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Bitpanda Reports 2025 Revenue Up 16% as EBITDA Falls on Growth Spending

The company frames new MiCA authorization alongside a B2B infrastructure pivot as the basis for institutional expansion.

Overview

  • Adjusted revenue reached €371 million as registered users rose to 7.4 million, up 25% year over year.
  • Adjusted EBITDA declined to €13 million from €52 million in 2024, which management attributed to deliberate investment for scale.
  • Bitpanda secured an EU‑wide MiCA license and also holds a UK Financial Conduct Authority crypto authorization and a Dubai VARA broker‑dealer license.
  • The 2025 product build‑out added margin trading for 100+ assets, expanded the catalog beyond 650 coins, enabled staking for 50+ assets, and launched a web3 wallet.
  • Active B2B partners increased from nine to 16 across Europe, and media reports say the firm is preparing a Frankfurt IPO in H1 2026 with major banks lined up.