Coinbase Q4 net income $273M, FY2023 net income $95M; revenue $3.1B, subscription revenue up 78% YoY

Coinbase Global, Inc.

2023-FY EPS reported $0.37 revenue$3,108,383,000

Q4 net income $273M (incl. $121M tax release and $18M debt repurchase gain); Adjusted EBITDA $305M; revenue $954M (+41% Q/Q).
Full-year 2023 net income $95M vs. ($2.6B) loss in 2022; Adjusted EBITDA $964M vs. ($371M); total revenue $3.1B (-3% YoY).
Subscription & services revenue FY2023 $1.4B (+78% YoY); transaction revenue $1.5B (-36% YoY); Q4 transaction revenue $529M (+83% Q/Q).
Balance sheet: $5.7B USD resources, debt reduced 12% in 2023; $1.0B crypto investment portfolio; served as custodian for 8/11 Bitcoin ETFs.
Q1'24 outlook: transaction revenue through Feb 13 ~$320M; subscription & services $410-480M; T&D + G&A $600-650M; positive EBITDA goal.

item 2.02 item 9.01

Key facts

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Earnings Releases SEC 8-K Item 2.02 confidence 0.9

Coinbase Global, Inc. reported financial results for the quarter and full year ended December 31, 2023.

Period: the quarter and full year ended December 31, 2023
Result: reported results

Exact text from the filing

On February 15, 2024, Coinbase Global, Inc. (“Coinbase” or the “Company”) will hold a conference call regarding its financial results for the quarter and full year ended December 31, 2023. Coinbase also issued a letter to its shareholders announcing its financial results for the quarter and full year ended December 31, 2023 (the “Shareholder Letter”).

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Source: SEC EDGAR

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