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Bullish Q1 performance fell short of expectations: Adjusted revenue of $92.8 million, trading revenue declined year-over-year
Mars Finance News, on May 14th, the U.S. stock-listed crypto trading platform Bullish (BLSH) announced its Q1 performance today, with an adjusted revenue of $92.8 million, below the analyst forecast of $94.9 million; adjusted EBITDA was $35.1 million, up year-over-year but still below the expected $38 million. The company recorded a net loss of $604.9 million, with a loss of $3.85 per share, widening compared to the previous year, mainly due to weak cryptocurrency trading activity at the beginning of the quarter. Trading revenue declined year-over-year, coupled with a correction in the prices of assets like Bitcoin, leading to pressure on overall performance.