Bullish Earnings Call Transcripts
Fiscal Year 2026
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Announced a $4.2B Equiniti acquisition to lead in tokenization, with Q1 revenue up 49% year-over-year and strong growth in exchange and media segments. Reaffirmed 2026 guidance and highlighted robust issuer and partner interest post-deal.
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The acquisition combines blockchain and transfer agent infrastructure to create a leading tokenization platform, with $4.2B deal value and strong financial outlook. Significant revenue synergies and cost savings are expected, positioning the entity as a global leader in tokenized securities.
Fiscal Year 2025
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Q4 2025 saw record revenue and EBITDA, driven by options trading, liquidity services, and institutional growth. 2026 guidance targets 50% SS&O revenue growth, with macro and regulatory factors as key variables. Tokenization and regulatory clarity remain central to long-term strategy.
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Record Q3 results with adjusted revenue up 72% year-over-year and strong growth in liquidity services, options trading, and CoinDesk businesses. U.S. expansion accelerated post-BIT license, with robust client onboarding and positive outlook for 2026.
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Q2 saw record subscription revenue and rapid growth in liquidity services, despite lower trading volumes due to low BTC volatility. U.S. market entry is imminent after securing the New York BitLicense, with strong guidance for Q3 and continued expansion in indices and options products.