Galaxy Digital Holdings Ltd. (NASDAQ:GLXY) shares dropped significantly Tuesday after the company fell short of market expectations in the fourth quarter.
Galaxy Misses Analyst Estimates In Q4
Quarterly revenue came in at $10.37 billion, falling short of the expected $13.21 billion. The company also reported a loss per share of $1.08, missing the estimate for a loss of 52 cents.
Galaxy stock was down more than 15% following the print, according to Benzinga Pro.
The substantial revenue shortfall appears to be raising concerns about Galaxy Digital’s operational efficiency and market positioning. The company also noted that its quarterly loss was driven primarily by the depreciation of digital asset prices, with total crypto market capitalization decreasing by approximately 24% in the quarter.
Digital Assets generated adjusted gross profit of $51 million and an adjusted EBITDA loss of $29 million, reflecting a softer macro environment and lower industry trading volumes and onchain activity.
Galaxy said it ended the quarter with $6.4 billion in assets under management and $5 billion in assets under stake.
The company said it remains on track to deliver 133MW of critical IT load to CoreWeave in the first half of 2026 under the Phase I lease agreement.
Following the report, BTIG reiterated a Buy rating on Galaxy stock and maintained a price target of $50. The stock carries a consensus Buy Rating with an average price target of $45.09.
Shares Fall After Earnings
GLXY Price Action: Galaxy Digital shares were down 15.24% at $22.42 at the time of publication on Tuesday, according to Benzinga Pro data.
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