Overview
- Shares fell about 13% to $22.83 by 10:20 a.m. ET after the results were released.
- The quarter reflected softer digital asset markets and an estimated 40% decline in trading volumes from the prior quarter.
- Galaxy ended 2025 with $2.6 billion in cash and stablecoins, up 36% sequentially after raising $325 million in equity and $1.3 billion in senior notes.
- For the full year, the company reported $426 million in adjusted gross profit and a net loss of $241 million.
- Management highlighted record 2025 trading performance, $2 billion in net inflows lifting assets to $12 billion, and approved Texas data-center capacity exceeding 1.6 gigawatts.