NASDAQ$COIN
Coinbase Global Inc · Q2 2021 earnings
Q2 2021 earnings · · Investor relations
Briefing
Coinbase experienced strong growth and diversification in Q2 2021.
Coinbase had a strong Q2 2021, with significant growth in retail MTUs, trading volume, and assets on the platform. The company generated $2.0 billion in net revenue and $1.6 billion in net income, driven by a strong crypto market environment and increased user engagement.
- Retail Monthly Transacting Users (MTUs) grew to 8.8 million, up 44% from Q1 2021.
- Net revenue reached $2.0 billion, including $1.9 billion in transaction revenue.
- Net income was $1.6 billion and Adjusted EBITDA was $1.1 billion.
- Institutional Trading Volume was $317 billion, an increase of 47% compared to Q1.
Headline financials
Revenue & EPS history
Coinbase · Revenue · Quarterly
$2.23B
Revenue by segment
Coinbase · $317M total across 2 segments · Q3 2023
- Interest and Finance Fee Income$243M+138.2%76.5%
- Blockchain Rewards$74.5M+18.6%23.5%
Forward guidance
Coinbase anticipates volatility in the crypto industry will persist in the near term, resulting in unpredictable quarterly financial results. They are focused on long-term execution and believe products like DeFi will be used by mainstream customers and institutions soon.
Tailwinds
- Continue to deliver consistent platform performance.
- Bring more assets to Coinbase faster.
- Ship more products in international markets.
- Integrate with third-party interfaces and self-custody.
- Scale to match industry growth.
Headwinds
- MTUs can fluctuate with crypto asset prices and volatility.
- Trading Volume can fluctuate with crypto asset prices and volatility.
- Transaction revenue can fluctuate with crypto asset prices and volatility.
- Regulatory clarity remains slow to come.
- Business is inherently unpredictable.
Historical earnings impact
How earnings announcements have historically affected this stock's price.
Avg. return before/after earnings
Based on 20 quarterly earnings reports · overlaid with Q2 2021
-2.8%
Avg return
Earnings day
-2.0%
Avg return
5 days after
-1.3%
Avg return
30 days after
32%
8 / 25 earnings
Positive
+20.1%
Q1 2023
Best reaction
-35.7%
Q1 2022
Worst reaction
| Quarter | Report date | Reaction (Day 0) | +5 days | +30 days |
|---|---|---|---|---|
| Q1 2026 | +0.1% | +4.6% | -21.0% | |
| Q4 2025 | +16.5% | +16.3% | +38.6% | |
| Q3 2025 | -2.2% | -2.8% | -17.0% | |
| Q2 2025 | -16.7% | -19.6% | -19.4% | |
| Q1 2025 | -3.6% | +27.6% | +21.7% | |
| Q4 2024 | -8.0% | -13.2% | -38.6% | |
| Q3 2024 | -18.4% | -15.2% | +34.8% | |
| Q2 2024 | -8.9% | -13.5% | -18.3% | |
| Q1 2024 | +6.3% | +2.0% | +7.5% | |
| Q4 2023 | +12.4% | +8.1% | +51.1% | |
| Q3 2023 | +10.3% | +14.5% | +71.9% | |
| Q2 2023 | -3.5% | -2.6% | -13.8% | |
| Q1 2023 | +20.1% | +24.2% | +33.1% | |
| Q4 2022 | -6.2% | -10.4% | +1.7% | |
| Q3 2022 | -3.1% | -16.3% | -21.5% | |
| Q2 2022 | -4.0% | -7.7% | -25.4% | |
| Q1 2022 | -35.7% | -18.7% | -23.6% | |
| Q4 2019 | +6.2% | +8.3% | +4.0% | |
| Q4 2021 | +2.4% | +13.6% | +8.1% | |
| Q3 2020 | -5.9% | -3.4% | -28.4% | |
| Q3 2021 | -7.2% | -3.1% | -25.4% | |
| Q2 2020 | -4.9% | -4.8% | -7.9% | |
| Q2 2021 | -0.7% | -6.9% | -8.6% | |
| Q4 2020 | -6.4% | -15.2% | -15.5% | |
| Q1 2021 | -8.9% | -15.7% | -21.0% | |
| Q1 2020 | — | — | — | |
| Q3 2019 | — | — | — | |
| Q2 2019 | — | — | — | |
| Q1 2019 | — | — | — |
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