Coinbase Global (COIN) FY2023 results: revenue $3.1 billion, down 2.7% on the year
Coinbase Global, Inc. (COIN) reported revenue of $3.1 billion for fiscal 2023, the year ended 31 December 2023, down 2.7% on the year before. Net income was $95 million, and diluted earnings per share $0.37. The figures are the company's own, from the 10-K it filed with the SEC on 15 February 2024.
Revenue
$3.1 billion
-2.7% on the year
FY2019FY2023
Operating margin
-5.2%
-84.8% a year earlier
FY2019FY2023
Net income
$95 million
FY2019FY2023
Diluted EPS
$0.37
FY2019FY2023
this yearthe year beforeHover a bar for its figure.
$ million except per share. Read moreFree cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Those four are arithmetic on the filed numbers; everything else is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and share counts are as they are.
Cash flow
$ million
FY2023
FY2022
FY2021
On the year
Last 8 years
Operating cash flow
673
-1,585
4,038
Capital expenditure
n/a
2.9
2.9
Free cash flow
n/a
-1,588
4,035
Free cash flow margin
n/a
-49.7%
51.5%
Cash from investing
-206
-664
-1,125
Cash from financing
-838
-5,839
9,976
Depreciation and amortisation
140
154
63.7
-9.4%
Share-based compensation
781
1,566
821
-50.1%
Buybacks
0.0
n/a
n/a
Diluted shares, weighted
254m
222m
220m
+14.4%
Balance sheet
$ million
FY2023
FY2022
FY2021
On the year
Last 8 years
Shareholders' equity
6,282
5,455
6,382
+15.2%
Redeemable equity
0.0
0.0
0.0
Short-term borrowings
0.0
20.5
20.1
Debt
2,980
3,393
3,385
-12.2%
Operating lease liabilities
3.8
42.0
74.1
-90.9%
Other liabilities
5,488
80,814
11,414
-93.2%
Total liabilities and equity
14,754
89,725
21,274
-83.6%
Fixed assets
193
172
59.2
+12.0%
Goodwill
1,140
1,074
626
+6.1%
Intangible assets
86.4
135
177
-36.2%
Cash and equivalents
5,489
4,425
7,123
+24.0%
Receivables
168
220
n/a
-23.6%
Other assets
7,678
83,698
13,289
-90.8%
Total assets
14,754
89,725
21,274
-83.6%
10-K for the year ended 31 December 2023, filed 15 February 2024: the filing.