Income Statement Coinbase Global, Inc.

Equities

COIN

US19260Q1076

Blockchain & Cryptocurrency

Market Closed - Nasdaq Other stock markets 21:00:00 20/09/2024 BST			After market 00:42:15
170.09 ^USD	+1.10%		169.65	-0.26%

09-19	Stocks in motion: Fed rate cut boosts crypto companies
09-19	US-listed crypto stocks jump after bumper rate cut from Fed	RE

ad6242e.RriCJ3oYzEG7YcUGurnmgnhMsECwz8qykfdznRMoXpg.H4vOCjBrjXPcUJNszNiFwDV61gn-4p7Bx68j8kZyBtAz7PoVSiCbKulVrg

Published financial data: COINBASE GLOBAL, INC.

Annual

Quarterly

Halfyear

YTD

LTM

Fiscal Period: December	2019	2020	2021	2022	2023
Revenues	483M	1.14B	7.35B	3.15B	2.93B
Other Revenues, Total	39.86M	134M	483M	625K	16K
Total Revenues	523M	1.27B	7.84B	3.15B	2.93B
Cost of Goods Sold, Total	82.06M	136M	1.27B	630M	421M
Gross Profit	441M	1.14B	6.57B	2.52B	2.51B
Selling General & Admin Expenses, Total	281M	333M	1.57B	2.11B	1.37B
R&D Expenses	160M	272M	1.29B	2.33B	1.32B
Other Operating Expenses	46.2M	125M	510M	770M	24.96M
Other Operating Expenses, Total	487M	730M	3.37B	5.2B	2.72B
Operating Income	-46.57M	410M	3.2B	-2.68B	-214M
Interest Expense, Total	-	-	-29.2M	-88.9M	-82.77M
Interest And Investment Income	10.92M	2.63M	2.14M	44.77M	182M
Net Interest Expenses	10.92M	2.63M	-27.06M	-44.13M	99.06M
Currency Exchange Gains (Loss)	3.11M	-1.06M	-41.5M	-103M	-10.61M
Other Non Operating Income (Expenses)	-2.49M	445K	-6.92M	-70.96M	21.37M
EBT, Excl. Unusual Items	-35.03M	412M	3.13B	-2.9B	-104M
Restructuring Charges	-10.14M	-	-	-40.7M	-143M
Merger & Related Restructuring Charges	-	-	-8M	-4.1M	-2.6M
Gain (Loss) On Sale Of Investments	-246K	860K	27.07M	-100M	74.55M
Asset Writedown	-	-	-120M	-26.52M	-18.79M
Other Unusual Items	-	-3.28M	924K	8.31M	117M
EBT, Incl. Unusual Items	-45.42M	409M	3.03B	-3.06B	-76.84M
Income Tax Expense	-15.03M	86.88M	-597M	-440M	-172M
Earnings From Continuing Operations	-30.39M	322M	3.62B	-2.62B	94.87M
Net Income to Company	-30.39M	322M	3.62B	-2.62B	94.87M
Net Income - (IS)	-30.39M	322M	3.62B	-2.62B	94.87M
Preferred Dividend and Other Adjustments	-	214M	527M	-	119K
Net Income to Common Incl Extra Items	-30.39M	108M	3.1B	-2.62B	94.75M
Net Income to Common Excl. Extra Items	-30.39M	108M	3.1B	-2.62B	94.75M
Per Share Items
Net EPS - Basic	-0.5	1.58	17.47	-11.81	0.4
Basic EPS - Continuing Operations	-0.5	1.58	17.47	-11.81	0.4
Basic Weighted Average Shares Outstanding	61.32M	68.67M	177M	222M	236M
Net EPS - Diluted	-0.5	1.4	14.5	-11.83	0.37
Diluted EPS - Continuing Operations	-0.5	1.4	14.5	-11.83	0.37
Diluted Weighted Average Shares Outstanding	61.32M	91.21M	220M	222M	254M
Normalized Basic EPS	-0.36	3.75	11.02	-8.16	-0.28
Normalized Diluted EPS	-0.36	2.82	8.88	-8.16	-0.26
Supplemental Items
EBITDA	-29.69M	441M	3.27B	-2.53B	-74.54M
EBITA	-36.87M	426M	3.25B	-2.58B	-145M
EBIT	-46.57M	410M	3.2B	-2.68B	-214M
EBITDAR	-9.24M	465M	3.29B	-2.5B	-29.8M
Total Revenues (As Reported)	534M	1.28B	7.84B	3.19B	3.11B
Effective Tax Rate - (Ratio)	33.09	21.23	-19.73	14.35	223.46
Current Domestic Taxes	1.41M	83.43M	-47.49M	5.64M	33M
Current Foreign Taxes	4.28M	2.98M	8.64M	22.76M	11.62M
Total Current Taxes	5.69M	86.41M	-38.84M	28.4M	44.62M
Deferred Domestic Taxes	-21.02M	859K	-533M	-488M	-218M
Deferred Foreign Taxes	295K	-385K	-25.56M	19.73M	1.42M
Total Deferred Taxes	-20.72M	474K	-558M	-468M	-216M
Normalized Net Income	-21.89M	257M	1.95B	-1.81B	-65.22M
Interest on Long-Term Debt	-	-	29.16M	85.89M	82.69M
Supplemental Operating Expense Items
Selling and Marketing Expenses	23.27M	56.78M	664M	510M	332M
General and Administrative Expenses	258M	277M	867M	1.56B	994M
Research And Development Expense From Footnotes	160M	272M	1.29B	2.33B	1.32B
Net Rental Expense, Total	20.45M	23.99M	27.75M	32.13M	44.73M
Imputed Operating Lease Interest Expense	-	-	3.02M	6.03M	8.84M
Imputed Operating Lease Depreciation	-	-	24.73M	26.1M	35.89M
Stock-Based Comp., R&D Exp. (Total)	-	36.87M	572M	1.09B	476M
Stock-Based Comp., S&M Exp. (Total)	-	1.57M	32.94M	76.15M	59M
Stock-Based Comp., G&A Exp. (Total)	-	34.19M	216M	396M	245M
Stock-Based Comp., Other (Total)	31.15M	-	-	-	84.04M
Total Stock-Based Compensation	31.15M	72.62M	821M	1.57B	865M

Fiscal Period: December	2019	2020	2021	2022	2023
Assets
Cash And Equivalents	549M	1.06B	7.12B	4.43B	5.14B
Short Term Investments	-	-	9.66M	-	-
Total Cash And Short Term Investments	549M	1.06B	7.13B	4.43B	5.14B
Accounts Receivable, Total	17.5M	161M	104M	8.43M	58.93M
Other Receivables	74.17M	21.71M	135M	272M	173M
Notes Receivable	-	6.79M	218M	184M	193M
Total Receivables	91.67M	189M	457M	465M	425M
Prepaid Expenses	21.44M	36.22M	123M	98.2M	79.55M
Restricted Cash	34.12M	30.79M	30.95M	25.87M	22.99M
Other Current Assets, Total	1.29B	3.82B	10.63B	81.43B	198B
Total Current Assets	1.99B	5.13B	18.37B	86.45B	203B
Gross Property Plant And Equipment	181M	175M	200M	326M	326M
Accumulated Depreciation	-10.41M	-24.49M	-42.25M	-85.02M	-121M
Net Property Plant And Equipment	171M	150M	158M	241M	205M
Long-term Investments	17.6M	28.15M	365M	327M	343M
Goodwill	54.7M	77.21M	626M	1.07B	1.14B
Other Intangibles, Total	70.14M	60.82M	177M	135M	86.42M
Deferred Tax Assets Long-Term	29.27M	20.81M	574M	1.05B	1.27B
Other Long-Term Assets, Total	62.61M	384M	1B	453M	470M
Total Assets	2.39B	5.86B	21.27B	89.72B	207B
Liabilities
Accounts Payable, Total	5.94M	12.03M	39.83M	56.04M	39.29M
Accrued Expenses, Total	35.66M	57.39M	342M	166M	313M
Short-term Borrowings	-	271M	427M	172M	62.98M
Current Portion of Leases	23.78M	25.27M	32.37M	33.73M	10.9M
Current Income Taxes Payable	-	5.8M	4.55M	5.53M	17.37M
Other Current Liabilities	1.16B	3.88B	10.57B	80.38B	197B
Total Current Liabilities	1.22B	4.25B	11.42B	80.82B	198B
Long-Term Debt	-	-	3.38B	3.39B	2.98B
Long-Term Leases	107M	82.51M	74.08M	42.04M	3.82M
Other Non Current Liabilities	-	-	14.83M	19.53M	3.4M
Total Liabilities	1.33B	4.33B	14.89B	84.27B	201B
Preferred Stock Convertible	565M	562M	-	-	-
Total Preferred Equity	565M	562M	-	-	-
Common Stock, Total	-	-	2K	2K	2K
Additional Paid In Capital	93.82M	231M	2.03B	3.77B	4.49B
Retained Earnings	404M	726M	4.35B	1.73B	1.82B
Comprehensive Income and Other	-721K	6.26M	-3.4M	-38.61M	-30.27M
Total Common Equity	497M	964M	6.38B	5.45B	6.28B
Total Equity	1.06B	1.53B	6.38B	5.45B	6.28B
Total Liabilities And Equity	2.39B	5.86B	21.27B	89.72B	207B
Supplemental Items
ECS Total Shares Outstanding on Filing Date	66.99M	73.11M	219M	231M	242M
ECS Total Common Shares Outstanding	66.99M	73.11M	217M	231M	242M
Book Value / Share	7.42	13.18	29.39	23.63	25.95
Tangible Book Value	372M	826M	5.58B	4.25B	5.06B
Tangible Book Value Per Share	5.56	11.29	25.7	18.39	20.89
Total Debt	130M	379M	3.92B	3.64B	3.06B
Net Debt	-419M	-683M	-3.22B	-784M	-2.08B
Debt Equivalent Oper. Leases	164M	192M	222M	257M	358M
Equity Method Investments, Total	2M	2M	1.46M	-	-
Account Code - Inventory Valuation	3	3	3	3	3
Machinery, Total	6.08M	9.98M	10.85M	13.07M	2.68M
Full Time Employees	-	1.25K	3.73K	4.51K	3.42K
Accumulated Allowance for Doubtful Accounts (Supple)	4.3M	2.16M	24.55M	-	22.56M

Fiscal Period: December	2019	2020	2021	2022	2023
Net Income	-30.39M	322M	3.62B	-2.62B	94.87M
Depreciation & Amortization - CF	7.18M	14.26M	18.35M	47.97M	70.04M
Amortization of Goodwill and Intangible Assets - (CF)	9.7M	16.7M	45.3M	106M	69.6M
Depreciation & Amortization, Total	16.88M	30.96M	63.65M	154M	140M
Amortization of Deferred Charges, Total - (CF)	-	-	5.03M	9.25M	-
(Gain) Loss From Sale Of Asset	9.07M	355K	1.42M	-58K	-
(Gain) Loss on Sale of Investments - (CF)	245K	150K	-20.14M	105M	-20.75M
Asset Writedown & Restructuring Costs	2.25M	8.36M	330M	26.52M	18.79M
Stock-Based Compensation (CF)	31.15M	70.55M	821M	1.57B	865M
Other Operating Activities, Total	-9.49M	-45.52M	-928M	211M	-501M
Change In Accounts Receivable	30.7M	-157M	-8.02M	-141M	80.38M
Change In Accounts Payable	-788K	20.84M	27.33M	18.61M	954K
Change In Income Taxes	-1.91M	86.79M	-62.14M	1.91M	8.55M
Change in Other Net Operating Assets	-128M	2.67B	6.88B	-911M	236M
Cash from Operations	-80.59M	3B	10.73B	-1.59B	923M
Capital Expenditure	-88.91M	-9.91M	-2.91M	-2.93M	-
Sale of Property, Plant, and Equipment	2.29M	-	31K	83K	-
Cash Acquisitions	-5.7M	33.62M	-70.91M	-186M	-30.73M
Sale (Purchase) of Intangible assets	-6.95M	-8.89M	-82.87M	-61.04M	-63.2M
Investment in Marketable and Equity Securities, Total	-7.56M	-10.03M	-321M	-61.5M	-11.82M
Net (Increase) Decrease in Loans Originated / Sold - Investing	-	-	-212M	120M	-72.99M
Other Investing Activities, Total	1.48M	46.04M	-435M	-472M	184M
Cash from Investing	-105M	50.82M	-1.12B	-664M	5.39M
Short Term Debt Issued, Total	-	-	20M	191M	31.64M
Long-Term Debt Issued, Total	-	-	3.38B	-	-
Total Debt Issued	-	-	3.4B	191M	31.64M
Short Term Debt Repaid, Total	-	-	-	-191M	-52.12M
Long-Term Debt Repaid, Total	-	-	-	-	-304M
Total Debt Repaid	-	-	-	-191M	-356M
Issuance of Common Stock	4.35M	20.73M	237M	72.34M	64.24M
Repurchase of Common Stock	-20.96M	-1.93M	-263M	-352M	-278M
Other Financing Activities, Total	-	-	-90.13M	-5.56B	-274M
Cash from Financing	-16.6M	18.8M	3.28B	-5.84B	-811M
Foreign Exchange Rate Adjustments	-170K	-2.08M	-64.88M	-163M	8.77M
Net Change in Cash	-203M	3.07B	12.82B	-8.25B	126M
Supplemental Items
Cash Interest Paid	-	-	3.79M	82.4M	76.14M
Cash Income Tax Paid (Refund)	2.16M	62.06M	68.61M	35.89M	39.12M
Levered Free Cash Flow	-	457M	2.63B	-1.18B	1.48B
Unlevered Free Cash Flow	-	457M	2.64B	-1.13B	1.53B
Change In Net Working Capital	-	-117M	159M	1.11B	-727M
Net Debt Issued / Repaid	-	-	3.4B	-117K	-324M

Fiscal Period: December	2019	2020	2021	2022	2023
Profitability
Return on Assets	-	6.21	14.75	-3.02	-0.09
Return on Total Capital	-	16.53	32.8	-17.28	-1.45
Return On Equity %	-	24.91	91.66	-44.35	1.62
Return on Common Equity	-	14.82	84.33	-44.35	1.61
Margin Analysis
Gross Profit Margin %	84.3	89.37	83.82	80	85.62
SG&A Margin	53.75	26.15	19.97	66.89	46.85
EBITDA Margin %	-5.68	34.56	41.67	-80.32	-2.55
EBITA Margin %	-7.05	33.44	41.44	-81.84	-4.94
EBIT Margin %	-8.91	32.13	40.86	-85.21	-7.32
Income From Continuing Operations Margin %	-5.81	25.28	46.24	-83.35	3.24
Net Income Margin %	-5.81	25.28	46.24	-83.35	3.24
Net Avail. For Common Margin %	-5.81	8.49	39.52	-83.35	3.24
Normalized Net Income Margin	-4.19	20.18	24.94	-57.58	-2.23
Levered Free Cash Flow Margin	-	35.87	33.53	-37.48	50.65
Unlevered Free Cash Flow Margin	-	35.87	33.7	-36.01	52.42
Asset Turnover
Asset Turnover	-	0.31	0.58	0.06	0.02
Fixed Assets Turnover	-	7.95	50.94	15.79	13.11
Receivables Turnover (Average Receivables)	-	13.09	55.9	664.66	23.37
Short Term Liquidity
Current Ratio	1.62	1.21	1.61	1.07	1.03
Quick Ratio	0.52	0.29	0.65	0.06	0.03
Operating Cash Flow to Current Liabilities	-0.07	0.71	0.94	-0.02	0
Days Sales Outstanding (Average Receivables)	-	27.95	6.53	0.55	15.62
Average Days Payable Outstanding	-	24.27	7.46	27.78	41.36
Long Term Solvency
Total Debt/Equity	12.27	24.84	61.39	66.76	48.68
Total Debt / Total Capital	10.93	19.9	38.04	40.03	32.74
LT Debt/Equity	10.03	5.41	54.2	62.98	47.5
Long-Term Debt / Total Capital	8.94	4.33	33.58	37.77	31.95
Total Liabilities / Total Assets	55.61	73.94	70	93.92	96.97
EBIT / Interest Expense	-	-	109.67	-30.19	-2.59
EBITDA / Interest Expense	-	-	112.8	-28.09	-0.36
(EBITDA - Capex) / Interest Expense	-	-	112.7	-28.13	-0.36
Total Debt / EBITDA	-14.11	0.82	1.19	-1.46	-102.6
Net Debt / EBITDA	45.33	-1.47	-0.98	0.31	69.85
Total Debt / (EBITDA - Capex)	-1.33	0.83	1.19	-1.46	-102.6
Net Debt / (EBITDA - Capex)	4.27	-1.5	-0.98	0.31	69.85
Growth Over Prior Year
Total Revenues, 1 Yr. Growth %	-	143.85	514.76	-59.81	-7.08
Gross Profit, 1 Yr. Growth %	-	158.5	476.59	-61.65	-0.54
EBITDA, 1 Yr. Growth %	-	-1.58K	631.07	-179.4	-95.76
EBITA, 1 Yr. Growth %	-	-1.26K	650.94	-181.38	-91.99
EBIT, 1 Yr. Growth %	-	-979.62	670.2	-185.96	-88.8
Earnings From Cont. Operations, 1 Yr. Growth %	-	-1.16K	1.02K	-172.43	-103.61
Net Income, 1 Yr. Growth %	-	-1.16K	1.02K	-172.43	-103.61
Normalized Net Income, 1 Yr. Growth %	-	-1.28K	642.59	-194.91	-96.34
Diluted EPS Before Extra, 1 Yr. Growth %	-	-379.51	937.81	-181.59	-103.15
Accounts Receivable, 1 Yr. Growth %	-	1.11K	-34.89	710.18	-69.23
Net Property, Plant and Equip., 1 Yr. Growth %	-	-11.97	5.01	53.04	-14.89
Total Assets, 1 Yr. Growth %	-	144.82	263.33	321.75	130.69
Tangible Book Value, 1 Yr. Growth %	-	121.77	575.82	-23.91	19.09
Common Equity, 1 Yr. Growth %	-	93.85	562.29	-14.53	15.16
Cash From Operations, 1 Yr. Growth %	-	-3.83K	257.18	-139.26	-158.21
Capital Expenditures, 1 Yr. Growth %	-	-88.85	-70.64	0.79	-
Levered Free Cash Flow, 1 Yr. Growth %	-	-	469.84	-146.16	-310.48
Unlevered Free Cash Flow, 1 Yr. Growth %	-	-	472.71	-144.12	-336.48
Compound Annual Growth Rate Over Two Years
Total Revenues, 2 Yr. CAGR %	-	-	287.18	57.18	-38.89
Gross Profit, 2 Yr. CAGR %	-	-	286.07	48.71	-38.24
EBITDA, 2 Yr. CAGR %	-	-	991.06	140.21	-85.06
EBITA, 2 Yr. CAGR %	-	-	868.63	146.52	-79.13
EBIT, 2 Yr. CAGR %	-	-