Coinbase Global annual operating margin
2019
2020
2021
2022
2023
2024
2025
Coinbase Global Operating Margin Growth & History (COIN)
Coinbase Global's operating margin was 19.99% for fiscal 2025.
View full Coinbase Global company overviewCoinbase Global annual operating margin history
| Fiscal year | Period ended | Operating margin | Change (percentage points) |
|---|---|---|---|
| 2025 | 2025-12-31 | 19.99% | −15.16 pp |
| 2024 | 2024-12-31 | 35.15% | +40.35 pp |
| 2023 | 2023-12-31 | −5.20% | +79.65 pp |
| 2022 | 2022-12-31 | −84.85% | −124.09 pp |
| 2021 | 2021-12-31 | 39.24% | +7.23 pp |
| 2020 | 2020-12-31 | 32.01% | +40.59 pp |
| 2019 | 2019-12-31 | −8.58% | — |
Coinbase Global quarterly operating margin
Q1.20
Q2.20
Q3.20
Q4.20
Q1.21
Q2.21
Q3.21
Q4.21
Q1.22
Q2.22
Q3.22
Q4.22
Q1.23
Q2.23
Q3.23
Q4.23
Q1.24
Q2.24
Q3.24
Q4.24
Q1.25
Q2.25
Q3.25
Q4.25
Q1.26
Q2.26
| Fiscal quarter | Period ended | Operating margin | Change (percentage points) |
|---|---|---|---|
| Q2 2026 | 2026-06-30 | −9.30% | −7.66 pp |
| Q1 2026 | 2026-03-31 | −1.52% | −36.21 pp |
| Q4 2025 | 2025-12-31 | 15.37% | −30.15 pp |
| Q3 2025 | 2025-09-30 | 25.71% | +11.65 pp |
| Q2 2025 | 2025-06-30 | −1.65% | −25.32 pp |
| Q1 2025 | 2025-03-31 | 34.70% | −11.74 pp |
| Q4 2024 | 2024-12-31 | 45.52% | +33.40 pp |
| Q3 2024 | 2024-09-30 | 14.07% | +25.91 pp |
| Q2 2024 | 2024-06-30 | 23.67% | +34.06 pp |
| Q1 2024 | 2024-03-31 | 46.44% | +62.47 pp |
| Q4 2023 | 2023-12-31 | 12.12% | +100.32 pp |
| Q3 2023 | 2023-09-30 | −11.84% | +82.42 pp |
| Q2 2023 | 2023-06-30 | −10.39% | +118.81 pp |
| Q1 2023 | 2023-03-31 | −16.03% | +31.50 pp |
| Q4 2022 | 2022-12-31 | −88.20% | −125.12 pp |
| Q3 2022 | 2022-09-30 | −94.27% | −116.51 pp |
| Q2 2022 | 2022-06-30 | −129.20% | −168.47 pp |
| Q1 2022 | 2022-03-31 | −47.53% | −102.37 pp |
| Q4 2021 | 2021-12-31 | 36.92% | −1.81 pp |
| Q3 2021 | 2021-09-30 | 22.24% | −9.94 pp |
| Q2 2021 | 2021-06-30 | 39.26% | +16.68 pp |
| Q1 2021 | 2021-03-31 | 54.84% | +34.50 pp |
| Q4 2020 | 2020-12-31 | 38.73% | — |
| Q3 2020 | 2020-09-30 | 32.19% | — |
| Q2 2020 | 2020-06-30 | 22.58% | — |
| Q1 2020 | 2020-03-31 | 20.34% | — |
Coinbase Global operating margin trends
Over the last five reported fiscal years, Coinbase Global's operating margin decreased from 32.01% to 19.99%, a change of −12.02 percentage points. The latest reported quarter, Q2 2026, shows −9.30%.
About the metric
What operating margin means
Operating margin measures the percentage of revenue left after operating costs and expenses. It shows how much operating profit a company generates from each dollar of revenue.
Calculation and source
How operating margin is calculated
TickerStat calculates operating margin as SEC-reported operating income divided by SEC-reported revenue for the same fiscal period. Changes are shown in percentage points. Fiscal periods can differ from calendar years, so exact period-end dates are included.
Review Coinbase Global filings at SEC.gov ↗