Coinbase Global, Inc.
For the period ended Dec 31, 2025. Filed Feb 12, 2026.
View on SEC.govAbout this filing
A company's yearly report to the SEC, with audited financial statements. It is the fullest account a company gives of its business, its finances and the risks it sees.
FY2025 · Filed Feb 12, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
See the whole filing, with its images and exhibitsContents
10. Goodwill and Intangible Assets, Net
- GOODWILL AND INTANGIBLE ASSETS, NET
Goodwill
The following table reflects the changes in the carrying amount of goodwill (in thousands):
| Carrying Amount | |
|---|---|
| Balance at January 1, 2025 | $1,139,670 |
| Additions due to acquisitions | 3,029,297 |
| Balance at December 31, 2025 | $4,168,967 |
There was no impairment recognized against goodwill at the beginning or end of the year presented, and no measurement period adjustments during the year presented.
Intangible assets, net
Intangible assets, net, as disclosed in this footnote, exclude internally developed software and crypto assets, which are presented within Software and equipment, net and the various crypto assets held line items in the Consolidated Balance Sheets, respectively. Intangible assets, net and their associated weighted average remaining useful lives in years (“Life”) consisted of the following (in thousands, except years):
| December 31, 2025 | December 31, 2024 | |||||||
|---|---|---|---|---|---|---|---|---|
| Gross Carrying Amount | Accumulated Amortization | Intangible Assets, Net | Life | Gross Carrying Amount | Accumulated Amortization | Intangible Assets, Net | Life | |
| Amortizing assets | ||||||||
| Customer relationships | $1,072,800 | $(35,935) | $1,036,865 | 14.6 | $75,711 | $(65,989) | $9,722 | 0.4 |
| Acquired developed technology | 335,411 | (47,969) | 287,442 | 5.4 | 30,700 | (21,962) | 8,738 | 1.6 |
| Trade name and other | 48,000 | (2,513) | 45,487 | 7.1 | 3,400 | (3,306) | 94 | 0.1 |
| Indefinite-lived assets | ||||||||
| Licenses and other | 28,000 | — | 28,000 | N/A | 28,250 | — | 28,250 | N/A |
| Total | $1,484,211 | $(86,417) | $1,397,794 | $138,061 | $(91,257) | $46,804 | ||
The effects of amortization of Intangible assets, net on the Consolidated Statements of Operations was as follows (in thousands):
| Year Ended December 31, | |||
|---|---|---|---|
| 2025 | 2024 | 2023 | |
| Technology and development | $28,662 | $10,414 | $46,610 |
| Sales and marketing | 29,252 | — | — |
| General and administrative | 9,212 | 16,628 | 23,018 |
| Total amortization expense | $67,126 | $27,042 | $69,628 |
There were no material impairment charges associated with these assets during these periods. The Company estimates no significant residual value related to these amortizing intangible assets.
The expected future amortization expense for amortizing intangible assets as of December 31, 2025, was as follows (in thousands):
| 2026 | $138,231 |
| 2027 | 130,341 |
| 2028 | 127,481 |
| 2029 | 124,043 |
| 2030 | 123,524 |
| Thereafter | 726,174 |
| Total expected future amortization expense | $1,369,794 |
The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.