AI-extracted from the 10-Q filed 2026-07-30 — Q2 FY2026 (quarter ended June 30, 2026). Every figure is machine-verified against the filing text on SEC EDGAR.
Coinbase's Q2 2026 total revenue fell 19% YoY to $1.22B and it posted a $359.5M net loss, as consumer transaction revenue dropped 31% on weaker crypto trading volume.
Biggest Revenue Drivers
Subscription and services revenue$555.1M-12% YoY
Lower blockchain rewards from lower crypto prices and reward rates, partly offset by higher average USDC balances in stablecoin revenue
Consumer transaction revenue$451.7M-31% YoY
38% decrease in consumer Crypto Spot Trading Volume, offset in part by growth in derivatives trading volume and prediction markets
Biggest Revenue Drivers
Total revenue: $1.22B-19% YoY
Subscription and services revenue$555.1M-12% YoY
Lower blockchain rewards from lower crypto prices and reward rates, partly offset by higher average USDC balances in stablecoin revenue
Consumer transaction revenue$451.7M-31% YoY
38% decrease in consumer Crypto Spot Trading Volume, offset in part by growth in derivatives trading volume and prediction markets
Institutional transaction revenue$100.1M+65% YoY
Mainly due to the acquisition of Deribit in August 2025
Corporate interest and other income$65.8M-35% YoY
73 basis point decline in average interest rates earned
Largest Expense Items
Technology and development$472.8M+22% YoY
Higher employee-related expenses from 3% higher average headcount, tempered by the Restructuring and lower capitalized technology costs
General and administrative$356.9M+1% YoY
Higher employee-related expenses, partly offset by lower customer support costs from lower transaction volume
Sales and marketing$239.8M+2% YoY
$45.4M increase in USDC rewards from higher customer USDC balances, offset by lower marketing program spend
Margins: Operating loss of $113.5M versus a $24.7M operating loss a year ago, with Adjusted EBITDA of $207.8M against $512.1M. The filing attributes the decline to lower transaction revenue and higher technology spend, partly offset by a $52.4M restructuring charge recorded in the quarter.
Watch Items from the Filing
One counterparty accounted for 26% of total revenue in Q2 2026, up from 22% a year earlier.
Crypto losses on assets held for investment were $209.5M in the quarter, reflecting declining Bitcoin and Ethereum prices.
A May 2026 restructuring cut about 700 employees and recorded $52.4M in severance and termination costs.
A state securities regulator action over staking services remains unresolved, and the filing says an adverse outcome could be material.
Repurchase program was raised to $4.0B, with $2.0B utilized and $2.0B remaining, while $1.3B of 2026 convertible notes was repaid in cash.
AI-extracted and verified against SEC EDGAR filing text. Not investment advice.
Lehane ChrisDirectorOption exercise · Aug 20, 2026
Davies ChristaDirectorShares withheld for tax or exercise price · Aug 20, 2026
Choi EmiliePresident & COOShares withheld for tax or exercise price · Aug 20, 2026
Clement PaulDirectorOption exercise · Jun 16, 2026
Kramer Kelly A.DirectorGrant or award · Jun 16, 2026
Congress trading in COIN
26 transactions in COIN reported by 9 members of Congress under the STOCK Act, most recent trade Aug 18, 2026. Reported transactions, not recommendations.
About Coinbase Global, Inc. (COIN): stock profile, AI score and financials
Coinbase Global, Inc. (COIN) stock profile, AI quality score, and SEC EDGAR financial data, a Financials sector company. 13F Pro's AI-powered ranking engine scores COIN at 43.7/100 on a composite quality score built from its SEC filings, placing it at rank #1,954 of 2,925 stocks — the bottom half of the AI-ranked universe. COIN scores in the top quartile across free cash flow (81.4), revenue scale (81.0). Areas of concern include institutional flow (1.6) and profitability (15.9), which score below median versus the broader universe. Shareholder dilution risk is elevated at 14.3/100, reflecting ongoing share issuance or stock-based compensation. Based on the latest XBRL financial filings (Q2 2026), Coinbase Global, Inc. reports quarterly revenue of $1.2B, net income of $-359.5M, an operating margin of -9.3%. Top institutional holders of COIN by reported 13-F value include BlackRock, VANGUARD CAPITAL MANAGEMENT, STATE STREET, based on the most recent SEC filings. COIN trades on the Nasdaq exchange and files with the SEC under CIK 1679788. 13F Pro's AI research platform runs 10 specialized AI analysts — value, growth, momentum, macro, and activist specialists — that debate COIN daily and publish AI-generated analysis with cited SEC sources. The platform aggregates historical XBRL financial facts, 10-Q and 10-K filings, insider Form 4 transactions, and institutional 13-F holdings for Coinbase Global, Inc. directly from SEC EDGAR.