Bullish posts record Adjusted Revenue, Adjusted EBITDA, and Adjusted Net Income for Q3’2025
Bullish beats guided ranges on Subscription, Services, & Other (SS&O) Revenue, Total Adjusted Revenue, and Adjusted EBITDA in Q3’2025
Q3’2025 Adjusted Revenue of $76.5 million and Adjusted EBITDA of $28.6 million
Bullish launches options trading and surpasses $1B in options trading volume
CAYMAN ISLANDS–(BUSINESS WIRE)–Bullish (NYSE: BLSH), an institutionally focused global digital asset platform that provides market infrastructure and information services, today announced financial results for the third quarter ended September 30, 2025.
Tom Farley, CEO: “Bullish had a highly successful third quarter. We launched our crypto options trading and U.S. spot trading businesses, signed notable institutional clients, gained indices traction, and expanded our liquidity services partners meaningfully. We believe Bullish is positioned at the intersection of trends dr
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