Bullish (BLSH) EBITDA (2024 - 2025)
Bullish (BLSH) reported EBITDA of $44.4 million for Q4 2025, up 181.85% on a YoY basis from $15.8 million in Q4 2024, and up 55.42% sequentially from $28.6 million in Q3 2025.
Bullish (BLSH) EBITDA (2024 - 2025) Analysis & Trends
Bullish (BLSH) has 2 years of EBITDA data on file, last reported at $44.4 million in Q4 2025.
- For the quarter ending Q4 2025, EBITDA rose 181.85% year-over-year to $44.4 million; the trailing twelve-month figure through Dec 2025 stood at $96.9 million (changed N/A YoY), and the FY2025 full-year result was $94.3 million, up 80.94% from the prior year.
- EBITDA grew to $44.4 million in Q4 2025, from $28.6 million in the prior quarter.
- In the past five years, EBITDA ranged from a high of $44.4 million in Q4 2025 to a low of $7.7 million in Q3 2024.
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Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | EBITDA (Qtr) |
|---|---|---|---|---|---|
| 1 | Microsoft | 2,842.90 Bn | 2,718.46 Bn | 56.06 Bn | 38.40 Bn |
| 2 | PagSeguro Digital | 2,572.26 Bn | 2,572.26 Bn | 358.92 Mn | 722.41 Mn |
| 3 | Oracle | 329.59 Bn | 297.69 Bn | - | 6.13 Bn |
| 4 | Repay Holdings | 314.63 Bn | 314.48 Bn | - | - |
| 5 | Palantir Technologies | 294.47 Bn | 286.44 Bn | 1.42 Bn | 754.00 Mn |
| 6 | Palo Alto Networks | 227.51 Bn | 222.98 Bn | 1.91 Bn | 397.00 Mn |
| 7 | CrowdStrike Holdings | 183.28 Bn | 180.18 Bn | 993.68 Mn | 13.79 Mn |
| 8 | Fortinet | 112.44 Bn | 109.14 Bn | 1.49 Bn | 580.00 Mn |
| 9 | Cloudflare | 92.78 Bn | 91.83 Bn | 455.60 Mn | -61.99 Mn |
| 10 | Bullish | 3.08 Bn | 2.99 Bn | - | 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 |