Filing Flows › Galaxy Digital (GLXY) › Q1 2026
Galaxy Digital (GLXY) Q1 2026 earnings results (first quarter 2026)
10-Q filed May 8, 2026
Galaxy Digital (GLXY) reported revenue of $10.0B for the first quarter 2026 (Q1 2026), -23% from a year earlier and -3% from the quarter before. Operating margin was -2.3%, net loss $216M (2.2% of revenue).
Galaxy Digital, Q1 2026: revenue $10.0B (-23% year over year), operating margin -2.3%, net loss $216M, operating cash flow −$83.3M. The chart follows the revenue to costs, profit and cash.
| Q1 2026 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $10.0B | -3% | -23% |
| Operating profit | −$235M | — | — |
| Net earnings | −$216M | — | — |
| Operating cash flow | −$83.3M | — | — |
What changed
Revenue was $10.0B in Q1 2026, down 23% year over year and down 3% from the previous quarter. Digital assets sales was the largest line at 99% of revenue. Digital assets sales lost $2.9B year over year (down 22%), 98% of the total change.
Operating costs exceeded revenue by $0.23B, an operating margin of -2.3%. Total costs fell 23% while revenue fell 23%. The quarter ended with a net loss of $0.22B, narrower than the previous quarter's $0.48B loss.
Operating cash flow was −$0.08B. Non-cash charges added back $0.01B of depreciation and amortization and $0.02B of share-based compensation. Working capital and other items added $0.11B. Capital expenditures of $0.34B exceeded it, leaving free cash flow of −$0.42B.
Questions
What was Galaxy Digital's revenue in the first quarter 2026?
Galaxy Digital (GLXY) reported revenue of $10.0B for the first quarter 2026 (Q1 2026), -23% from a year earlier and -3% from the quarter before.
Was Galaxy Digital profitable in the first quarter 2026?
Operating loss was $235M (-2.3% of revenue) and net loss $216M.
Source: Galaxy Digital 10-Q on SEC EDGAR.