Bullish reported Q3 earnings: adjusted revenue of $76.5 million, a record high.

PANews reported on November 19th, citing Businesswire, that digital asset trading platform Bullish announced its third-quarter financial results ending September 30, 2025. The company achieved record highs in adjusted revenue, adjusted EBITDA, and adjusted net profit for the quarter. Specifically, its digital asset sales reached $41.6 billion, compared to $54.2 billion in the same period of 2024. Net profit (loss) was $18.5 million, compared to a loss of $67.3 million in the same period of 2024. Adjusted revenue was $76.5 million, compared to $44.6 million in the same period of 2024. Adjusted trading revenue was $26.7 million, compared to $32.9 million in the same period of 2024. Adjusted net profit was $13.8 million, compared to a loss of $3.1 million in the same period of 2024. Adjusted EBITDA was $28.6 million, compared to $7.7 million in the same period of 2024. Bullish launched crypto options during the quarter, and trading volume recently surpassed $1 billion. In addition, Bullish disclosed that its spot trading volume so far in the fourth quarter has increased by 77% compared to the third quarter.

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