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Nasdaq · Financials

Coinbase Global, Inc. (COIN)

As-reported financials and SEC filings for Coinbase Global, Inc. The latest annual period is FY2025. The latest reported quarter is Q2 FY2026. Financial statements come straight from the company’s EDGAR filings; valuation figures such as P/E and market cap use market data.

About Coinbase Global, Inc.

Coinbase Global, Inc. operates a platform that allows retail consumers, institutional clients, and developers to trade and manage crypto assets as well as other financial products like stocks, commodity futures, and derivatives. The company offers various trading experiences, including simple and advanced interfaces, and provides institutional services through its prime brokerage and multiple exchanges. Coinbase also supports blockchain-based products such as the Base decentralized Ethereum blockchain and a self-custodial wallet app, and it generates revenue from transaction fees, subscription products, and staking services.

Snapshot

Revenue
$7.18B
Revenue growth (YoY)
9.4%
Net income
$1.26B
Diluted EPS
$4.45
Gross margin
—
Operating margin
20.0%
Net margin
17.6%
FCF margin
—
ROE
8.5%
net income / fiscal-year-end equity
P/E
n/m
not meaningful: a reported loss in the fiscal year or the trailing twelve months
Market cap
$45.69B
Long-term debt / equity
0.40×
non-current term debt only

Fundamentals are from SEC filings for FY2025, the latest annual period (ended December 31, 2025). P/E and market cap are derived from stored market prices, last retrieved on a rolling basis and typically within the past week.

What changed at Coinbase Global

  • Revenue grew 9.4% to $7.2B in FY2025, slower than the 111.2% the year before.
  • Operating margin is 20.0% in FY2025, -19.3 pp against 39.2% in FY2021.
  • Most recent quarter Q2 FY2026: revenue $1.2B, down 18.5% from Q2 FY2025.
  • Net income fell 51.1% to $1.3B in FY2025.

Computed from the as-reported figures in the statements below. A change we cannot state from filed figures is left out rather than estimated.

Peer comparison

Where Coinbase Global’s fundamentals sit among the 424 Financials companies. Each figure is ranked only against peers that report it, from lowest (left) to highest (right).

Operating margin20.0%
59th percentile of 141
Net margin17.6%
54th percentile of 372
Revenue growth (YoY)+9.4%
48th percentile of 418
ROE8.5%
44th percentile of 373
Long-term debt / equity0.40×
54th percentile of 192
Short interest2.50d
32nd percentile of 419

No reported insider purchases (code P) in the last 90 days; 31 insider sales totaling $23.0M. For context, about 15% of companies in the universe saw any reported insider purchase (code P) in the same window. Browse insider activity →

Percentiles describe where a figure sits among sector peers reporting it (100th = highest). They are position within a peer group, not a rating, and not investment advice. Short interest ranking uses days to cover from FINRA Consolidated Short Interest data; FINRA is the owner and source of that data, included at no additional charge.

Institutional ownership

Held by 2 of the superinvestors we track (plus 6 quant / multi-strat books), based on each investor’s most recent 13F; periods vary by investor (newest: Q2 2026).

Conviction investors
2
+6 quant / multi-strat
Initiated / added
5
1 new, 4 added
Reduced / exited
3
3 trimmed, 0 exited
Combined position
$513.1M
reported long value
InvestorAs ofPosition valueSharesChange
ARK Investment ManagementQ2 2026$367.1M2.5MAdded
D. E. ShawquantQ2 2026$43.6M298.3KAdded
Citadel AdvisorsquantQ2 2026$27.9M190.5KReduced
AQR Capital ManagementquantQ2 2026$23.1M157.8KAdded
Two Sigma InvestmentsquantQ2 2026$21.8M149.1KAdded
Millennium ManagementquantQ2 2026$15.8M107.9KReduced
Renaissance TechnologiesquantQ2 2026$13.5M92.6KNew
Gotham Asset ManagementQ2 2026$346,9092.4KReduced

From quarterly Form 13F filings, which can be up to 45 days delayed. Long US-listed positions only: excludes short positions, options, cash, bonds, and non-US holdings, so this is not a manager’s complete portfolio. Counts are of the investors we track, not all institutions. Not investment advice.

Recent insider activity

Non-derivative buys and sells (codes P/S) reported by officers, directors and 10% owners on SEC Form 4.

Buys (90d)
0
code P
Bought (90d)
—
code P value
Sells (90d)
31
$23.0M
Reported activity
Net selling
by $ value, 90d
Trade dateInsiderTypeSharesPriceValue
2026-10-02
filed 2026-10-05
Marc L. AndreessenDirectorSell6.8K$198.00$1.4M
2026-10-01
filed 2026-10-05
Marc L. AndreessenDirectorSell13.7K$186.18$2.5M
2026-09-21
filed 2026-09-23
Alesia J. HaasChief Financial OfficerSell35.8K$205.14$7.4M
2026-09-21
filed 2026-09-23
Marc L. AndreessenDirectorSell6.8K$205.05$1.4M
2026-09-21
filed 2026-09-23
Alesia J. HaasChief Financial OfficerSell1.4K$206.42$291K
2026-09-21
filed 2026-09-23
Alesia J. HaasChief Financial OfficerSell1.4K$207.10$284K
2026-09-21
filed 2026-09-23
Alesia J. HaasChief Financial OfficerSell410$203.67$84K
2026-09-08
filed 2026-09-10
Marc L. AndreessenDirectorSell13.7K$181.14$2.5M
2026-09-01
filed 2026-09-03
Frederick R. WilsonDirectorSell3.4K$177.09$602K
2026-09-01
filed 2026-09-03
Frederick R. WilsonDirectorSell1.4K$178.28$250K
2026-09-01
filed 2026-09-03
Frederick R. WilsonDirectorSell1.3K$180.77$238K
2026-09-01
filed 2026-09-03
Frederick R. WilsonDirectorSell1.2K$179.99$213K

Reported non-derivative purchases and sales (codes P/S), which may be open-market or private. Excludes option exercises, grants, and shares withheld for taxes. Dates shown are the trade date; a Form 4 can be filed days to years later. A sale can be routine (e.g. a pre-set 10b5-1 plan), so read individual transactions in context. From SEC Form 4. Not investment advice.

Short interest

Total shares sold short as of each twice-monthly FINRA settlement. Rising short interest means more investors are positioned against the stock; days to cover estimates how many trading days of average volume that position represents.

Shares short
24.4M
settled 2026-09-30
Change vs prior
-3.4%
vs previous settlement
Days to cover
2.50
at avg daily volume
Avg daily volume
9.7M
FINRA reported
SettlementShares shortChangeDays to cover
2026-09-3024.4M-3.4%2.50
2026-09-1525.2M-7.8%2.78
2026-08-3127.4M+19.5%2.37
2026-08-1422.9M+5.2%3.27
2026-07-3121.8M-13.0%2.72
2026-07-1525.0M+0.8%3.67
2026-06-3024.9M-7.1%2.97
2026-06-1526.8M+9.8%3.00

Source: FINRA Consolidated Short Interest. FINRA is the owner and source of the FINRA-supplied data, which is included at no additional charge for your own personal or professional use; republishing or redistributing it is not permitted. Settlement dates are shown; FINRA publishes each settlement about nine business days later, so the latest figure can be two to four weeks old. Not presented as a percentage of float. No FINRA endorsement of this product is implied. Not investment advice.

Income statement (as reported)

 FY2025FY2024FY2023FY2022FY2021
Revenue$7.18B$6.56B$3.11B$3.19B$7.84B
Gross profit—————
Operating income$1.44B$2.31B$-161.7M$-2.71B$3.08B
Net income$1.26B$2.58B$94.9M$-2.62B$3.62B
Diluted EPS$4.45$9.48$0.37$-11.83$14.50

Figures as reported to the SEC. Underlined values link to the filing they came from; dotted values are calculated by us from reported figures; “adj” means restated for a stock split (tap or hover a figure to see how it was calculated or what was filed). Full details: where the numbers come from.

Balance sheet (as reported)

Figures as reported to the SEC. Underlined values link to the filing they came from; dotted values are calculated by us from reported figures; “adj” means restated for a stock split (tap or hover a figure to see how it was calculated or what was filed). Full details: where the numbers come from.

Cash flow (as reported)

 FY2025FY2024FY2023FY2022FY2021
Operating cash flow$2.43B$3.10B$673.4M$-1.59B$4.04B
Capital expenditure———$2.9M$2.9M
Free cash flow———

Figures as reported to the SEC. Underlined values link to the filing they came from; dotted values are calculated by us from reported figures; “adj” means restated for a stock split (tap or hover a figure to see how it was calculated or what was filed). Full details: where the numbers come from.

Quarterly trend

QuarterRevenueRevenue YoYNet incomeDiluted EPS
Q2 FY2026$1.22B-18.5%$-359.5M$-1.36
Q1 FY2026$1.41B-30.5%$-394.1M$-1.49
Q4 FY2025-21.6%
Q3 FY2025$1.87B55.1%$432.6M$1.50
Q2 FY2025$1.50B3.3%$1.43B$5.14
Q1 FY2025$2.03B24.2%$65.6M$0.24
Q4 FY2024138.2%
Q3 FY2024$1.21B78.8%$75.5M$0.28

Latest 8 quarters, from company XBRL filings on SEC EDGAR. A dotted underline marks a fourth-quarter figure we calculated from the full year and the first nine months. Revenue YoY is our calculation too: each quarter against the same quarter a year earlier.

Company facts

ExchangeNasdaq
SectorFinancials
SIC industryFinance Services
Latest annual periodFY2025 (ended December 31, 2025)
Latest reported quarterQ2 FY2026 (ended June 30, 2026)
Oldest indexed filing2022
SEC CIK1679788

Selected SEC filings

10-K2026-02-12
View on EDGAR →
10-K2025-02-13
View on EDGAR →
10-Q2026-07-30
View on EDGAR →
10-Q2026-05-07
View on EDGAR →
10-Q2025-10-30
View on EDGAR →
10-Q2025-07-31
View on EDGAR →
8-K2026-10-02
View on EDGAR →
8-K2026-09-02
View on EDGAR →

Largest Financials peers

All Financials companies →

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Data sourced from SEC EDGAR. Figures are as-reported and may be unaudited or restated; verify against the source filing before relying on them. Informational only. Not investment advice.