🔹 Revenue: $10.24B (Est. $12.01B) 🔴; -37.40% YoY
🔹 Adj. EPS: -$1.08 (Est. -$0.99) 🔴
🔹 Net loss: -$482.00M
Segment Performance:
🔹 Digital Assets adj. gross profit: $51.00M
🔹 Digital Assets adj. EBITDA: -$29.00M
🔹 Data Centers adj. gross profit: $4.60M
🔹 Data Centers adj. EBITDA: $0.30M
🔹 Treasury & Corporate adj. gross profit: -$454.00M
🔹 Treasury & Corporate adj. EBITDA: -$488.00M
🔹 Adj. gross profit: -$398.00M
🔹 Adj. EBITDA: -$518.00M
Other Metrics:
🔹 Total assets: $11,348.00M
🔹 Total equity: $3,035.00M
🔹 Cash & stablecoins: $2,606.00M
🔹 Net digital assets & investments: $1,678.00M
Commentary:
🔸 “Q4 2025 net loss of $482 million, diluted EPS of $(1.08), and adjusted EPS of $(1.08), driven primarily by the depreciation of digital asset prices in the quarter.”
🔸 “Digital Assets generated adjusted gross profit of $51 million and adjusted EBITDA of $(29) million, reflecting a softer macro environment and lower industry trading volumes and onchain activity.”
