Kraken Revenue More Than Doubled in Q3 as Company Preps for Possible IPO

The company's adjusted net earlier taxes and different items reached $178.6 million, up 124% quarter-over-quarter, with measurement rising 23% to $561.9 billion.

Oct 22, 2025, 3:41 p.m.

Crypto speech Kraken’s gross much than doubled successful the 3rd 4th arsenic the crypto speech ramps up for an expected nationalist listing adjacent year.

The company, legally known arsenic Payward Inc., brought in $648 cardinal successful gross for the 3rd quarter, a 114% summation from the aforesaid play past year. Kraken defines gross arsenic gross income nether GAAP accounting minus trading costs.

Adjusted net earlier taxes and different items reached $178.6 cardinal compared to a somewhat antagonistic fig a twelvemonth earlier. The fig is up 124% quarter-over-quarter, the steadfast said, with its full measurement rising 23% successful the aforesaid play to $561.9 billion.

The show adds value to Kraken’s plans for an archetypal nationalist offering successful the U.S. The steadfast precocious raised $500 cardinal successful a backing circular valuing it astatine $15 billion.

If the IPO plans travel to fruition, Kraken would articulation a increasing database of crypto firms looking to pat nationalist markets. Among those are CoinDesk genitor institution Bullish, crypto speech Gemini.

Kraken’s closest U.S. rival Coinbase is acceptable to study third-quarter net connected Oct. 30. Analysts expect its adjusted gross to ascent astir 50%.

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