Coinbase Global, Inc.'s income statement, balance sheet and cash flow statement as filed with the SEC (10-K and 10-Q), with the latest fiscal years and quarters. In its latest fiscal year (Dec 31, 2025 · FY), Coinbase Global, Inc. reported revenue of $7.2B (+9.4% year on year) and net income of $1.3B (-51.1% year on year).
| Line item | Dec 31, 2025 · FY | Dec 31, 2024 · FY | Dec 31, 2023 · FY | Dec 31, 2022 · FY |
|---|---|---|---|---|
| Revenue | $7.2B | $6.6B | $3.1B | $3.2B |
| Transaction expense | $1.0B | $897.7M | $420.7M | $629.9M |
| Technology and development | $1.7B | $1.5B | $1.3B | $2.3B |
| Sales and marketing | $1.1B | $654.4M | $332.3M | $510.1M |
| General and administrative | $1.6B | $1.3B | $1.0B | $1.6B |
| Losses (gains) on crypto assets held for operations, net | $20.7M | ($71.7M) | — | — |
| Crypto asset impairment, net | $0 | $0 | ($34.7M) | — |
| Restructuring | $0 | $0 | $142.6M | $40.7M |
| Other operating expense, net | $356.1M | $7.9M | $43.3M | $796.8M |
| Total operating expenses | $5.7B | $4.3B | $3.3B | $5.9B |
| Operating income (loss) | $1.4B | $2.3B | ($161.7M) | ($2.7B) |
| Interest expense | $85.4M | $80.6M | $82.8M | $88.9M |
| Losses (gains) on crypto assets held for investment, net | $528.9M | ($687.1M) | — | — |
| Other income, net | ($700.9M) | ($29.1M) | ($167.6M) | $265.5M |
| Income (loss) before income taxes | $1.5B | $2.9B | ($76.8M) | ($3.1B) |
| Provision for (benefit from) income taxes | $261.7M | $363.6M | ($171.7M) | ($439.6M) |
| Net income | $1.3B | $2.6B | $94.9M | ($2.6B) |
| Basic | $1.3B | $2.6B | $94.8M | ($2.6B) |
| Diluted | $1.3B | $2.6B | $94.8M | ($2.6B) |
| Basic (in dollars per share) | $4.85 | $10.42 | $0.40 | -$11.81 |
| Diluted (in dollars per share) | $4.45 | $9.48 | $0.37 | -$11.83 |
| Basic (in shares) | 260.1M | 247.4M | 235.8M | 222.3M |
| Diluted (in shares) | 287.2M | 273.4M | 254.4M | 222.3M |
| Line item | Jun 30, 2026 · Q2 | Mar 31, 2026 · Q1 | Sep 30, 2025 · Q3 | Jun 30, 2025 · Q2 |
|---|---|---|---|---|
| Revenue | $1.2B | $1.4B | $1.9B | $1.5B |
| Transaction expense | $189.8M | $195.9M | $253.3M | $245.3M |
| Technology and development | $472.8M | $525.6M | $430.6M | $387.3M |
| Sales and marketing | $239.8M | $266.7M | $260.3M | $236.2M |
| General and administrative | $356.9M | $376.1M | $418.4M | $353.7M |
| Losses on crypto assets held for operations, net | $31.7M | $35.2M | ($35.7M) | ($8.7M) |
| Restructuring | $52.4M | — | — | — |
| Other operating (income) expense, net | ($10.0M) | $34.9M | $61.3M | $308.0M |
| Total operating expenses | $1.3B | $1.4B | $1.4B | $1.5B |
| Operating (loss) income | ($113.5M) | ($21.4M) | $480.5M | ($24.6M) |
| Interest expense | $22.5M | $22.6M | $21.8M | $20.5M |
| Losses on crypto assets held for investment, net | $209.5M | $482.4M | ($423.9M) | ($362.1M) |
| Other expense (income), net | $49.9M | ($61.6M) | $380.5M | ($1.5B) |
| (Loss) income before income taxes | ($395.4M) | ($464.7M) | $502.1M | $1.8B |
| (Benefit from) provision for income taxes | ($35.9M) | ($70.6M) | $69.6M | $394.9M |
| Net (loss) income | ($359.5M) | ($394.1M) | $432.6M | $1.4B |
| Basic | ($359.5M) | ($394.1M) | $432.6M | $1.4B |
| Diluted | ($359.5M) | ($394.1M) | $437.1M | $1.4B |
| Basic (in dollars per share) | -$1.36 | -$1.49 | $1.65 | $5.60 |
| Diluted (in dollars per share) | -$1.36 | -$1.49 | $1.50 | $5.14 |
| Basic (in shares) | 263.4M | 264.8M | 262.8M | 255.2M |
| Diluted (in shares) | 263.4M | 264.8M | 292.0M | 278.9M |
| Line item | Dec 31, 2025 · FY | Dec 31, 2024 · FY | Dec 31, 2023 · FY | Dec 31, 2022 · FY |
|---|---|---|---|---|
| Cash and cash equivalents | $11.3B | $8.5B | $5.1B | $4.4B |
| Restricted cash and cash equivalents | $334.3M | $38.5M | — | — |
| Customer custodial funds | $5.3B | $6.2B | $4.6B | $5.0B |
| Crypto assets held for operations | $120.8M | $82.8M | — | — |
| Loan receivables | $1.4B | $475.4M | — | — |
| Crypto assets held as collateral | $822.8M | $767.5M | — | — |
| Crypto assets borrowed | $318.8M | $261.1M | — | — |
| Accounts receivable, net | $307.1M | $265.3M | — | — |
| Marketable investments | $309.8M | — | — | — |
| Other current assets | $187.2M | $277.5M | — | — |
| Total current assets | $20.4B | $18.1B | $203.5B | $86.4B |
| Crypto assets held for investment | $2.0B | $1.6B | — | — |
| Strategic investments | $623.0M | — | — | — |
| Deferred tax assets | $570.8M | $941.3M | $1.3B | — |
| Software and equipment, net | $264.6M | $200.1M | — | — |
| Goodwill | $4.2B | $1.1B | $1.1B | $1.1B |
| Intangible assets, net | $1.4B | $46.8M | $86.4M | $135.4M |
| Other non-current assets | $259.4M | $548.5M | $362.9M | $1.4B |
| Total assets | $29.7B | $22.5B | $207.0B | $89.7B |
| Customer custodial fund liabilities | $5.3B | $6.2B | $4.6B | — |
| Accounts payable | $117.6M | $63.3M | $39.3M | $56.0M |
| Current portion of long-term debt | $1.3B | — | — | — |
| Short-term borrowings | $452.1M | — | — | — |
| Obligation to return collateral | $826.9M | $792.1M | — | — |
| Accrued expenses and other current liabilities | $687.7M | $626.8M | $447.1M | $331.2M |
| Total current liabilities | $8.7B | $7.9B | $197.7B | $80.8B |
| Long-term debt | $5.9B | $4.2B | $3.0B | $3.4B |
| Other non-current liabilities | $240.5M | $89.7M | $3.4M | $19.5M |
| Total liabilities | $14.9B | $12.3B | $200.7B | $84.3B |
| Preferred stock, $0.00001 par value; 500,000 shares authorized and zero shares issued and outstanding at each of December 31, 2025 and December 31, 2024 | 0 | — | 0 | — |
| Class A and B common stock, $0.00001 par value; 10,500,000 (Class A 10,000,000, Class B 500,000) shares authorized at December 31, 2025 and December 31, 2024; 267,836 (Class A 226,797, Class B 41,039) shares issued and outstanding at December 31, 2025 and 253,640 (Class A 209,762, Class B 43,878) shares issued and outstanding at December 31, 2024 | 3.0K | 2.0K | 2.0K | 2.0K |
| Additional paid-in capital | $8.6B | $5.4B | $4.5B | $3.8B |
| Accumulated other comprehensive income (loss) | $5.0M | ($50.1M) | ($30.3M) | ($38.6M) |
| Retained earnings | $6.2B | $5.0B | $1.8B | $1.7B |
| Total shareholders’ equity | $14.8B | $10.3B | $6.3B | $5.5B |
| Total liabilities and shareholders’ equity | $29.7B | $22.5B | $207.0B | $89.7B |
| Line item | Jun 30, 2026 | Mar 31, 2026 | Sep 30, 2025 | Jun 30, 2025 |
|---|---|---|---|---|
| Cash and cash equivalents | $8.6B | $10.2B | $8.7B | $7.5B |
| Restricted cash and cash equivalents | $275.8M | $294.8M | $78.9M | $69.2M |
| Customer custodial funds | $4.3B | $5.5B | $5.7B | $5.1B |
| Crypto assets held for operations | $86.5M | $90.7M | $161.1M | $126.0M |
| Loan receivables | $1.6B | $1.4B | $859.1M | $803.4M |
| Crypto assets held as collateral | $1.6B | $1.1B | $1.0B | $951.3M |
| Crypto assets borrowed | $229.1M | $246.4M | $346.0M | $223.6M |
| Accounts receivable, net | $333.2M | $296.2M | $308.4M | $223.0M |
| Marketable investments | $174.8M | $233.0M | $1.1B | — |
| Other current assets | $259.3M | $250.7M | $184.2M | $279.2M |
| Total current assets | $17.5B | $19.7B | $22.1B | $17.5B |
| Crypto assets held for investment | $1.5B | $1.6B | $2.6B | $1.8B |
| Strategic investments | $840.3M | $832.4M | $401.7M | $1.9B |
| Deferred tax assets | $682.4M | $647.7M | $324.1M | $541.4M |
| Goodwill | $4.1B | $4.2B | $4.0B | $1.2B |
| Intangible assets, net | $1.3B | $1.4B | $1.4B | — |
| Other non-current assets | $521.5M | $514.3M | $513.1M | $517.8M |
| Total assets | $26.5B | $28.8B | $31.4B | $23.5B |
| Customer custodial fund liabilities | $4.3B | $5.5B | $5.7B | $5.1B |
| Current portion of long-term debt | $0 | $1.3B | $1.3B | $1.3B |
| Short-term borrowings | $539.2M | $564.6M | — | — |
| Obligation to return collateral | $1.7B | $1.2B | $1.0B | $972.7M |
| Accrued expenses and other current liabilities | $723.7M | $726.7M | $835.5M | $601.4M |
| Total current liabilities | $7.2B | $9.2B | $9.2B | $8.2B |
| Long-term debt | $5.9B | $5.9B | $5.9B | $3.0B |
| Other non-current liabilities | $217.5M | $236.7M | $205.3M | $176.8M |
| Total liabilities | $13.4B | $15.4B | $15.3B | $11.4B |
| Preferred stock, $0.00001 par value; 500,000 shares authorized and zero shares issued and outstanding at each of June 30, 2026 and December 31, 2025 | 0 | 0 | 0 | 0 |
| Class A and B common stock, $0.00001 par value; 10,500,000 (Class A 10,000,000, Class B 500,000) shares authorized at June 30, 2026 and December 31, 2025; 263,782 (Class A 222,748, Class B 41,034) shares issued and outstanding at June 30, 2026 and 267,836 (Class A 226,797, Class B 41,039) shares issued and outstanding at December 31, 2025 | 3.0K | 3.0K | 3.0K | 2.0K |
| Additional paid-in capital | $7.7B | $7.7B | $9.1B | $5.6B |
| Accumulated other comprehensive (loss) income | ($98.3M) | ($13.3M) | $3.5M | ($60.0K) |
| Retained earnings | $5.5B | $5.8B | $6.9B | $6.5B |
| Total shareholders’ equity | $13.1B | $13.5B | $16.0B | $12.1B |
| Total liabilities and shareholders’ equity | $26.5B | $28.8B | $31.4B | $23.5B |
| Line item | Dec 31, 2025 · FY | Dec 31, 2024 · FY | Dec 31, 2023 · FY | Dec 31, 2022 · FY |
|---|---|---|---|---|
| Net income | $1.3B | $2.6B | $94.9M | ($2.6B) |
| Depreciation and amortization | $188.4M | $127.5M | $139.6M | $154.1M |
| Stock-based compensation expense | $839.4M | $912.8M | $780.7M | $1.6B |
| Deferred income taxes | $238.3M | $151.3M | ($216.3M) | ($468.0M) |
| Losses (gains) on crypto assets held for operations, net | $20.7M | ($71.7M) | — | — |
| Losses (gains) on crypto assets held for investment, net | $528.9M | ($687.1M) | — | — |
| (Gains) losses on investments, net | ($680.5M) | — | ($50.1M) | $3.1M |
| Gains on extinguishment of long-term debt, net | $0 | $0 | ($117.4M) | — |
| Other operating activities, net | $62.2M | $4.2M | $17.0M | — |
| Accounts receivable, net | ($2.0M) | — | — | — |
| Customer custodial funds in transit | $57.2M | — | — | — |
| Income taxes, net | ($147.4M) | — | — | $1.9M |
| Other current and non-current assets | ($47.2M) | — | — | $19.2M |
| Other current and non-current liabilities | $108.1M | — | — | ($100.8M) |
| Net cash provided by operating activities | $2.4B | $2.6B | $923.0M | ($1.6B) |
| Loans originated | ($12.5B) | — | ($586.7M) | ($207.3M) |
| Proceeds from repayment of loans | $11.7B | $1.5B | $513.7M | $327.5M |
| Assets pledged as collateral | ($16.0M) | — | ($27.9M) | ($41.6M) |
| Return of assets pledged as collateral | $16.2M | — | — | — |
| Business combinations, net of cash and cash equivalents acquired | ($742.0M) | $0 | ($30.7M) | ($186.2M) |
| Purchases of crypto assets held for investment | ($787.8M) | — | ($277.4M) | ($1.4B) |
| Dispositions of crypto assets held for investment | $266.5M | — | $461.3M | $969.2M |
| Purchase of investments | ($377.4M) | — | ($11.8M) | ($63.0M) |
| Dispositions of investments | $490.3M | — | — | — |
| Other investing activities, net | ($110.6M) | ($70.8M) | $3.1M | — |
| Net cash used in investing activities | ($2.0B) | ($282.4M) | $5.4M | ($663.8M) |
| Issuance of common stock upon exercise of stock options, net of repurchases | $78.3M | $126.1M | $47.9M | $51.5M |
| Issuances of convertible senior notes, net | $3.0B | $1.2B | $0 | $0 |
| Repurchase of common stock | ($790.2M) | — | — | — |
| Repayment of long-term debt | $0 | $0 | ($303.5M) | — |
| Purchases of capped calls | ($224.3M) | ($104.1M) | — | — |
| Customer custodial fund liabilities | ($936.2M) | $1.6B | ($274.8M) | ($5.6B) |
| Customer collateral received | $871.4M | $567.8M | $66.0M | — |
| Return of customer collateral | ($892.0M) | ($544.2M) | ($65.0M) | — |
| Taxes paid related to net share settlement of equity awards | ($402.8M) | ($117.2M) | ($277.8M) | ($351.9M) |
| Proceeds from short-term borrowings | $626.4M | $0 | $31.6M | $191.0M |
| Repayments of short-term borrowings | ($580.7M) | $0 | ($52.1M) | ($191.1M) |
| Other financing activities, net | $33.1M | $16.4M | $0 | $3.7M |
| Net cash provided by (used in) financing activities | $740.3M | $2.8B | ($811.3M) | ($5.8B) |
| Net increase (decrease) in cash, cash equivalents, and restricted cash and cash equivalents | $1.1B | $5.1B | $117.0M | ($8.1B) |
| Effect of exchange rates on cash, cash equivalents, and restricted cash and cash equivalents | $92.8M | ($48.4M) | $8.8M | ($163.3M) |
| Cash, cash equivalents, and restricted cash and cash equivalents, beginning of period | $15.7B | $9.6B | $9.4B | $17.7B |
| Cash, cash equivalents, and restricted cash and cash equivalents, end of period | $16.9B | $14.6B | — | — |
| Line item | Jun 30, 2026 · YTD | Mar 31, 2026 · Q1 | Sep 30, 2025 · YTD | Jun 30, 2025 · YTD |
|---|---|---|---|---|
| Net (loss) income | ($753.6M) | ($394.1M) | $1.9B | $1.5B |
| Depreciation and amortization | $132.4M | $68.0M | $117.3M | $67.2M |
| Stock-based compensation expense | $486.4M | $248.1M | $609.0M | $386.9M |
| Deferred income taxes | ($109.9M) | ($77.2M) | $486.5M | $400.0M |
| Losses on crypto assets held for operations, net | $66.9M | $35.2M | ($10.1M) | $25.7M |
| Losses on crypto assets held for investment, net | $691.9M | $482.4M | ($189.3M) | $234.6M |
| Losses (gains) on investments, net | $11.4M | ($46.8M) | — | — |
| Other operating activities, net | $55.7M | $23.5M | $6.8M | $48.6M |
| Income taxes, net | ($41.8M) | — | — | — |
| Crypto assets held for operations | ($24.1M) | — | — | — |
| Other current and non-current assets | ($59.2M) | ($25.3M) | — | — |
| Other current and non-current liabilities | ($76.1M) | ($130.9M) | — | — |
| Net cash provided by operating activities | $380.1M | $182.7M | ($638.8M) | $145.7M |
| Loans originated | ($5.9B) | ($3.0B) | — | — |
| Proceeds from repayment of loans | $5.7B | $3.0B | $819.5M | $588.0M |
| Purchases of crypto assets held for investment | ($166.6M) | ($83.0M) | ($679.9M) | ($458.7M) |
| Dispositions of crypto assets held for investment | $33.9M | $18.9M | $226.4M | $62.4M |
| Purchase of investments | ($251.6M) | ($217.5M) | — | — |
| Dispositions of investments | $153.6M | $129.0M | — | — |
| Other investing activities, net | ($73.1M) | ($18.0M) | ($84.3M) | ($153.0M) |
| Net cash used in investing activities | ($500.6M) | ($239.1M) | ($1.7B) | ($916.8M) |
| Repayment of long-term debt | ($1.3B) | — | — | — |
| Repurchase of common stock | ($1.2B) | ($1.1B) | — | — |
| Customer custodial fund liabilities | ($1.0B) | $149.8M | ($600.4M) | ($1.1B) |
| Customer collateral received | $11.4M | $7.5M | $499.4M | $370.6M |
| Return of customer collateral | ($3.7M) | ($1.3M) | ($514.5M) | ($373.8M) |
| Taxes paid related to net share settlement of equity awards | ($224.3M) | ($118.9M) | ($308.8M) | ($201.4M) |
| Proceeds from short-term borrowings | $500.9M | $243.5M | — | — |
| Repayments of short-term borrowings | ($345.9M) | ($101.9M) | — | — |
| Other financing activities, net | $31.1M | $18.7M | $87.5M | $60.6M |
| Net cash used in financing activities | ($3.6B) | ($864.9M) | $1.9B | ($1.3B) |
| Net decrease in cash, cash equivalents, and restricted cash and cash equivalents | ($3.7B) | ($921.2M) | ($395.1M) | ($2.1B) |
| Effect of exchange rates on cash, cash equivalents, and restricted cash and cash equivalents | ($47.3M) | ($38.2M) | $89.9M | $79.8M |
| Cash, cash equivalents, and restricted cash and cash equivalents, beginning of period | $16.9B | $16.9B | $14.6B | $14.6B |
| Cash, cash equivalents, and restricted cash and cash equivalents, end of period | $13.2B | $15.9B | $14.3B | $12.6B |
| Cash and cash equivalents | $8.6B | $10.2B | — | — |
| Restricted cash and cash equivalents | $275.8M | $294.8M | — | — |
| Customer custodial cash and cash equivalents | $4.3B | $5.4B | — | — |
| Total cash, cash equivalents, and restricted cash and cash equivalents | $13.2B | $15.9B | — | — |
| Crypto assets borrowed | $1.9B | $1.2B | — | — |
| Crypto assets borrowed repaid | $1.9B | $1.3B | — | — |
| Customer crypto assets received as collateral | $2.7B | $1.4B | — | — |
| Customer crypto asset collateral returned | $1.4B | $986.6M | — | — |
| Crypto asset loan receivables originated | $2.2B | $1.1B | — | — |
| Crypto asset loan receivables repaid | $2.2B | $1.0B | — | — |
Coinbase Global, Inc. score and earnings-call analysis · All covered companies
Figures as reported in SEC filings. General information, not investment advice.