Bullish

BLSH Technology Software Infrastructure

Bullish’s revenue for fiscal 2025 (year ended December 2025) was $245.0 billion, down 2.11% from fiscal 2024.

Revenue
−44.3%
EPS
−287.4%
Free cash flow
+2.25%
Total debt
−13.5%

Quarter to June 2026, against a year earlier

23.17 0.21 +0.91%
Market cap
$3.5B
P/E
0.0×
Fwd P/E
−5.6×
Dividend yield
—
F-score
4/9
Altman Z
65.89
Beneish M
n/a
Dividend safety
n/a

Bullish (BLSH) Net margin

Alert me on Net margin

Bullish's net margin over the twelve months to 30 June 2026 was −0.72%, down 0.4 percentage points from fiscal 2025 (−0.31%). That is below the Software Infrastructure industry median of 0.00% and below the Technology sector median of 0.00%.

Net margin, annual

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Annual newest first

Period Net margin Change (points)
FY2025 −0.31% (0.34)
FY2024 0.03% (1.09)
FY2023 1.12% —

Quarterly newest first

Period Net margin Change (points)
Jun 2026 −0.83% 0.29
Mar 2026 −1.12% (0.27)
Dec 2025 −0.85% (0.89)
Sep 2025 0.04% (0.14)
6 more quarters

Net margin against peers

Company Net margin
TDC Teradata Corporation compare 27.1%
AVPT AvePoint, Inc. compare 15.3%
DLO DLocal Limited compare 15.0%
CLBT Cellebrite DI Ltd. compare 11.4%
FOUR Shift4 Payments, Inc. compare 0.92%
BLSH Bullish −0.72%
APPN Appian Corporation compare −1.34%
WIX Wix.com Ltd. compare −8.19%
TCGL TechCreate Group Ltd. compare —
Software Infrastructure industry median 0.00%
Technology sector median 0.00%
Market median 1.22%

What Net margin is

Net Profit Margin tells an investor how much of each unit of revenue ends up as profit for shareholders after all costs, interest and taxes.

Net Income Allotted to Shareholders ÷ Revenue

The full definition of Net margin →

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