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Osprey Bitcoin Trust Financials

OBTC
Source SEC Filings (10-K/10-Q) Data as of Mar 31, 2026 Currency USD FYE December

This page shows Osprey Bitcoin Trust (OBTC) financial statements, including the income statement, balance sheet, cash flow statement, and key financial ratios. View 5 years of annual fundamentals and quarterly data, with year-over-year growth rates and compound annual growth rates (CAGR). All figures are derived from SEC filings (10-K and 10-Q reports).

Rhea AI OBTC FY2025

Reported results are driven by asset-value swings inside a nearly debt-free trust structure, not by normal operating activity.

Reported earnings look tied to asset remeasurement: with no reported revenue, liabilities staying below $0.3M, and assets dropping from $181.0M in FY2024 to $136.8M in FY2025, the move from $119.4M profit to -$13.4M loss reads more like a change in portfolio value than a shift in operating performance.

The balance sheet is almost entirely equity financed. FY2025 liabilities were only $65K against $136.8M of assets, so holders are exposed mainly to asset-price movement rather than creditor claims or refinancing pressure. That structure limits balance-sheet strain, but it also means there is little financial cushioning when asset values move against equity.

Share count shrinkage softened the per-share damage. Shares outstanding fell from 5.9M to 4.9M between FY2024 and FY2025, so equity per share declined from about $30.4 to $28.1; cash of just $68K also suggests very little of the trust's value sits in day-to-day operating liquidity.

Generated by Rhea from SEC filings [ NOT FINANCIAL ADVICE ]

Financial Health Signals

Financial health score pending refresh

We are recalculating Osprey Bitcoin Trust's peer-relative financial health score against the latest fiscal year. It will appear here once the refresh completes. The signals and metrics below are current.

Key Financial Metrics

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Earnings & Revenue

Revenue
N/A
EBITDA
N/A
Net Income
-$13.4M
YoY-111.3%

Osprey Bitcoin Trust reported -$13.4M in net income in fiscal year 2025. This represents a decrease of 111.3% from the prior year.

EPS (Diluted)
N/A

Cash & Balance Sheet

Free Cash Flow
N/A
Cash & Debt
$68K
YoY+21017.7%

Osprey Bitcoin Trust held $68K in cash against $0 in long-term debt as of fiscal year 2025.

Dividends Per Share
N/A
Shares Outstanding
5M
YoY-18.2%

Osprey Bitcoin Trust had 5M shares outstanding in fiscal year 2025. This represents a decrease of 18.2% from the prior year.

Margins & Returns

Gross Margin
N/A
Operating Margin
N/A
Net Margin
N/A
Return on Equity
-9.8%
YoY-75.9pp

Osprey Bitcoin Trust's ROE was -9.8% in fiscal year 2025, measuring profit generated per dollar of shareholder equity. This is down 75.9 percentage points from the prior year.

Capital Allocation

R&D Spending
N/A
Share Buybacks
N/A
Capital Expenditures
N/A

OBTC Income Statement

Metric Q1'26 Q4'25 Q1'25 Q4'24 Q3'23 Q2'23 Q1'23 Q4'22
Revenue N/A N/A N/A N/A N/A N/A N/A N/A
Cost of Revenue N/A N/A N/A N/A N/A N/A N/A N/A
Gross Profit N/A N/A N/A N/A N/A N/A N/A N/A
R&D Expenses N/A N/A N/A N/A N/A N/A N/A N/A
SG&A Expenses N/A N/A N/A N/A N/A N/A N/A N/A
Operating Income N/A N/A N/A N/A N/A N/A N/A N/A
Interest Expense N/A N/A N/A N/A N/A N/A N/A N/A
Income Tax N/A N/A N/A N/A N/A N/A N/A N/A
Net Income -$21.8M N/A -$21.7M N/A -$9.7M N/A N/A N/A
EPS (Diluted) N/A N/A N/A N/A N/A N/A N/A N/A

OBTC Balance Sheet

Metric Q1'26 Q4'25 Q1'25 Q4'24 Q3'23 Q2'23 Q1'23 Q4'22
Total Assets $64.2M-53.1% $136.8M N/A $181.0M+143.4% $74.4M-11.6% $84.1M+6.0% $79.3M+71.5% $46.3M
Current Assets N/A N/A N/A N/A N/A N/A N/A N/A
Cash & Equivalents $4K-94.2% $68K N/A $322+78.9% $180+80.0% $100 N/A $257
Inventory N/A N/A N/A N/A N/A N/A N/A N/A
Accounts Receivable N/A N/A N/A N/A N/A N/A N/A N/A
Goodwill N/A N/A N/A N/A N/A N/A N/A N/A
Total Liabilities $30K-54.7% $65K N/A $266K+94.6% $137K+25.1% $109K-67.6% $337K+27.9% $264K
Current Liabilities N/A N/A N/A N/A N/A N/A N/A N/A
Long-Term Debt N/A N/A N/A N/A N/A N/A N/A N/A
Total Equity $64.2M-53.1% $136.7M N/A $180.8M+143.5% $74.2M-11.6% $84.0M+6.3% $79.0M+71.7% $46.0M
Retained Earnings N/A N/A N/A N/A N/A N/A N/A N/A

OBTC Financial Ratios

Metric Q1'26 Q4'25 Q1'25 Q4'24 Q3'23 Q2'23 Q1'23 Q4'22
Gross Margin N/A N/A N/A N/A N/A N/A N/A N/A
Operating Margin N/A N/A N/A N/A N/A N/A N/A N/A
Net Margin N/A N/A N/A N/A N/A N/A N/A N/A
Return on Equity -33.9% N/A N/A N/A -13.1% N/A N/A N/A
Return on Assets -33.9% N/A N/A N/A -13.1% N/A N/A N/A
Current Ratio N/A N/A N/A N/A N/A N/A N/A N/A
Debt-to-Equity 0.000.0 0.00 N/A 0.000.0 0.000.0 0.000.0 0.000.0 0.01
FCF Margin N/A N/A N/A N/A N/A N/A N/A N/A

Frequently Asked Questions

No, Osprey Bitcoin Trust (OBTC) reported a net income of -$13.4M in fiscal year 2025.

Osprey Bitcoin Trust (OBTC) has a return on equity of -9.8% for fiscal year 2025, measuring how efficiently the company generates profit from shareholder equity.

Osprey Bitcoin Trust (OBTC) had $136.8M in total assets as of fiscal year 2025, including both current and long-term assets.

Osprey Bitcoin Trust (OBTC) had 5M shares outstanding as of fiscal year 2025.

Osprey Bitcoin Trust (OBTC) had a debt-to-equity ratio of 0.00 as of fiscal year 2025, measuring the company's financial leverage by comparing total debt to shareholder equity.

Osprey Bitcoin Trust (OBTC) had a return on assets of -9.8% for fiscal year 2025, measuring how efficiently the company uses its assets to generate profit.

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