Coinbase Global, Inc.

NASDAQ•COIN

CEO: Mr. Brian Armstrong

Sector: Financial Services

Industry: Financial - Data & Stock Exchanges

Listing Date: 2021-04-14

Coinbase Global, Inc. provides financial infrastructure and technology for the crypto economy in the United States and internationally. The company offers the primary financial account in the crypto economy for consumers; and a marketplace with a pool of liquidity for transacting in crypto assets for institutions. It also provides technology and services that enable developers to build crypto products and securely accept crypto assets as payment. The company was founded in 2012 and is based in New York, New York.

Contact Information

One Madison Avenue, Suite 2400, New York, NY, 10010, United States

302-636-5401

www.coinbase.com

Market Cap

$46.24B

P/E (TTM)

36.5

29.6

Dividend Yield

52W High

$444.65

52W Low

$139.36

52W Range

11%

Rank44Top 53.8%

3.7

F-Score

Modified Piotroski Analysis

Based on 6-year fundamentals

Weak • 3.7 / 9 points

Scoring Range (0-9)

8-9: Excellent Value

6-7: Strong Fundamentals

4-5: Average Quality

0-3: Weak Performance

Data Period: 2020-2025

Financial Dashboard

Q4 2025 Data

Revenue

$1.03B+0.00%

4-Quarter Trend

EPS

-$2.49+0.00%

4-Quarter Trend

FCF

$3.07B+0.00%

4-Quarter Trend

2025 Annual Earnings Highlights

Key Highlights

Net Revenue Reached $6.9B Net Revenue reached $6.9B USD, up 9.5% from $6.3B USD last year, showing strong top-line growth.

Subscription Revenue Increased 23% Subscription and services revenue grew 23% to $2.8B USD, driven primarily by stablecoin revenue expansion.

User Base Grew 10% Average Monthly Transacting Users increased 10% to 9.2M, influenced by deeper USDC integration and rewards program participation.

Completed Deribit Acquisition Strategic acquisition of Deribit completed in August 2025, bolstering global derivatives platform goals and adding $2.8B goodwill.

Risk Factors

Net Income Fell Sharply Net Income dropped 51% to $1.3B USD in 2025 compared to $2.6B USD in 2024, impacting profitability.

Assets on Platform Declined Assets on Platform decreased 7% to $376B USD, reflecting broad crypto asset price depreciation during the year.

Data Theft Incident Costs Paid $311.2M USD cash for voluntary customer reimbursements and direct legal costs related to the Data Theft Incident.

Crypto Asset Volatility Risk High volatility of crypto assets, especially Bitcoin and Ethereum, continues to significantly impact operating results and revenue generation.

Outlook

Scaling Everything Exchange Focus remains on advancing the Everything Exchange vision, expanding offerings beyond spot crypto into stocks and futures.

Dynamic Expense Management Plan to dynamically adjust expense base, especially variable expenses, to respond to evolving market conditions and revenue opportunities.

Stablecoin Utility Expansion Scaling USDC adoption and utility, including extending usage for everyday spending via the Coinbase One Card product.

Increased Tax Reporting Scrutiny Tax information reporting obligations face further scrutiny due to implementation of U.S. and global broker reporting regimes.

Peer Comparison

Revenue (TTM)

MFG

$55.71B

-8.2%

BMO

$55.34B

-4.0%

BNS

$51.25B

-5.9%

Gross Margin (Latest Quarter)

CME

85.4%

-1.6pp

AON

83.5%

+1.9pp

ICE

79.7%

+2.4pp

Key Metrics

Symbol	Market Cap	P/E (TTM)	ROE (TTM)	Debt to Assets
CME	$109.42B	27.1	14.5%	1.9%
MFG	$100.78B	15.3	9.7%	21.6%
BMO	$96.21B	14.8	10.5%	11.6%

Long-Term Trends

Last 4 Quarters

Revenue

Net Income

Operating Cash Flow

4Q Revenue CAGR

-20.2%

Growth Under Pressure

4Q Net Income CAGR

N/M

Profitability Shift

Cash Flow Stability

50%

Cash Flow Needs Attention

Deep Research

Next earnings:May 6, 2026

EPS:-

Revenue:-

Financials

Earnings Calls

Reports

News

Income Statement

Balance Sheet

Cash Flow Statement

Ratios

% Chg.

Income Statement	LTM

No Data