Coinbase 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
Asset Writedown & Restructuring Costs	-	-	-	-	0.5
Loss (Gain) From Sale of Investments	-680.52	11.55	-24.37	101.45	-20.14
Stock-Based Compensation	839.44	912.84	780.67	1,566	820.69
Other Operating Activities	850.12	-596.13	-366.09	249.64	-592.08
Change in Accounts Receivable	-1.98	-100.57	84.02	-141.02	28.51
Change in Accounts Payable	-	-	-	-	27.33
Change in Income Taxes	-147.45	77.1	8.55	1.91	-62.15
Change in Other Net Operating Assets	118.03	92.56	-43.92	-892.33	147.74
Operating Cash Flow	2,426	3,104	673.38	-1,585	4,038
Operating Cash Flow Growth	-21.83%	360.95%	-	-	1275.64%
Cash Acquisitions	-742.04	-	-30.73	-186.15	-70.91
Sale (Purchase) of Intangibles	-	-	-	-	-82.87
Investment in Securities	112.87	-54.91	-15.29	-	-326.51
Other Investing Activities	-631.69	28.62	115.73	-597.86	-432.77
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
Long-Term Debt Issued	2,957	1,246	-	-	3,380
Total Debt Issued	3,584	1,369	31.64	190.96	3,400
Short-Term Debt Repaid	-580.66	-48.41	-52.12	-191.07	-
Long-Term Debt Repaid	-	-	-303.53	-	-
Total Debt Repaid	-580.66	-48.41	-355.66	-191.07	-
Net Debt Issued (Repaid)	3,003	1,320	-324.02	-0.12	3,400
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
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
Foreign Exchange Rate Adjustments	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%
Free Cash Flow Margin	35.25%	49.32%	23.01%	-50.35%	51.52%
Free Cash Flow Per Share	8.45	11.35	2.65	-7.13	18.36
Cash Interest Paid	-	-	-	82.4	3.79
Cash Income Tax Paid	164.87	140.34	39.12	35.89	68.61
Levered Free Cash Flow	1,298	1,821	1,445	-1,145	2,651
Unlevered Free Cash Flow	1,352	1,871	1,497	-1,090	2,670
Change in Working Capital	-31.41	69.09	48.65	-1,031	141.44

Updated Feb 12, 2026. Source: S&P Global Market Intelligence. Standard template. Financial Sources.

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