Bullish Sees Q3 2025 Trading Volume Of $133B-$142B; Adjusted Transaction Revenue (Non-IFRS) Of $25.5M-$28M; Subscriptions, Services & Other Revenue (Non-IFRS) Of $43.5M-$48M; Adjusted EBITDA (Non-IFRS) Of $25M-$28M

+1.25%

Bullish

BLSH

42.96

+1.25%

Q3 2025 Guidance

To give investors insight into our business and expectations, management is providing the following guidance for the third quarter 2025:

Trading Volume of $133.0 billion to $142.0 billion

Adjusted Transaction Revenue (non-IFRS) of $25.5 million to $28.0 million

Subscriptions, Services & Other Revenue (non-IFRS) of $43.5 million to $48.0 million

Adjusted EBITDA (non-IFRS) of $25.0 million to $28.0 million

Adjusted Net Income (non-IFRS) of $12.0 million to $17.0 million

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