Bullish shares jump 10% as Q2 adjusted EBITDA more than triples
Bullish shares rose about 13% after the company reported strong second-quarter results. Adjusted revenue increased 62% year over year to $92.6 million, while adjusted EBITDA more than tripled to $29.5 million. Adjusted net income was $14.3 million, versus a $6 million loss a year earlier. Record subscription, services and other revenue of $62.7 million helped offset weaker exchange activity, even though quarterly trading volume fell to $179.6 billion from $197.4 billion a year ago. Bullish also received Gibraltar approval to offer secondary trading in issuer-sponsored tokenized securities, supporting its regulated onchain strategy. The company raised full-year guidance for subscription, services and other revenue to $225 million to $245 million. Shares have rebounded about 20% over the past month but remain far below last year’s highs.
