Core Insights - Bullish, the crypto platform owner of CoinDesk, reported a third-quarter profit of $18.5 million, reversing from a loss of $67.3 million in the same quarter last year, with earnings per share (EPS) of 10 cents, meeting analyst expectations [1] - The company achieved adjusted revenue of $76.5 million, exceeding analyst estimates of $72.9 million [1] Group 1 - Bullish launched its U.S. spot trading business in September after obtaining a BitLicense from New York regulators and introduced crypto options with 14 trading partners [2] - Five out of six recently introduced U.S. crypto exchange-traded products (ETPs) were based on CoinDesk Indexes, and the firm doubled its liquidity services partnerships compared to the previous quarter [2] Group 2 - The recently launched options product surpassed $1 billion in trading volume, and spot trading volume increased by 77% quarter-to-date compared to Q3 [3] - Despite a year-over-year decline in overall digital asset sales, the company recorded record revenue of $28.6 million from its subscription, services, and other (SS&O) business line, up from $7.7 million in the same quarter last year [3] Group 3 - For the fourth quarter, Bullish anticipates subscription, services, and other revenue to be between $47 million and $53 million [4] - The company's shares rose more than 2% in pre-market trading following the earnings announcement [4]