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Growth Metrics

Coinbase Global (COIN) Cost of Revenue (2020 - 2025)

Coinbase Global (COIN) has disclosed Cost of Revenue for 6 consecutive years, with -$341.2 million as the latest value for Q4 2025.

  • Quarterly Cost of Revenue fell 87.98% to -$341.2 million in Q4 2025 from the year-ago period, while the trailing twelve-month figure was $402.6 million through Dec 2025, up 62.92% year-over-year, with the annual reading at $402.6 million for FY2025, 62.92% up from the prior year.
  • Cost of Revenue for Q4 2025 was -$341.2 million at Coinbase Global, down from $260.3 million in the prior quarter.
  • The five-year high for Cost of Revenue was $260.3 million in Q3 2025, with the low at -$341.2 million in Q4 2025.
  • Average Cost of Revenue over 5 years is $107.8 million, with a median of $112.1 million recorded in 2021.
  • The sharpest move saw Cost of Revenue skyrocketed 1619.52% in 2021, then plummeted 270.76% in 2024.
  • Over 5 years, Cost of Revenue stood at $244.6 million in 2021, then crashed by 61.93% to $93.1 million in 2022, then rose by 14.18% to $106.3 million in 2023, then tumbled by 270.76% to -$181.5 million in 2024, then tumbled by 87.98% to -$341.2 million in 2025.
  • According to Business Quant data, Cost of Revenue over the past three periods came in at -$341.2 million, $260.3 million, and $236.2 million for Q4 2025, Q3 2025, and Q2 2025 respectively.