secwatch.observer — SEC 8-K summary
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Issuer:     Coinbase Global, Inc. (COIN)
CIK:        0001679788
Form:       8-K
Filed at:   2023-02-21T23:59:59+00:00
Accession:  0001679788-23-000029
Event type: earnings
Sentiment:  negative
Materiality: 0.75
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1679788/000167978823000029/0001679788-23-000029-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1679788/000167978823000029/coin-20230221.htm
  HTML page:      https://secwatch.observer/filing/0001679788-23-000029

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