Osprey Bitcoin Trust Financials
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).
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
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
Financial Health Signals
Based on FY2025 annual data, averaged across the last 3 years for performance metrics (most-recent year weighted highest). How this score is calculated →
Health score ≠ stock price. This rates the quality of Osprey Bitcoin Trust's business: profitability, growth, balance sheet strength. It doesn't tell you whether the stock is a good buy at today's price. Not financial advice. Use it alongside valuation analysis and your own research.
Osprey Bitcoin Trust carries a low D/E ratio of 0.00, meaning only $0.00 of long-term debt for every $1 of shareholders' equity. This conservative leverage earns a score of 100/100, indicating a strong balance sheet with room for future borrowing.
Osprey Bitcoin Trust's ROE of -9.8% shows moderate profitability relative to equity, earning a score of 52/100. This is down from 66.0% the prior year.
Key Financial Metrics
Earnings & Revenue
Osprey Bitcoin Trust reported -$13.4M in net income in fiscal year 2025. This represents a decrease of 111.3% from the prior year.
Cash & Balance Sheet
Osprey Bitcoin Trust held $68K in cash against $0 in long-term debt as of fiscal year 2025.
Osprey Bitcoin Trust had 5M shares outstanding in fiscal year 2025. This represents a decrease of 18.2% from the prior year.
Margins & Returns
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
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
Is Osprey Bitcoin Trust profitable?
No, Osprey Bitcoin Trust (OBTC) reported a net income of -$13.4M in fiscal year 2025.
What is Osprey Bitcoin Trust's return on equity (ROE)?
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.
What are Osprey Bitcoin Trust's total assets?
Osprey Bitcoin Trust (OBTC) had $136.8M in total assets as of fiscal year 2025, including both current and long-term assets.
What is Osprey Bitcoin Trust's debt-to-equity ratio?
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.
What is Osprey Bitcoin Trust's return on assets (ROA)?
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.
How financially healthy is Osprey Bitcoin Trust?
Osprey Bitcoin Trust (OBTC) scores 25 out of 100 on our Financial Profile, indicating weak overall financial health. This composite score evaluates six dimensions: profitability (operating margin), revenue growth, leverage (debt-to-equity), liquidity (current ratio), cash flow quality (free cash flow margin), and shareholder returns (return on equity). Each dimension is normalized against standard financial benchmarks. Learn more in our complete guide to financial health indicators.