Bitpanda slips into the red in 2025 with €14M loss
- —Bitpanda GmbH posted a 2025 loss of about €14M versus a €62M profit in 2024
- —Adjusted revenue rose from €321M to €371M
- —Adjusted EBITDA fell from €52M to €13M
- —Marketing spending jumped 56% to almost €107M
Why it matters: Revenue growth paired with collapsing EBITDA shows how costly expansion is for exchanges; the figures cover Bitpanda GmbH only, not the wider Bitpanda AG group.
Source: BTC-ECHO
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