Jun 2026 (Q2 FY26) — Jul 30, 2026
Coinbase Q2 FY26 — Strategic Diversification and AI Agent Focus
Read the full callCoinbase (COIN) earnings
- Jun 2026
- Jun 2026 (Q2 FY26)
- Dec 2025
Coinbase earnings: last reported Thu, 30 Jul 2026, for the quarter ended Jun 2026.
Reported
The figures, each with its period
Each figure keeps its basis and period; nothing is filled in.
| Metric | Value | Change | Basis | Period | Note |
|---|---|---|---|---|---|
| Revenue | 1,220 | −18.5% YoY | Quarterly, as filed | Quarter to Jun 2026 | Revenue from operations as filed. |
| Operating margin | -9.3 | −7.7 pts YoY | Operating profit / revenue | Quarter to Jun 2026 | For the quarter; a change is in percentage points. |
| Net profit | -359 | −125.2% YoY | Quarterly, as filed | Quarter to Jun 2026 | Profit after tax as filed. |
Guidance
What management said, and what became of it
25 of 25 judged targets kept · 11 open · verdicts reflect calls analysed to Jun 2026.
| Target | Original wording | Said | Latest call | Verdict |
|---|---|---|---|---|
| USDC becoming the number one dollar stablecoin | #1 dollar stablecoin (stretch goal, over the next few years) | Dec 2024 | it's already #1 if you look at stablecoin transaction volume... The only 1 that it hasn't achieved the #1 on is... market cap or the assets under management that then you could say it's #2 compared to Tether. | On Track |
| Sales and marketing expense | $215 million to $315 million | Dec 2025 | we delivered within or better than every range we set | Achieved |
11 of Coinbase Global, Inc.'s 36 targets are still open. See which are on track and which have gone quiet. The 2 above are the free sample; 34 more targets are in the full ledger.
Claimed
- Bitcoin-related transactions now comprise 12% of revenue, down from over 50%, indicating successful revenue diversification.
- Coinbase One subscribers reached an all-time high of over 1 million, demonstrating strong engagement and subscription product value.
- New products like prediction markets and derivatives are driving incremental spot trading volume, with no cannibalization.
- Base, the company's L2, is the largest on Ethereum, with $32 trillion in stablecoin transfer volume over the last 12 months and an early lead in Agentic finance.
Qualified
- The CLARITY Act, a key piece of crypto regulation, has only a 30% chance of passing a Senate floor vote before August recess, creating continued regulatory uncertainty.
Price
$168.45 −2.72% · −$4.71
Performance −49.9% 1Y
1Y: $336.02 on 17 Oct 2025 → $168.45. High $361.43 (27 Oct 2025), low $141.09 (12 Feb 2026).
- Previous close
- $173.16
- 52-week range
- $141.09 – $361.43
- One year
- −51.00%
Overview
- Symbol
- COIN
- Sector
- Financials
- Exchange
- US
- Currency
- USD
Guidance
What management said, and what became of it
25 of 25 judged targets kept · 11 open · verdicts reflect calls analysed to Jun 2026.
| Target | Original wording | Said | Latest call | Verdict |
|---|---|---|---|---|
| USDC becoming the number one dollar stablecoin | #1 dollar stablecoin (stretch goal, over the next few years) | Dec 2024 | it's already #1 if you look at stablecoin transaction volume... The only 1 that it hasn't achieved the #1 on is... market cap or the assets under management that then you could say it's #2 compared to Tether. | On Track |
| Sales and marketing expense | $215 million to $315 million | Dec 2025 | we delivered within or better than every range we set | Achieved |
Claimed
- Bitcoin-related transactions now comprise 12% of revenue, down from over 50%, indicating successful revenue diversification.
- Coinbase One subscribers reached an all-time high of over 1 million, demonstrating strong engagement and subscription product value.
- New products like prediction markets and derivatives are driving incremental spot trading volume, with no cannibalization.
- Base, the company's L2, is the largest on Ethereum, with $32 trillion in stablecoin transfer volume over the last 12 months and an early lead in Agentic finance.
Qualified
- The CLARITY Act, a key piece of crypto regulation, has only a 30% chance of passing a Senate floor vote before August recess, creating continued regulatory uncertainty.
The full ledger
Open Coinbase Global, Inc.’s full ledger
A free account opens 5 company ledgers a month. All 36 tracked commitments, with each call’s wording and source.
Call summaries
Mar 2026 (Q1 FY26) — May 7, 2026
Coinbase Q1 FY26 — Revenue falls 21% on soft crypto market while Everything Exchange and stablecoins scale
Read the full callDec 2025 (Q4 FY25) — Feb 12, 2026
Coinbase Q4 FY25 — Strong Performance and Diversified Revenue Growth
Read the full callEvery analysed call
Coinbase earnings calls (COIN)
Financials
What the filings say
Net profit, year on year: −125% (quarter to jun 2026 against jun 2025).
| Line item | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 |
|---|---|---|---|---|---|---|---|---|
| Sales | 1,205 | 2,272 | 2,034 | 1,497 | 1,869 | 1,781 | 1,413 | 1,220 |
| Operating profit | 170 | 1,034 | 706 | -25 | 481 | 274 | -21 | -113 |
| Operating margin | 14.1% | 45.5% | 34.7% | −1.6% | 25.7% | 15.4% | −1.5% | −9.3% |
| Interest | 21 | 21 | 21 | 21 | 22 | 23 | 23 | 23 |
| Profit before tax | 69 | 1,497 | 82 | 1,824 | 502 | -886 | -465 | -395 |
| Tax rate | −10.1% | 13.7% | 20.4% | 21.6% | 13.9% | 24.8% | 15.2% | 9.1% |
| Net profit | 75 | 1,291 | 66 | 1,429 | 433 | -667 | -394 | -359 |
| EPS ($ per share) | 0.30 | — | 0.26 | 5.60 | 1.65 | — | -1.49 | -1.36 |
| Line item | Dec 2019 | Dec 2020 | Dec 2021 | Dec 2022 | Dec 2023 | Dec 2024 | Dec 2025 |
|---|---|---|---|---|---|---|---|
| Equity capital | — | — | — | — | — | 0 | 0 |
| Reserves | — | 726 | 4,350 | 1,725 | 1,820 | 4,961 | 6,221 |
| Total liabilities | — | 4,329 | 14,893 | 84,270 | 8,472 | 12,265 | 14,879 |
| Fixed assets | — | 49 | 59 | 172 | 193 | 200 | 265 |
| Investments | — | — | — | — | — | 0 | 310 |
| Total assets | — | 5,855 | 21,274 | 89,725 | 14,754 | 22,542 | 29,672 |
| Line item | Dec 2019 | Dec 2020 | Dec 2021 | Dec 2022 | Dec 2023 | Dec 2024 | Dec 2025 |
|---|---|---|---|---|---|---|---|
| Cash from operations | -81 | 294 | 4,038 | -1,585 | 673 | 3,104 | 2,426 |
| Cash from investing | -105 | 51 | -1,125 | -664 | -206 | -201 | -2,050 |
| Cash from financing | -17 | 2,729 | 9,976 | -5,839 | -838 | 2,903 | 740 |
| Capital expenditure | -34 | -10 | -3 | -3 | — | — | — |
| Free cash flow | -114 | 284 | 4,035 | -1,588 | — | — | — |
COIN revenue by segment
| Segment | Q3 FY2024 | Q4 FY2024 | Q1 FY2025 | Q2 FY2025 | Q3 FY2025 | Q4 FY2025 | Q1 FY2026 | Q2 FY2026 | YoY growth latest quarter |
|---|---|---|---|---|---|---|---|---|---|
| Bank Servicing and Subscription and Circulation | 94% | 97% | 96% | 95% | 96% | 96% | 95% | 95% | -18.7% |
| Other Revenue | 6% | 3% | 4% | 5% | 4% | 4% | 5% | 5% | -14.7% |
Share of consolidated revenue by quarter. Q4 is the fiscal year less its first three quarters.
See how segments are shifting across companies → Segment Shift
COIN operating KPIs by quarter
| KPI | Jun 2025 Q2 FY25 | Sep 2025 Q3 FY25 | Dec 2025 Q4 FY25 | Change vs prior quarter |
|---|---|---|---|---|
| Employees | <4,300We ended the quarter with just under 4,300 full-time employees, which was up 8%.Source: earnings call transcript | 4,795We ended the third quarter with 4,795 full-time employees, up 12%.Source: earnings call transcript | 4,951We ended the year with 4,951 full-time employees, up 3% quarter-over-quarter as we continue to invest in product team development, customer support and compliance infrastructure.Source: earnings call transcript | +3.3% |
Operating figures the company stated on at least two of the calls shown, checked against each call's transcript. Click a figure to read the sentence. A dash means it was not stated that quarter.
Revenue by region
Q2 FY2026 · share of revenue
- US 85% ↓ 1 pt
- Non Us 15% ↑ 1 pt
As COIN cuts its regions in its filings; they can nest, so they need not add to 100%.
Insider filings
368 filings between Nov 3, 2025 and Oct 2, 2026.
Open market
decisions to buy or sellPurchases
None
No insider bought shares.
Sales
$327.19M
256 sales by 9 insiders
89% filed under a 10b5-1 plan — scheduled in advance, not decided on the day
Compensation
not trading decisions- 2
- Award — granted as compensation
- 74
- Option exercise — converted options into shares
- 21
- Tax withheld — shares kept back by the company to cover tax
Also filed: 15 conversions.
Who traded
open market only| Insider | Bought | Sold | Last filing |
|---|---|---|---|
| Ehrsam Frederick Ernest III | — | $114.29M | Jan 15, 2026 |
| HAAS ALESIA J | — | $78.49M | Sep 21, 2026 |
| Armstrong Brian | — | $68.54M | Jan 5, 2026 |
| Choi Emilie | — | $31.09M | Nov 11, 2025 |
| WILSON FREDERICK R | — | $18.21M | Sep 1, 2026 |
| Andreessen Marc L | — | $7.78M | Oct 2, 2026 |
| Grewal Paul | — | $3.77M | May 27, 2026 |
| Brock Lawrence J | — | $3.47M | May 22, 2026 |
Latest filings (50)
| Date | Insider | What | Shares | Value |
|---|---|---|---|---|
| Oct 2, 2026 | Andreessen Marc L Director | Sale 10b5-1 plan | 6,838 | $1.35M |
| Oct 1, 2026 | Andreessen Marc L Director | Sale 10b5-1 plan | 13,676 | $2.55M |
| Sep 21, 2026 | Andreessen Marc L Director | Sale 10b5-1 plan | 6,838 | $1.40M |
| Sep 21, 2026 | HAAS ALESIA J Chief Financial Officer | Sale 10b5-1 plan | 1,409 | $290.8K |
| Sep 21, 2026 | HAAS ALESIA J Chief Financial Officer | Sale 10b5-1 plan | 1,371 | $283.9K |
| Sep 21, 2026 | HAAS ALESIA J Chief Financial Officer | Sale 10b5-1 plan | 35,840 | $7.35M |
| Sep 21, 2026 | HAAS ALESIA J Chief Financial Officer | Sale 10b5-1 plan | 410 | $83.5K |
| Sep 8, 2026 | Andreessen Marc L Director | Sale 10b5-1 plan | 13,676 | $2.48M |
| Sep 1, 2026 | WILSON FREDERICK R Director | Sale 10b5-1 plan | 992 | $181.1K |
| Sep 1, 2026 | WILSON FREDERICK R Director | Sale 10b5-1 plan | 1,317 | $238.1K |
| Sep 1, 2026 | WILSON FREDERICK R Director | Sale 10b5-1 plan | 3,397 | $601.6K |
| Sep 1, 2026 | WILSON FREDERICK R Director | Sale 10b5-1 plan | 808 | $147.0K |
| Sep 1, 2026 | WILSON FREDERICK R Director | Sale 10b5-1 plan | 1,183 | $212.9K |
| Sep 1, 2026 | WILSON FREDERICK R Director | Sale 10b5-1 plan | 1,403 | $250.1K |
| Sep 1, 2026 | WILSON FREDERICK R Director | Sale 10b5-1 plan | 900 | $158.5K |
| Aug 24, 2026 | Jones Jennifer N. Chief Accounting Officer | Sale 10b5-1 plan | 2,062 | $389.2K |
| Aug 20, 2026 | Jones Jennifer N. Chief Accounting Officer | Option exercise | 1,214 | $0 |
| Aug 20, 2026 | Davies Christa Director | Option exercise | 748 | $0 |
| Aug 20, 2026 | Jones Jennifer N. Chief Accounting Officer | Option exercise | 1,321 | $0 |
| Aug 20, 2026 | Choi Emilie President & COO | Tax withheld | 18,037 | $2.89M |
| Aug 20, 2026 | Lehane Chris Director | Option exercise | 748 | $0 |
| Aug 20, 2026 | HAAS ALESIA J Chief Financial Officer | Option exercise | 4,101 | $0 |
| Aug 20, 2026 | Choi Emilie President & COO | Option exercise | 8,419 | $0 |
| Aug 20, 2026 | Choi Emilie President & COO | Option exercise | 10,143 | $0 |
| Aug 20, 2026 | HAAS ALESIA J Chief Financial Officer | Tax withheld | 8,339 | $1.34M |
| Aug 20, 2026 | Choi Emilie President & COO | Option exercise | 6,076 | $0 |
| Aug 20, 2026 | Davies Christa Director | Tax withheld | 57 | $9.1K |
| Aug 20, 2026 | HAAS ALESIA J Chief Financial Officer | Option exercise | 6,847 | $0 |
| Aug 20, 2026 | Choi Emilie President & COO | Option exercise | 11,738 | $0 |
| Aug 20, 2026 | Jones Jennifer N. Chief Accounting Officer | Tax withheld | 2,502 | $400.8K |
| Aug 20, 2026 | Jones Jennifer N. Chief Accounting Officer | Option exercise | 2,029 | $0 |
| Aug 20, 2026 | HAAS ALESIA J Chief Financial Officer | Option exercise | 5,869 | $0 |
| Aug 3, 2026 | WILSON FREDERICK R Director | Sale 10b5-1 plan | 2,761 | $397.0K |
| Aug 3, 2026 | WILSON FREDERICK R Director | Sale 10b5-1 plan | 10,589 | $1.51M |
| Aug 3, 2026 | WILSON FREDERICK R Director | Sale 10b5-1 plan | 10,494 | $1.49M |
| Aug 3, 2026 | WILSON FREDERICK R Director | Sale 10b5-1 plan | 624 | $88.6K |
| Aug 3, 2026 | WILSON FREDERICK R Director | Sale 10b5-1 plan | 1,298 | $197.2K |
| Aug 3, 2026 | WILSON FREDERICK R Director | Sale 10b5-1 plan | 1,202 | $181.3K |
| Aug 3, 2026 | WILSON FREDERICK R Director | Sale 10b5-1 plan | 2,200 | $327.5K |
| Aug 3, 2026 | WILSON FREDERICK R Director | Sale 10b5-1 plan | 1,800 | $269.8K |
| Aug 3, 2026 | WILSON FREDERICK R Director | Sale 10b5-1 plan | 800 | $118.1K |
| Aug 3, 2026 | WILSON FREDERICK R Director | Sale 10b5-1 plan | 1,000 | $146.6K |
| Aug 3, 2026 | WILSON FREDERICK R Director | Sale 10b5-1 plan | 600 | $87.2K |
| Aug 3, 2026 | WILSON FREDERICK R Director | Sale 10b5-1 plan | 100 | $14.4K |
| Aug 3, 2026 | WILSON FREDERICK R Director | Sale 10b5-1 plan | 600 | $86.9K |
| Aug 3, 2026 | WILSON FREDERICK R Director | Sale 10b5-1 plan | 354 | $50.6K |
| Aug 3, 2026 | WILSON FREDERICK R Director | Sale 10b5-1 plan | 646 | $91.8K |
| Jul 1, 2026 | WILSON FREDERICK R Director | Sale 10b5-1 plan | 1,800 | $294.2K |
| Jul 1, 2026 | WILSON FREDERICK R Director | Sale 10b5-1 plan | 2,800 | $451.2K |
| Jul 1, 2026 | WILSON FREDERICK R Director | Sale 10b5-1 plan | 1,300 | $211.3K |
Source: SEC Form 4 filings. Form 4 reports transactions, not the cap table — absence of filings says nothing about how much an insider owns, and a quiet window is not a signal.
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