Coinbase Global Cash Flow Statement

Financials in millions USD. Fiscal year is January - December.

Millions USD. Fiscal year is Jan - Dec.

Fiscal Year	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Dec '25 Dec 31, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Dec '22 Dec 31, 2022	Dec '21 Dec 31, 2021
Net Income	1,260	2,579	94.87	-2,625	3,624
Depreciation & Amortization	188.43	127.52	139.64	154.07	63.65
Stock-Based Compensation	839.44	912.84	780.67	1,566	820.69
Other Adjustments	169.6	-584.58	-390.46	351.09	-617.25
Change in Receivables	-1.98	-100.57	84.02	-	-
Changes in Income Taxes Payable	-147.45	77.1	-109.1	-36.67	-
Changes in Other Operating Activities	118.03	92.56	-43.92	-1,031	5.53
Operating Cash Flow	2,426	3,104	673.38	-1,585	4,038
Operating Cash Flow Growth	-21.83%	360.95%	-	-	1275.64%
Purchases of Intangible Assets	-	-	-	-	-22.07
Purchases of Investments	-1,165	-95.1	-298.7	-1,400	-3,336
Proceeds from Sale of Investments	756.84	96.93	469.84	969.19	2,574
Payments for Business Acquisitions	-742.04	-	-30.73	-186.15	-70.91
Other Investing Activities	-899.11	-202.83	-346.59	-46.83	-270.19
Investing Cash Flow	-2,050	-201	-206.18	-663.82	-1,125
Short-Term Debt Issued	626.43	122.57	31.64	190.96	20
Short-Term Debt Repaid	-580.66	-48.41	-52.12	-191.07	-
Net Short-Term Debt Issued (Repaid)	45.76	74.16	-20.48	-0.12	20
Long-Term Debt Issued	2,957	1,246	-	-	1,404
Long-Term Debt Repaid	-	-	-303.53	-	-
Net Long-Term Debt Issued (Repaid)	2,957	1,246	-303.53	-	1,404
Issuance of Common Stock	78.29	126.14	47.94	51.5	236.95
Repurchase of Common Stock	-1,193	-117.23	-277.8	-351.87	-262.79
Net Common Stock Issued (Repurchased)	-1,115	8.92	-229.85	-300.37	-25.84
Other Financing Activities	-1,148	1,574	-284.34	-5,538	6,602
Financing Cash Flow	740.28	2,903	-838.21	-5,839	9,976
Effect of Exchange Rate Changes on Cash and Cash Equivalents	92.85	-48.37	8.77	-163.26	-64.88
Net Cash Flow	1,210	5,758	-362.23	-8,251	12,825
Free Cash Flow	2,426	3,104	673.38	-1,585	4,038
Free Cash Flow Growth	-21.83%	360.95%	-	-	1323.72%
FCF Margin	33.79%	47.29%	21.66%	-49.63%	51.51%
Free Cash Flow Per Share	8.45	11.35	2.65	-7.13	18.36
Levered Free Cash Flow	4,422	4,195	-242.64	-3,539	4,590
Unlevered Free Cash Flow	1,348	2,319	186.21	-3,235	3,753

Updated Dec 31, 2025. Data Source: Fiscal.ai. Standard template. Financial Sources.