earnings
confidence high
sentiment negative
materiality 0.85
Coinbase Q2 net revenue $803M, net loss $1.1B; restructures with 18% headcount cut
Coinbase Global, Inc.
2022-Q2 EPS reported
-$6.97
revenue$1,974,761,000
- Net revenue $803M, down 31% QoQ; net loss $1.1B including $446M non-cash impairment charges.
- Adjusted EBITDA negative $151M; total operating expenses $1.9B, up 8% QoQ.
- Subscription & services revenue $147M (+44% YoY); MTUs 9.0M (-2% QoQ).
- Reduced headcount by 18% (~1,100 employees) in June; lowered full-year expense guidance.
- Assets on platform $96B (-63% QoQ); no exposure to LUNA, Three Arrows Capital, Celsius, Voyager.