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Earnings

Galaxy Announces Fourth Quarter and Full Year 2025 Financial Results

By The Northwire Desk — AI Analysis Feb 03, 2026 · 07:00 GLXY · 36.19 GALAXY DIGITAL INC CLASS A COMMON STOCK
GLXY · Price

Executive Summary

  • Galaxy Digital reported a Q4 2025 net loss of $482 million (diluted EPS $(1.08)) and a full‑year 2025 net loss of $241 million (diluted EPS $(0.61)), driven by lower digital‑asset prices and one‑time costs.
  • Total equity rose to $3.0 billion (+38% YoY), supported by a $325 million equity raise and a $1.3 billion exchangeable senior notes offering.
  • Operational highlights include completion of the ERCOT interconnection study (additional 830 MW approved at Helios), acquisition of staking‑software firm Alluvial Finance, and record adjusted gross profit in Global Markets despite a sharp decline in trading volumes.

Key Details

  • Financial Highlights – Q4 2025
  • Net loss: $(482) M; Adjusted EPS: $(1.08)
  • Adjusted gross profit (Digital Assets): $51 M; Adjusted EBITDA: $(29) M

  • Cash & stablecoins: $2.6 B (up 36% QoQ)

  • Full‑Year 2025 Results

  • Net loss: $(241) M; Adjusted EPS: $(0.61)
  • Adjusted gross profit (Digital Assets): $505 M; Adjusted EBITDA: $247 M

  • Total assets: $11.35 B (↑ 59% YoY); Equity: $3.03 B

  • Capital Raising & Debt

  • Equity capital raised: $325 M (purpose: growth initiatives, general corporate)

  • Exchangeable senior notes offering: $1.3 B (terms not disclosed)

  • Acquisitions / Corporate Updates

  • Acquired Alluvial Finance, making Galaxy the Development Company for Liquid Collective (liquid‑staking protocol).

  • Completed ERCOT interconnection studies; received approval for an additional 830 MW at Helios, bringing total approved capacity to >1.6 GW.

  • Segment Performance

  • Global Markets: Adjusted gross profit Q4 $30 M (down sharply from prior quarter); trading volumes ↓ ≈40%; loan book size modestly up to $1.795 B.
  • Asset Management & Infrastructure Solutions: Adjusted gross profit Q4 $21 M; AUM $6.4 B, assets under stake $5.0 B (both down QoQ due to price depreciation).

  • Data Centers (Helios): On track to deliver 133 MW to CoreWeave in H1 2026; Phase I construction substantially complete.

  • Earnings Call & Investor Outreach

  • Conference call held Feb 3 2026, 8:30 AM ET; webcast available live and on‑demand through March 3 2026.
  • Earnings AMA scheduled for Feb 10 2026, 11:00 AM ET via X Spaces.

Notable Quotes

  • (No direct CEO/President quotes were included in the release.)
Read the original news release →

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