{"schema_version":"secwatch.filing_event.v1","accession":"0001740604-26-000028","form_type":"8-K","ticker":"BTGO","cik":"0001740604","company_name":"BITGO HOLDINGS, INC.","filed_at":"2026-05-13T20:16:39+00:00","discovered_at":"2026-05-13T20:18:00.276681+00:00","generated_at":"2026-05-13T21:53:40.637131+00:00","sec_items":["2.02","9.01"],"event_type":"earnings","sentiment":"negative","materiality_score":0.75,"calibrated_materiality_score":0.75,"confidence":"high","headline":"BitGo Q1 2026: Net loss widens to $60.7M; revenue up 113% to $3.77B","bullets":["Revenue $3.77B (+112.6% YoY) but down 38.7% sequentially; net loss $60.7M vs $25.7M loss year ago.","Clients grew 42.0% YoY to 5,569; normalized Assets on Platform up 29.4% YoY to $63B (ex-price impact).","Digital asset sales margin improved to 32 bps from 20 bps prior year; staking take rate improved to 16.1%.","Launched derivatives offering in Q1 with ~$3B notional volume; revenue mix shift from spot to derivatives reduced reported revenue.","Adjusted EBITDA loss $1.7M vs $3.9M gain year ago; CFO cites $3M one-time IPO-related costs."],"urls":{"canonical":"https://secwatch.observer/filing/0001740604-26-000028","json":"https://secwatch.observer/filing/0001740604-26-000028.json","markdown":"https://secwatch.observer/filing/0001740604-26-000028.md","text":"https://secwatch.observer/filing/0001740604-26-000028.txt","edgar_index":"https://www.sec.gov/Archives/edgar/data/1740604/000174060426000028/0001740604-26-000028-index.htm","edgar_primary_document":"https://www.sec.gov/Archives/edgar/data/1740604/000174060426000028/btgo-20260513.htm"},"model":{"generated_by":"deepseek-v4-flash:cloud@v2","generated_at":"2026-05-13T21:53:40.637131+00:00"},"review":{"review_status":"machine_generated","human_reviewed":false,"corrected":false,"correction_note":null,"correction_timestamp":null,"superseded_by":null,"related_filings":[]},"source_grounded_claims":[{"claim_id":"cf351a97ed199ec7a13558813fed7c6c921fe359","claim":"BITGO HOLDINGS, INC. reported first quarter ended March 31, 2026 results: revenue $ 3,773.6, net income $(60.7) million, EPS $(0.62).","evidence_excerpt":"key financial and operating metrics for Q1 2026. Financial Metrics ($ in millions, unless otherwise stated; unaudited) Metric Q1 2026 Q1 2025 YoY Q4 2025 QoQ Total Revenue $ 3,773.6 $ 1,774.7 112.6 % $ 6,156.5 (38.7) % Direct Costs (1) $ 3,724.6 $ 1,729.9 115.3 % $ 6,096.7 (38.9) % Net Loss $ (60.7) $ (25.7) (135.8) % $ (50.0) (21.3) % Adjusted EBITDA $ (1.7)","evidence_source":"SEC 8-K Item 2.02","evidence_url":"https://www.sec.gov/Archives/edgar/data/1740604/000174060426000028/0001740604-26-000028-index.htm","confidence":0.9,"family_label":"Earnings Releases","details":[{"label":"Period","value":"first quarter ended March 31, 2026"},{"label":"Revenue","value":"$ 3,773.6"},{"label":"Net income","value":"$(60.7) million"},{"label":"EPS","value":"$(0.62)"},{"label":"Result","value":"reported results"}],"fact_type":"earnings_release"}],"license":"Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer"}