Coinbase Q4 net revenue $605M (+5% Q/Q), net loss $557M; full-year net loss $2.6B

Coinbase Global, Inc.

2022-FY EPS reported -$11.83 revenue$3,194,208,000

Q4 net revenue $605M, up 5% Q/Q; transaction revenue $322M (-12% Q/Q), subscription & services $283M (+34% Q/Q).
Full-year 2022 net revenue $3.1B (down from $7.4B in 2021); net loss $2.6B including $694M non-cash impairment.
Q4 Adjusted EBITDA -$124M; full-year -$371M, within prior guardrail of -$500M.
Expects >30% reduction in Q1'23 operating expenses vs Q4'22; targeting improved full-year 2023 Adjusted EBITDA.
Ended Q4 with $5.5B USD resources and $426M crypto assets; no customer funds lost from counterparty insolvencies.

item 2.02 item 9.01

Key facts

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Earnings Releases SEC 8-K Item 2.02 confidence 0.9

Coinbase Global, Inc. reported financial results for the quarter and full year ended December 31, 2022.

Period: the quarter and full year ended December 31, 2022
Result: reported results

Exact text from the filing

On February 21, 2023, Coinbase Global, Inc. (“Coinbase” or the “Company”) will hold a conference call regarding its financial results for the quarter and full year ended December 31, 2022. Coinbase also issued a letter to its shareholders announcing its financial results for the quarter and full year ended December 31, 2022 (the “Shareholder Letter”).

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Source: SEC EDGAR

accession 0001679788-23-000029

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