Bullish income statement

In fiscal 2025, Bullish reported revenue of $244.81bn, down 2.2% on the year before and net income of −$765m, or −$5.99 per diluted share. Every line below comes from the company's 10-K and 10-Q filings; column headings link to the filing.

Income statement

US$ billions unless shown otherwise. Fiscal years, plus the last twelve months (LTM) when newer.

Bullish: income statement, annual
Fiscal year	2023Dec 2023	2024Dec 2024	2025Dec 2025
Revenue	116.5	250.2	244.8
Cost of revenue	116.4	250.1	244.7
Gross profit	0.1	0.1	0.1
General and administrative	0.1	0.2	0.2
Interest expense	0.0	0.0	0.1
Income before tax	1.3	0.1	−0.8
Income tax	0.0	0.0	−0.0
Net income	1.3	0.1	−0.8
Diluted EPS	$10.63	$0.68	−$5.99
Diluted shares (average)	122m	115m	128m

EBITDA is operating income plus depreciation and amortisation. EPS and share counts are restated for stock splits. A dash means the company did not report the line for that period; expense lines are shown as reported, so they need not add up to the totals when a company reports other items between them.

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Figures from Bullish's SEC filings (10-K and 10-Q), retrieved November 2, 2026. How we read and check them: methodology and data sources. Not investment advice. Back to Bullish.