Coinbase Global, Inc. (COIN) Earnings
Coinbase Global, Inc. is expected to report next earnings on July 30, 2026 (in NaN days), with a consensus EPS estimate of $0.09. COIN has beaten EPS estimates in 8 of its last 12 reported quarters (average surprise -713.9% over the last four).
| Report date | EPS est | EPS actual | Surprise | Revenue | Rev. surprise |
|---|---|---|---|---|---|
| May 7, 2026 | $0.06 | $-1.49 | -2436.2% | $1.4B | -4.9% |
| Feb 12, 2026 | $1.00 | $-2.49 | -349.0% | $1.8B | -1.5% |
| Oct 30, 2025 | $1.20 | $1.44 | +20.0% | $1.9B | +5.5% |
| Jul 31, 2025 | $1.25 | $0.12 | -90.4% | $1.5B | -5.7% |
| May 8, 2025 | $1.94 | $1.94 | +0.0% | $2.0B | -1.8% |
| Feb 13, 2025 | $0.46 | $3.39 | +637.0% | $2.3B | +23.4% |
| Oct 30, 2024 | $0.41 | $0.62 | +49.8% | $1.1B | -10.5% |
| Aug 1, 2024 | $0.95 | $1.07 | +12.8% | $1.4B | -1.3% |
| May 2, 2024 | $1.15 | $1.65 | +43.5% | $1.4B | +8.1% |
| Feb 15, 2024 | $0.01 | $1.04 | +13354.1% | $954M | +15.5% |
| Nov 2, 2023 | $-0.54 | $-0.01 | +98.1% | $674M | +3.6% |
| Aug 3, 2023 | $-0.78 | $-0.42 | +46.2% | $708M | +12.8% |
Source: company filings + earnings calendar. For informational purposes only — not investment advice.
Earnings call summary
Q1 FY2026 · May 7, 2026
AI summary of management’s prepared remarks and analyst Q&A. For informational purposes only — not investment advice.
Management highlights
- Mission: Increase economic freedom by providing crypto for equal access. - Q1 performance: Faced soft trading market but had growth in derivatives, USDC held, stablecoin transactions; crypto trading market share grew, 12th quarter of net native unit inflows; stablecoin USDC hit all-time high. - 2026 priorities: Everything Exchange (added stock, derivatives, prediction markets), stablecoins and payments, bringing trading and payments on chain. - Control what can control, Q1 results within or better than outlook, transaction revenue affected by market, subscription and services revenue resilient, stablecoin revenue strong
Guidance
Subscription and services revenue: $565 - $645M, possible quarter-over-quarter growth. Q2 expenses: $820 - $870M, down from Q1. Restructuring expenses: $50 - $60M in Q2. AI progress: Pull requests per engineer up ~80% yoy, integration test coverage up 3x in 6 months. 2026 adjusted expenses: 4.3 - 4.6 billion dollars, ~$500M lower than Q4 2025 exit rate
Segment performance
Crypto trading market share: reached new all-time high globally despite down market. Assets on platforms: stored more crypto than any other platform, 12th consecutive quarter of net native unit inflows. Stablecoin growth: USDC on platform hit all-time high, largest distributor of USDC with over 25% held in products, capturing ~50% of USDC economics
Risks & headwinds
Market headwinds causing price pressure. AI-related risk of non-technical developers pushing code into production without proper human review, impact on quality and brand trust. Uncertainty in regulatory rules after Clarity Act passage, need to write new rules affecting business
Analyst Q&A
Q: Comment on Clarity Act status,
A: Bill to hit markup this month, rewards preserved, rules to be written.
Q: AI code in production,
A: Non-technical use AI to draft code, human engineers review before production.
Q: Stablecoin rewards policy impact on Circle contract,
A: Contracts auto-renew, relationship to proceed as before.
Q: Market share gain,
A: Gained share due to trust, product innovation.
Q: Stablecoin movement infrastructure,
A: Vertically integrated stack, not just network participant.
Q: X402 protocol,
A: 99% X402 transactions in USDC, 90% on base chain.
Q: Everything Exchange monetization,
A: New products like derivatives and prediction markets driving growth.
Q: Crypto options launch,
A: Deribit integration progressing, expect full integration in 2026.
Q: Crypto volume pressure,
A: Diversifying asset classes via Everything Exchange, utility side already present.
Q: Risks and cost savings,
A: Restructuring from market and AI transition, adjusted expenses lower.
Q: Fee reduction plan,
A: Customers choose for trust, not just fees, diversified revenue.
Q: Institutional transaction revenue,
A: In line with macro, Deribit open interest steady, institutional engagement strong.
Q: Future excitement,
A: Assets on-chain, stablecoin payments, agentic commerce with AI agents