships adds another layer of differentiation. Combined, these factors give Galaxy Digital a broader, more diversified stance than many crypto‑only competitors, though it still operates in a very competitive and fast‑moving field.

Innovation and R&D

Innovation and R&D Innovation is a core part of Galaxy Digital’s strategy. The transformation of the Helios facility into a large‑scale AI and high‑performance computing campus is a major strategic bet that could create a recurring, infrastructure‑based revenue stream. On the financial side, the GalaxyOne platform aims to bundle trading, yield products, and access to traditional assets in a single digital interface, targeting both institutions and sophisticated individuals. The firm is also active in blockchain infrastructure services such as staking, tokenization, and custody, and is exploring newer areas like on‑chain credit, prediction markets, and novel crypto‑native instruments tied to equities. Its venture investing arm adds another layer of innovation by giving it early exposure to emerging technologies and business models in the digital asset ecosystem.

Summary

Overall, Galaxy Digital looks like a company in the middle of a strategic evolution: moving from being mainly a crypto‑ and trading‑driven financial firm toward a more diversified platform that includes AI data centers, institutional services, and digital infrastructure. The income statement shows improving but still volatile profitability, while the balance sheet is equity‑funded and largely free of debt but not flush with cash. Persistent negative cash flow underlines that the business is still in a build‑out phase. Competitively, its combination of institutional finance capabilities, blockchain infrastructure, and AI computing assets gives it a differentiated position, but also ties its fortunes to two highly cyclical, rapidly changing arenas: digital assets and AI. Execution on large projects like Helios, managing regulatory and market risks, and turning innovation into stable, recurring cash earnings are the main challenges and opportunities visible from this data.

NEWS

October 29, 2025 · 7:00 AM UTC

Galaxy Integrates with Coinbase Prime to Expand Institutional Access to Secure and Scalable Staking Solutions

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October 28, 2025 · 7:00 AM UTC

Galaxy Prices Upsized $1.15 Billion Exchangeable Senior Notes Offering

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October 27, 2025 · 4:03 PM UTC

Galaxy Announces Private Offering of $1.0 Billion of Exchangeable Senior Notes

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October 21, 2025 · 7:46 AM UTC

Galaxy Announces Third Quarter 2025 Financial Results

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October 16, 2025 · 7:30 AM UTC

K Wave Media Founders Gift 10 percent of Total Shares Outstanding to Advance Financial Restructuring, Reduce Dilution, and Strengthen Balance Sheet

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