Coinbase Global, Inc. (COIN) FY2025 Annual Statement of Cash Flows
2025-01-01 to 2025-12-31
Statement of Cash Flows
2025-01-01 to 2025-12-31
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Chart details
Coinbase Global, Inc. cash flow reconciliation, Jan 1, 2025 through Dec 31, 2025
Cash flows for Jan 1, 2025 through Dec 31, 2025. Cash basis: Cash, cash equivalents, and restricted cash. Beginning cash: Dec 31, 2024. Ending cash: Dec 31, 2025. Beginning and ending cash are dated balances. Positive cash flows add cash; negative cash flows reduce it.
- Beginning cash on Dec 31, 2024
- 15,683,455,000 US dollars. Beginning cash: Cash, cash equivalents, and restricted cash
- Operating activities
- 2,426,383,000 US dollars. Net cash provided.
- Net income
- 1,260,327,000 US dollars
- Depreciation and amortization
- 188,428,000 US dollars
- Stock-based compensation expense
- 839,440,000 US dollars
- Deferred income taxes
- 238,308,000 US dollars
- (Gains) losses on investments, net
- negative 680,520,000 US dollars
- Gains on extinguishment of long-term debt, net
- 0 US dollars
- Other operating activities, net
- 62,246,000 US dollars
- Accounts receivable, net
- negative 1,983,000 US dollars
- Customer custodial funds in transit
- 57,152,000 US dollars
- Income taxes, net
- negative 147,449,000 US dollars
- Other current and non-current assets
- negative 47,228,000 US dollars
- Other current and non-current liabilities
- 108,101,000 US dollars
- Losses (gains) on crypto assets held for operations, net
- 20,704,000 US dollars
- Losses (gains) on crypto assets held for investment, net
- 528,857,000 US dollars
- Investing activities
- negative 2,049,550,000 US dollars. Net cash used.
- Loans originated
- negative 12,453,223,000 US dollars
- Proceeds from repayment of loans
- 11,664,530,000 US dollars
- Business combinations, net of cash and cash equivalents acquired
- negative 742,038,000 US dollars
- Dispositions of investments
- 490,298,000 US dollars
- Purchases of crypto assets held for investment
- negative 787,821,000 US dollars
- Dispositions of crypto assets held for investment
- 266,546,000 US dollars
- Other investing activities, net
- negative 110,595,000 US dollars
- Assets pledged as collateral
- negative 16,009,000 US dollars
- Return of assets pledged as collateral
- 16,188,000 US dollars
- Purchase of investments
- negative 377,426,000 US dollars
- Financing activities
- 740,282,000 US dollars. Net cash provided.
- Issuance of common stock upon exercise of stock options, net of repurchases
- 78,286,000 US dollars
- Issuances of convertible senior notes, net
- 2,957,135,000 US dollars
- Repurchase of common stock
- negative 790,195,000 US dollars
- Repayment of long-term debt
- 0 US dollars
- Purchases of capped calls
- negative 224,250,000 US dollars
- Customer custodial fund liabilities
- negative 936,205,000 US dollars
- Customer collateral received
- 871,389,000 US dollars
- Return of customer collateral
- negative 891,967,000 US dollars
- Taxes paid related to net share settlement of equity awards
- negative 402,791,000 US dollars
- Proceeds from short-term borrowings
- 626,428,000 US dollars
- Repayments of short-term borrowings
- negative 580,664,000 US dollars
- Other financing activities, net
- 33,116,000 US dollars
- Operating adjustment reconciliation
- 2,043,236,000 US dollars. Intermediate calculation joining the operating reconciliation branches. Its gross amount includes any portion of net income routed through this junction. It is not an additional cash source or use.
- financing gross reconciliation
- 4,566,354,000 US dollars. Gross amount at the activity's junction before offsetting its receipts and deductions. It is not an additional cash source or use.
- investing gross reconciliation
- 14,487,112,000 US dollars. Gross amount at the activity's junction before offsetting its receipts and deductions. It is not an additional cash source or use.
- Exchange-rate effect
- 92,850,000 US dollars
- Ending cash on Dec 31, 2025
- 16,893,420,000 US dollars. Ending cash: Cash, cash equivalents, and restricted cash
- Cash sources and uses
- 18,942,970,000 US dollars. Opening cash plus net sources, equal to net uses plus ending cash.
- Net cash change
- 1,209,965,000 US dollars. Ending cash minus beginning cash.
- Cash flow / Net income
- 1.93×. Operating cash flow divided by reconciliation net income for the same period. Black from 0.90× through 1.10×; green above 1.10×; red below 0.90×. Color uses the unrounded ratio.
Chart connections
- Beginning cash plus operating, investing and financing cash flows plus the exchange-rate effect equals ending cash. Negative amounts reduce cash.
- Financing contributions meet at a reconciliation junction before connecting to the net cash total.
- Investing contributions meet at a reconciliation junction before connecting to the net cash total.
- Operating reconciliation adjustments are not all independent cash receipts.
- Net income enters operating cash directly in the reconciliation. The adjustment junction contributes the remaining $1.17B after reconciling the other positive and negative adjustments. These connections depict an accounting reconciliation, not traced cash receipts.
- Each activity has one net cash bar connected to the shared cash pool. Positive activity totals enter the pool; negative activity totals leave the pool to fund that activity's net payments. The central pool does not assign a particular funding source to a particular payment.
- The intermediate calculation bars include both sides of the displayed activity breakdowns; they are not additional cash flows.
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