For the year ending 2025-12-31, COIN had $1,117,115K increase in cash & cash equivalents over the period.
| Cash Flow | 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 |
|---|---|---|---|---|
| Net income | 1,260,327 | 2,579,066 | 94,871 | -2,624,949 |
| Depreciation and amortization | 188,428 | 127,518 | 139,642 | 154,069 |
| Crypto asset impairment expense | - | - | 96,783 | 757,257 |
| Other impairment expense | - | - | 18,793 | 26,518 |
| Investment impairment expense | - | 18,717 | 29,375 | 101,445 |
| Stock-based compensation expense | 839,440 | 912,838 | 780,668 | 1,565,823 |
| Restructuring stock-based compensation expense | - | - | 84,042 | - |
| Provision for transaction losses and doubtful accounts | - | - | 11,059 | -13,051 |
| (gain) loss on disposal of property and equipment | - | - | - | 58 |
| Deferred income taxes | 238,308 | 151,315 | -216,334 | -468,035 |
| Unrealized loss (gain) on foreign exchange | - | - | -17,190 | -28,516 |
| Non-cash lease expense | - | - | 40,429 | 31,123 |
| Change in fair value of contingent consideration | - | - | - | 8,312 |
| Crypto asset payments for expenses | - | - | 298,255 | - |
| Realized gain on crypto assets | - | - | 145,594 | 36,666 |
| Crypto assets received as revenue | - | - | 460,878 | 470,591 |
| Crypto asset payments for expenses | - | - | - | 383,221 |
| Fair value (gain) loss on derivatives | - | - | -41,033 | 7,410 |
| Losses (gains) on crypto assets held for operations, net | -20,704 | 71,725 | - | - |
| Amortization of debt discount and issuance costs | - | - | - | 9,253 |
| Losses (gains) on crypto assets held for investment, net | -528,857 | 687,055 | - | - |
| (gains) losses on investments, net | 680,520 | - | 50,121 | -3,056 |
| Gains on extinguishment of long-term debt, net | 0 | 0 | 117,383 | - |
| Other operating activities, net | 62,246 | 4,172 | 16,981 | - |
| Usdc | - | - | - | 848,138 |
| Accounts and loans receivable | - | - | - | 141,023 |
| Accounts receivable, net | 1,983 | - | - | - |
| Deposits in transit | - | - | - | -28,952 |
| Customer custodial funds in transit | 57,152 | - | - | - |
| Income taxes, net | -147,449 | - | - | 1,906 |
| Other current and non-current assets | 47,228 | - | - | -19,237 |
| Accounts payable | - | - | - | 18,612 |
| Lease liabilities | - | - | - | -10,223 |
| Purchase of investments | - | - | 11,822 | 63,048 |
| Net changes in operating assets and liabilities | - | 478,002 | -326,206 | - |
| Other current and non-current liabilities | 108,101 | - | - | -100,771 |
| Purchase of assembled workforce | - | - | 0 | 0 |
| Net cash provided by operating activities | 2,426,383 | 2,556,844 | 922,951 | -1,585,419 |
| Loans originated | - | - | - | 207,349 |
| Fiat loans originated | - | 1,700,055 | 586,691 | - |
| Loans originated | 12,453,223 | - | - | - |
| Proceeds from repayment of loans | 11,664,530 | 1,488,500 | 513,698 | 327,539 |
| Purchase of property and equipment | - | - | - | 2,933 |
| Assets pledged as collateral | - | - | 27,899 | 41,630 |
| Proceeds from sale of property and equipment | - | - | - | 83 |
| Assets pledged as collateral | 16,009 | - | - | - |
| Assets pledged as collateral returned | - | - | 68,338 | - |
| Capitalized internal-use software development costs | - | - | 63,202 | 61,038 |
| Return of assets pledged as collateral | 16,188 | - | - | - |
| Proceeds from settlement of investments | - | - | - | 1,551 |
| Settlement of crypto futures contract | - | - | 43,339 | - |
| Business combinations, net of cash and cash equivalents acquired | 742,038 | 0 | 30,730 | 186,150 |
| Purchases of crypto assets held for investment | 787,821 | - | 277,367 | 1,400,032 |
| Dispositions of crypto assets held for investment | 266,546 | - | 461,325 | 969,185 |
| Purchase of investments | 377,426 | - | - | - |
| Dispositions of investments | 490,298 | - | - | - |
| Other investing activities, net | 110,595 | 70,830 | -3,081 | - |
| Cash paid to repurchase equity awards | - | - | - | 0 |
| Net cash used in investing activities | -2,049,550 | -282,385 | 5,392 | -663,822 |
| Issuance of shares from exercise of warrants | - | - | - | 0 |
| Issuance of common stock upon exercise of stock options, net of repurchases | 78,286 | 126,140 | 47,944 | 51,497 |
| Issuances of convertible senior notes, net | 2,957,135 | 1,246,025 | 0 | 0 |
| Issuance of senior notes, net | - | - | 0 | 0 |
| Purchase of capped calls | - | - | 0 | 0 |
| Repurchase of common stock | 790,195 | - | - | - |
| Repayment of long-term debt | 0 | 0 | 303,533 | - |
| Proceeds received under the espp | - | - | 16,297 | 20,848 |
| Purchases of capped calls | 224,250 | 104,110 | - | - |
| Customer custodial fund liabilities | -936,205 | 1,638,087 | -274,822 | -5,562,558 |
| Customer collateral received | 871,389 | 567,806 | 66,014 | - |
| Return of customer collateral | 891,967 | 544,228 | 64,952 | - |
| Taxes paid related to net share settlement of equity awards | 402,791 | 117,225 | 277,798 | 351,867 |
| Proceeds from short-term borrowings | 626,428 | 0 | 31,640 | 190,956 |
| Repayments of short-term borrowings | 580,664 | 0 | 52,122 | 191,073 |
| Other financing activities, net | 33,116 | 16,426 | 0 | 3,679 |
| Net cash provided by (used in) financing activities | 740,282 | 2,828,921 | -811,332 | -5,838,518 |
| Net increase (decrease) in cash, cash equivalents, and restricted cash and cash equivalents | 1,117,115 | 5,103,380 | 117,011 | -8,087,759 |
| Effect of exchange rate changes on cash | 92,850 | -48,367 | 8,772 | -163,257 |
| Cash and cash equivalents at beginning of period | 15,683,455 | 9,555,429 | 9,429,646 | 17,680,662 |
| Cash and cash equivalents at end of period | 16,893,420 | 14,610,442 | 9,555,429 | 9,429,646 |
Coinbase Global, Inc. (COIN)
Coinbase Global, Inc. (COIN)