Galaxy Digital (GLXY) Q2 2026 Earnings Call Transcript

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DATE

Wednesday, August 5, 2026 astatine 8:30 a.m. ET

CALL PARTICIPANTS

• Head of Investor Relations - Jonathan Goldowsky

• Founder and CEO - Michael Novogratz

• Anthony Paquette

• Christopher Ferraro

Full Conference Call Transcript

Operator: Good morning, and invited to the Galaxy Digital Second Quarter 2026 Earnings Call. Today's telephone is being recorded. [Operator Instructions] At this time, I would similar to crook the league implicit to Mr. Jonathan Goldowsky, Head of Investor Relations. Please spell ahead.

Jonathan Goldowsky: Good morning, and invited to Galaxy's Second Quarter 2026 Earnings Call. Before we begin, delight enactment that our remarks, including answers to your questions, whitethorn see forward-looking statements. Actual results could disagree materially from those described successful these statements arsenic a effect of assorted factors, including those identified successful the disclaimers successful our net merchandise oregon different filings, which person been filed with the U.S. Securities and Exchange Commission and connected SEDAR+. Forward-looking statements talk lone arsenic of contiguous and volition not beryllium updated. Additionally, we whitethorn sermon references to non-GAAP metrics, the reconciliations of which tin besides beryllium recovered successful our net release.

Finally, nary of the accusation connected this telephone constitutes a recommendation, solicitation oregon connection by Galaxy oregon its affiliates to bargain oregon merchantability immoderate securities. With that, I'll crook it implicit to Mike Novogratz, Founder and CEO of Galaxy.

Michael Novogratz: Good morning, everyone. Listen, the 2nd 4th was transformational for Galaxy. Behind the numbers is simply a azygous idea. The system is progressively moving connected code. Finance is moving Onchain and AI is remaking each industry. Both tally connected infrastructure, the fiscal rails connected 1 side, the powerfulness and compute connected the other. Galaxy is 1 of the fewer companies gathering astatine some ends of it today. This quarter, some sides delivered. On the information halfway side, I couldn't beryllium much arrogant of our team. We delivered Phase I astatine Helios connected docket and connected budget, and that's not easy. The field is present generating currency flow.

We acquired 3 caller information halfway sites, bringing our improvement pipeline to 5-plus gigawatts of imaginable powerfulness capableness and positioning Galaxy arsenic 1 of the largest information halfway developers and operators successful the world. Finally, we completed a $3.5 cardinal high-yield financing, the largest successful our history, ensuring we person the superior to execute connected our processing roadworthy map. 2026 was besides an inflection constituent for our integer assets business. Crypto carnivore markets are the champion clip to build, and we surely are successful one. While token prices and trading enactment remains subdued, we're seeing tremendous request for the infrastructure that volition powerfulness the adjacent procreation of fiscal markets.