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

Updated Feb 12, 2026. Data Source: Fiscal.ai. Standard template. Financial Sources.

SEC Filings: 10-K · 10-Q