Coinbase Global (COIN) Operating Expenses (2020 - 2026)
Coinbase Global (COIN) posted quarterly Operating Expenses of $1.3 billion for 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.
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.
- In Q2 2026, Operating Expenses fell 12.37% year-over-year to $1.3 billion; the TTM figure through Jun 2026 stood at $5.7 billion (up 10.54% YoY), while the FY2025 annual figure was $5.7 billion, up 34.98% from the prior year.
- Operating Expenses slipped to $1.3 billion in Q2 2026 per COIN's latest filing, from $1.4 billion in the prior quarter.
- Across five years, Operating Expenses topped out at $1.9 billion in Q2 2022 and bottomed at $754.0 million in Q3 2023.
- Historically, Operating Expenses has averaged $1.2 billion across 5 years, with a median of $1.2 billion in 2022.
- Annual changes were most pronounced in 2022 — Operating Expenses soared 111.57% — and 2023, when it plunged 57.82%.
- Coinbase Global's Operating Expenses stood at $1.2 billion in 2022, then fell by 29.21% to $838.2 million in 2023, then soared by 47.65% to $1.2 billion in 2024, then climbed by 21.8% to $1.5 billion in 2025, then retreated by 11.53% to $1.3 billion in 2026.
- Business Quant data shows COIN's Operating Expenses at $1.3 billion in Q2 2026, $1.4 billion in Q1 2026, and $1.5 billion in Q4 2025.
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Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Opex (Qtr) |
|---|---|---|---|---|---|
| 1 | S&P Global | 127.56 Bn | 123.42 Bn | 2.98 Bn | 2.35 Bn |
| 2 | Cme | 98.95 Bn | 98.95 Bn | 1.65 Bn | 599.10 Mn |
| 3 | Intercontinental Exchange | 91.20 Bn | 89.25 Bn | - | 1.28 Bn |
| 4 | Moodys | 87.73 Bn | 86.23 Bn | 1.67 Bn | 1.14 Bn |
| 5 | Nasdaq | 55.41 Bn | 54.69 Bn | 1.50 Bn | 788.00 Mn |
| 6 | Coinbase Global | 49.87 Bn | 41.08 Bn | 1.16 Bn | 1.33 Bn |
| 7 | Msci | 41.29 Bn | 40.93 Bn | 717.10 Mn | 379.50 Mn |
| 8 | Cboe Global Markets | 31.45 Bn | 29.06 Bn | 731.60 Mn | 255.60 Mn |
| 9 | TransUnion | 16.53 Bn | 15.69 Bn | 765.00 Mn | 1.05 Bn |
| 10 | Factset Research Systems | 10.89 Bn | 10.58 Bn | 310.73 Mn | 456.62 Mn |
Historic Data
Download 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 |