Key Highlights

  • Galaxy Digital (NASDAQ:GLXY) reports third-quarter results before the open on Tuesday, October 27, 2026, with consensus earnings of USD 0.13 per share after a second-quarter loss of USD 0.09 per share.
  • The second-quarter net loss narrowed to USD 85.3 million from USD 216.3 million, and adjusted EBITDA improved to a loss of USD 77.3 million from a loss of USD 187.5 million.
  • Helios Phase I delivered 200 MW of gross power to CoreWeave under a 15-year lease, with quarterly leasing revenue of about USD 80 million expected and project margins above 90%.
  • A USD 3.5 billion senior secured note offering completed on July 28, 2026 funds Phase II, whose first data halls are expected in the second quarter of 2027.

The Setup After a Narrower Loss

Galaxy Digital (NASDAQ:GLXY) combines digital asset trading, asset management and data centre operations, and it is scheduled to report third-quarter results before the open on Tuesday, October 27, 2026. Consensus estimates call for earnings of USD 0.13 per share, a swing from the second-quarter loss. In its release of Wednesday, August 5, 2026, the company reported a net loss of USD 85.3 million, which it attributed mainly to lower digital asset prices, and adjusted gross profit of USD 43.4 million against a loss of USD 87.9 million in the first quarter. the digital assets segment contributed USD 65.7 million of adjusted gross profit, and the data centre segment contributed USD 20.1 million in its first revenue quarter. Results cannot be known in advance.

Why Helios and Crypto Prices Swing the Quarter

Galaxy Digital (NASDAQ:GLXY) has two very different earnings engines. The first is the Helios campus in Texas, where Phase I delivered 133 MW of critical IT load, the power available to computing equipment, to CoreWeave (NASDAQ:CRWV) on schedule. The company expects quarterly leasing revenue of about USD 80 million and project adjusted EBITDA margins above 90% from the third quarter. The second is the trading and treasury book, which is exposed to digital asset prices and produced the losses in Treasury and Corporate, an adjusted EBITDA loss of USD 78.2 million. Assets under management and stake fell 12% quarter on quarter to USD 7.1 billion. Cash and stablecoins stood at USD 2,459 million at June 30, 2026.

Risks and What to Watch

The bull case is a first full quarter of Helios lease revenue near USD 80 million, stable trading activity and steady progress on Phase II, which would show the data centre business offsetting crypto volatility and could help a stock that fell after the August release. The bear case is lease revenue below plan, renewed mark-to-market losses on digital assets or delays in Phase II, which would likely pressure the shares given USD 3.5 billion of new secured debt. The Federal Reserve raised rates on Wednesday, September 16, 2026, which can weigh on risk assets and financing costs. Investors should watch lease revenue, digital asset prices and the Fed decision on Wednesday, October 28, 2026.

Where Things Stand

The answer is that Galaxy Digital (NASDAQ:GLXY) reports against a USD 0.13 consensus that requires a profit swing, so Helios revenue and digital asset prices are likely to decide whether the quarter clears the bar. The next catalysts are the release before the open on Tuesday, October 27, 2026, updates on Phase II construction and the Federal Reserve decision on Wednesday, October 28, 2026. Consensus figures are estimates, not guarantees, and this is not investment advice.