Coinbase Global (COIN) Operating Expenses (2020 - 2026)
Coinbase Global's (COIN) quarterly Operating Expenses came in at $1.3 billion in Q2 2026, down 12.37% year-over-year from $1.5 billion in Q2 2025, and down 7.03% quarter-over-quarter from $1.4 billion in Q1 2026.
Analysis
Coinbase Global (COIN) Operating Expenses (2020 - 2026) Analysis & Trends
Coinbase Global (COIN) has reported Operating Expenses for 7 consecutive years, with $1.3 billion the latest figure, recorded in Q2 2026.
- On a quarterly basis, Operating Expenses fell 12.37% year-over-year to $1.3 billion in Q2 2026; TTM through Jun 2026 was $5.7 billion, a 10.54% increase from a year earlier, with the FY2025 full-year figure at $5.7 billion, up 34.98% from the prior year.
- Operating Expenses was $1.3 billion for Q2 2026 at Coinbase Global, down from $1.4 billion in the prior quarter.
- Over five years, Operating Expenses peaked at $1.9 billion in Q2 2022 and troughed at $754.0 million in Q3 2023.
- A 5-year average of $1.2 billion and a median of $1.2 billion in 2022 frame the typical range for Operating Expenses.
- Across the five-year window, Operating Expenses surged 111.57% in 2022 and sank 57.82% in 2023, its largest moves.
- Over 5 years, Operating Expenses stood at $1.2 billion in 2022, then dropped by 29.21% to $838.2 million in 2023, then jumped by 47.65% to $1.2 billion in 2024, then gained by 21.8% to $1.5 billion in 2025, then declined by 11.53% to $1.3 billion in 2026.
- The last three Operating Expenses figures came in at $1.3 billion (Q2 2026), $1.4 billion (Q1 2026), and $1.5 billion (Q4 2025), per Business Quant data.
Peer Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Opex (Qtr) |
|---|---|---|---|---|---|
| 1 | Coinbase Global | 45.40 Bn | 36.62 Bn | 1.16 Bn | 1.33 Bn |
| 2 | Bullish | 4.32 Bn | 4.21 Bn | 15.53 Mn | -56.27 Mn |
| 3 | Canton Strategic Holdings | 465.18 Mn | 465.18 Mn | - | 2.70 Mn |
| 4 | Cypherpunk Technologies | 406.44 Mn | 406.44 Mn | - | 4.69 Mn |
| 5 | Coincheck | 268.46 Mn | 166.86 Mn | 11.20 Mn | 711.50 Mn |
| 6 | Wewards | 214.97 Mn | 214.97 Mn | - | 14,393.00 |
| 7 | Usbc | 178.08 Mn | 174.42 Mn | - | 28.10 Mn |
| 8 | Universal Token | 174.68 Mn | 174.68 Mn | - | 17,725.00 |
| 9 | TON Strategy | 173.75 Mn | 173.73 Mn | - | - |
| 10 | Streamex | 123.26 Mn | 104.79 Mn | - | 15.31 Mn |
Historic Data
Download Data
Historic Data
| Date | Value |
|---|---|
| Jun 30, 2026 | 1.33 Bn |
| Mar 31, 2026 | 1.43 Bn |
| Dec 31, 2025 | 1.51 Bn |
| Sep 30, 2025 | 1.39 Bn |
| Jun 30, 2025 | 1.52 Bn |
| Mar 31, 2025 | 1.33 Bn |
| Dec 31, 2024 | 1.24 Bn |
| Sep 30, 2024 | 1.04 Bn |
| Jun 30, 2024 | 1.11 Bn |
| Mar 31, 2024 | 877.11 Mn |
| Dec 31, 2023 | 838.18 Mn |
| Sep 30, 2023 | 753.97 Mn |
| Jun 30, 2023 | 781.49 Mn |
| Mar 31, 2023 | 896.40 Mn |
| Dec 31, 2022 | 1.18 Bn |
| Sep 30, 2022 | 1.15 Bn |
| Jun 30, 2022 | 1.85 Bn |
| Mar 31, 2022 | 1.72 Bn |
| Dec 31, 2021 | 1.58 Bn |
| Sep 30, 2021 | 1.02 Bn |