$28.10
-7.7%Bullish provides market infrastructure and information services in United States. It operates Bullish Exchange, a digital assets spot and derivatives exchange that integrates a central limit order book matching engine with automated market making to provide deep and predictable liquidity. The company also offers CoinDesk Indices, a collection of tradable proprietary and single-asset benchmarks and indices that track the performance of digital assets for global institutions in the digital assets and traditional finance industries; CoinDesk Data, a comprehensive suite of digital assets market data and analytics, providing real-time insights into prices, trends, and market dynamics; and CoinDesk Insights, operates Coindesk.com, a leading digital media platform that covers news and insights about digital assets, the underlying markets, policy, and blockchain technology. Bullish was founded in 2020 and is based in George Town, Cayman Islands.
Excellent liquidity position. The company can easily cover its short-term obligations with substantial cushion.
Conservative capital structure. The company relies primarily on equity financing, indicating low financial risk.
Strong working capital position provides significant operational flexibility and financial cushion.
Asset-light business model with high liquidity. Majority of assets are easily convertible to cash.
Strong financial foundation: Excellent liquidity combined with conservative leverage suggests the company is well-positioned to weather economic uncertainties and fund growth opportunities.
BLSH • NYSE
| Bullish Balance Sheet | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 | Dec 2020 |
|---|---|---|---|---|---|---|
ASSETS | ||||||
CURRENT ASSETS | ||||||
104.7M | 31.5M | 112.9M | 1.4B | 1.2B | 239.4M | |
404.1M | 218.8M | 254.8M | 28.9M | 0.0 | 0.0 | |
508.9M | 250.4M | 367.7M | 1.4B | 1.2B | 239.4M | |
446.5M | 179M | 24.5M | 87.5M | 12K | 0.0 | |
0.0 | 9.1M | 2.7M | 83.6M | 12K | 0.0 | |
446.5M | 169.8M | 21.9M | 3.9M | 0.0 | 0.0 | |
206.2M | 573.9M | 1.3B | 1.7B | 6.1B | 0.0 | |
0.0 | 8.6M | 9.5M | 6.7M | 5.5M | 107K | |
2.6B | 1.9B | 14.9M | 212.6M | 92.4M | 52.5M | |
3.8B | 2.9B | 1.7B | 3.4B | 7.4B | 292M | |
NON-CURRENT ASSETS | ||||||
28.4M | 14.1M | 13.9M | 17.3M | 8.3M | 0.0 | |
63.1M | 61.5M | 40.2M | 0.0 | 0.0 | 0.0 | |
31.1M | 53.3M | 34.9M | 1.3M | 1.3M | 4.8B | |
94.2M | 114.8M | 75.2M | 1.3M | 1.3M | 4.8B | |
5.7M | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | |
0.0 | 2.1M | 3.7M | 5.2M | 1.8M | 0.0 | |
24.2M | 4M | 5.9M | 4.7M | 267K | 4K | |
152.4M | 135M | 98.6M | 28.6M | 11.7M | 4.8B | |
4B | 3B | 1.8B | 3.4B | 7.5B | 5B | |
LIABILITIES | ||||||
CURRENT LIABILITIES | ||||||
0.0 | 6.9M | 8.7M | 93M | 125.3M | 28M | |
0.0 | 0.0 | 62K | 66.1M | 33.6M | 28M | |
0.0 | 6.9M | 8.6M | 26.9M | 91.7M | 0.0 | |
0.0 | 16.9M | 4.9M | 0.0 | 0.0 | 0.0 | |
50.3M | 25M | 0.0 | 0.0 | 0.0 | 0.0 | |
5.5M | 4.2M | 3.8M | 3.2M | 955K | 0.0 | |
0.0 | 1.7M | 1.3M | 274K | 2M | 0.0 | |
0.0 | 9.5M | 4.6M | 0.0 | 0.0 | 0.0 | |
74.1M | 22.5M | 15.8M | 1.4B | 46.2M | 151K | |
129.9M | 85M | 37.7M | 1.5B | 172.4M | 28.1M | |
NON-CURRENT LIABILITIES | ||||||
528.2M | 503.1M | 428.9M | 0.0 | 0.0 | 1B | |
18K | 6K | 25K | 42K | 14K | 0.0 | |
-17.4M | 47.9M | 47.9M | 145K | 1.2B | 0.0 | |
528.3M | 561.7M | 484.5M | 11.1M | 1.2B | 1B | |
22.9M | 15M | 11.5M | 14.1M | 6.5M | 0.0 | |
658.2M | 646.8M | 522.2M | 1.5B | 1.3B | 1B | |
SHAREHOLDERS' EQUITY | ||||||
0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 244.6M | |
5.1B | 3.8B | 3.8B | 3.8B | 3.8B | 3.8B | |
0.0 | 18.4M | 18.4M | 245.8M | 245.8M | 0.0 | |
-2.7B | -2.3B | -2.7B | -2.2B | 2B | -19.8M | |
774.2M | 858.8M | 142.7M | 0.0 | 0.0 | 0.0 | |
0.0 | 0.0 | 0.0 | 62.6M | 44.8M | 0.0 | |
3.2B | 2.4B | 1.3B | 1.9B | 6.1B | 4B | |
3.3B | 2.4B | 1.3B | 1.9B | 6.1B | 4B | |
70.4M | 11M | 848K | 0.0 | 0.0 | 0.0 | |
SUMMARY | ||||||
4B | 3B | 1.8B | 3.4B | 7.5B | 5B | |
409.9M | 218.8M | 254.8M | 28.9M | 0.0 | 0.0 | |
601.5M | 543.1M | 440.4M | 14.1M | 6.5M | 1B | |
496.7M | 511.5M | 327.5M | -1.4B | -1.2B | 770M | |
151,648,346 | 151,648,346 | 151,648,346 | 151,648,346 | 151,648,346 | 151,648,346 |
BLSH - Filing history and reports
| Filing Type | Filing Date | Period Ending | Fiscal Year | Actions |
|---|---|---|---|---|
6-K 6-K 2026 Q2 Q2 | May 14, 2026 | May 31, 2026 | 2026 | |
6-K 6-K 2026 Q2 Q2 | May 07, 2026 | May 31, 2026 | 2026 | |
6-K 6-K 2026 Q2 Q2 | May 05, 2026 | May 31, 2026 | 2026 | |
6-K 6-K 2026 Q2 Q2 | May 05, 2026 | May 31, 2026 | 2026 | |
6-K 6-K 2026 Q2 Q2 | April 23, 2026 | April 30, 2026 | 2026 | |
6-K 6-K 2026 Q2 Q2 | April 08, 2026 | April 30, 2026 | 2026 | |
20-F 20-F 2025 FY FY | March 10, 2026 | December 31, 2025 | 2025 | |
6-K 6-K 2026 Q1 Q1 | March 06, 2026 | March 31, 2026 | 2026 | |
6-K 6-K 2026 Q1 Q1 | February 05, 2026 | February 28, 2026 | 2026 | |
6-K 6-K 2026 Q1 Q1 | February 05, 2026 | February 28, 2026 | 2026 |
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