BitGo reported a significant revenue increase of 112.6% year-over-year for Q1 2026, reaching $3.774 billion. However, the company experienced a net loss of $60.7 million, compared to a $25.7 million loss in the same period last year. The newly launched derivatives business contributed approximately $30 billion in notional trading volume, indicating a shift in customer trading activity from spot to derivatives. This shift affects revenue recognition, as derivative revenues are recognized on a net basis, unlike spot trading revenues which are recognized on a gross basis. BitGo's customer base grew by 42% year-over-year, totaling 5,569 clients.
BitGo Q1 2026 Revenue Surges 112.6% to $3.774 Billion Despite Net Loss
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