Coinbase Global, Inc.

COIN 10-Q · Q2 2025

COIN Q2 2025 request

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Income Statement

Income Statement
Metric Q2 2025 Q2 2024 YoY
Revenue 1,497,208 1,449,628 +3.3%
Show Product Lines breakouts
Net revenue 1,420,096 1,379,942 +2.9%
Other revenue 77,112 69,686 +10.7%
Show Geography breakouts
Non Us 205,592 217,012 -5.3%
US 1,291,616 1,232,616 +4.8%
Show Related Party Transactions By Related Party breakouts
Related Party 1.6 6.7 -76.1%
Information Technology And Data Processing 245,261 191,477 +28.1%
Research & Development 387,322 364,258 +6.3%
Sales & Marketing 236,245 165,262 +43.0%
General & Administrative 353,707 320,115 +10.5%
Crypto Asset Realized And Unrealized Gain Loss Operating -8,702 31,016 -128.1%
Other Operating Income Expense Net 308,025 34,383 +795.9%
Operating Expenses 1,521,858 1,106,511 +37.5%
Operating Income -24,650 343,117 -107.2%
Interest Expense 20,535 20,507 +0.1%
Crypto Asset Realized And Unrealized Gain Loss Nonoperating -362,053 319,020 -213.5%
Other Non-Operating Income (Expense) -1,506,905 63,827 -2460.9%
Income Before Taxes 1,823,773 -60,237 +3127.7%
Income Tax Expense (Benefit) 394,873 -96,387 +509.7%
Net Income 1,428,900 36,150 +3852.7%
Show Equity Components breakouts
Retained Earnings 1,428,900 36,150 +3852.7%
Net Income Loss Available To Common Stockholders Basic 1,428,900 36,127 +3855.2%
Net Income Loss Available To Common Stockholders Diluted 1,432,511 36,128 +3865.1%
EPS (Basic) 5.6 0.15 +3633.3%
EPS (Diluted) 5.14 0.14 +3571.4%
Wtd Avg Shares (Basic) 255,188 246,298 +3.6%
Wtd Avg Shares (Diluted) 278,913 266,831 +4.5%
Revenue (Q) — — —
Show Product Lines breakouts
Bank Servicing 764,270 780,902 -2.1%
Blockchain rewards 144,535 185,139 -21.9%
Consumer, net 649,908 664,772 -2.2%
Institutional, net 60,819 63,624 -4.4%
Other subscription and services revenue 119,478 104,065 +14.8%
Other transaction revenue 53,543 52,506 +2.0%
Stablecoin revenue 332,497 240,436 +38.3%
Subscription And Circulation 655,826 599,040 +9.5%
Comprehensive Income 1,470,932 33,375 +4307.3%
Other Comprehensive Income 42,032 -2,775 +1614.7%
Show Equity Components breakouts
Accumulated Other Comprehensive Income 42,032 -2,775 +1614.7%
Interest And Other Income (Q) — — —
Show Product Lines breakouts
Corporate interest and other income 77,112 69,686 +10.7%
Interest Income Operating 59,316 69,400 -14.5%

Balance Sheet

Balance Sheet
Metric Q2 2025 Q2 2024 YoY
Current Assets
Cash & Cash Equivalents 7,539,388 7,225,535 +4.3%
Show Fair Value Hierarchy breakouts
Fair Value Inputs Level1 · Fair Value Measurements Recurring 5,980,319 — —
Show Cash And Cash Equivalents breakouts
Cash Held at Venues 1.6 — —
Deposits Held at Banks 1.6 — —
Restricted Cash And Cash Equivalents At Carrying Value 69,190 34,282 +101.8%
Crypto Currency Current 2,153,824 1,056,648 +103.8%
Client Custodial Funds Current 5,121,640 — —
Show Related Party Transactions By Related Party breakouts
Related Party 5.1 — —
Crypto Asset Fair Value Operations 125,974 — —
Show Crypto Asset breakouts
Bitcoin 55,136 — —
Crypto Asset Other 33,369 — —
Ethereum 27,813 — —
Solana 9,656 — —
Financing Receivable Excluding Accrued Interest Before Allowance For Credit Loss Current 803,366 440,351 +82.4%
Crypto Asset Fair Value Held As Collateral 951,272 — —
Show Crypto Asset breakouts
Bitcoin · Crypto Assets 859,940 — —
Ethereum · Crypto Assets 91,332 — —
Crypto Asset Fair Value Borrowed 223,620 — —
Show Fair Value Hierarchy breakouts
Fair Value Inputs Level1 · Fair Value Measurements Recurring 223,620 — —
Show Crypto Asset breakouts
Bitcoin 117,906 — —
Crypto Asset Other 25,275 — —
Ethereum 80,439 — —
Accounts Receivable 222,996 236,444 -5.7%
Other Assets Current 279,230 — —
Total Current Assets 17,490,500 282,886,632 -93.8%
Non-Current Assets
Crypto Asset Fair Value Noncurrent 1,838,887 1,234,158 +49.0%
Deferred Tax Assets 541,354 1,010,154 -46.4%
Goodwill 1,153,621 — —
Other Non-Current Assets 517,833 — —
Total Assets 23,476,038 286,959,173 -91.8%
Show Crypto Asset breakouts
USDC · Asset Pledged As Collateral Without Right 294,761 — —
Property, Plant & Equipment 241,776 — —
Operating Lease Right-of-Use Assets 135,969 — —
Other Assets
Equity Securities Fv Ni And Without Readily Determinable Fair Value 1,933,843 — —
Current Liabilities
Custodial Cash Liabilities Current 5,121,640 — —
Show Related Party Transactions By Related Party breakouts
Related Party 5.1 — —
Current Portion of Long-Term Debt 1,266,577 — —
Crypto Asset Fair Value Borrowings 268,550 237,474 +13.1%
Show Crypto Asset breakouts
Bitcoin 143,790 187,452 -23.3%
Crypto Asset Other 37,317 18,140 +105.7%
Ethereum 87,443 24,801 +252.6%
Obligation To Return Collateral 972,661 272,171 +257.4%
Show Fair Value By Asset Class breakouts
Fiat 21,389 251,052 -91.5%
Accrued Liabilities 601,354 — —
Total Current Liabilities 8,230,782 274,353,719 -97.0%
Accounts Payable 68,518 — —
Non-Current Liabilities
Long-Term Debt 2,973,545 4,228,019 -29.7%
Other Non-Current Liabilities 176,822 — —
Total Liabilities 11,381,149 278,588,404 -95.9%
Long-Term Debt 4,240,122 4,228,019 +0.3%
Show Debt Instrument breakouts
2030 Convertible Notes · Convertible Debt 1,247,494 1,243,866 +0.3%
Convertible Senior Notes due 2026 [Member] · Convertible Debt 1,266,577 1,260,610 +0.5%
Senior Notes Due 2028 [Member] · Senior Notes 994,289 992,603 +0.2%
Senior Notes Due 2031 [Member] · Senior Notes 731,762 730,940 +0.1%
Operating Lease Liabilities 169,393 — —
Stockholders' Equity
Common Stock (INSTANT) — — —
Show Statement Class Of Stock breakouts
Common Class A 2 2 0.0%
Additional Paid In Capital Common Stock 5,639,538 4,816,808 +17.1%
Accumulated Other Comprehensive Income -60 -40,271 +99.9%
Retained Earnings 6,455,409 3,594,230 +79.6%
Total Stockholders' Equity 12,094,889 8,370,769 +44.5%
Show Equity Components breakouts
Accumulated Other Comprehensive Income -60 -40,271 +99.9%
Additional Paid In Capital 5,639,538 4,816,808 +17.1%
Common Stock 2 2 0.0%
Retained Earnings 6,455,409 3,594,230 +79.6%
Total Liabilities & Equity 23,476,038 286,959,173 -91.8%

Cash Flow Statement

Cash Flow Statement
Metric YTD Q2 2025 YTD Q2 2024 YoY
Operating Activities
Depreciation & Amortization 67,234 63,828 +5.3%
Stock-Based Compensation 386,889 442,438 -12.6%
Deferred Income Taxes And Tax Credits 399,971 83,961 +376.4%
Equity Securities Fv Ni Gain Loss -1,475,448 14,663 -10162.4%
Other Operating Activities Cash Flow Statement 48,582 32,782 +48.2%
Increase Decrease In Operating Capital -1,036,250 -567,634 -82.6%
Net Cash from Operations 145,747 895,682 -83.7%
Investing Activities
Payments To Issue Loans -955,488 -808,334 -18.2%
Proceeds From Collection Of Loans 588,004 646,700 -9.1%
Payments To Acquire Indefinite Lived Intangible Crypto Assets -458,728 — —
Proceeds From Disposal Of Indefinite Lived Crypto Assets 62,443 52,425 +19.1%
Other Investing Activities -153,040 -35,083 -336.2%
Net Cash from Investing -916,809 -144,292 -535.4%
Financing Activities
Increase Decrease In Deposits -1,140,867 -357,657 -219.0%
Proceeds From Assets Received As Collateral 370,553 493,499 -24.9%
Payments For Collateral Assets Returned -373,804 -243,510 -53.5%
Tax Withholding for Share Compensation -201,381 -117,225 -71.8%
Proceeds From Payments For Other Financing Activities 60,560 76,966 -21.3%
Net Cash from Financing -1,284,939 993,988 -229.3%
Supplemental
Income Taxes Paid 131,310 81,552 +61.0%
Interest Paid 35,005 33,424 +4.7%
Other Cash Flow
Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Excluding Exchange Rate Effect -2,056,001 1,745,378 -217.8%
Effect Of Exchange Rate On Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents 79,845 -25,923 +408.0%
Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents 12,634,286 11,274,884 +12.1%

Values in thousands USD. Source: SEC EDGAR 10-Q filing.

This table is rendered from the same JSON returned by /api/financials.

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