Coinbase Q4 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
- Oct 1 – Dec 31, 2024
- Reported
- Feb 13, 2025
Revenue$2.27B
+138% year over year
Gross profit$1.99B
88% margin
Operating profit$1.03B
46% margin
Net profit$1.31B
58% margin
Net profit is larger than what operations earned, because the statement adds $0.48B below it, under Other income, net.
The numbers
| Item | Value | Share of revenue | Year over year |
|---|---|---|---|
| Revenue | 2.27 | 100% | +138% |
| Stablecoin | 0.91 | 40% | |
| Institutional, net | 0.35 | 15% | |
| Other subscription & | 0.28 | 13% | |
| Other revenue | 0.27 | 12% | |
| Other transaction | 0.21 | 9% | |
| Custodial fee | 0.14 | 6% | |
| Other | 0.11 | 5% | |
| Cost of revenue | −0.28 | 12% | |
| Gross profit | 1.99 | 88% margin | −2pp |
| R&D | −0.37 | 16% | −18pp |
| Sales & marketing | −0.23 | 10% | −1pp |
| G&A | −0.36 | 16% | −17pp |
| Operating profit | 1.03 | 46% margin | +33pp |
| Other income, net | 0.48 | ||
| Tax | −0.21 | ||
| Net profit | 1.31 | 58% margin | +29pp |
417 of 418 companies, most recently reported first
New results in your inbox
When a big company reports, we send you a link to its diagram before anyone has time to comment on it. This is a mailing list, not an account: it does not open the diagrams by itself. No spam, one-click unsubscribe.
Drag or use the arrow keys to see the rest