Filing Flows › Financials › Galaxy Digital (GLXY)
Galaxy Digital (GLXY) earnings and revenue breakdown
Latest: Q3 2026 · 8-K filed Oct 27, 2026
Q3 2026 Revenue down 72% year over year to $8.1B · 2¢ of every $1 of revenue kept as net profit · operating margin 4.3%
Galaxy Digital made $8.1B in Q3 2026 (-72% Y/Y). Operating margin 4.3%, net earnings $151M. See where every dollar goes — costs, profit and cash — as a Sankey from the 8-K filed Oct 27, 2026 (preliminary, from the earnings release).
Drawing the Sankey…
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What changed this quarter
Revenue was $8.1B in Q3 2026, down 72% year over year and down 6% from the previous quarter.
Operating profit was $0.34B, a 4.3% margin (up 2.4 points year over year). Total costs fell 72% while revenue fell 72%. Net earnings were $0.15B, down 70% year over year. The effective tax rate was 6.2%.
Quarterly history
| Quarter | Form | Filed | Revenue | Y/Y | Op. margin | Net earnings | Op. cash flow |
|---|---|---|---|---|---|---|---|
| Q3 2026 | 8-K | Oct 27, 2026 | $8.1B | -72% | 4.3% | $151M | — |
| Q2 2026 | 10-Q | Aug 10, 2026 | $8.6B | -1% | -1.5% | −$85.3M | $372M |
| Q1 2026 | 10-Q | May 8, 2026 | $10.0B | -23% | -2.3% | −$216M | −$83.3M |
| Q4 2025 | 10-K | Feb 26, 2026 | $10.4B | -34% | -5.4% | −$482M | −$1.1B |
| Q3 2025 | 10-Q | Nov 10, 2025 | $28.4B | +231% | 1.9% | $505M | $428M |
| Q2 2025 | 10-Q | Aug 5, 2025 | $8.7B | -2% | 0.5% | $30.7M | $329M |
Charts
In supply chains and themes
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
Buys from
- MSFT · Stated in 10-K (named, share not stated) · source
- AMZN · Stated in 10-K (named, share not stated) · source
About Galaxy Digital
Galaxy is a global financial services and infrastructure company focused on digital assets and HPC. We aim to facilitate efficient access and adoption of digital assets by institutional clients through our Global Markets and Asset Management & Infrastructure Solutions businesses within our Digital Assets segment. We also develop, and will in the future operate, HPC data center infrastructure to meet the rising global demand for reliable power and scalable compute capacity driven by accelerated AI growth. Galaxy was founded in 2018 by Wall Street veterans who recognized the evolving needs of both traditional financial institutions and the emerging technology-driven financial system. We developed a suite of financial products and services tailored for institutions looking to allocate capital to the digital asset space.
In its own words, from its 10-K, filed Feb 26, 2026.
Galaxy Digital against its Security Brokers, Dealers & Flotation Companies peers
The largest companies of the same SEC industry, each at its latest quarter. Revenue growth: -72% against the peers' median +13%. Operating margin: 4.3% against the peers' median 30.0%.
| Company | Quarter | Revenue | Y/Y | Op. margin |
|---|---|---|---|---|
| GLXY Galaxy Digital | Q3 2026 | $8.1B | -72% | 4.3% |
| MS Morgan Stanley | Q3 2026 | $20.3B | +12% | 31.9% |
| GS Goldman Sachs Group | Q3 2026 | $18.7B | +23% | 37.5% |
| BLK BlackRock | Q3 2026 | $7.8B | +19% | 30.0% |
| SCHW Schwab Charles | Q3 2026 | $7.2B | +17% | 52.7% |
| Jones Financial Companies Lllp | Q3 2026 | $5.2B | +13% | 0.0% |
| RJF Raymond James Financial | Q4 FY26 | $4.7B | +13% | 18.2% |
| JEF Jefferies Financial Group | Q3 FY26 | $3.2B | +11% | 10.9% |
| IBKR Interactive Brokers Group | Q3 2026 | $1.9B | +16% | 78.2% |
Source: Galaxy Digital 8-K on SEC EDGAR · CIK 1859392 · Security Brokers, Dealers & Flotation Companies
Guidance and outlook
13F: who owns GLXY and who is buying
More on GLXY
History
Every quarter: Q3 2026 results · Q2 2026 results · Q1 2026 results · Q4 2025 results · Q3 2025 results · Q2 2025 results