Cryptocurrency-focused financial services company Galaxy Digital (GLXY) posted a comprehensive net loss of $111.7 million in the quarter ended March 31, 2022.
- The loss compares to a profit of $858.2 million in the corresponding quarter last year.
- In a statement Monday, Galaxy Digital attributed the loss to unrealized losses on digital assets and investments in its trading and investment businesses.
- The company's asset management business reported $2.7 billion in assets under management, consisting of $2 billion in GDAM's Galaxy Fund Management products and $735 million in the Galaxy Interactive fund. This is more than double the $1.27 billion a year ago, but down 5% from Q4 2021.
- Shares of GLXY, which is listed on the Toronto Stock Exchange, fell about 3.83% in premarket trading.