Bullish (BLSH) Revenue History
Annual and quarterly revenue from 2020 to present
BLSH Revenue Over Time (2020–2025)
BLSH Revenue Growth History
3 of 4 years with positive growth- FY2020 revenue growth
- N/A
- FY2021 revenue growth
- N/A
- FY2022 revenue growth
- +5415.8%
- FY2023 revenue growth
- +59.8%
- FY2024 revenue growth
- +114.8%
- FY2025 revenue growth
- -2.1%
| Quarter | Revenue | YoY |
|---|---|---|
| Q1 2026 | $51.81B | -35.4% |
| Q4 2025 | $64.40B | -2.5% |
| Q3 2025 | $41.65B | — |
| Q2 2025 | $58.66B | — |
| Q1 2025 | $80.26B | -0.2% |
| Q4 2024 | $66.04B | — |
| Q1 2024 | $80.41B | — |
Multi-year avg. share of annual revenue by fiscal quarter
BLSH Revenue Analysis (2020–2025)
Current Revenue & Growth
As of June 28, 2026, Bullish (BLSH) generated trailing twelve-month (TTM) revenue of $216.53 billion, reflecting significant decline in growth of -35.4% year-over-year. The most recent quarter (Q1 2026) recorded $51.81 billion in revenue, down 19.5% sequentially.
Historical Growth Trajectory
BLSH's historical revenue data shows a 3-year CAGR of +49.8%. Bullish's highest annual revenue of $250.26 billion was recorded in 2024.
Peer Comparison
Compared to Technology sector peers — including COIN, HOOD, and MARA. Compare BLSH vs COIN →
BLSH Revenue vs Peers
Revenue metrics vs comparable public companies
| Company | TTM Revenue | YoY Growth | 5Y CAGR | Op. Margin | Compare |
|---|---|---|---|---|---|
| BLSHCurrent | $216.5B | -35.4% | - | 0.0% | |
 COIN | $7.2B | - | - | 20.0% | |
 HOOD | $4.5B | - | - | 46.8% | |
 MARA | $907M | - | - | -90.6% | |
 RIOT | $647M | - | - | -61.8% | |
 FUTU | $22.8B | - | - | 61.6% |
BLSH Historical Revenue Data (2020–2025)
| Year | Revenue | YoY % | Gross Profit | Gross Margin | Op. Income | Op. Margin |
|---|---|---|---|---|---|---|
| 2025 | $244.97B | -2.1% | $74.1M | 0.0% | $50.7M | 0.0% |
| 2024 | $250.26B | +114.8% | $5.3M | 0.0% | $31.9M | 0.0% |
| 2023 | $116.51B | +59.8% | $-21,672,000 | -0.0% | $10.2M | 0.0% |
| 2022 | $72.90B | +5415.8% | $-6,555,000 | -0.0% | $15.7M | 0.0% |
| 2021 | $1.32B | - | $-1,043,465,000 | -79.0% | $-1,275,660,000 | -96.5% |
| 2020 | $0 | - | $0 | - | $-119,040,000 | - |
Intrinsic Valuation
DCF models, multiple analysis, and analyst estimates.
Historical Returns
6+ years return with dividends reinvested.
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Peer Comparison
Compare growth, multiples, and margins vs sector.
BLSH — Frequently Asked Questions
Quick answers to the most common questions about buying BLSH stock.
Is BLSH's revenue growth accelerating or slowing?
BLSH revenue is declining -35.4% year-over-year. TTM revenue fell to $216.5B, contrasting with the 5-year CAGR of N/A. The reversal reflects either macro headwinds or company-specific challenges.
What is BLSH's revenue history from 2020 to 2026?
Bullish (BLSH) revenue history spans 2020 to 2026. TTM revenue as of 2026 is $216.5B, growing at -35.4% YoY. The 5-year CAGR is N/A. Complete annual and quarterly revenue figures are available on this page, including gross profit, operating income, and margin trends.
What is BLSH's long-term revenue growth rate (CAGR)?
Bullish's 5-year revenue CAGR of N/A reflects the variable nature of its business expansion. As of 2026, the current YoY growth rate of -35.4% is below this long-term average. CAGR is the most reliable measure of sustained revenue momentum for BLSH.
Why does BLSH's quarterly revenue fluctuate?
BLSH quarterly revenue can fluctuate significantly between periods. A quarter-over-quarter (QoQ) change does not always indicate a trend; comparing the same quarter year-over-year (YoY) is a more reliable signal for underlying growth. Bullish's revenue data from 2020 to 2026 shows full historical quarterly detail on this page.
How is BLSH's revenue distributed by segment?
BLSH reports revenue broken down by product line and geographic region. The segment breakdown on this page shows which business units contribute the most to total revenue as of the latest fiscal year. Concentration in a single segment above 50% indicates category dependence, while a diversified mix signals more resilient revenue streams.
How does BLSH's revenue compare to industry peers?
Bullish (BLSH) with TTM revenue of $216.5B and -35.4% YoY growth can be benchmarked against sector peers using the comparison table on this page. Revenue growth relative to peers indicates market share gains or losses. The peer section shows TTM revenue, YoY growth, and operating margin for direct comparisons.