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Bitgo Holdings (BTGO) earnings and revenue breakdown
Latest: Q2 FY27 · 10-Q filed Aug 12, 2026 · Bitgo Holdings (BTGO) Q2 FY27 earnings results →
Q2 FY27 Revenue up 80% year over year to $4.3B · 0¢ of every $1 of revenue lost · operating margin -0.4%
Bitgo Holdings made $4.3B in Q2 FY27 (+80% Y/Y). Operating margin -0.4%, net loss $19.0M. See where every dollar goes — costs, profit and cash — as a Sankey from the 10-Q filed Aug 12, 2026.
Drawing the Sankey…
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What changed this quarter
Revenue was $4.3B in Q2 FY27, up 80% year over year and up 15% from the previous quarter.
Operating costs exceeded revenue by $0.02B, an operating margin of -0.4%. Total costs grew 80% against revenue growth of 80%. The fastest-growing cost line was Other operating costs (+80%). The quarter ended with a net loss of $0.02B, narrower than the previous quarter's $0.06B loss. Net interest and other expense of $0.01B was the main reason.
Operating cash flow was −$0.01B. Non-cash charges added back $1.8M of depreciation and amortization and $3.6M of share-based compensation. Working capital and other items added $0.01B. Capital expenditures of $2.6M exceeded it, leaving free cash flow of −$0.01B.
Quarterly history
| Quarter | Form | Filed | Revenue | Y/Y | Op. margin | Net earnings | Op. cash flow |
|---|---|---|---|---|---|---|---|
| Q2 FY27 | 10-Q | Aug 12, 2026 | $4.3B | +80% | -0.4% | −$19.0M | −$6.7M |
| Q1 FY27 | 10-Q | May 14, 2026 | $3.8B | +113% | -0.5% | −$60.7M | −$29.5M |
Charts
Interactive views
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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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🏭Its industry’s money flow (input-output)interactive
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Customers and suppliers named in filings
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About Bitgo Holdings
We aim to be the digital asset infrastructure company of choice, allowing our institutional clients to safely secure, manage, utilize, and create digital assets through our holistic technology platform. Our mission is to accelerate the transition of the financial system to a digital asset economy. We seek to achieve this mission by providing the trust, technology, and infrastructure institutions seek to participate confidently in digital assets. Through our platform, we deliver secure and scalable solutions, offering self-custody wallet, qualified custody, liquidity and prime, and infrastructure-as-a-service to investors, builders, and other participants in the digital asset ecosystem.
In its own words, from its 10-K, filed Mar 27, 2026.
Bitgo Holdings against its Finance Services peers
The largest companies of the same SEC industry, each at its latest quarter. Revenue growth: +80% against the peers' median +17%. Operating margin: -0.4% against the peers' median 5.1%.
| Company | Quarter | Revenue | Y/Y | Op. margin |
|---|---|---|---|---|
| BTGO Bitgo Holdings | Q2 FY27 | $4.3B | +80% | -0.4% |
| AXP American Express | Q3 2026 | $20.1B | +9% | 22.6% |
| 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% |
| BKKT Bakkt | Q2 2025 | $578M | +13% | -3.2% |
Source: Bitgo Holdings 10-Q on SEC EDGAR · CIK 1740604 · Finance Services
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History
Every quarter: Q2 FY27 results · Q1 FY27 results