About this content About Angela Harmantas Angela Harmantas is an Editor at Proactive. She has over 15 years of experience covering the equity markets in North America, with a particular focus on junior resource stocks. Angela has reported from numerous countries around the world, including Canada, the US, Australia, Brazil, Ghana, and South Africa for leading trade publications. Previously, she worked in investor relations and led the foreign direct investment program in Canada for the Swedish government ...

Core Viewpoint - Coinbase Global Inc. is expected to report improved financial results for the first quarter of 2025, with significant increases in both revenue and earnings compared to the previous year [1][2]. Revenue Estimates - The Zacks Consensus Estimate for Coinbase's first-quarter revenues is $2.2 million, reflecting a 33.4% increase year-over-year [1]. - The consensus estimate for transaction revenues is $1,325 million, indicating a 23% increase from the year-ago quarter [8]. - Subscription and services revenues are projected to be between $685 million and $765 million, with the consensus estimate at $707 million [10]. Earnings Estimates - The consensus estimate for earnings per share (EPS) is $2.06, which represents a year-over-year increase of 23.6 [2]. - The most accurate estimate for EPS is $1.93, resulting in an Earnings ESP of -5.23% [5]. Performance History - Coinbase has a history of beating earnings estimates, achieving this in three of the last four quarters with an average surprise of 46.15% [3]. Factors Influencing Results - Increased trading volume due to higher volatility is expected to benefit Coinbase's performance, with trading volume estimated at 404 million, a 29.4% increase year-over-year [6]. - The focus on international expansion, growth in derivatives and spot trading, and integration of USD Coin are likely to enhance revenue streams from trading fees and Stablecoins [7]. Expense Projections - Coinbase anticipates transaction expenses to be in the mid-to-high teens as a percentage of net revenues [9]. - Technology and development expenses are expected to be between $750 million and $800 million, reflecting increased variable expenses [11]. - Sales and marketing expenses are projected to be between $235 million and $375 million due to increased digital marketing spending [12]. Valuation Metrics - Coinbase's stock is trading at a price-to-earnings ratio of 22.47, which is higher than the industry's average of 15.29 [16]. Investment Thesis - The company is positioned to benefit from higher crypto asset volatility and prices, along with increased adoption of its services in a pro-crypto environment [19]. - Investments in infrastructure and foundational platforms are expected to optimize operations and drive revenue growth [20].

Core Insights - DeFi Development Corporation will host a live Twitter Spaces event titled "Scaling Solana: Builders, Backers, & Believers" on April 24, 2025, focusing on Solana's growth and capital markets trajectory [1] - The event will feature prominent figures from the Solana ecosystem, discussing infrastructure and institutional adoption [8] Company Overview - DeFi Development Corporation has adopted a treasury policy that allocates its principal holding in treasury reserves to Solana (SOL), aiming to provide investors with access to the Solana ecosystem [4] - The company's treasury policy is designed to offer economic exposure to SOL investments [4] Event Details - The Twitter Spaces conversation will include insights from industry veterans and key stakeholders in the Solana ecosystem [8] - Featured speakers include executives from DeFi Development Corporation, the Solana Foundation, Kraken, Pantera Capital, and Arrington Capital [8]

Analyst's Disclosure: I/we have no stock, option or similar derivative position in any of the companies mentioned, and no plans to initiate any such positions within the next 72 hours. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from Seeking Alpha). I have no business relationship with any company whose stock is mentioned in this article. Seeking Alpha's Disclosure: Past performance is no guarantee of future results. No recommendation or ...

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About this content About Oliver Haill Oliver has been writing about companies and markets since the early 2000s, cutting his teeth as a financial journalist at Growth Company Investor with a focusing on AIM companies and small caps, before a few years later becoming a section editor and then head of research. He joined Proactive after a couple of years freelancing, where he worked for the Financial Times Group, ITV, Press Association, Reuters sports desk, the London Olympic News Service, Rugby World Cup ...