Bullish (BLSH) Net Cash Flow (2024 - 2026)
Bullish's (BLSH) quarterly Net Cash Flow came in at $7.9 million in Q2 2026, up 63.46% year-over-year from $4.8 million in Q2 2025, and down 66.94% quarter-over-quarter from $24.0 million in Q1 2026.
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Analysis
Bullish (BLSH) Net Cash Flow (2024 - 2026) Analysis & Trends
Bullish has disclosed Net Cash Flow across 3 years of filings, most recently posting $7.9 million for Q2 2026.
- In Q2 2026, Net Cash Flow rose 63.46% year-over-year to $7.9 million; the TTM figure through Jun 2026 stood at $102.8 million (down 23.26% YoY), while the FY2025 annual figure was $73.1 million, down 3.83% from the prior year.
- Net Cash Flow came in at $7.9 million for Q2 2026 at Bullish, down from $24.0 million in the prior quarter.
- In the past five years, Net Cash Flow ranged from a high of $151.6 million in Q4 2024 to a low of -$19.8 million in Q3 2024.
- Average Net Cash Flow over 3 years is $28.4 million, with a median of $18.4 million recorded in 2024.
- Year-over-year, Net Cash Flow tumbled 82.44% in 2025 and surged 999.62% in 2026.
- Over 3 years, Net Cash Flow stood at $151.6 million in 2024, then plunged by 82.44% to $26.6 million in 2025, then sank by 70.24% to $7.9 million in 2026.
- Per Business Quant data, the three most recent Net Cash Flow figures were $7.9 million in Q2 2026, $24.0 million in Q1 2026, and $26.6 million in Q4 2025.
Peer Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | NCF (Qtr) |
|---|---|---|---|---|---|
| 1 | Bitmine Immersion Technologies | 57.68 Bn | 57.34 Bn | 40.81 Mn | -539.25 Mn |
| 2 | Coinbase Global | 52.26 Bn | 43.47 Bn | 1.16 Bn | -2.77 Bn |
| 3 | PayPal Holdings | 45.26 Bn | 34.01 Bn | - | -499.00 Mn |
| 4 | Block | 44.88 Bn | 38.42 Bn | 3.17 Bn | -643.27 Mn |
| 5 | Iren | 35.80 Bn | 28.23 Bn | 103.89 Mn | 5.41 Bn |
| 6 | Corpay | 25.96 Bn | 19.27 Bn | 1.19 Bn | 1.42 Bn |
| 7 | Fiserv | 24.43 Bn | 23.83 Bn | 3.59 Bn | -235.00 Mn |
| 8 | Global Payments | 22.33 Bn | 17.57 Bn | 2.03 Bn | -434.74 Mn |
| 9 | Hut 8 | 12.62 Bn | 6.14 Bn | 48.04 Mn | 6.86 Bn |
| 10 | Bullish | 6.05 Bn | 5.99 Bn | 15.53 Mn | 7.92 Mn |
Historic Data
Download Data
Historic Data
| Date | Value |
|---|---|
| Jun 30, 2026 | 7.92 Mn |
| Mar 31, 2026 | 23.97 Mn |
| Dec 31, 2025 | 26.62 Mn |
| Sep 30, 2025 | 44.33 Mn |
| Jun 30, 2025 | 4.85 Mn |
| Mar 31, 2025 | -2.66 Mn |
| Dec 31, 2024 | -448,000.00 |
| Sep 30, 2024 | -19.82 Mn |
| Jun 30, 2024 | 18.37 Mn |
API Access
Bullish Net Cash Flow API
Pull this series into your own models, spreadsheets and apps with the Business Quant
Historical Metrics API. The request below matches the chart above — change the
frequency, period or values and it follows. Swap YOUR_API_KEY for your own key.
https://data.businessquant.com/historic?slug=net-cash-flow&ticker=BLSH&period=max&api_key=YOUR_API_KEYimport requests
url = "https://data.businessquant.com/historic"
params = {"slug": "net-cash-flow", "ticker": "BLSH", "period": "max", "api_key": "YOUR_API_KEY"}
data = requests.get(url, params=params).json()const res = await fetch("https://data.businessquant.com/historic?slug=net-cash-flow&ticker=BLSH&period=max&api_key=YOUR_API_KEY");
const data = await res.json();