---
schema_version: "secwatch.filing_event.v1"
accession: "0001679788-23-000105"
form_type: "8-K"
ticker: "COIN"
cik: "0001679788"
company_name: "Coinbase Global, Inc."
filed_at: "2023-08-03T23:59:59+00:00"
generated_at: "2026-06-12T08:39:18.674901+00:00"
event_type: "earnings"
sentiment: "negative"
materiality_score: 0.8
calibrated_materiality_score: 0.8
confidence: "high"
source: SEC EDGAR
---

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

## Summary
- 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.

## SEC filing metadata
- accession: 0001679788-23-000105
- form_type: 8-K
- ticker: COIN
- cik: 0001679788
- company_name: Coinbase Global, Inc.
- filed_at: 2023-08-03T23:59:59+00:00
- event_type: earnings
- sentiment: negative
- materiality_score: 0.8
- calibrated_materiality_score: 0.8
- confidence: high
- sec_items: 2.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1679788/000167978823000105/0001679788-23-000105-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1679788/000167978823000105/coin-20230803.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001679788-23-000105
- JSON: https://secwatch.observer/filing/0001679788-23-000105.json
- Plain text: https://secwatch.observer/filing/0001679788-23-000105.txt

## Key facts
- Earnings Releases
  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
  source text: 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.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1679788/000167978823000105/0001679788-23-000105-index.htm

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