BitGo Holdings, Inc. (BTGO) Balance Sheet
BTGO balance sheet, 2025
December 31, 2025 · U.S. dollars$4.55B assets = $4.23B liabilities + $318.5M equity
Both columns are drawn to the same scale: what BTGO owns equals what it owes plus shareholders’ equity. Hover a block for its value.
BTGO financial health
Descriptive bands, not a rating. Fiscal 2025.
BTGO balance sheet trends, 2023–2025
| Metric | Trend | Then | Latest | Change |
|---|---|---|---|---|
| Total assets | $6.92B2023 | $4.55B2025 | −18.9%/yr | |
| Total liabilities | $6.79B2023 | $4.23B2025 | −21.1%/yr | |
| Shareholders’ equity | $136.8M2023 | $316.6M2025 | +52.1%/yr | |
| Cash & short-term investments | $46.2M2023 | $106.3M2025 | +51.7%/yr | |
| Total debt | $3.0M2023 | $6.5M2025 | +47.5%/yr | |
| Net cash (debt) | $43.2M2023 | $99.8M2025 | +$56.6M | |
| Working capital | $131.0M2023 | $301.1M2025 | +$170.1M | |
| Book value per share | $3.612023 | $2.742025 | −12.8%/yr | |
| Current ratio | 1.022023 | 1.072025 | +0.05 | |
| Debt / equity | 0.022023 | 0.022025 | 0.00 | |
| Shares outstanding | 37.9M2023 | 115.5M2025 | +74.6%/yr |
Change is the average annual growth (CAGR) or the difference between the first and latest year.
BTGO assets
BTGO liabilities and equity
BTGO debt vs cash
Debt includes short- and long-term borrowings and, where reported, lease obligations.
BTGO balance sheet
| 2025 | 2024 | 2023 | |
|---|---|---|---|
| Assets | |||
| Cash & short-term investments | $106.3M | $87.4M | $46.2M |
| Cash & equivalents | $106.3M | $87.4M | $46.2M |
| Short-term investments | $604.8M | — | — |
| Receivables | $15.8M | $21.8M | $10.4M |
| Inventory | $0 | $0 | $0 |
| Other current assets | $4.41B | $563.4M | $6.86B |
| Total current assets | $4.53B | $672.7M | $6.92B |
| Property, plant & equipment (net) | $6.3M | $6.3M | $4.3M |
| Goodwill & intangible assets | $30.8M | $3.7M | $0 |
| Long-term investments | $0 | $0 | $0 |
| Other non-current assets | $0 | $546,000 | $3.2M |
| Total assets | $4.55B | $683.3M | $6.92B |
| Liabilities | |||
| Accounts payable | $10.0M | $4.5M | $4.9M |
| Short-term debt | $5.0M | $31.4M | $1.2M |
| Deferred revenue | $4.7M | — | — |
| Total current liabilities | $4.23B | $351.5M | $6.79B |
| Long-term debt | $0 | $0 | $0 |
| Lease obligations | $6.5M | — | — |
| Other long-term liabilities | $11.7M | $2.9M | $1.7M |
| Total liabilities | $4.23B | $354.4M | $6.79B |
| Shareholders' equity | |||
| Common stock & paid-in capital | $4,000 | $4,000 | $4,000 |
| Retained earnings (deficit) | $62.1M | $76.9M | −$79.7M |
| Minority interest | $2.0M | — | — |
| Total shareholders' equity | $316.6M | $326.4M | $136.8M |
| Key figures | |||
| Total debt | $6.5M | $34.4M | $3.0M |
| Net cash (debt) | $99.8M | $53.1M | $43.2M |
| Working capital | $301.1M | $321.2M | $131.0M |
| Tangible book value | $285.8M | $322.7M | $136.8M |
| Book value per share | $2.74 | $2.82 | $3.61 |
| Shares outstanding | 115.5M | 115.6M | 37.9M |
| Current ratio | 1.07 | 1.91 | 1.02 |
| Quick ratio | 0.03 | 0.31 | 0.01 |
| Debt / equity | 0.02 | 0.11 | 0.02 |
| Equity / assets | 7.0% | 47.8% | 2.0% |
| Jun '26 | Mar '26 | Dec '25 | Sep '25 | Jun '25 | Mar '25 | Dec '24 | |
|---|---|---|---|---|---|---|---|
| Assets | |||||||
| Cash & short-term investments | $5.52B | $5.16B | $106.3M | $3.76B | $55.6M | $55.6M | $87.4M |
| Cash & equivalents | $4.79B | $4.58B | $106.3M | $2.77B | $55.6M | $55.6M | $87.4M |
| Short-term investments | $721.6M | $579.6M | $604.8M | $998.6M | — | — | — |
| Receivables | $185.1M | $14.0M | $15.8M | $227.8M | $15.4M | $15.4M | $21.8M |
| Inventory | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Other current assets | $325.4M | $697.8M | $4.41B | $171.9M | $3.11B | $3.11B | $563.4M |
| Total current assets | $6.03B | $5.87B | $4.53B | $4.16B | $3.19B | $3.19B | $672.7M |
| Property, plant & equipment (net) | $5.7M | $5.6M | $6.3M | $10.2M | $9.2M | $9.2M | $6.3M |
| Goodwill & intangible assets | $10.3M | $29.5M | $30.8M | $0 | $0 | $0 | $3.7M |
| Long-term investments | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Other non-current assets | $5.9M | $0 | $0 | $8.0M | $5.2M | $5.2M | $546,000 |
| Total assets | $6.05B | $5.89B | $4.55B | $4.18B | $3.20B | $3.20B | $683.3M |
| Liabilities | |||||||
| Accounts payable | $9.3M | $7.2M | $10.0M | $9.2M | $6.3M | $6.3M | $4.5M |
| Short-term debt | $441.5M | $499.9M | $355.0M | $335.9M | $70.8M | $70.8M | $31.4M |
| Deferred revenue | $4.5M | $4.5M | $4.7M | $10.9M | — | — | — |
| Total current liabilities | $441.5M | $499.9M | $4.23B | $3.81B | $2.85B | $2.85B | $351.5M |
| Long-term debt | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Lease obligations | $6.0M | $5.9M | $6.5M | $7.5M | — | — | — |
| Other long-term liabilities | $5.18B | $4.95B | $11.7M | $5.0M | $3.0M | $3.0M | $2.9M |
| Total liabilities | $5.62B | $5.45B | $4.23B | $3.81B | $2.86B | $2.86B | $354.4M |
| Shareholders' equity | |||||||
| Common stock & paid-in capital | $10,000 | $11,000 | $4,000 | $3,000 | $4,000 | $4,000 | $4,000 |
| Retained earnings (deficit) | −$17.6M | $1.4M | $62.1M | $112.1M | $89.5M | $89.5M | $76.9M |
| Minority interest | $1.6M | $1.8M | $2.0M | $2.1M | — | — | — |
| Total shareholders' equity | $423.1M | $438.8M | $316.6M | $365.6M | $341.2M | $341.2M | $326.4M |
| Key figures | |||||||
| Total debt | $445.0M | $503.2M | $359.0M | $340.9M | $73.8M | $73.8M | $34.4M |
| Net cash (debt) | $5.07B | $4.66B | −$252.7M | $3.42B | −$18.2M | −$18.2M | $53.1M |
| Working capital | $5.58B | $5.37B | $301.1M | $354.5M | $332.1M | $332.1M | $321.2M |
| Tangible book value | $412.7M | $409.3M | $285.8M | $365.6M | $341.2M | $341.2M | $322.7M |
| Book value per share | $3.94 | $4.46 | $2.74 | $3.16 | $6.11 | $6.11 | $5.84 |
| Shares outstanding | 107.4M | 98.4M | 115.5M | 115.6M | 55.9M | 55.9M | 55.9M |
| Current ratio | 13.65 | 11.74 | 1.07 | 1.09 | 1.12 | 1.12 | 1.91 |
| Quick ratio | 12.91 | 10.35 | 0.03 | 1.05 | 0.02 | 0.02 | 0.31 |
| Debt / equity | 1.05 | 1.15 | 1.13 | 0.93 | 0.22 | 0.22 | 0.11 |
| Equity / assets | 7.0% | 7.4% | 7.0% | 8.7% | 10.7% | 10.7% | 47.8% |
Quarterly columns are labeled by the month the quarter ended. Figures in U.S. dollars as reported (latest annual report filed March 27, 2026); data from EODHD.
BTGO financial position
At the end of fiscal 2025 (December 31, 2025), BitGo had total assets of $4.5 billion (up 565.7% from a year earlier), total liabilities of $4.2 billion and shareholders' equity of $316.6 million. It held $106.3 million in cash and short-term investments against $6.5 million of debt, a net cash position of $99.8 million. Its current ratio was 1.07. In the latest quarter (ended June 30, 2026) total assets were $6.0 billion and equity $423.1 million.
Related: BTGO income statement, BTGO cash flow statement, BTGO key metrics. See the BTGO stock overview for the latest quote and news.
BTGO balance sheet FAQ
What are BitGo's total assets?
BitGo reported total assets of $4.5 billion at the end of fiscal 2025 (December 31, 2025), compared with $683.3 million a year earlier.
How much debt does BitGo have?
BitGo had $6.5 million of total debt at the end of fiscal 2025, including short-term borrowings and lease obligations. Its debt-to-equity ratio was 0.02.
How much cash does BitGo have?
BitGo held $106.3 million in cash and short-term investments at the end of fiscal 2025; with $6.5 million of debt that is net cash of $99.8 million.
What is BitGo's book value?
BitGo's shareholders' equity (book value) was $316.6 million at the end of fiscal 2025, or $2.74 per share.
What is BitGo's current ratio?
BitGo had current assets of $4.5 billion and current liabilities of $4.2 billion, a current ratio of 1.07 (it can cover its short-term obligations).
How much goodwill does BitGo have?
BitGo carried $30.8 million of goodwill and intangible assets, 0.7% of total assets, at the end of fiscal 2025.