Coinbase Global, Inc. · Q4 2025
ReportedFeb 13, 2026
Period endedDec 31, 2025
Rule of 40n/m
The quarter in short
Revenue $1.78B, down 21.6% year over year and 4.7% on the quarter. EPS −$2.49. Free cash flow $3.06B, up 217.6% year over year.
Reported this quarter
Revenue
$1.78B
QoQ −4.7%
YoY −21.6%
EPS
−$2.49
QoQ —
YoY —
Free Cash Flow
$3.06B
QoQ —
YoY +217.6%
Gross Margin
87.2%
QoQ +1.3 pp
YoY +1.6 pp
FCF Margin
172.1%
QoQ +214.1 pp
YoY +129.6 pp
P/E Ratio
51.5
QoQ +76.4%
YoY +97.3%
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Earnings press release
Investor relations announcement
SEC filings
Filed with the SEC under CIK 1679788.
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8-K results announcement
Filed Feb 12, 2026
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Press release (EX-99.1)
Exhibit 99.1 to the 8-K
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Period ended Dec 31, 2025, filed Feb 12, 2026
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