There's one line that stands out most in BitGo's Q2 earnings report: revenue surged 80% year-over-year to $4.3 billion, yet net income flipped into a loss.
The company posted a net loss of $19 million in Q2, compared to a net profit of $38.3 million in the same quarter last year — a swing of more than $57 million. Revenue doubled in scale, but profitability couldn't be maintained, which is the most direct takeaway this report leaves for the market.
Publicly available information does not explain the cause of the loss, nor does it provide guidance for the next quarter. For now, these two figures are all we have to go on.
