Coinbase Global, Inc.
Profit after direct costs
Core business profitability
Bottom line profitability
Top line growth rate
Flow of revenue through cost categories to net income
| Item | Trend | 2021 | 2022 | 2023 | 2024 | 2025 | YoY Change |
|---|---|---|---|---|---|---|---|
Total Revenue | 7.84B | 3.19B | 3.11B | 6.56B | 7.18B | 9.4% | |
| Cost of Revenue | (1.74B) | (629.88M) | (1.14B) | (1.66B) | (1.82B) | 9.9% | |
Gross Profit | 6.10B | 2.56B | 1.97B | 4.91B | 5.36B | 9.2% | |
| Operating Expenses | |||||||
| Research & Development | (1.29B) | (2.33B) | (1.32B) | (1.47B) | (1.67B) | 13.8% | |
| Selling, General & Administrative | (1.10B) | (2.11B) | (691.77M) | (1.19B) | (1.88B) | 57.1% | |
| General & Administrative | (525.33M) | (1.60B) | (503.23M) | (691.47M) | (954.88M) | 38.1% | |
| Selling & Marketing | (577.13M) | (510.09M) | (188.55M) | (503.39M) | (922.35M) | 83.2% | |
| Depreciation & Amortization | (63.65M) | (154.07M) | (139.64M) | (127.52M) | (188.43M) | 47.8% | |
Operating Income (EBIT) | 3.08B | -2.71B | -161.66M | 2.31B | 1.44B | -37.8% | |
| Non-Operating Items | |||||||
| Interest Income | — | — | — | — | — | — | |
| Interest Expense | (29.16M) | (88.90M) | (82.77M) | (80.64M) | (85.41M) | 5.9% | |
| Other Income/Expenses (Net) | -49.62M | -354.37M | 84.82M | 635.48M | 86.62M | -86.4% | |
Income Before Tax | 3.03B | -3.06B | -76.84M | 2.94B | 1.52B | -48.3% | |
| Income Tax Expense | (597.17M) | (439.63M) | (171.72M) | (363.58M) | (261.74M) | -28.0% | |
Net Income | 3.62B | -2.62B | 94.87M | 2.58B | 1.26B | -51.1% | |
| Per Share Metrics | |||||||
| Earnings Per Share (Basic) | $17 | $-12 | $0 | $10 | $5 | -53.5% | |
| Weighted Avg Shares Outstanding | 177.32M | 222.31M | 235.80M | 247.37M | 260.09M | 5.1% | |
| Weighted Avg Shares Outstanding (Diluted) | 219.97M | 222.34M | 254.39M | 273.38M | 287.21M | 5.1% | |
EBITDA | 3.12B | -2.82B | 145.56M | 3.15B | 1.80B | -43.0% |
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