OpenNashEarnings

Financial Technology · Nasdaq: COIN

Coinbase earnings: results, call transcripts & KPI history

2 quarters · fiscal year ends December · next results expected around 11 Feb 2027

Investor relations ↗SEC filings ↗KPIs as CSV

Latest: Q3 2026

Coinbase reported Q3 2026 total revenue of $1.2B, net income of $719M and Adjusted EBITDA of $333M.

Coinbase's total revenue of $1.2B was flat from the prior quarter and down 35% from a year ago, as crypto trading volume and volatility stayed soft. Prediction markets passed $200M in annualized revenue and offset weaker spot trading. Subscription and services revenue reached $570M, 49% of net revenue. Net income was $719M, helped by crypto asset gains, and Adjusted EBITDA was $333M, up 60% from the prior quarter.

Read the Q3 2026 summary →Q3 2026 slides (PDF) ↗Official transcript (PDF) ↗

Quarters

KPI history

Revenue$1.2B−35.0% y/yQ3 2026
Q4 2024: $2.3B (worked out from the annual figure)Q4 ’24$2.3BQ1 2025: $2.0BQ1 ’25$2.0BQ2 2025: $1.5BQ2 ’25$1.5BQ3 2025: $1.9BQ3 ’25$1.9BQ4 2025: $1.8B (worked out from the annual figure)Q4 ’25$1.8BQ1 2026: $1.4BQ1 ’26$1.4BQ2 2026: $1.2BQ2 ’26$1.2BQ3 2026: $1.2BQ3 ’26$1.2B

Fourth quarter worked out from the annual figure.

Data
Q4 2024$2.3B *
Q1 2025$2.0B
Q2 2025$1.5B
Q3 2025$1.9B
Q4 2025$1.8B *
Q1 2026$1.4B
Q2 2026$1.2B
Q3 2026$1.2B
Diluted EPS (GAAP)$2.51+67.3% y/yQ3 2026
Q1 2025: $0.24Q1 ’25$0.24Q2 2025: $5.14Q2 ’25$5.14Q3 2025: $1.50Q3 ’25$1.50Q1 2026: -$1.49Q1 ’26-$1.49Q2 2026: -$1.36Q2 ’26-$1.36Q3 2026: $2.51Q3 ’26$2.51
Data
Q1 2025$0.24
Q2 2025$5.14
Q3 2025$1.50
Q1 2026-$1.49
Q2 2026-$1.36
Q3 2026$2.51

Fourth-quarter EPS appears once the press release is read; filings report it only for the full year.

Operating margin5.1%−20.6 pts y/yQ3 2026
Q4 2024: 45.5%Q4 ’2445.5%Q1 2025: 34.7%Q1 ’2534.7%Q2 2025: -1.6%Q2 ’25-1.6%Q3 2025: 25.7%Q3 ’2525.7%Q4 2025: 15.4%Q4 ’2515.4%Q1 2026: -1.5%Q1 ’26-1.5%Q2 2026: -9.3%Q2 ’26-9.3%Q3 2026: 5.1%Q3 ’265.1%
Data
Q4 202445.5%
Q1 202534.7%
Q2 2025-1.6%
Q3 202525.7%
Q4 202515.4%
Q1 2026-1.5%
Q2 2026-9.3%
Q3 20265.1%
Q4 2024Q1 2025Q2 2025Q3 2025Q4 2025Q1 2026Q2 2026Q3 2026
Revenue$2.3Bd$2.0B$1.5B$1.9B$1.8Bd$1.4B$1.2B$1.2B
Operating income$1.0Bd$705.8M-$24.6M$480.5M$273.8Md-$21.4M-$113.5M$61.7M
Operating margin45.5%34.7%-1.6%25.7%15.4%-1.5%-9.3%5.1%
Net income$1.3Bd$65.6M$1.4B$432.6M-$666.7Md-$394.1M-$359.5M$718.7M
Diluted EPS—$0.24$5.14$1.50—-$1.49-$1.36$2.51
Operating cash flow$1.5Bd$852.7M$240.1Md$709.9Md$623.7Md$182.7M$197.3Md$405.5Md
R&D expense$368.7Md$355.4M$387.3M$430.6M$497.3Md$525.6M$472.8M$447.4M

From XBRL data in 10-Q and 10-K filings. d derived: a fourth quarter is the full year minus the first nine months, and cash flows are year-to-date figures differenced.

10-Q and 10-K filings