I'm LongbridgeAI, I can summarize articles.Revenue: As of FY2026 Q2, the actual value is USD 4.329 B, beating the estimate of USD 3.781 B.
EPS: As of FY2026 Q2, the actual value is USD -0.16.
EBIT: As of FY2026 Q2, the actual value is USD -24.86 M.
Bitgo Holdings, Inc. announced its financial results for the quarter ended June 30, 2026, though detailed financial metrics for this specific announcement were not provided in one part of the report. Edward Reginelli informed the Board of Directors of his intention to resign as Chief Financial Officer and principal accounting officer, effective September 15, 2026, a decision not due to any disagreement with the company’s operations, policies, or practices; a search for his successor has been initiated, and he will provide advisory guidance post-resignation for an orderly transition of duties.
Net Income (Loss)
Bitgo Holdings, Inc. reported a Net Loss of - $19.0 million in Q2 2026, which compares to a Net Income of $38.3 million in Q2 2025 and a Net Loss of - $60.7 million in Q1 2026. The year-over-year change primarily reflects an - $18.8 million unrealized loss on digital assets in Q2 2026, contrasting with a $55.8 million unrealized gain in the prior-year period. The sequential improvement was mainly due to a smaller unrealized mark-to-market loss on digital assets and lower compensation and benefits expenses.
Adjusted EBITDA
Adjusted EBITDA was - $4.2 million in Q2 2026, compared to an Adjusted EBITDA gain of $3.0 million in Q2 2025 and an Adjusted EBITDA Loss of - $1.7 million in Q1 2026. The sequential decline reflects lower economic contribution from Digital Asset Sales and Staking, partially offset by lower cash compensation and professional fees.
Direct Costs
Direct Costs reached $4,286.9 million in Q2 2026, representing an 80.8% increase year-over-year from $2,371.0 million in Q2 2025 and a 15.1% increase quarter-over-quarter from $3,724.6 million in Q1 2026.
Cash and Company-Owned Bitcoin
As of June 30, 2026, Bitgo Holdings, Inc. held $159.0 million in cash and cash equivalents and $147.7 million in company-owned Bitcoin.
Cash Flow from Operating Activities
For the six months ended June 30, 2026, net cash used in operating activities was - $36,173 thousand, compared to - $8,053 thousand for the same period in 2025.
Cash Flow from Investing Activities
Net cash used in investing activities for the six months ended June 30, 2026, was - $7,949 thousand, a decrease from - $39,780 thousand for the same period in 2025.
Cash Flow from Financing Activities
Net cash provided by financing activities for the six months ended June 30, 2026, was $1,418,146 thousand, compared to $2,223,406 thousand for the same period in 2025.
Operational Metrics (KPIs)
- Number of Clients: Increased to 5,833 in Q2 2026, up 26.2% year-over-year from 4,621 in Q2 2025 and up 4.7% quarter-over-quarter from 5,569 in Q1 2026.
- Number of Users: Totaled 1.2 million in Q2 2026, representing a 6.1% increase year-over-year from 1.1 million in Q2 2025 and a 1.3% increase quarter-over-quarter from 1.2 million in Q1 2026.
- Assets on Platform: Were $65.2 billion in Q2 2026, a decrease of -27.8% year-over-year from $90.3 billion in Q2 2025, but an increase of 3.5% quarter-over-quarter from $63.0 billion in Q1 2026.
- Normalized Assets on Platform: Reached $65.2 billion in Q2 2026, up 31.4% year-over-year from $49.6 billion in Q2 2025 and up 6.4% quarter-over-quarter from $61.2 billion in Q1 2026.
- Assets Staked: Totaled $11.9 billion in Q2 2026, down -53.6% year-over-year from $25.6 billion in Q2 2025, but slightly up 0.3% quarter-over-quarter from $11.8 billion in Q1 2026.
- Normalized Assets Staked: Were $11.9 billion in Q2 2026, an increase of 36.1% year-over-year from $8.7 billion in Q2 2025 and up 3.0% quarter-over-quarter from $11.5 billion in Q1 2026.
Business Line Financial Highlights (Q2 2026)
- Digital Asset Sales: Revenue was approximately $4.2 billion, up 84.3% year-over-year and 14.7% sequentially. After direct costs of $4,190.4 million, the overall quarterly margin was approximately $7.1 million, or 17 basis points, down from 32 basis points in Q1 and 19 basis points in the prior-year period.
- Staking: Revenue was $64.7 million, up 30.9% sequentially but down -28.8% year-over-year. Staking fees were $60.8 million, resulting in a take rate of 6.0%, compared to 16.1% in Q1 and 10.0% a year ago.
- Subscriptions and Services: Revenue was $27.5 million, up 8.5% year-over-year and 7.7% sequentially.
- Stablecoin-as-a-Service: Revenue was $38.8 million, up 148.0% year-over-year and 1.7% sequentially. Stablecoin sponsor fees were $35.7 million, leading to a take rate of 8.0%, compared to 7.4% in Q1 and 2.6% a year ago.
- Interest Income: For the quarter was $0.8 million.
Outlook / Guidance
Bitgo Holdings, Inc. expects to achieve approximately $15 million of annualized cash savings by sharpening investment priorities and strengthening its operating model. The company plans to translate continued business growth into stronger earnings, disciplined capital allocation, and more durable financial performance in the second half of the year. Additionally, Bitgo Holdings, Inc. authorized a share repurchase program of up to $50 million as part of its capital-allocation framework.