Galaxy Digital to report Q1 EPS of -$0.93 ahead of call

Galaxy Digital is expected to report Q1 earnings per share of negative $0.93 when the company releases results before U.S. market open on Tuesday, April 28. CEO Mike Novogratz and other executives will host a conference call after the release to discuss the quarter.

The projected loss follows a quarter in which several crypto market indicators weakened and the company’s Q1 estimate was revised down nine times over the past three months. Galaxy’s results reflect exposure to tokens that have underperformed since prior bull runs and a string of security breaches that reduced trading activity and investor appetite.

Galaxy Digital shares (Nasdaq: GLXY) traded around $24.90 ahead of the report, showing a small year-to-date gain and a rise of more than 62% over the past 12 months. Several firms maintain buy or overweight ratings with price targets ranging from $35 to $50, while one large bank rated the stock neutral with a $21 target after recent reviews.

On-chain activity for Galaxy’s tokenized shares on Solana has been limited. The company has tokenized about 0.0075% of its common stock, with roughly 81 holders of the Solana-based tokens. In April the firm retired more than 30,000 tokenized shares and described the program as a proof of concept; the tokenized shares are not configured for broad minting, redeeming or trading by crypto-native platforms.

Company disclosures show Galaxy held more than $609 million in crypto assets as of April, including approximately 4,560 Bitcoin and 42,000 Ether. The portfolio still contains positions from prior cycles, such as Terra (LUNA), and many of those holdings are trading below prior cost. Some tokens in the portfolio are tied to projects that have not returned to viable operation.

Galaxy has also shifted part of its business toward building infrastructure for artificial intelligence. The company is developing the 1.6-gigawatt Helios campus in Texas, which repurposes existing mining sites and energy contracts for large-scale AI computation. Galaxy has secured about $1.4 billion in financing for Helios and expects to complete the first stage of construction as it converts assets to support AI workloads.

The Q1 financial report will provide updated figures on trading results, portfolio valuations and any impairments. Management’s conference call will outline quarter-to-date results and provide any updates on operational progress for the Helios campus.