Coinbase Income Statement

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

Millions USD. Fiscal year is Jan - Dec.

Fiscal Year	TTM	FY 2024	FY 2023	FY 2022	FY 2021	FY 2020
Period Ending	Sep '25 Sep 30, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Dec '22 Dec 31, 2022	Dec '21 Dec 31, 2021	Dec '20 Dec 31, 2020
Operating Revenue	7,370	6,293	2,927	3,149	7,355	1,141
Other Revenue	-	-	-	-	482.55	133.69
Revenue	7,370	6,293	2,927	3,149	7,837	1,275
Revenue Growth (YoY)	47.38%	115.04%	-7.06%	-59.82%	514.76%	143.85%
Cost of Revenue	1,119	897.71	420.71	629.88	1,268	135.51
Gross Profit	6,252	5,396	2,506	2,519	6,569	1,139
Selling, General & Admin	2,499	1,955	1,382	2,111	1,526	335.56
Research & Development	1,542	1,468	1,325	2,326	1,291	271.73
Other Operating Expenses	-37.81	-63.79	-24.42	796.8	477.15	124.62
Operating Expenses	4,003	3,359	2,682	5,234	3,294	731.92
Operating Income	2,249	2,036	-175.91	-2,715	3,275	407.43
Interest Expense	-83.36	-80.65	-82.77	-88.9	-29.16	-
Interest & Investment Income	301.4	270.78	181.84	45.39	2.14	2.63
Currency Exchange Gain (Loss)	-2.49	-2.49	-10.61	-161.75	-40.99	-1.06
Other Non Operating Income (Expenses)	714.69	728.31	36.38	-2.51	-181.17	4.59
EBT Excluding Unusual Items	3,179	2,952	-51.06	-2,923	3,026	413.58
Merger & Restructuring Charges	-	-	-142.59	-40.7	-8	-1.1
Gain (Loss) on Sale of Investments	1,081	-9.69	24.43	-101.22	48.54	-
Asset Writedown	-	-	-	-	-0.5	-
Other Unusual Items	-354.63	-	92.38	-	-39.2	-3.28
Pretax Income	3,905	2,943	-76.85	-3,065	3,027	409.2
Income Tax Expense	687.01	363.58	-171.72	-439.63	-597.17	86.88
Net Income	3,218	2,579	94.87	-2,625	3,624	322.32
Preferred Dividends & Other Adjustments	0.53	1.31	0.12	-	527.16	214.06
Net Income to Common	3,218	2,578	94.75	-2,625	3,097	108.26
Net Income Growth	106.12%	2618.50%	-	-	1024.40%	-
Shares Outstanding (Basic)	256	247	236	222	177	69
Shares Outstanding (Diluted)	282	273	254	222	220	91
Shares Change (YoY)	-0.40%	7.46%	14.42%	1.08%	141.17%	48.75%
EPS (Basic)	12.57	10.42	0.40	-11.81	17.47	1.58
EPS (Diluted)	11.48	9.48	0.37	-11.83	14.50	1.40
EPS Growth	106.78%	2444.87%	-	-	937.81%	-
Free Cash Flow	325.85	2,557	922.95	-1,585	4,038	283.64
Free Cash Flow Per Share	1.16	9.35	3.63	-7.13	18.36	3.11
Gross Margin	84.82%	85.73%	85.62%	80.00%	83.82%	89.37%
Operating Margin	30.51%	32.36%	-6.01%	-86.22%	41.79%	31.96%
Profit Margin	43.66%	40.96%	3.24%	-83.36%	39.52%	8.49%
Free Cash Flow Margin	4.42%	40.63%	31.54%	-50.35%	51.52%	22.25%
EBITDA	2,399	2,164	-36.27	-2,561	3,339	438.39
EBITDA Margin	32.55%	34.38%	-1.24%	-81.33%	42.60%	34.39%
D&A For EBITDA	150.31	127.52	139.64	154.07	63.65	30.96
EBIT	2,249	2,036	-175.91	-2,715	3,275	407.43
EBIT Margin	30.51%	32.36%	-6.01%	-86.22%	41.79%	31.96%
Effective Tax Rate	17.59%	12.35%	-	-	-	21.23%
Revenue as Reported	7,672	6,564	3,108	3,194	7,839	1,277

Updated Oct 30, 2025. Source: S&P Global Market Intelligence. Standard template. Financial Sources.

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