Filing Flows › Coinbase Global (COIN) › Q1 2026
Coinbase Global (COIN) Q1 2026 earnings results (first quarter 2026)
10-Q filed May 7, 2026
Coinbase Global (COIN) reported revenue of $1.4B for the first quarter 2026 (Q1 2026), -31% from a year earlier and -21% from the quarter before. Operating margin was -1.5%, net loss $394M (27.9% of revenue).
Coinbase Global, Q1 2026: revenue $1.4B (-30% year over year), operating margin -1.5%, net loss $394M, operating cash flow $183M. The chart follows the revenue to costs, profit and cash.
| Q1 2026 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $1.4B | -21% | -31% |
| Operating profit | −$21.4M | -108% | -103% |
| Net earnings | −$394M | — | -701% |
| Operating cash flow | $183M | -94% | -79% |
What changed
Revenue was $1.4B in Q1 2026, down 31% year over year and down 21% from the previous quarter. Subscription and Circulation was the largest line at 41% of revenue. Consumer, net lost $0.53B year over year (down 48%), 85% of the total change.
Operating costs exceeded revenue by $0.02B, an operating margin of -1.5%. Total costs grew 8% against a revenue fall of 31%. The fastest-growing cost line was Research & development (+48%). The quarter ended with a net loss of $0.39B, narrower than the previous quarter's $0.67B loss. Net interest and other expense of $0.44B was the main reason.
Operating cash flow was $0.18B (down 79% year over year). Non-cash charges added back $0.07B of depreciation and amortization and $0.25B of share-based compensation. Working capital and other items added $0.26B.
Questions
What was Coinbase Global's revenue in the first quarter 2026?
Coinbase Global (COIN) reported revenue of $1.4B for the first quarter 2026 (Q1 2026), -31% from a year earlier and -21% from the quarter before.
Was Coinbase Global profitable in the first quarter 2026?
Operating loss was $21.4M (-1.5% of revenue) and net loss $394M.
Source: Coinbase Global 10-Q on SEC EDGAR.