---
schema_version: "secwatch.filing_event.v1"
accession: "0001679788-26-000011"
form_type: "8-K"
ticker: "COIN"
cik: "0001679788"
company_name: "Coinbase Global, Inc."
filed_at: "2026-02-12T23:59:59+00:00"
generated_at: "2026-05-16T03:03:41.966235+00:00"
event_type: "earnings"
sentiment: "negative"
materiality_score: 0.8
calibrated_materiality_score: 0.8
confidence: "high"
source: SEC EDGAR
---

# Coinbase Q4 net loss $667M, total revenue $1.78B; full-year revenue $7.2B

## Summary
- Net loss $667M (incl. $718M unrealized crypto investment loss); Adjusted EBITDA $566M, adjusted net income $178M.
- Q4 total revenue $1.78B (-5% Q/Q); transaction rev $983M (-6%), subscription & services $727M (-3%).
- Full year 2025 revenue $7.2B (+9% Y/Y); stablecoin revenue $1.35B; Assets on Platform tripled in 3 years.
- Repurchased 8.2M shares for $1.7B since Nov 2025; board added $2B authorization in Jan 2026.
- Q1 2026 outlook: subscription & services $550-630M; transaction rev through Feb 10 ~$420M.

## SEC filing metadata
- accession: 0001679788-26-000011
- form_type: 8-K
- ticker: COIN
- cik: 0001679788
- company_name: Coinbase Global, Inc.
- filed_at: 2026-02-12T23:59:59+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/1679788/000167978826000011/0001679788-26-000011-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1679788/000167978826000011/coin-20260212.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001679788-26-000011
- JSON: https://secwatch.observer/filing/0001679788-26-000011.json
- Plain text: https://secwatch.observer/filing/0001679788-26-000011.txt

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