Coinbase Q2 Report: Revenue Hit $1.22B, Net Loss $359M

Coinbase reported second-quarter 2026 earnings. We break down the most interesting and important numbers for crypto market participants. Coinbase increased its share of global digital asset trading volume to a record 10.3%–the third straight quarter of all-time highs.

However, revenue came in at $1.22 billion, down 14% from the previous quarter and missing Wall Street’s $1.29 billion forecast. Hot topic: Strategy May Sell More Bitcoin to Pay Dividends as Cash Takes Priority Net loss reached $359.5 million.

Adjusted EBITDA remained positive at $207.8 million–the 14th consecutive quarter in positive territory. Coinbase shares fell 5.4% in after-hours trading.

Revenue Diversification: 88% of Coinbase’s Revenue No Longer Tied to Spot Bitcoin Trading Transaction revenue came in at $599 million, below the $636 million forecast. Subscription and services revenue was $555 million–48% of net revenue–below the $565-$645 million guidance.