COIN

Coinbase Global, Inc.

Quarterly revenue, EPS, free cash flow, valuation, and Rule of 40 scores for Coinbase Global, Inc..

R40: 157$51.69B

$177.05-6.89 (-3.75%)● Live

Current Narrative

Coinbase is firing on all cylinders. Q4 2025 earnings crushed estimates with $2.8B revenue, driven by record trading volume and institutional inflows. The company's pivot beyond trading is paying off — Base L2 hit 10M daily users with transaction fees up 300% YoY, while custody assets from Bitcoin ETFs crossed $50B. Full MiCA approval opens Europe wide. Bulls see COIN as the only pure-play proxy for crypto adoption; bears warn of stretched valuations (45x forward earnings) and cycle peak risks. The narrative has shifted from survival to growth mode.

News

Latest Coverage

NewsFeb 17

Coinbase Lost $667M Last Quarter. The Stock Rallied 16%.

Coinbase missed on revenue and earnings, posted its first loss in two years, and the stock had its best day in months. Here's what Wall Street sees that the headline doesn't show.

R40

NewsFeb 9

Robinhood's February Dip: Gift or Trap? HOOD Surges 14% After Crypto-Driven Selloff

HOOD dropped to $85 on crypto fears, then ripped 14% in a single day. With earnings tomorrow and a fresh $125 price target from Wolfe, was the dip unmissable?

R40

See all news →

Rule of 402025 Q4

157.1

✓ Passing

Revenue Growth YoY-22.2%

FCF Margin+179.2%

History

142

143

187

2024 R40 +156

157

2025 R40 +45

ANALYST RATINGS

Buy$337

COIN

Neutral$120

Downgrade

2026-02-12

Neutral$240

Initiated

2026-01-28

Overweight$277

Resumed

2026-01-27

Buy$340

Upgrade

2026-01-08

Buy$303

Upgrade

2026-01-05

Company timeline

Earnings release dates

Quarter	End date	Publication date	Source
2025 Q4	2025-12-31	2026-02-13	Link
2025 Q3	2025-09-30	2025-10-30	Link
2025 Q2	2025-06-30	2025-08-01	Link
2025 Q1	2025-03-31	2025-05-08	Link
2024 Q4	2024-12-31	2025-02-13	Link
2024 Q3	2024-09-30	2024-10-30	Link

Background

Company History

ExchangeNASDAQ

IPO DateApr 14, 2021

Shares Outstanding291.96Mi

2012

Founding by Brian Armstrong

Launches as simple Bitcoin buying platform, establishing early brand trust amid nascent crypto industry.

2017

Crypto Boom and Unicorn Status

Trading volume explodes during ICO mania; raises funding at $8B valuation, cementing position as leading U.S. exchange.

2021

Direct Listing IPO at $381 Reference Price

Debuts with $99B market cap peak, symbolizing crypto

2021

All-Time High Near $357/Share

Rides Bitcoin/Ethereum bull run to $85B+ valuation, narrative of inevitable mainstream adoption.

2022

Crypto Winter Crash and Layoffs

Stock plunges below $40 (-90%), multiple rounds of layoffs; shifts narrative to survival and cost discipline amid FTX collapse fallout.

2023

SEC Lawsuit Filed

Accused of operating unregistered exchange/securities; intensifies regulatory overhang and bearish sentiment.

2023

Launch of Base Layer-2 and International Push

Diversifies revenue beyond U.S. spot trading; Base becomes top L2 by activity, signaling infrastructure evolution.

2024

Spot Bitcoin ETF Approval and Partial Legal Wins

Selected as custodian for major ETFs; court rulings favor Coinbase on some SEC claims, sparking massive stock rebound (+400% from lows).

2025

Pro-Crypto Political Shift and Bitcoin ATH Cycle

U.S. policy tailwinds post-election drive trading volumes to records; stock surges past prior highs, reframing Coinbase as mature, regulated crypto leader.

Leadership