Earnings Releases·Oct 29, 2026, 4:09 PM ET

Coinbase — Q3 2026 Earnings Summary

**Financial Results:** Total revenue was $1.2 billion (flat Q/Q, down 35% Y/Y), while net income surged 66% Y/Y and 300% Q/Q to $719 million; adjusted expenses came in below guidance at $975 million.
**Guidance Updates:** Full-year 2026 adjusted expenses guidance was reduced and narrowed to $4,200–$4,450 million; Q4 2026 adjusted expenses are guided to $1,007–$1,157 million.
**Capital Returns:** The company repurchased 10.2 million Class A shares for over $2 billion, leaving $2 billion in remaining authorization, with 85% of SBC issuance offset by buybacks since Q4 2024.
**Strategic Progress:** Completed INTX/Deribit integration for a unified exchange, achieved 10.7% crypto trading market share (4th consecutive quarter of growth), and maintained 15 consecutive quarters of positive adjusted EBITDA.
**Balance Sheet Strength:** Cash and equivalents totaled $8.6 billion, with total available resources reaching $11 billion, including $2.4 billion in crypto and marketable investments.