Bullish (BLSH) Cost of Revenue (2024 - 2025)

Bullish's (BLSH) quarterly Cost of Revenue came in at $64.3 billion in Q4 2025, down 2.54% year-on-year from $66.0 billion in Q4 2024, and up 54.68% quarter-over-quarter from $41.6 billion in Q3 2025.

Bullish (BLSH) Cost of Revenue (2024 - 2025) Analysis & Trends

Bullish has disclosed Cost of Revenue across 2 years of filings, most recently posting $64.3 billion for Q4 2025.

  • Cost of Revenue for Q4 2025 came in at $64.3 billion, down 2.54% year-over-year; the trailing twelve-month figure through Dec 2025 was $172.0 billion (changed N/A YoY), and the FY2025 annual result was $244.7 billion, down 2.15% from the prior year.
  • Cost of Revenue came in at $64.3 billion for Q4 2025 at Bullish, up from $41.6 billion in the prior quarter.
  • In the past five years, Cost of Revenue ranged from a high of $66.0 billion in Q4 2024 to a low of $49.6 million in Q2 2024.
Generated on {Timestamp} © BusinessQuant.com
Generated on {Timestamp} Powered by BusinessQuant Logo

Peer Comparison

# Company Market Cap Enterprise Value Gross Profit (Qtr) Cost of Rev (Qtr)
1 Microsoft 2,819.83 Bn 2,741.56 Bn 56.06 Bn 6.81 Bn
2 Alarum Technologies 1,056.91 Bn 1,042.76 Bn 7.23 Mn 4.48 Mn
3 Oracle 530.68 Bn 492.11 Bn 15.14 Bn 2.05 Bn
4 Palantir Technologies 306.85 Bn 298.93 Bn 1.42 Bn 215.80 Mn
5 Palo Alto Networks 199.03 Bn 194.49 Bn 1.91 Bn 823.00 Mn
6 CrowdStrike Holdings 170.56 Bn 167.51 Bn 993.68 Mn 463.58 Mn
7 Fortinet 106.91 Bn 103.62 Bn 1.49 Bn 636.30 Mn
8 Synopsys 86.43 Bn 86.31 Bn 1.77 Bn 396.38 Mn
9 Cloudflare 79.42 Bn 78.48 Bn 455.60 Mn 184.16 Mn
10 Bullish 3.08 Bn 3.00 Bn 21.51 Mn 64.32 Bn

Historic Data

Download Data
DateValue
Dec 31, 2025 64.32 Bn
Dec 31, 2025 64.32 Bn
Sep 30, 2025 41.58 Bn
Sep 30, 2025 41.58 Bn
Jun 30, 2025 58.62 Mn
Jun 30, 2025 58.62 Mn
Dec 31, 2024 66.00 Bn
Dec 31, 2024 66.00 Bn
Sep 30, 2024 54.17 Bn
Sep 30, 2024 54.17 Bn
Jun 30, 2024 49.56 Mn
Jun 30, 2024 49.56 Mn