Key Takeaways
- Coinbase reported a fourth-quarter revenue of $2.3 billion, surpassing analyst estimates by 23%.
- Growth was driven by increased digital asset prices and adoption of services like staking and USDC assets.
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Coinbase reported fourth-quarter revenue of $2.3 billion, exceeding analyst estimates by 23% and marking an 88% increase from the previous quarter.
Our Q4 and FY 2024 financial results are now live. pic.twitter.com/R5LuW7pwI9
— Coinbase 🛡️ (@coinbase) February 13, 2025
Transaction revenue surged 172% to $1.6 billion, while subscription and services revenue grew 15% to $641 million, according to the company’s Q4 2024 shareholder letter.
The crypto exchange operator’s performance was driven by rising digital asset prices and increased adoption of its services, including staking, custody, and USDC assets.
The company also saw growth in its Coinbase One subscriber base.
For the full year 2024, Coinbase more than doubled its total revenue to $6.6 billion and recorded a net income of $2.6 billion.
The company reported $3.3 billion in Adjusted EBITDA and maintained $9.3 billion in USD resources at year-end.
The results reflect heightened trading activity across centralized exchanges during the quarter, coinciding with price appreciation in Bitcoin and Ethereum.
Coinbase’s strategic initiatives, including product adoption across Base, Coinbase One, Prime Financing, and international expansion, contributed to revenue diversification.
Earlier in 2024, Coinbase reported $1.64 billion in Q1 revenue, surpassing expectations with a significant increase in consumer transaction revenue.
In 2024 Q2, Coinbase reported $1.4 billion in revenue, beating estimates despite lower profits, reflecting the volatility of the crypto market and the growing importance of regulatory clarity for the industry.
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