Coinbase Global, Inc. Financial Statements FY2021-FY2026Q2

Coinbase Global, Inc. (COIN) Financial Statements in Beancount — Open Ledger

Coinbase Global's income statement and balance sheet, FY2021 through FY2026Q2, as a public, auditable plain-text Beancount ledger — reconstructed line by line from the company's own Form 10-K and 10-Q filings and version-controlled in git. Part of the Open Ledger project on beancount.io.

Browse it live: beancount.io/ledger/open_ledger/coinbase

Latest analysis: Coinbase Q2 2026 Earnings: $1.22 Billion Revenue and a $359 Million Net Loss Test the Everything Exchange Thesis

Key Figures

Amounts in MUSD (millions of US dollars), exactly as the ledger records them.

What's Inside

Fiscal years end December 31. All figures sourced from Coinbase Global, Inc. Form 10-K and Form 10-Q filings on SEC EDGAR (CIK 0001679788); each period file cites its filing.

Quick Start

uvx --from beancount bean-check main.bean
uvx --from beanquery bean-query main.bean \
  "SELECT year, sum(position) WHERE account ~ '^Income:Revenue' GROUP BY year ORDER BY year"

Zero output from bean-check means the ledger is internally consistent: every
income statement sums to zero and every balance-sheet snapshot reconciles to
the filed totals. The query prints revenue by calendar year; income is a
credit, so it shows as a negative number. Open main.bean in Fava
or import it into beancount.io to explore it visually.

Methodology

• Balance sheet — pad / balance directives assert each period-end
  figure against the filing named in that period file's source banner.
• Income statement — one zero-sum transaction per period: Income
  negative (credit), Expenses positive (debit), with the arithmetic check in
  a comment directly above it.
• Unit — MUSD; 1,220.068 MUSD means 1,220.068 million US dollars.
• Caption mapping — Coinbase's income statement has no cost-of-revenue
  caption. Transaction expense is posted on Expenses:CostOfRevenue,
  technology and development on Expenses:ResearchAndDevelopment, and sales
  and marketing and general and administrative as two labeled postings on
  Expenses:SellingGeneralAdministrative. Revenue is one posting equal to
  total revenue (net revenue plus other revenue).
• Other items — restructuring, crypto asset impairment, gains and losses
  on crypto assets (held for operations and held for investment), other
  operating expense, interest expense and other (income) expense are posted
  line by line, each labeled with its filing caption, on Income:OtherNet or
  Expenses:OtherNet according to the sign of their net.
• Customer funds — customer custodial funds are
  Assets:Current:FundsHeldForClients and the matching customer custodial
  liability is Liabilities:Current:ClientFundObligations, each as the
  filing presents it and never netted.
• Safeguarding assets — the FY2022 and FY2023 filings carry customers'
  crypto on the balance sheet under SEC Staff Accounting Bulletin No. 121
  (75,413.188 and 192,583.060 MUSD, with an equal liability); they are
  recorded in Assets:Current:SafeguardingCustomerCryptoAssets and
  Liabilities:Current:SafeguardingCustomerCryptoLiabilities. Coinbase
  adopted SAB 122 retrospectively as of December 31, 2024, so both accounts
  are zero from FY2024 on. Total assets are not comparable across that line.
• Crypto and leases — Assets:Current:DigitalAssets holds USDC (through
  FY2024, before payment stablecoins were reclassified to cash equivalents)
  and, from FY2024, crypto assets held for operations, held as collateral and
  borrowed; Assets:NonCurrent:DigitalAssets holds crypto assets held (for
  investment). Assets:Current:RestrictedCash,
  Assets:NonCurrent:OperatingLeaseRightOfUse,
  Liabilities:Current:OperatingLeases and
  Liabilities:NonCurrent:OperatingLeases hold the captions of the same
  name; the lease accounts are zero once the filings stop showing them.
  Liabilities:Current:ShortTermDebt holds crypto asset borrowings,
  short-term borrowings and the current portion of long-term debt.
• Vintage — each fiscal year uses the figures of that year's own Form
  10-K as originally filed, not a later recast; a period file's banner says
  where a later filing changed a caption. The filings report in thousands of
  dollars, so amounts keep three decimals.

Analysis

• Coinbase Q2 2026 Earnings: $1.22 Billion Revenue and a $359 Million Net Loss Test the Everything Exchange Thesis — FY2026Q2

Corrections

Found a figure that does not match the filing? Email
[email protected] with the period, the account
and the filing page. Corrections are committed with the source cited.

• 2026-10-06 — every period, FY2021 through FY2026Q2, was rebuilt from the
  Form 10-K and Form 10-Q filings. The earlier files carried cost of revenue,
  R&D and SG&A lines that were fixed shares of revenue and balance sheets that
  matched no filing; none of those figures came from a filing.

About Open Ledger

Open Ledger is a growing library of public-company financial statements
published as plain-text accounting at
beancount.io/ledger — git-versioned, diffable
across companies, and auditable against primary filings. Read the analysis
behind the numbers on the beancount.io blog.

Disclaimer

This ledger is an independent reconstruction of Coinbase Global, Inc.'s publicly filed
financial statements, provided for educational and informational purposes
only. It is not investment, financial, legal, tax, or accounting advice, and
is not an offer or recommendation to buy or sell any security. Beancount.io is
not affiliated with, endorsed by, or sponsored by Coinbase Global, Inc.; all trademarks
belong to their respective owners. Figures may contain errors, omissions, or
simplifications and may lag the latest filings — the company's own regulatory
filings are the authoritative source. Provided "as is" without warranty of any
kind; use at your own risk.