Key Takeaways
- • Galaxy Digital reported Q3 2026 net income of $323 million and adjusted EBITDA of $455 million, versus an adjusted EBITDA loss of $77 million in Q2, with adjusted EPS of $0.83.
- • The Treasury & Corporate segment generated $419 million of the $569 million adjusted gross profit, up from a $42 million loss in Q2, making the rebound heavily dependent on investment-related gains.
- • Data Centers adjusted gross profit rose to $79 million from $20 million, and the company's power pipeline exceeds 5.7 gigawatts.
- • GLXY shares were indicated up roughly 8% in premarket trading after a 6.81% gain in the prior session, closing at $15.68.
- • On October 26, the board authorized an additional $200 million share repurchase following completion of a prior $200 million program; the company had repurchased about 9.8 million shares year to date.
Summary
Galaxy Digital reported a sharp rebound in third-quarter 2026 profitability, with net income of $323 million and adjusted EBITDA of $455 million, according to the company's earnings materials as reported by TradingView. Adjusted EBITDA compares with a loss of $77 million in the prior quarter, and adjusted gross profit climbed to $569 million from $43 million in Q2. Adjusted earnings per share were $0.83. Gross revenue and gains of $8.7 billion were unchanged from the previous quarter, so the improvement came from the mix of earnings rather than top-line growth.
The Treasury & Corporate segment was the largest contributor, generating $419 million of adjusted gross profit against a $42 million loss in Q2. Digital Assets contributed $71 million and Data Centers added $79 million. Because the bulk of the gain sits in investment-related performance, which can fluctuate, the analysis suggests the quarterly rebound should not be treated as a guaranteed recurring earnings trend.
The data center business continued to expand, with adjusted gross profit rising to $79 million from $20 million in the prior quarter. Galaxy's power pipeline now exceeds 5.7 gigawatts, positioning the infrastructure business to pursue demand for artificial intelligence and high-performance computing capacity. The Helios I Phase II project is fully financed and under construction, and the company has pursued a $3.5 billion senior secured notes offering to fund the project.
GLXY shares were indicated up approximately 8% in premarket trading, extending a 6.81% gain in the previous session. The stock closed at $15.68 in that session; an additional 8% move would place it near $16.93. Per the TradingView report, a cross above $18 would confirm a recovery with a potential move toward $20, while a break below $15 could resume the downtrend. The stock has been in a broader downtrend.
Separately, on October 26 the board authorized an additional $200 million share repurchase program after completing its previous $200 million authorization. Galaxy had repurchased approximately 9.8 million shares year to date, according to its earnings materials.
The Treasury & Corporate segment was the largest contributor, generating $419 million of adjusted gross profit against a $42 million loss in Q2. Digital Assets contributed $71 million and Data Centers added $79 million. Because the bulk of the gain sits in investment-related performance, which can fluctuate, the analysis suggests the quarterly rebound should not be treated as a guaranteed recurring earnings trend.
The data center business continued to expand, with adjusted gross profit rising to $79 million from $20 million in the prior quarter. Galaxy's power pipeline now exceeds 5.7 gigawatts, positioning the infrastructure business to pursue demand for artificial intelligence and high-performance computing capacity. The Helios I Phase II project is fully financed and under construction, and the company has pursued a $3.5 billion senior secured notes offering to fund the project.
GLXY shares were indicated up approximately 8% in premarket trading, extending a 6.81% gain in the previous session. The stock closed at $15.68 in that session; an additional 8% move would place it near $16.93. Per the TradingView report, a cross above $18 would confirm a recovery with a potential move toward $20, while a break below $15 could resume the downtrend. The stock has been in a broader downtrend.
Separately, on October 26 the board authorized an additional $200 million share repurchase program after completing its previous $200 million authorization. Galaxy had repurchased approximately 9.8 million shares year to date, according to its earnings materials.
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