Coinbase Global, Inc.
For the period ended Sep 30, 2025. Filed Oct 30, 2025.
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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.
Sep 30, 2025 · Filed Oct 30, 2025
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
| Nine Months Ended September 30, | ||
|---|---|---|
| 2025 | 2024 | |
| Cash flows from operating activities | ||
| Net income | $1,927,060 | $1,287,890 |
| Adjustments to reconcile net income to net cash (used in) provided by operating activities: | ||
| Depreciation and amortization | 117,312 | 94,523 |
| Stock-based compensation expense | 608,958 | 690,854 |
| Deferred income taxes | 486,498 | 61,075 |
| Gains on crypto assets held for operations, net | (10,077) | (55,484) |
| Gains on crypto assets held for investment, net | (189,305) | (210,902) |
| (Gains) losses on investments, net | (1,075,198) | 15,141 |
| Other operating activities, net | 6,830 | 31,745 |
| Net changes in operating assets and liabilities | (2,510,846) | (322,616) |
| Net cash (used in) provided by operating activities | (638,768) | 1,592,226 |
| Cash flows from investing activities | ||
| Fiat loans originated | (1,246,352) | (1,270,063) |
| Proceeds from repayment of fiat loans | 819,455 | 1,075,000 |
| Business combinations, net of cash acquired | (687,634) | — |
| Purchases of crypto assets held for investment | (679,931) | (18,486) |
| Dispositions of crypto assets held for investment | 226,371 | 52,586 |
| Other investing activities, net | (84,292) | (72,006) |
| Net cash used in investing activities | (1,652,383) | (232,969) |
| Cash flows from financing activities | ||
| Issuances of convertible senior notes, net | 2,957,135 | 1,246,025 |
| Purchases of capped calls | (224,250) | (104,110) |
| Customer custodial fund liabilities | (600,398) | (550,776) |
| Fiat received as collateral | 499,417 | 525,699 |
| Fiat received as collateral returned | (514,494) | (410,438) |
| Taxes paid related to net share settlement of equity awards | (308,803) | (117,225) |
| Other financing activities, net | 87,489 | 93,488 |
| Net cash provided by financing activities | 1,896,096 | 682,663 |
| Net (decrease) increase in cash, cash equivalents, and restricted cash and cash equivalents | (395,055) | 2,041,920 |
| Effect of exchange rates on cash, cash equivalents, and restricted cash and cash equivalents | 89,868 | 19,664 |
| Cash, cash equivalents, and restricted cash and cash equivalents, beginning of period | 14,610,442 | 9,555,429 |
| Cash, cash equivalents, and restricted cash and cash equivalents, end of period | $14,305,255 | $11,617,013 |
The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.