Bullish Q2 Revenue Tops Estimates at $57M, Earnings Beat Could Support Momentum as Bitcoin Retreats

• Bullish Q2 revenue: $57 million, beating estimates

• Bullish reported net income of $108.3 million and trading volume growth of 35% to $179.6 billion

• Bullish received a BitLicense and expects adjusted EBIT of $25–$28 million in Q3

Bullish Q2 earnings: $57M revenue and $108.3M net income — read the breakdown and outlook for Q3.

Bullish posted $57 million in revenue in the second quarter, beating analyst estimates and giving its share price a lift after-hours to extend its gains on the day.

What were Bullish Q2 earnings and revenue results?

Bullish Q2 earnings showed revenue of $57 million and a net income of $108.3 million for the quarter ended June 30. These results beat analyst estimates and marked a swing from a year-earlier loss, driven by higher trading volumes and stronger crypto sales.

How did the market react to Bullish’s earnings beat?

Bullish shares rose about 2% in after-hours trading to $55.50 following the earnings release. The stock added to daily gains after the exchange announced it had secured a BitLicense from New York financial regulators, supporting investor confidence.

Why did Bullish post stronger net income in Q2?

Bullish’s net income rose to $108.3 million, reversing a prior-year loss of $116.4 million. The improvement was driven by higher crypto sales, increased trading volume, and improved operating leverage as the firm scales its platform and product offerings.

What were the key operational metrics for Q2?

Bullish reported crypto sales of $58.6 billion (up 18% year-on-year) and trading volume of $179.6 billion (up 35% year-on-year). These metrics underpinned the revenue beat and strengthened the firm’s guidance for the third quarter.

How is Bullish guiding for Q3 and beyond?

Bullish expects adjusted EBIT of $25–$28 million and net income of $12–$17 million for Q3 (ending Sept. 30). The company forecast platform trading volumes of $133–$142 billion and signaled a full options trading launch in Q4 following a limited rollout with select clients.

Did Bullish note regulatory or product milestones?

Bullish confirmed it received a BitLicense from New York regulators, enabling expanded operations in a major market. Management also reiterated the planned full launch of its options platform, which it said is already in limited mobilization with select clients.

Bullish Source: Google Finance

Frequently Asked Questions

How much revenue did Bullish report in Q2?

Bullish reported $57 million in revenue for Q2, topping Wall Street estimates and contributing to a positive earnings surprise.

Is Bullish profitable after the Q2 results?

Yes. Bullish reported net income of $108.3 million for the quarter ended June 30, a notable swing from a loss in the same quarter last year.

What were Bullish’s trading volumes in Q2?

Bullish’s trading volume rose 35% year-on-year to $179.6 billion in Q2, helping lift revenue and margins during the period.

Key Takeaways

• Earnings beat: Bullish reported $57M in revenue and $108.3M net income, surpassing estimates.
• Volume-driven growth: Crypto sales and trading volume rose significantly, supporting higher margins.
• Forward guidance: Management set Q3 adjusted EBIT guidance of $25–$28M and signaled a full options rollout in Q4.

Conclusion

Bullish’s Q2 earnings demonstrate a clear operational improvement: revenue and net income both beat expectations while trading activity accelerated. With a new BitLicense and a scheduled options platform launch, Bullish’s near-term outlook includes measured optimism. Investors should monitor volumes, product rollouts, and regulatory developments for the next update.