G
Galaxy Digital Inc.
GLXYCIK 0001859392NasdaqNon-AcceleratedSecurity Brokers, Dealers & Flotation CompaniesDelawareFY ends Dec 31
Period
FY 2025
Revenue
$60.41B
Net Income
$-241.35M
Total Assets
$11.35B
Equity
$1.96B
Shares Out
100
Op. Cash Flow
$-316.64M
Business
Galaxy Digital Inc. is a global financial services and infrastructure company focused on digital assets and high-performance computing. The company provides trading, lending, investment banking, asset management, staking, tokenization, and custodial services to institutional clients through its Digital Assets segment, and develops HPC data center infrastructure through its Data Centers segment. Galaxy operates globally with institutional partnerships spanning both traditional finance and crypto-native markets, and serves a client base including asset managers, hedge funds, family offices, and technology companies in the digital asset ecosystem.
Summary from 10-K filed 2026-07-01
Financials
Consolidated Statement of Income
Year Ended · In millions, except per-share amounts
| Concept | Trend | FY 2025 2025-12-31 | FY 2024 2024-12-31 | FY 2023 2023-12-31 |
|---|---|---|---|---|
| Revenues | 60,407 | 42,597 | 51,627 | |
| Gains / (losses) from operations | 949 | 1,161 | 583 | |
| Revenues and gains / (losses) from operations | 61,356 | 43,758 | 52,210 | |
| Transaction expenses | 60,176 | 42,410 | 51,494 | |
| Impairment of digital assets | 754 | 332 | 98 | |
| Compensation and benefits | 300 | 266 | 219 | |
| General and administrative | 183 | 279 | 58 | |
| Technology | 47 | 31 | 20 | |
| Professional fees | 75 | 51 | 38 | |
| Notes interest expense | 59 | 31 | 27 | |
| Total operating expenses | 61,594 | 43,399 | 51,955 | |
| Unrealized gain / (loss) on notes payable - derivative | −36 | −32 | −10 | |
| Other income / (expense), net | 3 | 3 | −135,000 | |
| Total other income / (expense) | −33 | −29 | −10 | |
| Net income / (loss) before taxes | −271 | 330 | 244 | |
| Income taxes expense / (benefit) | −29 | −17 | 16 | |
| Net income / (loss) | −241 | 347 | 229 | |
| Change in fair value of cash flow hedges | — | 0 | — | |
| Other comprehensive income (loss) | −5 | 0 | 0 | |
| Comprehensive income (loss) | −246 | 347 | 229 | |
| Class B Unit holders of GDH LP | −205 | 230 | 153 | |
| Noncontrolling interests | 46 | 0 | 0 | |
| Class A common stockholders of the Company | −87 | 116 | — | |
| Net income (loss) used in calculation of net income / (loss) per share of Class A common stock | — | — | 76 | |
| Basic (in shares) | 159 | 121 | 106 | |
| Diluted (in shares) | 366 | 357 | 326 | |
| Income / (loss) for the period | −241 | 347 | 229 |
Consolidated Balance Sheet
As of · In millions, except per-share amounts
| Concept | Trend | FY 2025 2025-12-31 | FY 2024 2024-12-31 | FY 2023 2023-12-31 | FY 2022 2022-12-31 |
|---|---|---|---|---|---|
| Cash and cash equivalents | 1,246 | 462 | — | — | |
| Digital intangible assets (includes $2,717.4 and $1,997.4 million measured at fair value) | 3,526 | 2,548 | — | — | |
| Digital financial assets | 989 | 360 | — | — | |
| Digital asset loans receivable, net of allowance | 1,070 | 580 | — | — | |
| Investments | 709 | 835 | — | — | |
| Assets posted as collateral, net of allowance | 200 | 277 | — | — | |
| Derivative assets | 84 | 208 | — | — | |
| Accounts receivable (includes $3.4 and $4.6 million due from related parties) | 34 | 55 | — | — | |
| Digital assets receivable | 4 | 54 | — | — | |
| Loans receivable, net of allowance | 554 | 477 | — | — | |
| Prepaid expenses and other assets | 100 | 27 | — | — | |
| Total current assets | 8,516 | 5,881 | — | — | |
| Digital assets receivable | 5 | 7 | — | — | |
| Digital asset loans receivable, net of allowance, non-current | 9 | 0 | — | — | |
| Investments (includes $864.0 and $745.5 million measured at fair value) | 1,023 | 809 | — | — | |
| Digital intangible assets | 27 | 21 | — | — | |
| Loans receivable, net of allowance, non-current | 3 | 0 | — | — | |
| Property and equipment, net | 1,423 | 237 | — | — | |
| Other non-current assets | 276 | 107 | — | — | |
| Goodwill | 67 | 58 | 44 | — | |
| Total non-current assets | 2,832 | 1,239 | — | — | |
| Total assets | 11,348 | 7,120 | — | — | |
| Derivative liabilities | 40 | 166 | — | — | |
| Accounts payable and accrued liabilities (includes $0.0 and $96.9 million due to related parties) | 278 | 282 | — | — | |
| Digital assets borrowed | 2,361 | 1,498 | — | — | |
| Payable to customers | 86 | 20 | — | — | |
| Loans payable | 53 | 511 | — | — | |
| Collateral payable | 1,980 | 1,400 | — | — | |
| Notes payable - current | 429 | 0 | — | — | |
| Other current liabilities | 85 | 13 | — | — | |
| Total current liabilities | 5,312 | 3,888 | — | — | |
| Notes payable | 2,433 | 845 | — | — | |
| Digital assets borrowed, non-current | 56 | 0 | — | — | |
| Other non-current liabilities (includes $72.3 and $0.0 million due to related parties) | 513 | 192 | — | — | |
| Total non-current liabilities | 3,002 | 1,038 | — | — | |
| Total liabilities | 8,313 | 4,926 | — | — | |
| Commitments and contingencies (Note 17) | — | — | — | — | |
| GDH LP Unit Holders | 0 | 2,194 | — | — | |
| Additional Paid in Capital | 1,615 | 0 | — | — | |
| Accumulated other comprehensive income (loss) | −2 | 0 | — | — | |
| Retained Earnings | 343 | 0 | — | — | |
| Total stockholders equity | 1,956 | 2,194 | — | — | |
| Noncontrolling interest | 1,079 | 0 | — | — | |
| Total equity | 3,035 | 2,194 | 1,711 | 1,416 | |
| Total liabilities and equity | 11,348 | 7,120 | — | — |
Consolidated Statement of Cash Flows
Year Ended · In millions, except per-share amounts
| Concept | Trend | FY 2025 2025-12-31 | FY 2024 2024-12-31 | FY 2023 2023-12-31 |
|---|---|---|---|---|
| Digital assets sales revenue | −20,511 | −11,150 | −24,498 | |
| Digital assets sales cost | 20,221 | 11,265 | 24,464 | |
| Impairment of digital assets | 257 | 90 | 47 | |
| Provision for credit losses | −3 | 4 | 0 | |
| Depreciation and amortization | 34 | 47 | 23 | |
| Other impairment loss | 87 | 101,000 | 0 | |
| Equity based compensation | 54 | 75 | 82 | |
| Noncash management fee | −57 | 0 | 0 | |
| Noncash borrowing costs | 129 | 71 | 8 | |
| Noncash interest and net staking income | −127 | −100 | −25 | |
| Net realized loss on disposal | 0 | 0 | 2 | |
| Net (gains) / losses from operations | −949 | −1,161 | −583 | |
| Noncash notes interest expense | 36 | 17 | 14 | |
| Taxes | 41 | −8 | 2 | |
| Other noncash adjustments | 698,000 | 682,000 | 390,000 | |
| Digital assets | 435 | 153 | 148 | |
| Digital assets receivable | 490,000 | 33,000 | −3 | |
| Investments | −60 | 0 | 0 | |
| Derivative assets / liabilities | 323 | 239 | 122 | |
| Accounts receivable | 25 | 3 | 8 | |
| Prepaid expenses and other assets | −73 | 10 | −9 | |
| Other non-current assets | −186 | 0 | 2 | |
| Collateral receivable / payable | −56 | 66 | −49 | |
| Accounts payable and accrued liabilities | 18 | 92 | 18 | |
| Other current liabilities | 16 | −422 | −13 | |
| Other non-current liabilities | 235 | 127 | −5 | |
| Net cash provided by / (used in) operating activities | −317 | −205 | −4 | |
| Proceeds from repayments and maturities of loans receivable | 554 | 201 | 67 | |
| Origination of loans receivable | −651 | −279 | −280 | |
| Purchase of property, equipment and intangible assets | −1,193 | −59 | −46 | |
| Acquisitions, net of cash received | −8 | −5 | −44 | |
| Disposal of property and equipment | 11 | 3 | 653,000 | |
| Purchase of investments | −2,647 | −3,260 | −192 | |
| Proceeds and distributions from investments | 2,642 | 2,878 | 210 | |
| Net cash provided by / (used in) investing activities | −1,291 | −522 | −285 | |
| Payable to customers | −17 | 16 | −6 | |
| Proceeds from loans payable | 380 | 316 | 117 | |
| Repayments of loans payable | −509 | −229 | −26 | |
| Margin loans payable, net | −312 | 331 | 0 | |
| Proceeds from notes payable, net of issuance costs | 2,099 | 389 | 0 | |
| Share issuance, net of costs | 851 | 125 | 11 | |
| Distributions | −49 | −55 | −22 | |
| Cancellation of Class A Units withheld | −51 | −21 | −11 | |
| Net cash provided by / (used in) financing activities | 2,391 | 872 | 63 | |
| Net increase / (decrease) in cash and cash equivalents | 784 | 145 | −225 | |
| Interest | 53 | 51 | 23 | |
| Taxes | 6 | 9 | 9 | |
| Digital assets loan receivable, net of allowance | 522 | 475 | 55 | |
| Payables to customers - digital assets | 83 | 0 | 0 | |
| Assets posted as collateral | 78 | 38 | 291 | |
| Digital assets borrowed | 920 | 1,099 | 228 | |
| Collateral payable | 636 | 755 | 497 | |
| Purchase of investments with noncash contributions | 374 | 13 | 3 | |
| Payable for investments purchased | 0 | 3 | 0 | |
| Proceeds from investments included in receivables | 70,000 | 218,000 | 150,000 | |
| Proceeds from investments received as non-cash contributions | 321 | 143 | 2 | |
| Additions to property, plant and equipment and intangible assets | 117 | 160,000 | 12 | |
| Disposals of property, plant and equipment and intangible assets | 1 | 0 | 0 | |
| Reclassification between digital assets receivable and investments | 2 | 389,000 | 19 | |
| Origination of loans receivable with noncash consideration | 0 | 11 | 11 | |
| Receivable for repayment of loans receivable | 1 | 0 | 0 | |
| Repayment of loans receivable with non-cash considerations | 17 | 0 | 0 | |
| Repayments of loans payable with non-cash consideration | 18 | 0 | 0 |
Filings
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Holdings (13F)
Portfolio as of 2026-03-31 · 72 positions
Reported AUM
$1.16B
Holdings
72
Top sector
$1.16B
Top sectors
| Sector | Value | % of portfolio |
|---|---|---|
| Uncategorized | $1.16B | 100.0% |
Top holdings
| Issuer | Ticker | Shares | Value | % |
|---|---|---|---|---|
| ISHARES BITCOIN TRUST ETF | — | 7.46M | $286.77M | 24.8% |
| STATE STR SPDR S&P 500 ETF T | — | 273.0K | $177.54M | 15.4% |
| STATE STR SPDR S&P 500 ETF T | — | 200.0K | $130.07M | 11.3% |
| ARK 21SHARES BITCOIN ETF | — | 5.16M | $116.09M | 10.1% |
| STRATEGY INC | — | 700.0K | $87.36M | 7.6% |
| INVESCO GALAXY BITCOIN ETF | — | 725.0K | $48.91M | 4.2% |
| FORWARD INDUSTRIES INC | — | 8.11M | $35.92M | 3.1% |
| SSGA ACTIVE TR | — | 590.0K | $23.14M | 2.0% |
| INVESCO QQQ TR | — | 40.0K | $23.09M | 2.0% |
| BULLISH | — | 625.0K | $22.33M | 1.9% |
Frequently asked questions
What is Galaxy Digital Inc.'s CIK number?
Galaxy Digital Inc.'s SEC CIK number is 0001859392 (1859392). The CIK (Central Index Key) is the permanent identifier the SEC assigns to every EDGAR filer — unlike a ticker symbol, it never changes.
Where can I find Galaxy Digital Inc.'s SEC filings?
All of Galaxy Digital Inc.'s EDGAR filings — 10-K annual reports, 10-Q quarterly reports, 8-K material events, and insider transactions — are listed on this page, sourced live from SEC EDGAR.
When did Galaxy Digital Inc. last report earnings?
Galaxy Digital Inc. (GLXY) most recently filed an earnings 8-K with the SEC on Apr 28, 2026, furnishing its results under Item 2.02 (Results of Operations and Financial Condition). The earnings press release is attached to that filing (accession 0001859392-26-000047). This is Galaxy Digital Inc.'s most recent earnings filing of record — not a forecast of its next earnings date.
What is Galaxy Digital Inc.'s most recent earnings 8-K?
Galaxy Digital Inc.'s latest earnings 8-K (Item 2.02) was filed Apr 28, 2026 under accession 0001859392-26-000047. It carries the quarterly or annual earnings press release — the earliest official, SEC-filed version of the results.
View Galaxy Digital Inc.'s latest earnings 8-K →
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