EarningsQ2 2026 Earnings Report
MX:GLXY Q2 2026 EPS Results
Actual EPS-$1.62
Consensus EPS-$8.30
Beat/MissBeat by +$6.68
One Year Ago EPS$1.44
MX:GLXY Q2 2026 Revenue Results
Actual Revenue$2.46B
Expected Revenue$159.41B
Beat/MissMissed by -$156.95B
YoY Revenue Growth-73.19%
Earnings Announcement Details
QuarterQ2 2026
Date08/05/2026
TimeBefore Open
Conference CallWednesday, August 5, 2026
MX:GLXY Upcoming Earnings
Galaxy Digital's next earnings date is estimated for October 27, 2026, based on past reporting schedules.
Q2 2026 Earnings Call Audio
MX:GLXY Q2 2026 Earnings Call
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Q2 2026 Earnings Slide Deck
Q2 2026 Earnings Call Summary
Earnings Call Sentiment|Positive
The call highlights strong operational execution and strategic progress, particularly in the data center business: on-time, on-budget delivery of Helios Phase I, a sizable financed pipeline (including a $3.5B financing), multiple new campus acquisitions expanding potential capacity to >5.7 GW, and improving near-term data center revenue visibility (expected ~$80M quarterly leasing and >90% project EBITDA margin). The digital assets business showed resilience with a 34% QoQ increase in adjusted gross profit despite weaker markets and demonstrated early commercial traction with institutional products (GOFR ~$300M originations) and partnerships (BNY, Morgan Stanley). Offsetting these positives are near-term financial and market headwinds: GAAP loss of $85M and firm-wide adjusted EBITDA of negative $77M, declines in net digital assets (-15%) and AUM/AUS (-12%), increased operating expenses and heavy CapEx, and regulatory and interconnection timing risks in the U.S./Texas. Overall, the company appears to be transitioning toward a more diversified, infrastructure-driven earnings profile with meaningful execution wins, though near-term profitability and macro/regulatory uncertainty remain challenges.Company Guidance
Successful Helios Phase I Delivery and Cash Generation
Delivered Phase I at Helios on schedule and on budget; 133 MW of critical IT delivered to CoreWeave; campus is generating cash flow. Data center segment reported $20M adjusted gross profit and $11M adjusted EBITDA in Q2.
Major Financing Completed
Completed a $3.5 billion private 144A high-yield offering (5-year senior secured notes, ~85% loan-to-cost) to fund remainder of Helios Phase II and support expansion.
Material Near-Term Data Center Revenue Run-Rate
Management expects Phase I to generate approximately $80 million of leasing revenue in its first full quarter starting Q3 and a project-level adjusted EBITDA margin of over 90%.
Rapid Data Center Pipeline Expansion
Acquired three new Texas sites (Merlin, Caspian, Selene) and expanded pipeline to more than ~5.7 GW of potential gross power capacity across Helios and new campuses; placed >$180M of long-lead equipment orders and posted required interconnection security (e.g., $50M for Helios III).
Data Center CapEx and Balance Sheet Scale
Data center CapEx increased to $448M in Q2 (up from $354M in Q1) as construction accelerates; Data Center segment held ~ $2.5B in total assets and $1.5B in liabilities at quarter end.
Digital Assets Business Resilience and Product Traction
Digital Asset segment generated $66M adjusted gross profit, up $17M or 34% QoQ despite double-digit crypto price declines and lower market activity; Global Markets AGP $49M while trading volumes declined 7% QoQ. Launched GOFR (Galaxy Onchain Financing Rate) with nearly $300M of loan originations and Galaxy Curator institutional vaults integrated with Fireblocks.
Institutional Partnerships and Commercial Momentum
Signed multiyear design partnership with Bank of New York to advance digital asset infrastructure; selected by Morgan Stanley Wealth Management for staking on two ETPs and expanded referral/lending integrations; BlackRock validator selection noted previously — demonstrating traction with large traditional financial institutions.
Corporate Liquidity and Asset Growth
Total assets grew to $10.8B, up 9% QoQ; Galaxy retains $2.5B in cash and stablecoins to support ongoing investments and deployments.
MX:GLXY Earnings History
The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.
Beat
Missed