Cost of revenue · 2023–2025
Bullish cost of revenue
$245B−2.1% · FY2025
Bullish (BLSH) reported $245B in cost of revenue for fiscal 2025, −2.1% year on year.
Cost of revenue — Cost of revenue is the direct cost of producing what the company sold — materials, manufacturing and the labour tied to delivery. It excludes sales, marketing and administration. Revenue minus this figure is gross profit.
Every row links to its own SEC filing · Fiscal year 2025 · Data as of September 25, 2026 · 2023–2025 compound annual growth +45.0%
Figures are reported under IFRS, in US dollars.
Cite this page
Ready-made references for the figures on this page, as published on September 25, 2026.
Wikipedia
{{cite web |title=Bullish cost of revenue |url=https://companiesranked.com/en/company/bullish/cost-of-revenue |website=CompaniesRanked |date=2026-09-25 |language=en}}APA 7
CompaniesRanked. (September 25, 2026). Bullish cost of revenue. CompaniesRanked. https://companiesranked.com/en/company/bullish/cost-of-revenueBibTeX
@misc{companiesranked-en-company-bullish-cost-of-revenue-2026,
author = {{CompaniesRanked}},
title = {{Bullish cost of revenue}},
year = {2026},
howpublished = {\url{https://companiesranked.com/en/company/bullish/cost-of-revenue}},
note = {Compiled from SEC EDGAR XBRL filings; data as of 2026-09-25},
urldate = {2026-09-25}
}The filing itself
The numbers above are read from this document: 20-F · 0001437749-26-007417 · March 10, 2026
{{cite web |title=Bullish cost of revenue — 20-F (0001437749-26-007417) |url=https://www.sec.gov/Archives/edgar/data/1872195/000143774926007417/blsh20251231_20f.htm |website=SEC EDGAR |publisher=U.S. Securities and Exchange Commission |date=2026-03-10}}The figures are rebuilt with every data refresh, so the reference carries the publication date. Add your own access date if your style requires one.