Coinbase Q2 net loss $97M, positive Adj EBITDA $194M; net revenue down 10% Q/Q

Coinbase Global, Inc.

2023-Q2 EPS reported -$0.76 revenue$1,480,440,000

Net revenue $663M (down 10% Q/Q); transaction revenue $327M (-13% Q/Q) on low crypto volatility.
Subscription & services revenue $335M (-7% Q/Q); interest income $201M (-16% Q/Q) from lower USDC mkt cap.
Operating expenses $781M (-13% Q/Q); recurring expenses $664M (-1% Q/Q); SBC $200M.
$USD resources $5.5B, up $156M Q/Q; FTEs 3,406 (down from 3,535 in Q1).
Q3 outlook: July trans rev ~$110M; sub rev at least $300M; goal to improve full-year 2023 Adj EBITDA vs 2022.

item 2.02 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 1.0

Coinbase Global, Inc. reported the quarter ended June 30, 2023 results: revenue $708 million, net income $97 million of Net Loss.

Period: the quarter ended June 30, 2023
Revenue: $708 million
Net income: $97 million of Net Loss
Result: reported results

Exact text from the filing

in Q2, our continued financial discipline resulted in $97 million of Net Loss and positive $194 million of Adjusted EBITDA. Total revenue was $708 million, down 8% Q/Q, and net revenue was $663 million, down 10% Q/Q.

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Source: SEC EDGAR

accession 0001679788-23-000105

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