Coinbase Global Inc
For the period ended Mar 31, 2024. Filed May 2, 2024.
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A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.
Mar 31, 2024 · Filed May 2, 2024
COIN$132.13-2.9%Stored close · as of Nov 10, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
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Condensed Consolidated Statements of Cash Flows
| Three Months Ended March 31, | ||
|---|---|---|
| 2024 | 2023 | |
| Cash flows from operating activities | ||
| Net income (loss) | $1,176,245 | $(78,896) |
| Adjustments to reconcile net income (loss) to net cash provided by operating activities: | ||
| Depreciation and amortization | 29,327 | 41,208 |
| Stock-based compensation expense | 224,504 | 198,860 |
| Restructuring stock-based compensation expense | — | 84,042 |
| Deferred income taxes | 214,361 | (84,169) |
| Unrealized (gain) loss on foreign exchange | (992) | 8,428 |
| Non-cash lease expense | 2,793 | 12,215 |
| Fair value gains on crypto assets borrowed and borrowings | (2,944) | (3,199) |
| Gains on crypto assets held as investments and operations | (736,787) | (84,685) |
| Realized loss on crypto futures contract | — | 43,339 |
| Crypto asset impairment expense (prior to ASU 2023-08) | — | 28,935 |
| Other operating activities, net | (21,020) | (18,327) |
| Net changes in operating assets and liabilities | (474,002) | 315,327 |
| Net cash provided by operating activities | 411,485 | 463,078 |
| Cash flows from investing activities | ||
| Fiat loans originated | (416,405) | (65,611) |
| Proceeds from repayment of fiat loans | 254,600 | 31,779 |
| Purchase of crypto assets held for investment | (135) | (53,223) |
| Sale of crypto assets held for investment | 51,659 | 110,776 |
| Settlement of crypto futures contract | — | (43,339) |
| Other investing activities, net | (15,400) | (6,462) |
| Net cash used in investing activities | (125,681) | (26,080) |
| Cash flows from financing activities | ||
| Issuance of common stock upon exercise of stock options, net of repurchases | 44,216 | 8,873 |
| Taxes paid related to net share settlement of equity awards | (117,225) | (62,497) |
| Proceeds received under the ESPP | 5,460 | 4,562 |
| Customer custodial cash liabilities | 645,938 | 528,959 |
| Issuance of convertible senior notes, net | 1,246,025 | — |
| Purchase of capped calls | (104,110) | — |
| Fiat received as collateral | 340,296 | 3,117 |
| Fiat received as collateral returned | (132,879) | (2,403) |
| Other financing activities | — | (20,482) |
| Net cash provided by financing activities | 1,927,721 | 460,129 |
| Net increase in cash, cash equivalents, and restricted cash | 2,213,525 | 897,127 |
| Effect of exchange rates on cash, cash equivalents, and restricted cash | (21,186) | 11,377 |
| Cash, cash equivalents, and restricted cash, beginning of period | 9,555,448 | 9,429,646 |
| Cash, cash equivalents, and restricted cash, end of period | $11,747,787 | $10,338,150 |
| Supplemental disclosure of cash flow information | ||
| Cash paid during the period for interest | $— | $74 |
| Cash paid during the period for income taxes | 5,528 | 5,322 |
| Operating cash outflows for amounts included in the measurement of operating lease liabilities | 3,140 | 4,668 |
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