Galaxy Digital Q1 Loss Narrows to $216M as Assets Drop 12%
Galaxy Digital posted a Q1 net loss of $216 million ($0.49/share), narrowing from $295 million a year earlier and outperforming analyst estimates of $0.93 loss per share. Total assets fell 12% quarter-over-quarter to $9.99 billion, driven by a $316 million drop in digital asset valuations.
1. Q1 Financial Results
Galaxy Digital reported a first-quarter net loss of $216 million ($0.49 per share), an improvement from a $295 million deficit a year earlier and significantly better than the $0.93-per-share loss analysts projected.
2. Asset and Investment Adjustments
Total assets declined 12% quarter-over-quarter to $9.99 billion from $11.3 billion, primarily reflecting a $316 million markdown in the value of digital assets and related investments.
3. Token Exposure and Strategic Shift
The firm held $134 million in other token exposures and rebalanced major crypto positions, with $431 million in Bitcoin, $61 million in Ethereum and $42 million in Solana, while increasing weight in Hyperliquid’s native token.
4. Cost Management and Future Outlook
Management cited headcount reductions and expansion of its data center business as mitigating factors, with digital asset gross profit at $49 million, slightly down from $51 million in the prior quarter.