The crypto giant Coinbase is on the stage with some staggering stats to flaunt. 🚀
Prepare to be amazed, and proud… Because the most important company in web3 is carrying the industry on its sturdy shoulders.
Unfortunately, we can’t look onchain to get Coinbase’s earnings results, instead, we’ll have to review the old-fashioned way (for now).
- A towering $145B in quarterly volume traded.
- A cool $130B in assets on the platform.
- Operations spanning across 100+ countries worldwide.
- A strong and diversified team of 3500+ employees.
These aren’t just numbers; they’re a testament to the powerhouse that is Coinbase.
As we dive deeper, you’ll see just how robust this crypto giant truly is and why that’s important for YOU and the wider industry. Let’s go!
Crunching the Q1 Numbers
In the world of business, numbers speak louder than words.
And boy, do Coinbase’s Q1’23 numbers have a story to tell!
We’ll dissect this crypto behemoth’s earnings, not just to marvel at the figures, but to understand what they mean for the web3 space as a whole.
After all, Coinbase’s success is like a weather vane for the direction of our entire industry.
Now, let’s unravel the numbers one by one:
- $736M in net revenue, up 22% Q/Q. That’s not just growth; that’s a rocket ship taking off! 🚀
- 24% decrease Q/Q in total operating expenses. Remember the January layoffs? Sad as they were, it seems they paid off in terms of leaner operations.
- $284M in adjusted EBITDA. If you’re scratching your head, EBITDA stands for Earnings Before Interest, Taxes, Depreciation, and Amortization.
It’s a measure of a company’s overall financial performance and is often used as an alternative to simple earnings or net income in some circumstances.
TL;DR: It’s looking healthy!
- $362M in subscription and services revenue, up 28% Q/Q. Yes, folks, Coinbase is not just about transaction fees. They’ve diversified, and it’s paying dividends.
- $375M in total transaction revenue, up 16% Q/Q. While trading volume is important, it’s the revenue that fills the coffers, and Coinbase is filling them up nicely!
- $130B in Assets on the platform, up 62% 🤯 Q/Q. Clearly, users aren’t just trading; they’re storing their assets with Coinbase. Trust much?
- $5.3B in USD resources. That’s the kind of cash reserve that could weather any storm.
With these numbers, it’s evident Coinbase is not just surviving; it’s thriving.
But that’s not highlighted in the stock price
Despite being up 70% YTD, $COIN is still down 83% from when it started to trade.
At Web3 Academy, we’re here to help you build and invest. Let’s talk investing for a second.
Now, we’re not saying you should re-mortgage your house or take a loan from Blend to buy Coinbase stocks, but let’s just say it wouldn’t be the worst idea to pay more attention to it.
Just to be crystal clear: this is NOT financial advice! We’re just pointing out that the chicken seems to be laying some pretty golden eggs right now. 🐔💰
In the next section, we’ll delve into what this success means for you, and the broader web3 community. So stick around.
The Big Picture: Coinbase’s Impact 🌍
Why should you, as an investor, builder or early tech adopter, care about these numbers?
The answer is simple and profound:…
