Coinbase Global revenue and financials
$185.74Change from previous close: −1.32%Absolute change: −$2.48
In the fiscal year ended December 2025, Coinbase Global reported revenue of $7.18B (+9.40% year over year). Net income was $1.26B, a net margin of 17.6%.
Fiscal year ending in December. Sources and method on the page Methodology and sources.
At a glance
- Revenue growth
- +9.40%
- 2025 vs 2024
- Net income growth
- −51.13%
- 2025 vs 2024
- Net margin
- 17.6%
- 2024: 39.3%
Financial data
Amounts in millions of USD; per-share values in USD; shares in millions.
| Item | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Total revenue | 1,154 | 1,339 | 1,710 | 1,793 | 1,397 | 1,937 | 2,197 | 1,129 | 1,380 | 1,588 | 905 | 623 |
| Cost of revenue | 190 | 196 | 219 | 253 | 245 | 303 | 317 | 172 | 191 | 217 | 126 | 90.6 |
| Gross profit | 965 | 1,143 | 1,491 | 1,540 | 1,151 | 1,634 | 1,880 | 957 | 1,188 | 1,370 | 779 | 532 |
| Selling, general and administrative | 597 | 643 | 768 | 679 | 590 | 642 | 588 | 495 | 485 | 386 | 420 | 331 |
| Research and development | 473 | 526 | 497 | 431 | 387 | 355 | 369 | 377 | 364 | 358 | 323 | 323 |
| Operating income | -161 | -95.1 | 193 | 453 | 181 | 608 | 959 | 92.9 | 273 | 711 | 61.7 | -126 |
| EBIT | -161 | -95.1 | 193 | 453 | 181 | 608 | 959 | 92.9 | 273 | 711 | 61.7 | -126 |
| EBITDA | -96.3 | -27.0 | 264 | 503 | 215 | 642 | 992 | 124 | 308 | 740 | 91.2 | -94.3 |
| Interest expense | 22.5 | 22.6 | 22.6 | 21.8 | 20.5 | 20.5 | 20.5 | 20.5 | 20.5 | 19.1 | 18.7 | 20.8 |
| Pre-tax income | -395 | -465 | -886 | 502 | 1,824 | 82.5 | 1,497 | 68.6 | -60.2 | 1,437 | 133 | 34.7 |
| Income tax | -35.9 | -70.6 | -220 | 69.6 | 395 | 16.8 | 206 | -6.9 | -96.4 | 261 | -141 | 36.9 |
| Net income | -359 | -394 | -667 | 433 | 1,429 | 65.6 | 1,291 | 75.5 | 36.2 | 1,176 | 273 | -2.3 |
| Net income to common shareholders | -359 | -394 | -667 | 433 | 1,429 | 65.6 | 1,291 | 75.5 | 36.1 | 1,175 | 273 | -2.3 |
| Basic EPS | -1.36 | -1.49 | -2.49 | 1.65 | 5.60 | 0.26 | 5.13 | 0.30 | 0.15 | 4.84 | 1.14 | -0.01 |
| Diluted EPS | -1.36 | -1.49 | -2.49 | 1.50 | 5.14 | 0.24 | 4.68 | 0.28 | 0.14 | 4.40 | 1.03 | -0.01 |
| Average shares (basic) | 263 | 265 | 268 | 263 | 255 | 254 | 252 | 249 | 246 | 243 | 240 | 237 |
| Average shares (diluted) | 263 | 265 | 268 | 292 | 279 | 271 | 277 | 267 | 267 | 268 | 264 | 237 |