Coinbase Global (COIN) Operating Expenses (2020 - 2026)
Coinbase Global's Operating Expenses came in at $1.33 billion for Q2 2026, down 12.4% from $1.52 billion a year earlier and down 7.0% from the prior quarter.
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Analysis
Coinbase Global (COIN) Operating Expenses (2020 - 2026) Analysis & Trends
Over the trailing twelve months to Jun 30, 2026, Coinbase Global reported Operating Expenses of $5.66 billion, up 10.5% year-over-year; for FY2025, it was $5.75 billion, up 35.0% from FY2024.
- Operating Expenses carries a five-year compound annual growth rate of 45.9% (FY2020 to FY2025).
- Going back by year, Operating Expenses was $4.26 billion in FY2024 (+30.2%), $3.27 billion in FY2023 (-44.6%), $5.9 billion in FY2022 (+24.0%) and $4.76 billion in FY2021 (+448.4%).
- The Q2 2026 figure represents the lowest quarterly Operating Expenses since Q1 2025.
- Year-over-year, Operating Expenses increased in seven of the last eight quarters, with growth averaging 28.2%.
- The fastest year-over-year change in Operating Expenses over five years came in Q3 2021 (growth of 377.0%), and the weakest in Q2 2023 (a decline of 57.8%).
- Business Quant data shows COIN's Operating Expenses at $1.43 billion (Q1 2026), $1.51 billion (Q4 2025) and $1.39 billion (Q3 2025) in the three quarters before Q2 2026.
Peer Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Opex (Qtr) |
|---|---|---|---|---|---|
| 1 | Coinbase Global | 49.17 Bn | 5.98 Bn | - | 1.33 Bn |
| 2 | PayPal Holdings | 45.28 Bn | 3.51 Bn | - | 7.26 Bn |
| 3 | Block | 44.18 Bn | 15.44 Bn | 3.17 Bn | 2.72 Bn |
| 4 | Iren | 31.11 Bn | 18.70 Bn | 103.89 Mn | 128.25 Mn |
| 5 | Corpay | 25.52 Bn | 15.72 Bn | - | 260.40 Mn |
| 6 | Fiserv | 24.03 Bn | 20.73 Bn | 2.90 Bn | 4.28 Bn |
| 7 | Global Payments | 21.72 Bn | 155.29 Mn | 2.03 Bn | 2.98 Bn |
| 8 | Bitmine Immersion Technologies | 15.32 Bn | 12.70 Bn | 40.81 Mn | 52.67 Mn |
| 9 | Guidewire Software | 11.69 Bn | 8.26 Bn | 269.68 Mn | 207.36 Mn |
| 10 | Hut 8 | 10.61 Bn | 10.45 Bn | 48.04 Mn | 76.08 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 |
API Access
Coinbase Global Operating Expenses API
Pull this series into your own models, spreadsheets and apps with the Business Quant
Historical Metrics API. The request below matches the chart above — change the
frequency, period or values and it follows. Swap YOUR_API_KEY for your own key.
https://data.businessquant.com/historic?slug=operating-expenses&ticker=COIN&period=max&api_key=YOUR_API_KEYimport requests
url = "https://data.businessquant.com/historic"
params = {"slug": "operating-expenses", "ticker": "COIN", "period": "max", "api_key": "YOUR_API_KEY"}
data = requests.get(url, params=params).json()const res = await fetch("https://data.businessquant.com/historic?slug=operating-expenses&ticker=COIN&period=max&api_key=YOUR_API_KEY");
const data = await res.json();