Bullish (BLSH)

Bullish Cash Flow Statement

Financials in millions USD. Fiscal year is January - December.

Operating Activities

Fiscal Year	TTM	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Jun 30, 2026	Dec 31, 2025	Dec 31, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021
Net Income	-1,380	-764.68	78.53	1,299	-4,246	-1,401
Depreciation & Amortization	7.03	7.07	8.55	5.42	3.6	0.47
Loss (Gain) From Sale of Assets	-0.42	-0.42	-	-	0.04	0.01
Asset Writedown & Restructuring Costs	0.59	-	0.96	-	-	-
Stock-Based Compensation	18.45	16.2	22.59	6.17	17.79	44.8
Other Operating Activities	1,349	724.7	-153.68	-1,350	4,167	1,169
Change in Accounts Payable	26.28	-	-	-	-	63.55
Change in Other Net Operating Assets	102.77	46.53	11.49	-88.48	255.75	4.16
Operating Cash Flow	123.02	28.63	-29.98	-126.67	194.93	-120.95
Operating Cash Flow Growth	190.67%	-	-	-	-	-

Investing Activities

Fiscal Year	TTM	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Jun 30, 2026	Dec 31, 2025	Dec 31, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021
Capital Expenditures	-10.73	-9.93	-0.39	-0.97	-1.29	-2.09
Sale of Property, Plant & Equipment	0.03	-	-	0.03	-	-
Cash Acquisitions	-	-	-4.63	1.29	-	-
Sale (Purchase) of Intangibles	-0.25	-0.25	-12	-	-	1,504
Investment in Securities	22.58	23.59	-24.83	3.57	-	-
Other Investing Activities	4.24	-11.31	-3.23	-	-	1.51
Investing Cash Flow	15.87	2.1	-45.08	3.92	-1.29	1,503

Financing Activities

Fiscal Year	TTM	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Jun 30, 2026	Dec 31, 2025	Dec 31, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021
Short-Term Debt Issued	-	-	-	-	225	-
Long-Term Debt Issued	-	174.3	25	43	-	-
Total Debt Issued	-	174.3	25	43	225	-
Short-Term Debt Repaid	-	-	-	-	-225	-
Long-Term Debt Repaid	-	-150.37	-4.88	-3.46	-2.3	-0.2
Total Debt Repaid	-51.06	-150.37	-4.88	-3.46	-227.3	-0.2
Net Debt Issued (Repaid)	-51.06	23.93	20.12	39.54	-2.3	-0.2
Issuance of Common Stock	63.07	59.19	-	-	-	-
Preferred Dividends Paid	-	-	-	-534.64	-	-120.62
Common Dividends Paid	-	-	-	-	-	-371.25
Dividends Paid	-	-	-	-534.64	-	-491.87
Other Financing Activities	-48.06	-40.73	-21.1	-2.98	-5.44	-0.29
Financing Cash Flow	-36.05	42.4	-0.98	-1,213	-7.73	-340.36

Net Cash Flow

Fiscal Year	TTM	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Jun 30, 2026	Dec 31, 2025	Dec 31, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021
Foreign Exchange Rate Adjustments	1.57	1.59	0.3	-	-	-
Net Cash Flow	104.4	74.72	-75.74	-1,335	185.91	1,042

Free Cash Flow

Fiscal Year	TTM	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Jun 30, 2026	Dec 31, 2025	Dec 31, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021
Free Cash Flow	112.29	18.7	-30.37	-127.63	193.64	-123.03
Free Cash Flow Growth	167.98%	-	-	-	-	-
Free Cash Flow Margin	37.34%	7.88%	-19.16%	-144.58%	197.63%	-41990.44%
Free Cash Flow Per Share	0.77	0.15	-0.26	-1.04	1.72	-1.09
Levered Free Cash Flow	-408.92	-633.05	-1,066	1,032	1,709	-5,343
Unlevered Free Cash Flow	-373.05	-600.32	-1,042	1,034	1,713	-5,263

Additional Metrics

Fiscal Year	TTM	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Jun 30, 2026	Dec 31, 2025	Dec 31, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021
Cash Interest Paid	48.06	40.73	21.1	2.98	5.44	-
Change in Working Capital	128.73	45.77	13.08	-87.02	252.43	65.89

SEC Filings: 10-K · 10-Q

Data Source: S&P Global Market Intelligence Last updated: Aug 13, 2026

Financial data is provided by S&P Global Market Intelligence and updates within hours after each earnings release, which is every three months for this company.

Update frequency:

Quarterly

Last checked:

Aug 26, 2026

Data Sources Report a data error