Skip to content
AnalystLens

Coinbase Global, Inc.COIN

Sector
Other
Industry
Finance Services
Exchange
Nasdaq

Stock Price $COIN

Latest filings

You are here#39 of 58 in Financials by market cap

Filing record · 2021–202610-K510-Q178-K70

COIN filed 5 annual reports (10-K), 17 quarterly reports (10-Q) and 70 current reports (8-K) between 2021 and 2026.

  1. Material agreement8-K · Sep ’21Sep ’21
  2. Restructuring8-K · Jan ’23Jan ’23
  3. Material agreement8-K · Mar ’24Mar ’24
  4. Leadership change8-K · Apr ’26Apr ’26

01—Key figures

Source: 10-KFY2025
Source: 10-KFY2025
Source: 10-KFY2025
Source: 10-KFY2025

Revenue Trend

Year-over-year comparison from 10-K annual reports

  7. $7.18B
YoY changeLargest recent move+513.7%in FY21Latest +9.4%

1 older move runs past ±150% (largest +513.7%); point at, tap or drag across the bars to read one.

Latest bar from 10-KFY2025Click a bar to open its SEC filing

View full history →
All COIN Financial Metrics54 metrics

Income Statement14

Balance Sheet24

Cash Flow12

Per Share4

02—Overview

Coinbase Global, Inc. Financial Overview 2021–2025

Updated Jul 10, 2026

Coinbase's financial engine is uniquely volatile, perfectly illustrated by its whiplash from a $1.3 billiona net income in FY2025 to a $394.1 million net loss in Q1 2026. While management is aggressively diversifying beyond pure trading, the company's bottom line remains firmly chained to the wild swings of the broader digital asset market.

Total net revenue actually shrank over the full five-year cycle, slipping from $7.4 billion in FY2021 to $6.9 billionb in FY2025. However, the underlying revenue mix fundamentally shifted to insulate against trading crashes. The company expanded its non-transaction offerings, driving subscription and services revenue up 23% to $2.8 billion in FY2025. Yet, transaction volume still dictates quarterly survival. When consumer trading volume plummeted 54% in Q1 2026, transaction revenue fell 40%, instantly erasing recent profitability. The company leaned on its cash-rich balance sheet to counter this slowdown, utilizing $1.9 billion of a $4.0 billion share repurchase program by the end of Q1 2026.

Despite the inherent unpredictability of its revenue, the market has assigned a premium multiple to this infrastructure play. At the close of FY2025, the stock traded at $226.14c with a $60.6 billion market cap. This equated to a rich 50.8x price-to-earnings ratio, highlighting high investor expectations right before the sharp earnings contraction materialized in Q1 2026.

Recent Developments (Q4 2025 and Q1 2026)

Coinbase fundamentally altered its cost structure and product suite in early 2026. Facing top-line pressure, the company announced a restructuring plan in May 2026, cutting 700 employees—or 14% of its workforce—with $50 million to $60 milliond in expected expenses. Total revenue fell 30.6% year-over-year to $1.41 billion in Q1 2026, down from $2.03 billion. The non-trading segment also struggled, as subscription and services revenue retreated 14% to $583.5 million due to lower interest rates and blockchain rewards. This broad decline fueled the quarter's steep loss compared to a $65.6 million profit in Q1 2025.

Bulls argue the $4.3 billione acquisition of Deribit and $176 million purchase of Echo will successfully pivot the platform into lucrative derivatives markets. Bears contend the equity remains vulnerable amid deteriorating fundamentals, trading at 43.4x earnings as of the May 7, 2026 reporting date.

What to watch: realization of projected restructuring expenses in Q2 2026; integration of Deribit into the broader 'Everything Exchange' platform.

03—Filings

Recent SEC Filings

  1. 8-KCoinbase Global, Inc. 8-K Report, Executive Changes (Oct 2, 2026)Coinbase Global, Inc. (COIN) has announced the retirement of its Chief Accounting Officer and principal accounting officer, Jennifer Jones. Ms. Jones will continue in her role until a successor is appointed, ensuring a smooth transition of responsibilities. The company has commenced a search for qualified candidates. Notably, Ms. Jones' retirement is not attributed to any disagreements with the company regarding its operations, policies, or practices, which is a positive signal for ongoing stability. While the departure of a key financial executive can sometimes raise concerns, Coinbase's proactive approach in initiating a search and emphasizing a seamless transition should mitigate potential investor unease. The company expressed gratitude for Ms. Jones' contributions, underscoring a professional and amicable separation. Investors will want to monitor the appointment of her successor and the transition process to ensure continued financial reporting integrity and operational continuity.
  2. 8-KCoinbase Global, Inc. 8-K Report, Executive Changes (Sep 2, 2026)Coinbase Global, Inc. (COIN) announced a strategic expansion of its Board of Directors with the appointment of Anthony Armstrong, effective immediately. This move increases the Board's size from nine to ten directors, indicating a potential focus on strengthening governance and oversight. Mr. Armstrong's appointment to the Audit and Compliance Committee is particularly noteworthy, suggesting a commitment to robust financial reporting and risk management, a critical area for any publicly traded company, especially within the dynamic cryptocurrency sector. Mr. Armstrong's compensation will align with the company's established non-employee director compensation program, and he will be covered by the standard indemnification agreement. The filing also clarifies that Mr. Armstrong, like other insiders and significant shareholders, has personal accounts on the Coinbase platform and uses its services, paying standard fees. This disclosure reinforces transparency regarding potential related-party transactions and aligns with the company's ongoing commitment to openness.
  3. 8-KCoinbase Global, Inc. 8-K Report, Financial Results (Jul 30, 2026)Coinbase Global, Inc. has filed an 8-K on July 30, 2026, to report its financial results for the quarter ended June 30, 2026. The core of this filing is the "Earnings Presentation" furnished as Exhibit 99.1, which contains the detailed financial performance and operational metrics for the period. Investors should refer to this presentation for a comprehensive understanding of Coinbase's recent results. The company has also announced a Q&A session to discuss these financial results, providing an avenue for direct engagement and clarification of key performance indicators, strategic initiatives, and future outlook. It's important to note that the information furnished under Item 2.02, including the earnings presentation, is not considered "filed" for certain regulatory purposes, meaning it doesn't automatically trigger liability under Section 18 of the Exchange Act unless specifically incorporated by reference into other filings.
  4. 8-KCoinbase Global, Inc. 8-K Report, Executive Changes (Jul 23, 2026)Coinbase Global, Inc. (COIN) has filed an 8-K report announcing significant changes in its executive leadership. Lawrence Brock, the Chief People Officer, will be stepping down from his role effective August 17, 2026. Mr. Brock will remain with the company in an advisory capacity until November 30, 2026, to ensure a smooth transition of his responsibilities. This move is accompanied by the expected appointment of Dominique Baillet as the new Chief People Officer, signaling a leadership transition in a critical human resources function. In connection with his departure, Mr. Brock has entered into an advisor agreement entitling him to compensation and continued vesting of certain equity awards, contingent upon his continued advisory services. Investors should note this leadership change and the terms of Mr. Brock's transition, as the Chief People Officer role is integral to talent management, employee relations, and organizational development, all of which are crucial for Coinbase's operational stability and future growth.
  5. 8-KCoinbase Global, Inc. 8-K Report, Executive Changes (Jul 9, 2026)Coinbase Global, Inc. (COIN) announced a significant leadership change in its legal department. Paul Grewal, the Chief Legal Officer and Secretary, has notified the company of his intention to step down from his roles, effective July 31, 2026. This transition is a key event for investors to monitor, as the CLO role is critical for navigating the complex regulatory landscape of the cryptocurrency industry. In conjunction with Mr. Grewal's departure, Coinbase expects to appoint Molly Abraham, currently Vice President of Legal, as the new General Counsel and Secretary. Furthermore, Mr. Grewal will remain engaged with the company in an advisory capacity through an Advisor Agreement from August 1, 2026, to October 31, 2026, to facilitate a smooth transition and provide ongoing support. This arrangement includes a payment equal to three months of his base salary and continued vesting of certain restricted stock units.
View all 8-K filings →
View all filings (10-K, 10-Q, 8-K, proxy & more) →

04—See also

Related Companies

Annual revenue over each company’s last eight fiscal years, each strip on its own scale from zero.