---
schema_version: "secwatch.filing_event.v1"
accession: "0001679788-23-000112"
form_type: "8-K"
ticker: "COIN"
cik: "0001679788"
company_name: "Coinbase Global, Inc."
filed_at: "2023-11-02T23:59:59+00:00"
generated_at: "2026-06-09T00:34:11.645071+00:00"
event_type: "earnings"
sentiment: "neutral"
materiality_score: 0.75
calibrated_materiality_score: 0.75
confidence: "high"
source: SEC EDGAR
---

# Coinbase Q3 net loss narrows to $2M; revenue down 5% Q/Q; repurchases $263M debt

## Summary
- Q3 net loss of $2M (vs Q2 loss $97M); Adjusted EBITDA $181M, third consecutive positive quarter.
- Total revenue $674M (-5% Q/Q); net revenue $623M; transaction revenue $289M (-12% Q/Q) due to low volatility.
- Subscription & services revenue $334M, largely flat; stablecoin revenue $172M (+14% Q/Q) from USDC arrangement.
- Repurchased $263M of 2031 Senior Notes at ~33% discount, using $177M cash.
- Q4 outlook: Oct transaction revenue ~$105M; expects meaningful positive FY2023 Adjusted EBITDA (revised from prior goal).

## SEC filing metadata
- accession: 0001679788-23-000112
- form_type: 8-K
- ticker: COIN
- cik: 0001679788
- company_name: Coinbase Global, Inc.
- filed_at: 2023-11-02T23:59:59+00:00
- event_type: earnings
- sentiment: neutral
- 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/1679788/000167978823000112/0001679788-23-000112-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1679788/000167978823000112/coin-20231102.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001679788-23-000112
- JSON: https://secwatch.observer/filing/0001679788-23-000112.json
- Plain text: https://secwatch.observer/filing/0001679788-23-000112.txt

## Key facts
- Earnings Releases
  Coinbase Global, Inc. reported the quarter ended September 30, 2023 results: revenue $674 million, net income $2 million.
  - Period: the quarter ended September 30, 2023
  - Revenue: $674 million
  - Net income: $2 million
  - Result: reported results
  source text: a sustainable business to drive long term growth; in Q3, net loss was $2 million and we generated positive Adjusted EBITDA for the third consecutive quarter. Total revenue was $674 million, down 5% Q/Q. Net revenue was $623 million, down 6% Q/Q. Total operating expenses were $754 million, down 4% Q/Q, while technology & development, sales & marketing, and general &
  evidence_url: https://www.sec.gov/Archives/edgar/data/1679788/000167978823000112/0001679788-23-000112-index.htm

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