Quarterly ResultMay 7, 2026, 04:20 PM
Coinbase Q1 Revenue $1.41B; Net Loss $(394.1)M
AI Summary
Coinbase Global, Inc. reported Q1 2026 financial results with total revenue of $1.41 billion and a net loss of $(394.1) million. Despite a challenging crypto market, the company achieved $303.3 million in Adjusted EBITDA and maintained a strong balance sheet with $10.2 billion in cash and equivalents. Coinbase gained market share, saw growth in retail derivatives and prediction markets, and continued its cost discipline, though Base Chain stablecoin transaction volume saw a significant year-over-year decrease.
Key Highlights
- Total revenue for Q1 2026 was $1.41 billion, down 21% Q/Q and 31% Y/Y.
- Net loss for Q1 2026 was $(394.1) million.
- Adjusted EBITDA for Q1 2026 was $303.3 million, down 46% Q/Q and 67% Y/Y.
- Cash and cash equivalents stood at $10.2 billion, with $1.8 billion in crypto and marketable investments.
- Transaction revenue was $755.8 million (-23% Q/Q), and subscription & services revenue was $583.5 million (-16% Q/Q).
- Retail derivatives annualized revenue exceeded $200 million, and prediction markets reached $100 million+ annualized revenue.
- Coinbase gained crypto trading market share globally and recorded its 12th consecutive quarter of native unit inflows.
- Base Chain stablecoin transaction volume decreased 10x Y/Y.