BLSH
Bullish
NYSE: BLSH · TECHNOLOGY · SOFTWARE - INFRASTRUCTURE
$36.51
-8.31% today
Updated 2026-04-29
Market cap
$5.49B
P/E ratio
—
P/S ratio
23.13x
EPS (TTM)
$-5.99
Dividend yield
—
52W range
$25 – $118
Volume
1.2M
Bullish (BLSH) Financial statements
SEC filings — annual and quarterly data.
Income statement — annual
| Item | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|
| Revenue | — | $1.32B | $72.90B | $116.51B | $250.26B | $244.81B |
| Revenue growth (YoY) | — | — | +5415.8% | +59.8% | +114.8% | -2.2% |
| Cost of revenue | — | $2.37B | $72.90B | $116.53B | $250.26B | $244.73B |
| Gross profit | — | $-1.04B | $-6.55M | $-21.67M | $5.28M | $70.10M |
| Gross margin | — | -79.0% | -0.0% | -0.0% | 0.0% | 0.0% |
| R&D | — | — | — | — | — | — |
| SG&A | $118.96M | $93.01M | $44.42M | $13.58M | $21.47M | $182.19M |
| Operating income | $-119.04M | $-1.28B | $15.67M | $10.21M | $31.92M | $-148.59M |
| Operating margin | — | -96.5% | 0.0% | 0.0% | 0.0% | -0.1% |
| EBITDA | — | $-1.27B | $-4.12B | $1.31B | $131.65M | $-140.39M |
| EBITDA margin | — | -96.4% | -5.6% | 1.1% | 0.1% | -0.1% |
| EBIT | — | $-1.27B | $-4.12B | $1.30B | $123.10M | $-148.59M |
| Interest expense | — | $126.83M | $122.73M | $2.98M | $38.53M | $52.37M |
| Income tax | — | $263000.00 | $1.20M | $1.46M | $5.00M | $944000.00 |
| Effective tax rate | 0.0% | -0.0% | -0.0% | 0.1% | 6.0% | -0.1% |
| Net income | $-119.02M | $-1.40B | $-4.25B | $1.30B | $78.53M | $-764.68M |
| Net income growth (YoY) | — | -1077.3% | -203.0% | +130.6% | -94.0% | -1073.8% |
| Profit margin | — | -106.0% | -5.8% | 1.1% | 0.0% | -0.3% |