---
schema_version: "secwatch.filing_event.v1"
accession: "0001679788-23-000029"
form_type: "8-K"
ticker: "COIN"
cik: "0001679788"
company_name: "Coinbase Global, Inc."
filed_at: "2023-02-21T23:59:59+00:00"
generated_at: "2026-06-19T07:05:46.223307+00:00"
event_type: "earnings"
sentiment: "negative"
materiality_score: 0.75
calibrated_materiality_score: 0.75
confidence: "high"
source: SEC EDGAR
---

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

## Summary
- 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.

## SEC filing metadata
- accession: 0001679788-23-000029
- form_type: 8-K
- ticker: COIN
- cik: 0001679788
- company_name: Coinbase Global, Inc.
- filed_at: 2023-02-21T23:59:59+00:00
- event_type: earnings
- sentiment: negative
- materiality_score: 0.75
- calibrated_materiality_score: 0.75
- confidence: high
- sec_items: 2.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1679788/000167978823000029/0001679788-23-000029-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1679788/000167978823000029/coin-20230221.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001679788-23-000029
- JSON: https://secwatch.observer/filing/0001679788-23-000029.json
- Plain text: https://secwatch.observer/filing/0001679788-23-000029.txt

## Key facts
- Earnings Releases
  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
  source text: 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”).
  evidence_url: https://www.sec.gov/Archives/edgar/data/1679788/000167978823000029/0001679788-23-000029-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.