Coinbase Global, Inc. (COIN) Reports Q4 Adjusted EPS of 66 cents Compared to the 86 cents Estimate

Group 1 - Coinbase Global, Inc. reported fourth-quarter adjusted profits per share of $0.66, which was below the consensus estimate of $0.86, and sales of $1.78 billion, falling short of the projected $1.83 billion [3][7] - Management indicated that 2025 was a financially and operationally successful year, with the company meeting or exceeding quarterly sales and spending expectations, while also growing and diversifying its activities [3] - The company introduced the Everything Exchange and sustained multi-year profitability, with management stating that greater regulatory clarity could help it prosper as cryptocurrency transforms financial services [3] Group 2 - For the first quarter, Coinbase forecasted subscription and services revenue between $550 million and $630 million, reflecting lower average USDC market capitalization, interest rates, cryptocurrency prices, and staking protocol rates compared to Q4 [4] - Technology and development expenses, as well as general and administrative costs, are expected to be between $925 million and $975 million, remaining consistent quarter after quarter [4] - Sales and marketing expenses are projected to range between $215 million and $315 million, depending on marketing potential and average USDC balances retained in products [4] Group 3 - Coinbase provides a reliable platform that acts as a legal gateway to the on-chain economy, allowing users to perform various tasks with their cryptocurrency assets through both third-party and proprietary product experiences [5]