Coinbase Q3 FY24: where the revenue came from and where it went
The whole income statement of Coinbase for this quarter, as one diagram: what earned the revenue, and what it went on.
- Period
- Jul 1 – Sep 30, 2024
- Reported
- Oct 30, 2024
Revenue$1.21B
+79% year over year
Gross profit$1.04B
86% margin
Operating profit$0.17B
14% margin
Net profit$0.08B
6% margin
The numbers
| Item | Value | Share of revenue | Year over year |
|---|---|---|---|
| Revenue | 1.21 | 100% | +79% |
| Subscription & circulation | 0.56 | 46% | |
| Consumer net | 0.48 | 40% | |
| Other | 0.08 | 6% | |
| Institutional | 0.06 | 5% | |
| Bank other | 0.03 | 3% | |
| Cost of revenue | −0.16 | 14% | |
| Gross profit | 1.04 | 86% margin | +1pp |
| R&D | −0.38 | 31% | −17pp |
| Sales & marketing | −0.17 | 14% | +2pp |
| G&A | −0.33 | 27% | −10pp |
| Operating profit | 0.17 | 14% margin | +26pp |
| Interest & other costs | −0.10 | ||
| Tax benefit | 0.01 | ||
| Net profit | 0.08 | 6% margin | +7pp |
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