BTGO (NYSE:BTGO) Issues Earnings Results, Misses Estimates By $0.55 EPS

BTGO (NYSE:BTGO) issued its quarterly earnings data on Wednesday. The company reported ($0.62) EPS for the quarter, missing analysts’ consensus estimates of ($0.07) by ($0.55), FiscalAI reports. The company had revenue of $3.77 billion during the quarter. The business’s quarterly revenue was up 112.6% on a year-over-year basis.

Here are the key takeaways from BTGO’s conference call:

• BitGo said Q1 operating momentum remained strong despite softer crypto markets, with clients served up 42% year over year to 5,569 and normalized assets on platform and staked balances still growing on a price-adjusted basis.
• The company highlighted early traction in derivatives trading, which generated about $3 billion of notional volume in its first quarter and helped lift digital asset sales margin to 32 basis points.
• Stablecoin-as-a-Service was a standout growth area, with revenue up 44% sequentially and management pointing to strong partner demand, new commercial deals, and product launches like BitGo Mint and Burn Center.
• BitGo emphasized expanding institutional partnerships, including a broader relationship with 21Shares and plans with OKX for off-exchange settlement, which management framed as evidence of growing demand for regulated infrastructure.
• Reported profitability was pressured by market weakness and one-time costs, with adjusted EBITDA loss of $1.7 million and GAAP net loss of $60.7 million, though the company expects expenses to ease in Q2 as IPO-related and stock-based compensation normalizes.

BTGO Stock Up 0.1%

Shares of NYSE:BTGO opened at $11.91 on Thursday. The firm’s 50 day simple moving average is $10.22. BTGO has a twelve month low of $7.25 and a twelve month high of $24.50.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on BTGO shares. Keefe, Bruyette & Woods raised BTGO to a “hold” rating in a research note on Tuesday, February 17th. Wall Street Zen upgraded BTGO from a “sell” rating to a “hold” rating in a research report on Saturday, May 9th. Wells Fargo & Company initiated coverage on shares of BTGO in a research note on Tuesday, February 17th. They set an “overweight” rating and a $13.00 target price for the company. Rosenblatt Securities dropped their price target on shares of BTGO from $17.00 to $15.00 and set a “buy” rating on the stock in a research note on Friday, March 27th. Finally, Citigroup reduced their price objective on BTGO from $18.00 to $17.00 and set a “buy” rating for the company in a research report on Wednesday, March 18th. One investment analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $15.14.

About BTGO

BitGo Holdings Inc is the digital asset infrastructure company delivering custody, wallets, staking, trading, financing, stablecoins and settlement services from regulated cold storage. BitGo Holdings Inc is based in NEW YORK.