secwatch.observer — SEC 8-K summary
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Issuer:     Coinbase Global, Inc. (COIN)
CIK:        0001679788
Form:       8-K
Filed at:   2022-08-09T23:59:59+00:00
Accession:  0001679788-22-000083
Event type: earnings
Sentiment:  negative
Materiality: 0.85
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Coinbase Q2 net revenue $803M, net loss $1.1B; restructures with 18% headcount cut
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- 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.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1679788/000167978822000083/0001679788-22-000083-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1679788/000167978822000083/coin-20220809.htm
  HTML page:      https://secwatch.observer/filing/0001679788-22-000083

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer