COIN Coinbase
Q3 2025 10-Q
Coinbase (COIN) 10-Q quarterly report for Q3 2025, filed with SEC EDGAR on Oct 30, 2025 for the fiscal period ending Sep 30, 2025. This page provides AI-powered analysis including management discussion & analysis (MD&A), risk factor updates, and key quarterly financial data such as revenue and net income extracted from XBRL.
AI Filing AnalysisQ3 2025 10-Q
Management Discussion & Analysis
- • Revenue $1.8B for Q3 2025 vs $1.1B Q3 2024 (+64%), $5.2B YTD 2025 vs $4.1B YTD 2024 (+27%)
- • Net income $433M Q3 2025 vs $75.5M Q3 2024; Operating margin ~24.1% Q3 2025 vs ~6.9% Q3 2024 (Net income / revenue)
Risk Factors
- • New regulatory risk: FinCEN’s October 2023 proposed rule on virtual currency “mixing” imposes heightened AML recordkeeping and reporting obligations, with uncertain scope and high compliance costs
- • Most materially updated risk: expanded regulatory uncertainty over crypto assets as securities amid SEC crypto task force launch in January 2025 and evolving SEC/CFTC enforcement priorities
Quarterly Financial SummaryXBRL
Revenue
$1.9B
▲ +55.1% YoY▲ +24.8% QoQ
Net Income
$433M
▲ +473.0% YoY▼ -69.7% QoQ
Operating Margin
25.7%
▲ +1165bp YoY▲ +2736bp QoQ
Net Margin
23.1%
▲ +1688bp YoY▼ -7229bp QoQ
ROE
2.7%
Total Assets
$31.4B
EPS (Diluted)
$1.46
▲ +440.7% YoY▼ -71.7% QoQ
Operating Cash Flow
-$785M
▼ -212.6% YoY▼ -338.8% QoQ
Source: XBRL data from Coinbase Q3 2025 10-Q filing on SEC EDGAR. All figures in USD.
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