secwatch.observer — SEC 8-K summary
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Issuer:     Coinbase Global, Inc. (COIN)
CIK:        0001679788
Form:       8-K
Filed at:   2023-08-03T23:59:59+00:00
Accession:  0001679788-23-000105
Event type: earnings
Sentiment:  negative
Materiality: 0.80
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1679788/000167978823000105/0001679788-23-000105-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1679788/000167978823000105/coin-20230803.htm
  HTML page:      https://secwatch.observer/filing/0001679788-23-000105

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