Coinbase Global (COIN) Research & Development (2020 - 2026)
Coinbase Global (COIN) reported Research & Development of $195.9 million for Q1 2026, down 44.89% year-over-year from $355.4 million in Q1 2025, and down 77.46% on a QoQ basis from $869.0 million in Q4 2025.
Coinbase Global (COIN) has 7 years of Research & Development data on file, last reported at $195.9 million in Q1 2026.
- Quarterly Research & Development fell 44.89% year-over-year to $195.9 million in Q1 2026, while the trailing twelve-month figure through Mar 2026 was $1.9 billion (up 173.04% YoY) and the FY2025 annual result came in at $1.7 billion, up 86.1% from the prior year.
- Research & Development eased to $195.9 million in Q1 2026 per COIN's latest filing, from $869.0 million in the prior quarter.
- Across five years, Research & Development topped out at $1.0 billion in Q4 2023 and bottomed at -$201.9 million in Q4 2024.
- The 5-year median for Research & Development is $358.0 million (2023), against an average of $381.2 million.
- The widest annual swing landed in 2024, when Research & Development tumbled 119.61%; it then soared 530.51% in 2025.
- Tracing COIN's Research & Development over 5 years: stood at $590.1 million in 2022, then surged by 74.44% to $1.0 billion in 2023, then slumped by 119.61% to -$201.9 million in 2024, then soared by 530.51% to $869.0 million in 2025, then sank by 77.46% to $195.9 million in 2026.
- Per Business Quant, the three latest COIN Research & Development figures stand at $195.9 million (Q1 2026), $869.0 million (Q4 2025), and $430.6 million (Q3 2025).
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | R&D (Qtr) |
|---|---|---|---|---|---|
| 1 | S&P Global | 126.06 Bn | 129.16 Bn | 2.94 Bn | - |
| 2 | Cme | 98.29 Bn | 98.29 Bn | 1.83 Bn | 76.60 Mn |
| 3 | Intercontinental Exchange | 83.83 Bn | 82.37 Bn | - | 238.00 Mn |
| 4 | Moodys | 80.13 Bn | 78.77 Bn | 1.55 Bn | - |
| 5 | Nasdaq | 52.44 Bn | 51.76 Bn | 1.41 Bn | 84.00 Mn |
| 6 | Coinbase Global | 50.05 Bn | 49.52 Bn | 1.33 Bn | 195.86 Mn |
| 7 | Msci | 46.28 Bn | 45.89 Bn | 765.10 Mn | 49.60 Mn |
| 8 | Cboe Global Markets | 34.92 Bn | 32.75 Bn | 728.90 Mn | 27.60 Mn |
| 9 | TransUnion | 13.79 Bn | 13.22 Bn | 726.20 Mn | - |
| 10 | Factset Research Systems | 9.06 Bn | 8.78 Bn | 314.28 Mn | - |
Historic Data
Download Data| Date | Value |
|---|---|
| Mar 31, 2026 | 195.86 Mn |
| Dec 31, 2025 | 869.00 Mn |
| Sep 30, 2025 | 430.59 Mn |
| Jun 30, 2025 | 387.32 Mn |
| Mar 31, 2025 | 355.37 Mn |
| Dec 31, 2024 | -201.85 Mn |
| Sep 30, 2024 | 171.78 Mn |
| Jun 30, 2024 | 364.26 Mn |
| Mar 31, 2024 | 217.41 Mn |
| Dec 31, 2023 | 1.03 Bn |
| Sep 30, 2023 | 322.76 Mn |
| Jun 30, 2023 | 108.20 Mn |
| Mar 31, 2023 | 358.03 Mn |
| Dec 31, 2022 | 590.10 Mn |
| Sep 30, 2022 | 101.88 Mn |
| Jun 30, 2022 | 609.25 Mn |
| Mar 31, 2022 | 570.66 Mn |
| Dec 31, 2021 | 524.82 Mn |
| Sep 30, 2021 | 197.25 Mn |
| Jun 30, 2021 | 291.46 Mn |
| Mar 31, 2021 | 184.23 Mn |
| Dec 31, 2020 | 49.95 Mn |
| Sep 30, 2020 | 36.77 Mn |
| Jun 30, 2020 | 23.40 Mn |
| Mar 31, 2020 | 25.41 Mn |