Revenue: As of FY2026 Q1, the actual value is USD 3.774 B.EPS: As of FY2026 Q1, the actual value is USD -0.62.EBIT: As of FY2026 Q1, the actual value is USD -14.82 M.<h3>Segment Revenue</h3>Bitgo Holdings, Inc. reported total revenue of $3,773,573 thousand for the three months ended March 31, 2026, marking a 112.6% increase from $1,774,664 thousand in the same period in 2025. Digital Assets Sales Revenue: Increased by 127.9% to $3,659,508 thousand in Q1 2026 from $1,605,467 thousand in Q1 2025, driven by higher trading activity, expanded trading pairs, and increased client engagement. Staking Revenue: Decreased by 66.2% to $49,401 thousand in Q1 2026 from $145,963 thousand in Q1 2025, primarily due to lower staked digital asset volume and declining digital asset prices. Subscriptions and Services Revenue: Grew by 11.3% to $25,575 thousand in Q1 2026 from $22,970 thousand in Q1 2025, attributed to an increase in clients, growth in professional services projects, and higher lending activity. Stablecoin-as-a-Service Revenue: Generated $38,157 thousand in Q1 2026, up from $4 thousand in Q1 2025, following its launch in March 2025. Interest Income: Increased by 258.5% to $932 thousand in Q1 2026 from $260 thousand in Q1 2025, due to an increase in fiat treasury investments. <h3>Operational Metrics</h3><h4>Expenses</h4><ul><li>Digital Assets Sales Cost: Increased by 127.7% to $3,647,845 thousand in Q1 2026 from $1,602,176 thousand in Q1 2025, corresponding with higher transaction volumes. </li><li>Staking Fees: Decreased by 67.6% to $41,443 thousand in Q1 2026 from $127,722 thousand in Q1 2025, aligning with the decrease in staking revenue. </li><li>Stablecoin Sponsor Fees: Increased to $35,337 thousand in Q1 2026 from $0 thousand in Q1 2025, following the launch of the Stablecoin-as-a-Service offering. </li><li>Interest Expense: Rose by 257.2% to $6,018 thousand in Q1 2026 from $1,685 thousand in Q1 2025, due to higher borrowings for lending products. </li><li>Compensation and Benefits: Increased by 67.8% to $40,802 thousand in Q1 2026 from $24,317 thousand in Q1 2025, primarily due to increased headcount and higher stock-based compensation. </li><li>General and Administrative Expenses: Increased by 30.6% to $20,305 thousand in Q1 2026 from $15,549 thousand in Q1 2025, driven by higher audit, accounting, legal fees, and conference costs. </li><li>Depreciation and Amortization: Increased by 99.4% to $1,727 thousand in Q1 2026 from $866 thousand in Q1 2025, due to amortization of intangible assets from acquisitions and higher capital expenditures. </li></ul><h4>Profitability</h4><ul><li>Income (Loss) from Operations: Shifted from an income of $2,349 thousand in Q1 2025 to a loss of - $19,904 thousand in Q1 2026. </li><li>Net Loss: Increased from - $25,734 thousand in Q1 2025 to - $60,673 thousand in Q1 2026. </li><li>Adjusted EBITDA: Decreased from $3,901 thousand in Q1 2025 to an Adjusted EBITDA loss of - $1,684 thousand in Q1 2026. </li></ul><h3>Unique Metrics</h3><h4>Key Operational Metrics</h4><ul><li>Assets on Platform (AoP): Decreased by 30.4% from $90.5 billion as of March 31, 2025, to $63.0 billion as of March 31, 2026, primarily due to declines in digital asset prices. As of March 31, 2026, AoP was concentrated in Bitcoin (50.1%), Ethereum (10.1%), Sui (7.5%), XRP (5.1%), and Solana (3.8%). </li><li>Number of Clients: Increased from 3,921 as of March 31, 2025, to 5,569 as of March 31, 2026, growing at a CAGR of 90.0% over the past two years. </li><li>Number of Users: Increased from 1,121,341 as of March 31, 2025, to 1,203,740 as of March 31, 2026. </li><li>Assets Staked: Decreased from $28,413 million for the three months ended March 31, 2025, to $11,843 million for the three months ended March 31, 2026. As of March 31, 2026, Assets Staked were concentrated in Sui (37.6%), Ethereum (35.0%), and Solana (16.5%). </li></ul><h3>Cash Flow</h3><ul><li>Net Cash Used in Operating Activities: Was - $29.5 million for the three months ended March 31, 2026, compared to net cash generated of $8.2 million for the same period in 2025. </li><li>Net Cash Used in Investing Activities: Was - $11.3 million for the three months ended March 31, 2026, compared to - $0.9 million for the same period in 2025. </li><li>Net Cash Provided by Financing Activities: Was $1,200.4 million for the three months ended March 31, 2026, compared to $19.8 million for the same period in 2025. This increase was primarily driven by $174.3 million in net proceeds from the initial public offering and $1,079.3 million in deposits from stablecoin holders. </li></ul><h3>Future Outlook and Strategy</h3>Bitgo Holdings, Inc. plans to deepen relationships with existing clients to increase product and service adoption while onboarding new institutional clients as digital asset adoption grows. The company will continue investing in research and development to enhance its service offerings and differentiate itself. Remediation efforts for identified material weaknesses in internal controls are expected to continue through 2026.

Bitgo | 10-Q: FY2026 Q1 Revenue: USD 3.774 B