Bullish (BLSH) EBIAT (2024 - 2025)
Bullish recorded quarterly EBIAT of -$563.6 million in Q4 2025, down 3167.03% quarter-over-quarter from $18.4 million in Q3 2025, and down 455.65% year-over-year from $158.5 million in Q4 2024.
Bullish's EBIAT history runs 2 years deep, the most recent figure standing at -$563.6 million for Q4 2025.
- In Q4 2025, EBIAT fell 455.65% year-over-year to -$563.6 million; the TTM figure through Dec 2025 stood at $107.9 billion (changed N/A YoY), while the FY2025 annual figure was -$785.5 million, down 1087.22% from the prior year.
- EBIAT came in at -$563.6 million for Q4 2025 at Bullish, down from $18.4 million in the prior quarter.
- In the past five years, EBIAT ranged from a high of $108.3 billion in Q2 2025 to a low of -$116.4 billion in Q2 2024.
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | EBIAT (Qtr) |
|---|---|---|---|---|---|
| 1 | Microsoft | 3,425.08 Bn | 3,346.81 Bn | 56.06 Bn | 31.78 Bn |
| 2 | Oracle | 712.03 Bn | 673.46 Bn | 15.14 Bn | 3.72 Bn |
| 3 | Palantir Technologies | 384.58 Bn | 376.66 Bn | 1.42 Bn | 870.53 Mn |
| 4 | Palo Alto Networks | 208.80 Bn | 204.26 Bn | 1.91 Bn | 432.00 Mn |
| 5 | CrowdStrike Holdings | 195.63 Bn | 192.58 Bn | 993.68 Mn | 60.12 Mn |
| 6 | Fortinet | 108.69 Bn | 105.40 Bn | 1.49 Bn | 534.50 Mn |
| 7 | Cloudflare | 95.27 Bn | 94.32 Bn | 455.60 Mn | -22.93 Mn |
| 8 | Synopsys | 93.41 Bn | 93.30 Bn | 1.77 Bn | 64.72 Mn |
| 9 | CoreWeave | 65.84 Bn | 63.57 Bn | 2.01 Bn | -740.00 Mn |
| 10 | Bullish | 4.10 Bn | 4.01 Bn | -64,323,503.65 Bn | -563.57 Mn |
Historic Data
Download Data| Date | Value |
|---|---|
| Dec 31, 2025 | -563.57 Mn |
| Sep 30, 2025 | 18.38 Mn |
| Jun 30, 2025 | 108.27 Bn |
| Dec 31, 2024 | 158.46 Mn |
| Jun 30, 2024 | -116.39 Bn |