Galaxy Digital Inc.
For the period ended Jun 30, 2025. Filed Aug 5, 2025.
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A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.
Jun 30, 2025 · Filed Aug 5, 2025
GLXY$14.11-2.8%Stored close · as of Nov 10, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
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Condensed Consolidated Interim Statements of Cash Flows for the
Condensed Consolidated Interim Statements of Cash Flows
For the Six Months Ended June 30, 2025 and 2024
| Six Months Ended June 30, 2025 | Six Months Ended June 30, 2024 | |
|---|---|---|
| Operating activities | ||
| Income / (loss) for the period | $(264,740) | $262,531 |
| Adjustments for: | ||
| Digital assets sales revenue | (7,528,053) | (2,839,416) |
| Digital assets sales cost | 7,526,992 | 2,870,306 |
| Impairment of digital assets | 85,368 | 13,129 |
| Depreciation and amortization | 20,071 | 20,456 |
| Other impairment loss | 49,222 | — |
| Equity based compensation | 27,591 | 37,002 |
| Noncash expense from borrowing | 60,715 | 25,202 |
| Noncash lending and net staking income | (61,993) | (63,232) |
| Net (gains) / losses from operations | (274,763) | (474,871) |
| Net unrealized (gain) / loss on notes payable – derivative | 35,544 | 12,286 |
| Noncash notes interest expense | 16,576 | 7,341 |
| Net deferred tax expense / (benefit) | (28,951) | (4,831) |
| Other noncash adjustments | (440) | 394 |
| Changes in operating assets and liabilities: | ||
| Digital assets | 605,342 | 330,193 |
| Digital assets receivable | 9,154 | 23 |
| Derivative assets / liabilities | 89,074 | 167,219 |
| Accounts receivable | 19,765 | (36,255) |
| Prepaid expenses and other assets | (13,576) | 10,277 |
| Other non-current assets | — | — |
| Collateral receivable / payable | (50,268) | 29,860 |
| Accounts payable and accrued liabilities | 22,128 | 25,095 |
| Other current liabilities | 18,471 | (168,901) |
| Other non-current liabilities | (33,940) | (2,538) |
| Net cash provided by / (used in) operating activities | 329,289 | 221,270 |
| Investing activities | ||
| Proceeds from repayments and maturities of loans receivable | 70,718 | 68,392 |
| Origination of loans receivable | (127,398) | (79,921) |
| Purchase of property, equipment and intangible assets | (396,459) | (29,736) |
| Acquisitions | (1,000) | — |
| Disposal of property and equipment | 7,954 | 2,954 |
| Purchase of investments | (1,285,456) | (2,578,882) |
| Proceeds and distributions from investments | 1,389,064 | 2,215,603 |
| Net cash provided by / (used in) investing activities | (342,577) | (401,590) |
| Financing activities | ||
| Payable to customers | (3,196) | (3,212) |
| Proceeds from loans payable | 75,021 | 227,826 |
| Repayments of loans payable | (77,421) | (109,545) |
Condensed Consolidated Interim Statements of Cash Flows
For the Six Months Ended June 30, 2025 and 2024
| Six Months Ended June 30, 2025 | Six Months Ended June 30, 2024 | |
|---|---|---|
| Margin loans payable, net | (160,104) | — |
| Share issuance, net of costs | 476,982 | 122,168 |
| Distributions | (39,881) | (45,678) |
| Cancellation of Class A Units withheld | (28,885) | (13,816) |
| Net cash provided by / (used in) financing activities | 242,516 | 177,743 |
| Net increase / (decrease) in cash and cash equivalents | 229,228 | (2,577) |
| Cash and cash equivalents, beginning of period | 462,103 | 316,610 |
| Cash and cash equivalents, end of period | $691,331 | $314,033 |
| Supplemental disclosure of cash flow information and noncash investing and financing activities: | ||
| Cash paid during the year for: | ||
| Interest | $27,182 | $18,135 |
| Taxes | 4,919 | 7,445 |
| Significant noncash investing and financing activities: | ||
| Digital assets loan receivable, net of allowance | 317,843 | 85,607 |
| Payables to customers - digital assets | — | 94,586 |
| Assets posted as collateral | 442,012 | 122,131 |
| Digital assets borrowed | 1,347,324 | 551,901 |
| Collateral payable | 518,894 | 192,556 |
| Purchase of investments with noncash contributions | 72,256 | 10,947 |
| Proceeds from investments included in receivables | 4,141 | — |
| Proceeds from investments received as digital assets | 105,648 | 6,714 |
| Proceeds from investments received as non-cash contributions | 8,767 | — |
| Additions to property, plant and equipment and intangible assets | 35,452 | 160 |
| Disposals of property, plant and equipment and intangible assets | 1,370 | — |
| Reclassification between derivatives and investments | — | 389 |
| Reclassification between digital assets receivable and investments | 2,192 | — |
| Origination of loans receivable with noncash consideration | — | 6,098 |
The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.