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Btcs (BTCS) earnings and revenue breakdown
Latest: Q2 2026 · 10-Q filed Aug 19, 2026 · Btcs (BTCS) Q2 2026 earnings results →
Q2 2026 Revenue down 12% year over year to $2.4M
Btcs made $2.4M in Q2 2026 (-12% Y/Y): DeFi Revenues $1.5M, Blockchain Infrastructure Revenues $945K. Operating margin n/m, net loss $34.9M. See where every dollar goes — costs, profit and cash — as a Sankey from the 10-Q filed Aug 19, 2026.
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What changed this quarter
Revenue was $2.4M in Q2 2026, down 12% year over year and up 14% from the previous quarter. DeFi Revenues was the largest line at 61% of revenue. Builder+ lost $1.6M year over year (down 64%), 490% of the total change.
Gross margin was 61.1%. Operating costs exceeded revenue by $34.9M, an operating margin of -1426.7%. The quarter ended with a net loss of $34.9M, narrower than the previous quarter's $69.2M loss.
Operating cash flow was −$22K. Non-cash charges added back $2K of depreciation and $1.6M of share-based compensation. Working capital and other items added $33.2M.
Quarterly history
| Quarter | Form | Filed | Revenue | Y/Y | Op. margin | Net earnings | Op. cash flow |
|---|---|---|---|---|---|---|---|
| Q2 2026 | 10-Q | Aug 19, 2026 | $2.4M | -12% | n/m | −$34.9M | −$22K |
| Q1 2026 | 10-Q | May 14, 2026 | $2.1M | +27% | n/m | −$69.2M | −$1.7M |
| Q4 2025 | 10-K | Mar 26, 2026 | $7.1M | +205% | n/m | −$85.6M | −$3.8M |
| Q3 2025 | 10-Q | Nov 13, 2025 | $4.9M | +568% | n/m | $65.6M | −$2.8M |
| Q2 2025 | 10-Q | Aug 13, 2025 | $2.8M | +395% | 139.8% | $3.9M | −$1.3M |
| Q1 2025 | 10-Q | May 15, 2025 | $1.7M | +274% | n/m | −$17.3M | −$1.9M |
| Q4 2024 | 10-K | Mar 20, 2025 | $2.3M | +612% | 96.5% | $2.2M | −$1.1M |
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💵Where each $1 goesinteractive
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🌏Named in Asian annual reportsinteractive
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🔄Rotation against the market and its industry (RRG)interactive
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🔍Earnings qualityinteractive
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⚖️Fair value by methodinteractive
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🔭Outlook & guidanceinteractive
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📈Investments: gains and what it boughtinteractive
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About Btcs
BTCS Inc. (“BTCS” or the “Company”) is a U.S.-based, Nasdaq-listed blockchain technology company focused on revenue generation through blockchain infrastructure and decentralized finance (“DeFi”) activities, primarily on the Ethereum network. BTCS operates as an active participant in the Ethereum ecosystem, generating digital asset denominated on-chain revenues through its operations. The Company’s business model is centered on providing core blockchain infrastructure services, participating in transaction validation and block construction, and engaging in decentralized finance activities to generate revenue. While BTCS maintains significant Ethereum (“ETH”) holdings, the Company does not operate as a passive digital asset holder. Instead, ETH serves as an operating asset that supports revenue generation across the Company’s business lines.
In its own words, from its 10-K, filed Mar 26, 2026.
Btcs against its Finance Services peers
The largest companies of the same SEC industry, each at its latest quarter. Revenue growth: -12% against the peers' median +17%.
| Company | Quarter | Revenue | Y/Y | Op. margin |
|---|---|---|---|---|
| BTCS Btcs | Q2 2026 | $2.4M | -12% | n/m |
| AXP American Express | Q3 2026 | $20.1B | +9% | 22.6% |
| BTGO Bitgo Holdings | Q2 FY27 | $4.3B | +80% | -0.4% |
| General Motors Financial Company | Q3 2026 | $4.3B | -0.6% | 15.3% |
| SOFI SoFi Technologies | Q3 2026 | $1.4B | +44% | 22.9% |
| COIN Coinbase Global | Q3 2026 | $1.2B | -35% | 5.1% |
| CRCL Circle Internet Group | Q3 2026 | $865M | +17% | 24.1% |
| CHYM Chime Financial | Q3 2026 | $718M | +32% | 4.8% |
| GDOT Green DOT | Q2 2026 | $596M | +18% | -0.1% |
Source: Btcs 10-Q on SEC EDGAR · CIK 1436229 · Finance Services
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More on BTCS
History
Every quarter: Q2 2026 results · Q1 2026 results · Q4 2025 results · Q3 2025 results · Q2 2025 results · Q1 2025 results · Q4 2024 results