Coinbase Income Statement

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

Millions USD. Fiscal year is Jan - Dec.

Fiscal Year	TTM	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Mar '26 Mar 31, 2026	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
Revenue	6,560	7,181	6,564	3,108	3,194	7,839
Revenue Growth (YoY)	-5.76%	9.40%	111.17%	-2.69%	-59.26%	513.66%
Cost of Revenue	913.06	1,020	897.71	420.71	629.88	1,268
Gross Profit	5,647	6,161	5,666	2,688	2,564	6,572
Selling, General & Admin	2,679	2,678	1,955	1,407	2,111	1,573
Research & Development	1,841	1,671	1,468	1,325	2,326	1,292
Other Operating Expenses	418.44	376.83	-63.79	118.18	837.51	630.31
Total Operating Expenses	4,939	4,726	3,359	2,849	5,275	3,495
Operating Income	708.21	1,435	2,307	-161.66	-2,710	3,077
Interest Expense	-87.47	-85.41	-80.65	-82.77	-88.9	-29.16
Other Non-Operating Income (Expense)	354.16	172.04	716.13	167.58	-265.47	-20.46
Total Non-Operating Income (Expense)	266.69	86.62	635.48	84.82	-354.37	-49.62
Pretax Income	974.9	1,522	2,943	-76.85	-3,065	3,027
Provision for Income Taxes	174.3	261.74	363.58	-171.72	-439.63	-597.17
Net Income	800.6	1,260	2,578	94.75	-2,625	3,097
Net Income to Common	800.6	1,260	2,578	94.75	-2,625	3,097
Net Income Growth	-45.46%	-51.11%	2620.53%	-	-	2760.77%
Shares Outstanding (Basic)	263	260	247	236	222	177
Shares Outstanding (Diluted)	276	287	273	254	222	220
Shares Change (YoY)	2.00%	5.06%	7.46%	14.42%	1.08%	141.17%
EPS (Basic)	3.27	4.85	10.42	0.40	-11.81	17.47
EPS (Diluted)	2.66	4.45	9.48	0.37	-11.83	14.50
EPS Growth	-50.19%	-53.06%	2462.16%	-	-	935.71%
Shares Outstanding	263.41	267.84	253.64	242.05	230.87	217.12
Free Cash Flow	2,792	2,426	3,104	673.38	-1,585	4,038
Free Cash Flow Growth	15.06%	-21.83%	360.95%	-	-	1323.72%
Free Cash Flow Per Share	10.12	8.45	11.35	2.65	-7.13	18.36
Gross Margin	86.08%	85.79%	86.32%	86.47%	80.28%	83.83%
Operating Margin	10.80%	19.99%	35.15%	-5.20%	-84.85%	39.24%
Profit Margin	12.20%	17.55%	39.29%	3.05%	-82.18%	46.23%
FCF Margin	42.56%	33.79%	47.29%	21.66%	-49.63%	51.51%
EBITDA	931.32	1,624	2,435	-22.02	-2,556	3,140
EBITDA Margin	14.20%	22.61%	37.09%	-0.71%	-80.02%	40.06%
EBIT	708.21	1,435	2,307	-161.66	-2,710	3,077
EBIT Margin	10.80%	19.99%	35.15%	-5.20%	-84.85%	39.24%
Effective Tax Rate	17.88%	17.20%	12.36%	223.46%	14.35%	-19.73%

SEC Filings: 10-K · 10-Q