Coinbase Global, Inc.

COIN 10-Q · Q3 2025

COIN Q3 2025 request

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Income Statement

Income Statement
Metric Q3 2025 Q3 2024 YoY
Revenue 1,868,693 1,205,193 +55.1%
Show Product Lines breakouts
Net revenue 1,792,984 1,128,597 +58.9%
Other revenue 75,709 76,596 -1.2%
Show Geography breakouts
Non Us 349,899 167,488 +108.9%
US 1,518,794 1,037,705 +46.4%
Show Related Party Transactions By Related Party breakouts
Related Party 3.1 5.1 -39.2%
Information Technology And Data Processing 253,318 171,781 +47.5%
Research & Development 430,585 377,440 +14.1%
Sales & Marketing 260,272 164,770 +58.0%
General & Administrative 418,446 330,387 +26.7%
Crypto Asset Realized And Unrealized Gain Loss Operating -35,740 -142 -25069.0%
Other Operating Income Expense Net 61,280 -8,556 +816.2%
Operating Expenses 1,388,161 1,035,680 +34.0%
Operating Income 480,532 169,513 +183.5%
Interest Expense 21,774 20,530 +6.1%
Crypto Asset Realized And Unrealized Gain Loss Nonoperating -423,903 120,507 -451.8%
Other Non-Operating Income (Expense) 380,518 -40,105 +1048.8%
Income Before Taxes 502,143 68,581 +632.2%
Income Tax Expense (Benefit) 69,591 -6,914 +1106.5%
Net Income 432,552 75,495 +473.0%
Show Equity Components breakouts
Retained Earnings 432,552 75,495 +473.0%
Net Income Loss Available To Common Stockholders Basic 432,552 75,455 +473.3%
Net Income Loss Available To Common Stockholders Diluted 437,095 75,459 +479.2%
EPS (Basic) 1.65 0.3 +450.0%
EPS (Diluted) 1.5 0.28 +435.7%
Wtd Avg Shares (Basic) 262,831 248,834 +5.6%
Wtd Avg Shares (Diluted) 291,958 267,440 +9.2%
Revenue (Q)
Show Product Lines breakouts
Bank Servicing 1,046,260 572,504 +82.8%
Blockchain rewards 184,647 154,815 +19.3%
Consumer, net 843,544 483,261 +74.6%
Institutional, net 135,009 55,293 +144.2%
Other subscription and services revenue 142,658 90,435 +57.7%
Other transaction revenue 67,707 33,950 +99.4%
Stablecoin revenue 354,661 246,856 +43.7%
Subscription And Circulation 746,724 556,093 +34.3%
Comprehensive Income 436,150 86,923 +401.8%
Other Comprehensive Income 3,598 11,428 -68.5%
Show Equity Components breakouts
Accumulated Other Comprehensive Income 3,598 11,428 -68.5%
Interest And Other Income (Q)
Show Product Lines breakouts
Corporate interest and other income 75,709 76,596 -1.2%
Interest Income Operating 64,758 63,987 +1.2%

Balance Sheet

Balance Sheet
Metric Q3 2025 Q3 2024 YoY
Current Assets
Cash & Cash Equivalents 8,676,275 7,723,806 +12.3%
Show Fair Value Hierarchy breakouts
Fair Value Inputs Level1 · Fair Value Measurements Recurring 7,041,586 6,087,747 +15.7%
Show Cash And Cash Equivalents breakouts
Cash Held at Venues 1.6 92 -98.3%
Deposits Held at Banks 1.6 1.5 +6.7%
Restricted Cash And Cash Equivalents At Carrying Value 78,867 31,881 +147.4%
Crypto Currency Current 3,696,441 871,425 +324.2%
Client Custodial Funds Current 5,672,037
Show Related Party Transactions By Related Party breakouts
Related Party 15.7
Crypto Asset Fair Value Operations 161,145
Show Crypto Asset breakouts
Bitcoin 55,252
Crypto Asset Other 46,954
Ethereum 36,169
Solana 22,770
Financing Receivable Excluding Accrued Interest Before Allowance For Credit Loss Current 859,056 398,239 +115.7%
Crypto Asset Fair Value Held As Collateral 1,017,382
Show Crypto Asset breakouts
Bitcoin · Crypto Assets 864,359
Ethereum · Crypto Assets 153,023
Crypto Asset Fair Value Borrowed 346,008
Show Fair Value Hierarchy breakouts
Fair Value Inputs Level1 · Fair Value Measurements Recurring 346,008
Show Crypto Asset breakouts
Bitcoin 125,966
Crypto Asset Other 27,849
Ethereum 192,193
Accounts Receivable 308,423 187,004 +64.9%
Marketable Securities (Current) 1,093,395
Other Assets Current 184,160 255,975 -28.1%
Total Current Assets 22,093,189 286,425,567 -92.3%
Non-Current Assets
Crypto Asset Fair Value Noncurrent 2,597,277 1,260,718 +106.0%
Deferred Tax Assets 324,096 1,032,959 -68.6%
Goodwill 4,004,112
Other Non-Current Assets 513,142 699,694 -26.7%
Total Assets 31,351,367 290,558,608 -89.2%
Show Crypto Asset breakouts
USDC · Asset Pledged As Collateral Without Right 423,036 241,145 +75.4%
Property, Plant & Equipment 262,591 193,000 +36.1%
Operating Lease Right-of-Use Assets 136,526
Intangible Assets 1,389,823
Show Finite Lived Intangible Assets By Major Class breakouts
Customer Relationships 1,055,284
Developed Technology Rights 292,241
Trade name and other 42,298
Other Assets
Equity Securities Fv Ni And Without Readily Determinable Fair Value 401,728
Intangible Assets Net Excluding Goodwill 1,417,823
Current Liabilities
Custodial Cash Liabilities Current 5,672,037
Show Related Party Transactions By Related Party breakouts
Related Party 15.7
Current Portion of Long-Term Debt 1,268,081
Crypto Asset Fair Value Borrowings 386,823 265,259 +45.8%
Show Crypto Asset breakouts
Bitcoin 152,737 173,703 -12.1%
Crypto Asset Other 35,340 24,434 +44.6%
Ethereum 198,746 62,154 +219.8%
Obligation To Return Collateral 1,026,945 118,224 +768.6%
Show Fair Value By Asset Class breakouts
Fiat 9,563 118,224 -91.9%
Accrued Liabilities 835,468 500,603 +66.9%
Total Current Liabilities 9,189,354 277,588,438 -96.7%
Accounts Payable 85,863 39,375 +118.1%
Non-Current Liabilities
Long-Term Debt 5,933,447 4,231,047 +40.2%
Other Non-Current Liabilities 205,342
Total Liabilities 15,328,143 281,830,486 -94.6%
Long-Term Debt 7,201,528 4,231,047 +70.2%
Show Debt Instrument breakouts
2029 Convertible Notes · Senior Notes 1,479,337
2030 Convertible Notes · Convertible Debt 1,248,404 1,244,771 +0.3%
2032 Convertible Notes · Senior Notes 1,479,014
Convertible Senior Notes due 2026 [Member] · Convertible Debt 1,268,081 1,262,114 +0.5%
Senior Notes Due 2028 [Member] · Senior Notes 994,720 993,019 +0.2%
Senior Notes Due 2031 [Member] · Senior Notes 731,972 731,143 +0.1%
Operating Lease Liabilities 170,108
Stockholders' Equity
Common Stock 3
Additional Paid In Capital Common Stock 9,131,722 5,087,238 +79.5%
Accumulated Other Comprehensive Income 3,538 -28,843 +112.3%
Retained Earnings 6,887,961 3,669,725 +87.7%
Total Stockholders' Equity 16,023,224 8,728,122 +83.6%
Show Equity Components breakouts
Accumulated Other Comprehensive Income 3,538 -28,843 +112.3%
Additional Paid In Capital 9,131,722 5,087,238 +79.5%
Common Stock 3 2 +50.0%
Retained Earnings 6,887,961 3,669,725 +87.7%
Total Liabilities & Equity 31,351,367 290,558,608 -89.2%

Cash Flow Statement

Cash Flow Statement
Metric YTD Q3 2025 YTD Q3 2024 YoY
Operating Activities
Depreciation & Amortization 117,312 94,523 +24.1%
Stock-Based Compensation 608,958 690,854 -11.9%
Deferred Income Taxes And Tax Credits 486,498 61,075 +696.6%
Equity Securities Fv Ni Gain Loss -1,075,198 15,141 -7201.2%
Other Operating Activities Cash Flow Statement 6,830 31,745 -78.5%
Increase Decrease In Operating Capital -2,510,846 -322,616 -678.3%
Net Cash from Operations -638,768 1,592,226 -140.1%
Investing Activities
Payments To Issue Loans -1,246,352 -1,270,063 +1.9%
Proceeds From Collection Of Loans 819,455 1,075,000 -23.8%
Payments To Acquire Businesses Net Of Cash Acquired -687,634
Payments To Acquire Indefinite Lived Intangible Crypto Assets -679,931 -18,486 -3578.1%
Proceeds From Disposal Of Indefinite Lived Crypto Assets 226,371 52,586 +330.5%
Other Investing Activities -84,292 -72,006 -17.1%
Net Cash from Investing -1,652,383 -232,969 -609.3%
Financing Activities
Proceeds From Convertible Debt 2,957,135 1,246,025 +137.3%
Payments For Capped Calls Purchase Financing Activities -224,250 -104,110 -115.4%
Increase Decrease In Deposits -600,398 -550,776 -9.0%
Proceeds From Assets Received As Collateral 499,417 525,699 -5.0%
Payments For Collateral Assets Returned -514,494 -410,438 -25.4%
Tax Withholding for Share Compensation -308,803 -117,225 -163.4%
Proceeds From Payments For Other Financing Activities 87,489 93,488 -6.4%
Net Cash from Financing 1,896,096 682,663 +177.7%
Supplemental
Income Taxes Paid 147,999 113,107 +30.8%
Other Cash Flow
Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Excluding Exchange Rate Effect -395,055 2,041,920 -119.3%
Effect Of Exchange Rate On Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents 89,868 19,664 +357.0%
Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents 14,305,255 11,617,013 +23.1%

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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