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Coinbase said prediction markets crossed $200 million of annualized run-rate revenue in the third quarter, offsetting a 10% quarter-over-quarter decline in crypto spot trading volume and helping keep revenue flat.
Coinbase generated $3.7 billion net revenue and a $34.9 million net loss for the nine months ended September 30, 2026, versus $5.1 billion and $1.9 billion net income in 2025.
Coinbase Global, Inc. reported $1.2B total revenue, $719M net income and $333M Adjusted EBITDA for Q3’26. Q4’26 outlook called for $550-$630 million transaction revenue, ~$240 million transaction expenses and $1,007-$1,157 million Adjusted Expenses.
Jennifer Jones notified Coinbase Global, Inc. on September 29, 2026 of her decision to retire as Chief Accounting Officer and principal accounting officer. Coinbase initiated a successor search, and she will remain in both roles through the transition.
Useful current figures from the complete screener profile.
* Q4 derived as the full year minus Q1 to Q3.
TL;DR. Coinbase reported Q2 revenue of $1.2B, down 14% Q/Q and 19% Y/Y, with transaction revenue down 21% Q/Q and a $359M net loss, as softer crypto trading conditions weighed on results. It reduced and narrowed 2026 Adjusted Expenses guidance to $4,200M–$4,450M, while gaining crypto trading market share, growing prediction-market revenue by more than 2x Q/Q, and maintaining $208M of positive Adjusted EBITDA.
AI-generated from the earnings call and 8-K · may contain errors · not investment advice
Blended from price, momentum, positioning, fundamentals & volatility · daily-close · not investment advice. Market backdrop is context, not part of the score.
Still-open targets the latest release did not restate under the same label.
Guidance from company 8-Ks · delivered figures from as-reported statements · no analyst estimates involved.
Illustrative technical + ownership context — a signal mix, not investment advice.
| Metric | Latest | Period | YoY |
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| Annualized prediction markets revenue | $91.65M | FY2026 Q3 | -32.1% |
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| Blockchain Rewards | $85.74M | FY2026 Q3 | -53.6% |
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| Consumer Transaction Revenue | $450.11M | FY2026 Q3 | -46.6% |
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| Institutional Transaction Revenue | $91.65M | FY2026 Q3 | -32.1% |
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| Interest and Finance Fee Income | $55.12M | FY2026 Q3 | -47.9% |
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| Other Transaction Revenue | $48.46M | FY2026 Q3 | -28.4% |
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| Adjusted EBITDA non-GAAP | $207.8M | the three months ended June 30, 2026 filing | — |
GAAP → non-GAAP reconciliationGAAP Net (loss) income -$359.47M
-$35.94M (Benefit from) provision for income taxes
+$22.52M Interest expense
+$64.4M Depreciation and amortization
+$238.34M Stock-based compensation expense
-$33.85M Data Theft Incident (recoveries) losses, net
+$209.5M Losses (gains) on crypto assets held for investment, net
+$52.41M Restructuring
+$49.91M Other expense (income), net
= Adjusted EBITDA $207.81M
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| Adjusted Expenses non-GAAP | $1.03B | Q2'26 | — |
| Adjusted Net Income (Loss) non-GAAP | -$104.9M | Q2'26 | — |
GAAP → non-GAAP reconciliationGAAP Net income (loss) -359.5M
+209.5M Losses (gains) on crypto assets held for investment, net
+58.2M (Gains) losses on investments, net
-13.2M Tax effect of non-GAAP net income adjustments
= Adjusted Net Income (Loss) -104.9M
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| Assets on Platform | $246B | Q2'26 | — |
| Assets on Platform % of Total Crypto Market Cap | 11.2% | Q2'26 | — |
| Average Borrow/Lend Balances | $1.49B | Q2'26 | — |
| Average Off-Platform USDC Balances | $77B | Q2'26 | — |
| Average USDC Held in Coinbase Products | $20B | Q2'26 | — |
| Class A Shares Repurchased | 10.1M | Q2'26 | — |
| Coinbase Crypto Trading Volume Market Share | 10.3% | Q2'26 | — |
| Coinbase Total Trading Volume | 1.3T | Q2'26 | — |
| Consumer Trading Volume | 25.8B | Q2'26 | — |
| Crypto Derivatives Trading Volume | 1.03T | Q2'26 | — |
| Crypto Derivatives Trading Volume (TTM) | $4.22T | Q2'26 | — |
| Crypto Spot Trading Volume | 146.4B | Q2'26 | — |
| Derivatives Trading Volume | 1.06T | Q2'26 | — |
| FTEs | 4,321 | Q2'26 | — |
| Institutional Trading Volume | 120.6B | Q2'26 | — |
| Monthly Transacting Users | 7.6M | the three months ended June 30, 2026 filing | — |
| Off-platform USDC | 57B | Q2'26 | — |
| Off-platform USDC Revenue | $146M | Q2'26 | — |
| Other Derivatives Trading Volume | 33.6B | Q2'26 | — |
| Portion held in corporate balances | 3B | Q2'26 | — |
| Prediction Markets Revenue Q/Q growth | 106% | Q2'26 | — |
| Revenue on Corporate Balances | $28M | Q2'26 | — |
| Share of agentic stablecoin transaction volumes on Base | 99% | Q2'26 | — |
| Share of onchain agentic commerce completed using USDC | 97% | Q2'26 | — |
| Share of onchain agentic transactions completed using x402 | 90% | Q2'26 | — |
| Stablecoin Conversions (Mint/Burn) | 85.2B | Q2'26 | — |
| Stablecoin Trading Volume | 7.5B | Q2'26 | — |
| Stablecoin Volume | 92.7B | Q2'26 | — |
| Subscription & Services as % of total net revenue | 48% | Q2'26 | — |
| Total Stablecoin Revenue | $320M | Q2'26 | — |
| Total USDC Average Market Capitalization | 77B | Q2'26 | — |
| Transaction Expense as % of Net Revenue | 16% | Q2'26 | — |
Figures exactly as the company stated them in writing · click a metric with a to chart its history · period links open the stating document · "filing" marks figures stated in the 10-K/10-Q · YoY needs an exactly comparable prior-year period
| Company | Mkt cap | YTD | Rev growth Y/Y | P/E | Short % shares |
|---|---|---|---|---|---|
|
COIN
this stock
Coinbase Global, Inc.
|
$33.80B | -43.6% | +9.4% | — | 8.6% |
|
SPGI
S&P Global Inc.
|
$137.29B | — | +7.1% | 29.7 | 1.5% |
|
CME
Cme Group Inc.
|
$113.81B | +16.4% | +6.4% | 26.1 | 1.5% |
|
ICE
Intercontinental Exchange, Inc.
|
$99.76B | +10.2% | -2.1% | 24.4 | 1.1% |
|
MCO
Moodys Corp
|
$87.61B | -0.5% | +16.6% | 31.0 | 1.8% |
Peers by industry group · P/E from as-reported trailing EPS · short % is of shares outstanding
Coinbase Global, Inc. reported $1.2B total revenue, $719M net income and $333M Adjusted EBITDA for Q3’26. Q4’26 outlook called for $550-$630 million transaction revenue, ~$240 million transaction expenses and $1,007-$1,157 million Adjusted Expenses.
View| 5D | 20D | 120D | MTD | YTD | |
|---|---|---|---|---|---|
| COIN | -5.3% | -26.3% | -29.1% | -11.1% | -43.6% |
| SPY | +2.6% | -1.2% | +0.5% | -0.2% | +10.6% |
| vs SPY | -7.9% | -25.1% | -29.6% | -10.9% | -54.2% |
Dividends per share over the trailing 365 days by ex-date · buyback figures as last reported in SEC filings ("spent" derived as authorized − remaining; when several programs run concurrently, authorized is their combined total per the newest filing) · components shown separately — trailing-year buyback spend isn't tracked, so no combined shareholder yield is derived.
