Galaxy Digital (Nasdaq: GLXY), the crypto financial services company founded and led by billionaire Michael Novogratz, reported the financial results for the third quarter of 2026 on Oct. 27.
Galaxy Digital (Nasdaq: GLXY), the crypto financial services company founded and led by billionaire Michael Novogratz, reported the financial results for the third quarter of 2026 on Oct. 27.
The crypto company generated net income of $323 million and adjusted earnings per share (EPS) of $0.66 in Q3 2026. The EPS beat Zacks consensus estimate of $0.29 per share.
Galaxy One launches multi-asset crypto credit line (5:01)After an $85 million loss in Q2, it returned to a profit of $569 million this quarter due to the growth in crypto trading, lending, and AI data center businesses.
Digital asset trading volumes grew 12% quarter-over-quarter (QoQ), and average loan book size grew 27% QoQ to $1.8 billion.
Data centers generated adjusted gross profit of $79 million in Q3, against just $20 million in Q2. The gain reflects the first full quarter of revenue-generating operations under the Helios I, Phase I lease. The facility's 133 MW of critical IT load got delivered to CoreWeave by the quarter-end.
The company also disclosed that the Helios I, Phase II is fully financed and under construction, with data hall deliveries scheduled to begin in the second quarter of 2027.
The overall revenue stood at $8.6 billion in Q3, much lower than $29.2 billion in Q3 2025.
The company generated $71 million in adjusted gross profit on digital assets.
Galaxy's Board of Directors today authorized the share buyback up to $200 million in order to opportunistically return value to shareholders.
Following the earnings release, the GLXY stock surged more than 7% to trade at $16.91 at the time of writing.
On Oct. 22, Galaxy's research head Alex Thorn published a note in which he argued Bitcoin's bear market ended in June and the cryptocurrency is in the accumulation phase.
"Our conclusion is simple: we believe now is an attractive time to buy and hold bitcoin," Thorn wrote.
The macroeconomic factors the researcher cites are:
Bitcoin was trading at $80,398 at the time of writing, as per Decibel.
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