Bullish (BLSH) Free Cash Flow (2024 - 2025)

Bullish (BLSH) posted Free Cash Flow of -$16.8 million for Q4 2025, up 62.18% sequentially from -$44.5 million in Q3 2025, and down 144.36% YoY from $38.0 million in Q4 2024.

Bullish (BLSH) Free Cash Flow (2024 - 2025) Analysis & Trends

Bullish has reported Free Cash Flow for 2 years, with the latest figure at -$16.8 million in Q4 2025.

  • Quarterly Free Cash Flow fell 144.36% year-over-year to -$16.8 million in Q4 2025, while the trailing twelve-month figure through Dec 2025 was -$6.3 million (changed N/A YoY) and the FY2025 annual result came in at $18.7 million, up 161.58% from the prior year.
  • Free Cash Flow advanced to -$16.8 million in Q4 2025 per BLSH's latest filing, from -$44.5 million in the prior quarter.
  • Over five years, Free Cash Flow peaked at $38.0 million in Q4 2024 and troughed at -$44.5 million in Q3 2025.
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Peer Comparison

# Company Market Cap Enterprise Value Gross Profit (Qtr) Free Cash Flow (Qtr)
1 Microsoft 3,679.34 Bn 3,546.58 Bn 60.48 Bn 19.64 Bn
2 Oracle 433.50 Bn 402.15 Bn - -1.87 Bn
3 Palantir Technologies 418.20 Bn 408.90 Bn 1.64 Bn 1.20 Bn
4 Palo Alto Networks 312.41 Bn 309.30 Bn 2.03 Bn 788.00 Mn
5 Fortinet 117.38 Bn 113.31 Bn 1.64 Bn 965.60 Mn
6 Cloudflare 101.74 Bn 97.57 Bn 499.52 Mn 67.60 Mn
7 Synopsys 80.70 Bn 78.49 Bn 1.77 Bn 775.42 Mn
8 CoreWeave 58.00 Bn 52.46 Bn 1.70 Bn -5.74 Bn
9 Block 49.79 Bn 43.33 Bn 3.17 Bn -7.56 Bn
10 Bullish 3.68 Bn 3.66 Bn 21.51 Mn 49.55 Mn

Historic Data

Download Data
DateValue
Dec 31, 2025 -16.84 Mn
Dec 31, 2025 -16.84 Mn
Sep 30, 2025 -44.53 Mn
Sep 30, 2025 -44.53 Mn
Jun 30, 2025 17.06 Mn
Jun 30, 2025 17.06 Mn
Dec 31, 2024 37.97 Mn
Dec 31, 2024 37.97 Mn
Sep 30, 2024 9.87 Mn
Sep 30, 2024 9.87 Mn
Jun 30, 2024 13.50 Mn
Jun 30, 2024 13.50 Mn