Bullish Q2 Profit $108M, Trading Volume Hits $179.6B
Bullish Q2 profit outpaced expectations, delivering a net profit of $108.3 million—its first profitable quarter since IPO. The crypto exchange beat EPS forecasts with $0.93 per share and generated $57.0 million in revenue. Trading volume surged 35% year-on-year to $179.6 billion, while crypto sales rose 18% to $58.6 billion. Bullish Q2 profit was underpinned by growing trading activity and margin expansion. Regulatory approvals, including a New York BitLicense and Money Transmitter License alongside EU MiCA and Hong Kong licenses, bolstered Bullish’s market position. Shares climbed 5.8% intraday and added 2.1% after-hours. Management forecasts Q3 platform volume of $133–$142 billion, adjusted EBIT of $25–$28 million, and net profit of $12–$17 million. The exchange plans to launch an options trading platform in Q4 after a successful trial.
Bullish
Bullish Q2 profit beat expectations and strong trading volume growth are likely to drive positive sentiment among traders, boosting demand for crypto assets in both the short and long term. The new regulatory licenses and upcoming options trading launch enhance Bullish exchange’s competitive advantage, encouraging higher trading activity. Historically, profitable quarters and licensing milestones for exchanges have led to short-term share rallies and sustained market confidence, supporting a bullish outlook.