Coinbase Income Statement
COIN / Financials|7 years of annual SEC 10-K data (FY2019-FY2025)
Line items include revenue, cost of goods sold, gross profit, operating expenses, interest, taxes, and net income with per-share data across 7 fiscal years. All figures from audited SEC 10-K filings.
Coinbase reported $7.2B in revenue and $1.3B in net income for FY2025. Revenue has grown at a 54.2% compound annual rate over the past 6 years.
Based on SEC 10-K filings.
Key Data Points
- Strong profit margin: 41.9%
- High earnings quality (cash-backed earnings)
- Strong return on equity: 20.1%
Data sourced from SEC EDGAR filings. Not investment advice.
| Item | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 |
|---|---|---|---|---|---|---|---|
| Revenue | $7.2B | $6.6B | $3.1B | $3.2B | $7.8B | $1.3B | $533.7M |
| SG&A Expense | $1.6B | $1.3B | $1.1B | $1.6B | $909.4M | $279.9M | $231.9M |
| R&D Expense | $1.7B | $1.5B | $1.3B | $2.3B | $1.3B | $271.7M | $185.0M |
| Operating Income | $1.4B | $2.3B | -$161.7M | -$2.7B | $3.1B | $409.0M | -$45.8M |
| Interest Expense | - | - | $82.8M | $88.9M | $29.2M | $0 | - |
| Income Tax | $261.7M | $363.6M | -$171.7M | -$439.6M | -$597.2M | $86.9M | -$15.0M |
| Net Income | $1.3B | $2.6B | $94.9M | -$2.6B | $3.6B | $322.3M | -$30.4M |
| EPS (Basic) | $0.40 | -$11.81 | $17.47 | $1.58 | -$0.50 | $1.58 | -$0.50 |
| EPS (Diluted) | $0.37 | -$11.83 | $14.50 | $1.40 | -$0.50 | $1.40 | -$0.50 |
| Shares Outstanding | 253.6M | 222.3M | 220.0M | 91.2M | 61.3M | 91.2M | 61.3M |
| Operating Margin | 20.0% | 35.1% | -5.2% | -84.9% | 39.2% | 32.0% | -8.6% |
| Profit Margin | 17.5% | 39.3% | 3.0% | -82.2% | 46.2% | 25.2% | -5.7% |