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20-F

Annual Report (Foreign)

Bullish BLSH

0001437749-26-007417

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Filed
Mar 10, 2026 12:00 AM ET
Period of report

On SEC.gov

Financials in this filing

Metric Period Value
Shares Diluted FY 2025 · Dec 31, 2025 127.72M sh
Shares Diluted FY 2025 · Dec 31, 2024 112.66M sh
Shares Diluted FY 2025 · Dec 31, 2023 112.5M sh
Shares Outstanding FY 2025 · Dec 31, 2025 150.83M sh
Operating Cash Flow FY 2025 · Dec 31, 2025 $28.63M
Operating Cash Flow FY 2025 · Dec 31, 2024 −$29.98M
Operating Cash Flow FY 2025 · Dec 31, 2023 −$126.67M
Cash And Equivalents FY 2025 · Dec 31, 2025 $87.89M
Cash And Equivalents FY 2025 · Dec 31, 2024 $31.54M
Cash And Equivalents FY 2025 · Dec 31, 2023 $112.9M
Stockholders Equity FY 2025 · Dec 31, 2025 $3.3B
Stockholders Equity FY 2025 · Dec 31, 2024 $2.4B
Stockholders Equity FY 2025 · Dec 31, 2023 $1.28B
Stockholders Equity FY 2025 · Dec 31, 2022 $1.88B
Current Liabilities FY 2025 · Dec 31, 2025 $129.91M
Current Liabilities FY 2025 · Dec 31, 2024 $85.05M
Total Liabilities FY 2025 · Dec 31, 2025 $658.18M
Total Liabilities FY 2025 · Dec 31, 2024 $646.75M
Current Assets FY 2025 · Dec 31, 2025 $3.8B
Current Assets FY 2025 · Dec 31, 2024 $2.91B
Total Assets FY 2025 · Dec 31, 2025 $3.96B
Total Assets FY 2025 · Dec 31, 2024 $3.05B
Eps Diluted FY 2025 · Dec 31, 2025 −$5.99
Eps Diluted FY 2025 · Dec 31, 2024 $0.68
Eps Diluted FY 2025 · Dec 31, 2023 $10.63
Eps Basic FY 2025 · Dec 31, 2025 −$5.99
Eps Basic FY 2025 · Dec 31, 2024 $0.70
Eps Basic FY 2025 · Dec 31, 2023 $11.55
Net Income FY 2025 · Dec 31, 2025 −$785.47M
Net Income FY 2025 · Dec 31, 2024 $79.56M
Net Income FY 2025 · Dec 31, 2023 $1.3B
Cost Of Revenue FY 2025 · Dec 31, 2025 $244.73B
Cost Of Revenue FY 2025 · Dec 31, 2024 $250.1B
Cost Of Revenue FY 2025 · Dec 31, 2023 $116.42B
Revenue FY 2025 · Dec 31, 2025 $244.81B
Revenue FY 2025 · Dec 31, 2024 $250.2B
Revenue FY 2025 · Dec 31, 2023 $116.49B
Dividends Paid FY 2025 · Dec 31, 2023 $1.98B