Kraken Hits $471 Million Q1 Revenue, Preparing for Planned IPO

Kraken has achieved a strong start to the year, reporting $472 million in gross revenue and $187 million in adjusted EBITDA for Q1 2025. Despite market volatility, Kraken’s disciplined execution and customer-centric approach fueled robust growth, driving significant financial performance. The company experienced a 26% increase in customers compared to the prior year and saw trading volume soar by 29%. This successful quarter is poised to further fuel Kraken’s ambitious plans for an upcoming IPO.