secwatch.observer — SEC 8-K summary
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Issuer:     Coinbase Global, Inc. (COIN)
CIK:        0001679788
Form:       8-K
Filed at:   2024-02-15T23:59:59+00:00
Accession:  0001679788-24-000019
Event type: earnings
Sentiment:  positive
Materiality: 0.85
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1679788/000167978824000019/0001679788-24-000019-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1679788/000167978824000019/coin-20240215.htm
  HTML page:      https://secwatch.observer/filing/0001679788-24-000019

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