Bullish (BLSH) EBITDA (2024 - 2025)
Bullish (BLSH) posted EBITDA of $44.4 million for Q4 2025, up 55.42% sequentially from $28.6 million in Q3 2025, and up 181.85% YoY from $15.8 million in Q4 2024.
Bullish (BLSH) EBITDA (2024 - 2025) Analysis & Trends
Bullish has reported EBITDA for 2 years, with the latest figure at $44.4 million in Q4 2025.
- Quarterly EBITDA rose 181.85% year-over-year to $44.4 million in Q4 2025, while the trailing twelve-month figure through Dec 2025 was $96.9 million (changed N/A YoY) and the FY2025 annual result came in at $94.3 million, up 80.94% from the prior year.
- EBITDA grew to $44.4 million in Q4 2025 per BLSH's latest filing, from $28.6 million in the prior quarter.
- Over five years, EBITDA peaked at $44.4 million in Q4 2025 and troughed at $7.7 million in Q3 2024.
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Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | EBITDA (Qtr) |
|---|---|---|---|---|---|
| 1 | Microsoft | 3,679.34 Bn | 3,546.58 Bn | 60.48 Bn | 40.60 Bn |
| 2 | Oracle | 433.50 Bn | 402.15 Bn | - | 6.13 Bn |
| 3 | Palantir Technologies | 418.20 Bn | 408.90 Bn | 1.64 Bn | 912.00 Mn |
| 4 | Palo Alto Networks | 312.41 Bn | 309.30 Bn | 2.03 Bn | -183.00 Mn |
| 5 | Fortinet | 117.38 Bn | 113.31 Bn | 1.64 Bn | 689.30 Mn |
| 6 | Cloudflare | 101.74 Bn | 97.57 Bn | 499.52 Mn | -205.70 Mn |
| 7 | Synopsys | 80.70 Bn | 78.49 Bn | 1.77 Bn | 203.05 Mn |
| 8 | CoreWeave | 58.00 Bn | 52.46 Bn | 1.70 Bn | -49.00 Mn |
| 9 | Block | 49.79 Bn | 43.33 Bn | 3.17 Bn | 446.87 Mn |
| 10 | Bullish | 3.68 Bn | 3.66 Bn | 21.51 Mn | 44.45 Mn |
Historic Data
Download Data| Date | Value |
|---|---|
| Dec 31, 2025 | 44.45 Mn |
| Sep 30, 2025 | 28.60 Mn |
| Jun 30, 2025 | 8.10 Mn |
| Dec 31, 2024 | 15.77 Mn |
| Sep 30, 2024 | 7.70 Mn |
| Jun 30, 2024 | 14.70 Mn |