Coinbase Q3 revenue down 35% year-over-year, net income $719 million

According to TechFlow, on October 30, based on Coinbase's officially released earnings report, Coinbase's total revenue for Q3 2026 was $1.216 billion, compared with $1.869 billion in the same period last year, down approximately 35% year-over-year; net income was $719 million, adjusted net income was $78 million, and adjusted EBITDA was $333 million, up 60% quarter-over-quarter.

By business segment, Q3 transaction revenue was $590 million, compared with $1.046 billion in the same period last year; subscription and services revenue was $570 million, accounting for 49% of net revenue. Average USDC holdings within Coinbase products hit a new high of $22 billion, up 49% year-over-year; annualized revenue from the prediction markets business has exceeded $200 million.

According to The Defiant, the gap between Coinbase's net income and adjusted net income is mainly due to investment gains on crypto assets.

Source: TechFlow