BitGo Q2 revenue jumps on higher asset sales

Bitgo Holdings

12/08/2026 21:24

Overview
Digital asset infrastructure firm's Q2 revenue rose 80% yr/yr, driven by higher asset sales
Company posted Q2 net loss, reversing prior-year profit due to unrealized losses on digital assets
BitGo authorized $50 mln share repurchase, expects $15 mln in annualized cash savings

Outlook
Company did not provide specific financial guidance for the current quarter or full year

Result Drivers
DIGITAL ASSET SALES - Revenue growth was mainly driven by higher digital asset sales activity, though margins fell due to lower spreads and product mix changes
UNREALIZED DIGITAL ASSET LOSSES - Net loss was primarily due to an $18.8 mln unrealized loss on digital assets, compared with a $55.8 mln unrealized gain in the prior-year period
COST REDUCTIONS - Company sharpened investment priorities and expects about $15 mln in annualized cash savings from operating model changes

Company press release: ID:nBw81HrGLa

Key Details
Metric
Beat/Miss
Actual
Consensus Estimate
Q2 Revenue
 
$4.33 bln
 
Q2 Loss Per Share
 
$0.16
 
Q2 Net Loss
 
$19 mln
 
Q2 Adjusted EBITDA
 
-$4.20 mln
 

Analyst Coverage
The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 11 "strong buy" or "buy", 2 "hold" and no "sell" or "strong sell"
The average consensus recommendation for the business support services peer group is "buy"
Wall Street's median 12-month price target for BitGo Holdings Inc is $15.00, about 202.4% above its August 11 closing price of $4.96

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Aug 11 - Fold Q2 revenue falls, misses estimates as bitcoin prices pressure activity
Aug 10 - Strive Q2 net loss widens on bitcoin value drop

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(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)