Bullish (BLSH) Gross Margin (2024 - 2026)

Bullish (BLSH) posted Gross Margin of 0.03% for Q4 2025, down 6.68% sequentially from 0.04% in Q3 2025, and little changed YoY from 0.03% in Q4 2024.

Analysis

Bullish (BLSH) Gross Margin (2024 - 2026) Analysis & Trends

Bullish has reported Gross Margin for 2 years, with the latest figure at 0.03% in Q4 2025.

Quarterly Gross Margin changed 0.0% year-over-year to 0.03% in Q4 2025, while the trailing twelve-month figure through Dec 2025 was 0.04% (changed N/A YoY) and the FY2025 annual result came in at 0.03%, down 1.0% from the prior year.
Gross Margin slipped to 0.03% in Q4 2025 per BLSH's latest filing, from 0.04% in the prior quarter.
Over five years, Gross Margin peaked at 0.04% in Q3 2024 and troughed at 0.03% in Q2 2025.

Peer Set

#	Company	Market Cap	Enterprise Value	Gross Profit (Qtr)	Gross Margin (Qtr)
1	Microsoft	3,718.29 Bn	3,585.54 Bn	60.48 Bn	67.20%
2	Oracle	452.14 Bn	420.24 Bn	-	-
3	Palantir Technologies	418.25 Bn	408.84 Bn	1.64 Bn	84.66%
4	Palo Alto Networks	265.90 Bn	262.79 Bn	2.03 Bn	67.55%
5	CrowdStrike Holdings	217.15 Bn	212.14 Bn	1.10 Bn	74.57%
6	Fortinet	114.54 Bn	110.47 Bn	1.64 Bn	80.24%
7	Cloudflare	98.54 Bn	94.37 Bn	499.52 Mn	71.76%
8	Synopsys	75.44 Bn	71.83 Bn	1.80 Bn	72.57%
9	Block	49.56 Bn	43.13 Bn	3.17 Bn	47.84%
10	Bullish	4.59 Bn	4.49 Bn	15.53 Mn	0.05%

Historic Data

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