Bullish's first-quarter revenue missed expectations, sending its shares down nearly 8% in pre-market trading.

CoinFeed reported on May 14th that cryptocurrency exchange Bullish (NYSE: BLSH) released its Q1 2026 results. Adjusted revenue was $92.8 million, below the $94.9 million expected by FactSet analysts; adjusted EBITDA was $35.1 million, also below the market expectation of $38 million. Bullish reported a net loss of $604.9 million, or $3.85 per share, compared to a net loss of $348.6 million in the same period last year. The decline in trading-related revenue was attributed to weaker digital asset prices and decreased trading activity. As of pre-market trading on May 14th, Bullish's stock price fell 7.9% to $38.51.