Galaxy Digital (GLXY) Cost of Revenue (2024 - 2026)
Galaxy Digital (GLXY) posted Cost of Revenue of $180.7 million for Q2 2026, up 20.97% on a QoQ basis from $149.3 million in Q1 2026, and up 31.32% year-over-year from $137.6 million in Q2 2025.
Analysis
Galaxy Digital (GLXY) Cost of Revenue (2024 - 2026) Analysis & Trends
Galaxy Digital has reported Cost of Revenue for 3 years, with the latest figure at $180.7 million in Q2 2026.
- On a quarterly basis, Cost of Revenue rose 31.32% year-over-year to $180.7 million in Q2 2026; TTM through Jun 2026 was $678.5 million, a 11.16% decrease from a year earlier, with the FY2025 full-year figure at $674.3 million, up 2.59% from the prior year.
- Cost of Revenue was $180.7 million for Q2 2026 at Galaxy Digital, up from $149.3 million in the prior quarter.
- The five-year high for Cost of Revenue was $331.0 million in Q4 2024, with the low at $106.8 million in Q3 2024.
- Average Cost of Revenue over 3 years is $172.6 million, with a median of $161.6 million recorded in 2025.
- The largest YoY upside for Cost of Revenue was 74.91% in 2025 against a maximum downside of 51.18% in 2025.
- Over 3 years, Cost of Revenue stood at $331.0 million in 2024, then tumbled by 51.18% to $161.6 million in 2025, then increased by 11.82% to $180.7 million in 2026.
- The last three Cost of Revenue figures came in at $180.7 million (Q2 2026), $149.3 million (Q1 2026), and $161.6 million (Q4 2025), per Business Quant data.
Peer Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Cost of Rev (Qtr) |
|---|---|---|---|---|---|
| 1 | Circle Internet | 23.84 Bn | 22.11 Bn | 288.85 Mn | 412.47 Mn |
| 2 | Galaxy Digital | 10.29 Bn | 9.64 Bn | 8.38 Bn | 180.67 Mn |
| 3 | Gemini Space Station | 602.17 Mn | 413.55 Mn | - | - |
| 4 | Solana | 178.66 Mn | 175.01 Mn | 2.45 Mn | 77,000.00 |
| 5 | Empery Digital | 92.48 Mn | 92.48 Mn | -68,184.00 | 148,203.00 |
| 6 | Metalpha Technology Holding | 45.70 Mn | 41.76 Mn | - | - |
| 7 | Fold Holdings | 29.71 Mn | 1.31 Mn | 5.36 Mn | 728,338.00 |
| 8 | Amber International Holding | 24.41 Mn | -9.84 Mn | 11.06 Mn | 2.86 Mn |
| 9 | Fabric.AI | 10.39 Mn | -11.28 Mn | - | - |
| 10 | CEA Industries | 5.97 Mn | 2.90 Mn | 2.64 Mn | 4.71 Mn |
Historic Data
Download Data
Historic Data
| Date | Value |
|---|---|
| Jun 30, 2026 | 180.67 Mn |
| Mar 31, 2026 | 149.35 Mn |
| Dec 31, 2025 | 161.57 Mn |
| Sep 30, 2025 | 186.86 Mn |
| Jun 30, 2025 | 137.58 Mn |
| Mar 31, 2025 | 188.26 Mn |
| Dec 31, 2024 | 330.99 Mn |
| Sep 30, 2024 | 106.83 Mn |
| Jun 30, 2024 | 111.61 Mn |