Coinbase Global Inc
NASDAQ: COIN · FINANCIAL SERVICES · FINANCIAL DATA & STOCK EXCHANGES
Updated 2026-06-05
Coinbase Global Inc (COIN) Financial statements
SEC filings — annual and quarterly data.
Cash flow — annual
| Item | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|
| Operating cash flow | $-80.59M | $3.00B | $4.04B | $-1.59B | $922.95M | $2.56B | $2.43B |
| Capital expenditures | $40.47M | $18.80M | $82.87M | $2.93M | $63.20M | $0.00 | $0.00 |
| Depreciation | $16.88M | $30.96M | $63.65M | $154.07M | $139.64M | $127.52M | — |
| Stock-based comp | $31.15M | $70.55M | $820.68M | $1.57B | $780.67M | $912.84M | $839.44M |
| Free cash flow | $-121.06M | $2.99B | $3.96B | $-1.59B | $859.75M | $2.56B | $2.43B |
| Investing cash flow | $-105.35M | $50.82M | $-1.12B | $-663.82M | $5.39M | $-282.38M | — |
| Financing cash flow | $-16.61M | $18.80M | $9.98B | $-5.84B | $-811.33M | $2.83B | — |
| Dividends paid | $27.63M | $6.20M | $3.35B | $279.52M | — | — | — |
| Share repurchases | — | — | — | — | — | — | — |
| Debt repayment | — | — | — | — | — | — | — |
| Net change in cash | — | — | $12.89B | $-8.09B | — | — | — |
Frequently asked questions
What is Coinbase Global Inc's revenue?
Coinbase Global Inc's trailing twelve-month revenue is $6.29B, and consensus projects about $23.60B by 2030. Revenue is the top line the whole model builds on, and at this scale the question shifts from how fast it grows to whether margins hold as it compounds.
How profitable is COIN?
In its most recent fiscal year, COIN ran a gross margin of 74.64%, an operating margin of 19.99%, and a net margin of 17.55%. Margins this high mean most of each extra dollar of revenue drops through to profit, which is the signature of real pricing power.
How much free cash flow does COIN generate?
COIN produced $2.43B in free cash flow in its most recent fiscal year. Free cash flow is what is left after running and reinvesting in the business, and it is the cash that actually funds buybacks, dividends, and a stronger balance sheet.
Is COIN's balance sheet healthy?
COIN holds $11.29B in cash and equivalents against $5.94B in long-term debt, on $14.79B of shareholder equity. Cash on hand exceeds long-term debt, so the balance sheet adds little financial risk to the thesis.