Form 10-Q · Quarterly report
Coinbase 10-Q, filed Oct 29, 2026
- Filed
- CIK
- 0001679788
- Accession no.
- 0001679788-26-000122
Summary
Coinbase reported third-quarter 2026 net revenue of $1.2 billion, down from $1.8 billion a year earlier, as transaction revenue fell 44% amid a decline in consumer crypto spot trading volume; quarterly net income was $718.7 million. Coinbase said it renewed its arrangement with Circle Internet Financial on the same terms and pointed to a May 2026 restructuring plan intended to align operating expenses with current market conditions and optimize operations for the AI era.
Key points
- Net revenue for the nine months ended September 30, 2026 was $3.7 billion, versus $5.1 billion a year earlier.
- Assets on Platform were $376.6 billion at September 30, 2026, down from $515.9 billion a year earlier, largely reflecting a $160.5 billion decline driven primarily by falling prices of certain crypto assets, mostly Bitcoin.
- Monthly Transacting Users were 7.4 million for the quarter, down from 9.3 million, which Coinbase attributed mainly to a decrease in trading users influenced by market conditions.
- Subscription and services revenue fell 20% to $570.2 million, with blockchain rewards down 54% on lower average crypto asset prices and reward rates, primarily Solana and Ethereum, partly offset by higher staked balances.
Written by an AI model from the filing text. It can be incomplete or wrong; the filing on SEC.gov is the record.
From the filing
ITEM 2. MANAGEMENT’S DISCUSSION Executive Overview This executive overview of Management’s Discussion and Analysis of Financial Condition and Results of Operations highlights selected information and does not contain all of the information that is important to readers of this Quarterly Report on Form 10-Q. Our top three product priorities for 2026 are to grow the everything exchange, scale stablecoins and payments, and expand onchain adoption. During 2026, we continued to execute against our top product priorities. …
An excerpt of the text as filed with the SEC, cut for length.
Readster writes AI-generated summaries of public filings for research purposes only. Summaries can be incomplete or wrong — check the original filing on SEC.gov before relying on it. Nothing here is investment, legal or medical advice.