Coinbase Global, Inc.
COINNasdaqFinancial Services · CIK 0001679788
Price
$164.61
Market cap
$42.0B
Last synced Jul 2, 2026, 5:30 PM
Analyst report
Numbers from SEC XBRL filings; narrative bound to those numbers only.
Generated · Jul 2, 2026, 5:30 PM
Overview
Coinbase Global, Inc. is currently facing significant financial challenges, with revenue of $1.41B in Q1 and a net income of -$394.1M, indicating a substantial decline in profitability. The company's cash and equivalents stand at $10.21B, providing a cushion for its operations. Overall, Coinbase's financial posture is marked by declining revenue and profitability, alongside a decrease in cash reserves.
Key metrics — latest reported
Revenue
Q1 · 2026-03-31$1.41B
The $1.41B revenue in Q1, with a year-over-year decline of -30.5%, is significant because it indicates a substantial decrease in the company's ability to generate sales, which could impact its growth trajectory and profitability.
SEC filing ↗Net income
Q1 · 2026-03-31-$394.1M
The net income of -$394.1M in Q1, with a year-over-year decline of -700.7%, is significant because it highlights the company's struggle with profitability, which could affect its ability to invest in growth initiatives and return value to shareholders.
SEC filing ↗Diluted EPS
Q1 · 2026-03-31$-1.49
Diluted EPS of $-1.49 for Q1 2026 is down 720.8% year-over-year, per the company's SEC filing.
SEC filing ↗Operating income
Q1 · 2026-03-31-$21.4M
Operating income of -$21.4M for Q1 2026 is down 103% year-over-year, per the company's SEC filing.
SEC filing ↗Operating cash flow
Q1 · 2026-03-31$182.7M
The operating cash flow of $182.7M in Q1, with a year-over-year decline of -78.6%, is significant because it indicates a decrease in the company's ability to generate cash from its core operations, which could impact its liquidity and financial flexibility.
SEC filing ↗R&D expense
Q1 · 2026-03-31$525.6M
R&D expense of $525.6M for Q1 2026 is up 47.9% year-over-year, per the company's SEC filing.
SEC filing ↗Cash & equivalents
Q1 · 2026-03-31$10.21B
Cash & equivalents of $10.21B for Q1 2026 is down 9.6% year-over-year, per the company's SEC filing.
SEC filing ↗Total assets
Q1 · 2026-03-31$28.85B
Total assets of $28.85B for Q1 2026 is down 2.8% year-over-year, per the company's SEC filing.
SEC filing ↗Stockholders' equity
Q1 · 2026-03-31$13.48B
Stockholders' equity of $13.48B for Q1 2026 is down 8.9% year-over-year, per the company's SEC filing.
SEC filing ↗Earnings take
The latest reported period, Q1, shows a significant decline in revenue and net income, with year-over-year changes of -30.5% and -700.7%, respectively. This downturn is also reflected in the diluted EPS, which stands at $-1.49, a year-over-year change of -720.8%. These metrics suggest a challenging quarter for Coinbase, with both top-line and bottom-line performance deteriorating.
Risks
- !Margin compression is a significant risk, as evident from the decline in net income and operating income, which could further deteriorate if the company fails to adapt to changing market conditions.
- !The substantial decline in revenue and profitability poses a risk to the company's growth durability, as it may struggle to maintain its market position and invest in future growth initiatives.
- !The decrease in cash and equivalents, alongside the decline in operating cash flow, poses a risk to the company's cash generation capabilities, which could impact its ability to meet financial obligations and invest in strategic initiatives.
Watch next quarter
- →The company's ability to reverse the decline in revenue and profitability will be a key area to watch in the next quarter, as it will indicate whether Coinbase can adapt to changing market conditions and regain its growth trajectory.
- →The evolution of the company's operating cash flow will be crucial, as it will determine the company's ability to generate cash from its core operations and maintain its financial flexibility.
- →The impact of the decline in net income on the company's ability to invest in research and development, as reflected in the R&D expense of $525.6M, will be important to monitor, as it could affect the company's long-term growth prospects and competitiveness.
Quarterly trend — SEC XBRL
As reported in 10-Q/10-K filings; newest quarter first.
| Metric | Q1 '26 | Q3 '25 | Q2 '25 | Q1 '25 | Q3 '24 | Q2 '24 | Q1 '24 | Q3 '23 |
|---|---|---|---|---|---|---|---|---|
| Revenue | $1.41B | $1.87B | $1.50B | $2.03B | $1.21B | $1.45B | $1.64B | $674.1M |
| Net income | -$394.1M | $432.6M | $1.43B | $65.6M | $75.5M | $36.1M | $1.18B | -$2.3M |
| Diluted EPS | $-1.49 | $1.50 | $5.14 | $0.24 | $0.28 | $0.14 | $4.40 | $-0.01 |
| Operating income | -$21.4M | $480.5M | -$24.6M | $705.8M | $169.5M | $343.1M | $760.5M | -$79.8M |
| Operating cash flow | $182.7M | — | — | $852.7M | — | — | $411.5M | — |
SEC filings
10-K annual, 10-Q quarterly, 8-K current events — earnings-related filings are flagged.
News
Third-party headlines, each linked to its original source.
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