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Bullish (BLSH) is set to report its third-quarter 2025 results on November 19, 2025. The company expects total adjusted revenue to be between $69 million and $76 million, with adjusted transaction revenue ranging from $25.5 million to $28 million. The Zacks Consensus Estimate for earnings stands at 8 cents per share with consensus revenue pegged at $74.10 million.
BLSH’s strong performance is anticipated from growth in Subscription Services and Other revenue, projected to be between $43.5 million and $48.0 million, driven by its Liquidity Services and CoinDesk-branded products. The company has also gained regulatory approval for the New York BitLicense, allowing it to launch its exchange in the U.S. However, fluctuations in Bitcoin prices could negatively impact trading volumes.
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