Galaxy Digital Inc. GLXY
Galaxy is a global financial services and infrastructure company focused on digital assets and HPC. We aim to facilitate efficient access and adoption of digital assets by institutional clients through our Global Markets and Asset Management & Infrastructure Solutions businesses within our Digital Assets segment. We also develop, and will in the future operate, HPC data center infrastructure to meet the rising global demand for reliable power and scalable compute capacity driven by accelerated AI growth.
Galaxy was founded in 2018 by Wall Street veterans who recognized the evolving needs of both traditional financial institutions and the emerging technology-driven financial system. We developed a suite of financial products and services tailored for institutions looking to allocate capital to the digital asset space. From derivatives instruments to venture capital funds to investment banking services, we positioned ourselves as a one-stop shop for companies seeking exposure to every corner of the digital assets ecosystem. Since inception, we have established institutional partnerships with some of the world's largest traditional finance firms and have been onboarded onto top-tier institutional wealth and custody platforms.
Valuation FY2025 figures against the last close
Annual financial statements
Income statement
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 |
|---|---|---|---|---|
| Revenue | $60.24B | $42.50B | $51.58B | — |
| SG&A | $182.9M | $279.3M | $58.4M | — |
| Total operating expenses | $61.59B | $43.40B | $51.96B | — |
| Pre-tax income | -$270.7M | $329.8M | $244.4M | — |
| Income tax | $29.3M | $16.9M | $15.9M | — |
| Net income | -$241.3M | $346.7M | $228.5M | — |
| Shares, diluted (wtd. avg.) | 366.5M | 356.7M | 326.0M | — |
Balance sheet
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 |
|---|---|---|---|---|
| Cash and equivalents | $1.25B | $462.1M | $316.6M | $542.1M |
| Short-term investments | $709.1M | $834.8M | — | — |
| Receivables | $34.0M | $55.3M | — | — |
| Total current assets | $8.52B | $5.88B | — | — |
| Property, plant and equipment | $1.42B | $237.0M | — | — |
| Goodwill | $66.5M | $58.0M | $44.3M | — |
| Other intangibles | $29.5M | $37.4M | — | — |
| Total assets | $11.35B | $7.12B | — | — |
| Accounts payable | $17.6M | $6.9M | — | — |
| Total current liabilities | $5.31B | $3.89B | — | — |
| Total liabilities | $8.31B | $4.93B | — | — |
| Retained earnings | $342.9M | $0 | — | — |
| Total equity | $1.96B | $2.19B | $1.71B | $1.42B |
Cash flow
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 |
|---|---|---|---|---|
| Operating cash flow | -$316.6M | -$205.1M | -$4.1M | — |
| Depreciation and amortisation | $34.1M | $46.9M | $22.9M | — |
| Stock-based compensation | $53.6M | $74.9M | $81.7M | — |
| Capital expenditure | $1.19B | $59.0M | $45.6M | — |
| Investing cash flow | -$1.29B | -$521.6M | -$284.8M | — |
| Financing cash flow | $2.39B | $872.2M | $63.4M | — |
Figures as tagged in each year's own filing, in US dollars. A year restated by a later filing shows the restated figure. Capital expenditure, dividends and buybacks are cash out, shown positive. A line the filer does not report is not listed. Latest from accession 0001859392-26-000037.
Plot the figures US dollars
- Revenue
- Gross profit
- Net income
| Fiscal year | FY2022 | FY2023 | FY2024 | FY2025 |
|---|---|---|---|---|
| Revenue | — | $51.58B | $42.50B | $60.24B |
| Gross profit | — | — | — | — |
| Net income | — | $228.5M | $346.7M | -$241.3M |
Recent filings and events
- Results announced The quarterly or annual earnings release. Arrives four times a year from almost every company here. Item 2.02
- Officer or director change Someone at the top arrived or left. The item covers everything from a board retirement to a chief executive being removed, and only the filing itself says which. Item 5.02
- Regulation FD disclosure Something the company told the market and had to tell everyone at once - usually a slide deck or a press release. Item 7.01
- Material agreement signed The company entered an agreement outside the ordinary course of business - a large contract, a credit facility, a merger agreement. Item 1.01
- New debt or obligation The company has taken on debt or a comparable obligation. Item 2.03
- Other event The catch-all. The company chose to disclose something that fits no other item, so the content is whatever it says it is. Item 8.01
- Regulation FD disclosure Item 7.01
- Officer or director change Item 5.02
- Shareholder vote The results of the annual meeting or a special vote. Item 5.07
- Material agreement signed Item 1.01
- Results announced Item 2.02
- Regulation FD disclosure Item 7.01
Item numbers are Form 8-K's own, and a filing date is up to four business days after the thing it reports. The same feed across the whole market.
Others in SIC 6211
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| GS | GOLDMAN SACHS GROUP INC | $254.97B | 17.1x | -1.3% |
| BLK | BlackRock, Inc. | $173.50B | 31.7x | 18.7% |
| SCHW | SCHWAB CHARLES CORP | $156.64B | 19.5x | 22.0% |
| HOOD | Robinhood Markets, Inc. | $85.47B | 46.4x | 51.6% |
| IBKR | Interactive Brokers Group, Inc. | $35.96B | 36.2x | 23.4% |
| RJF | RAYMOND JAMES FINANCIAL INC | $30.34B | 15.3x | 6.6% |
| SEIC | SEI INVESTMENTS CO | $12.28B | 18.2x | 8.1% |