Company / R&D Expense
Coinbase R&D Expense History
FY2019-FY2025 · Annual data · Source: SEC filings
At a glance
Latest annual filing availableLatest R&D Expense
$1.7B
FY2025
5-year range
$1.3B / $2.3B
FY2021-FY2025
Trend
+13.8%
vs FY2024
Sector context
#2 of 20
Financials
What the data says
Among 20 Financials companies, Coinbase is in the top 10% for r&d expense. Improved from $1.3B to $1.7B over the past 2 years.
Based on SEC 10-K filings.
$1.7B in FY2025 with a 5-year CAGR of +43.8%. Ranks 2nd among 20 companies in Financials.
Improved from $1.3B to $1.7B over the past 2 years.
Financials sector context is included.
R&D Expense over time
Growth rates
- 3-Year CAGR
- -10.4%
- 5-Year CAGR
- +43.8%
- 10-Year CAGR
- -
Sector benchmark
Top 10% in FinancialsTop 10% of 20This company $1.7B Sector average $402.2M
▼
+315.4% above sector average
Key checks
Key Insights
- 5-year CAGR of +43.8%, indicating consistent growth.
- In FY2025, r&d expense increased 13.8% year-over-year.
- Ranks #2 out of 20 companies in the Financials sector.
- Peak r&d expense was recorded in FY2022.
Company context
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.
Annual data
| Year | R&D ExpenseValue | YoY GrowthYoY |
|---|---|---|
| FY2025 | $1.7B | +13.8% |
| FY2024 | $1.5B | +10.8% |
| FY2023 | $1.3B | -43.1% |
| FY2022 | $2.3B | +80.1% |
| FY2021 | $1.3B | +375.3% |
| FY2020 | $271.7M | +46.8% |
| FY2019 | $185.0M | - |
As of FY2025 · SEC 10-K · Updated Feb 28, 2026