Coinbase Global, Inc.
For the period ended Dec 31, 2025. Filed Feb 12, 2026.
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FY2025 · Filed Feb 12, 2026
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17. Other Consolidated Statements of Operations Details
- OTHER CONSOLIDATED STATEMENTS OF OPERATIONS DETAILS
Disaggregation of relevant expense captions, as defined in ASU 2024-03, consisted of the following (in thousands):
| Year Ended December 31, | |||
|---|---|---|---|
| 2025 | 2024 | 2023 | |
| Technology and development | |||
| Employee-related(1) | $1,052,597 | $1,036,656 | $936,881 |
| Website hosting and infrastructure | 322,125 | 228,392 | 192,009 |
| Amortization, depreciation, and impairment(2) | 157,067 | 122,595 | 131,611 |
| Other(3) | 138,816 | 80,609 | 64,040 |
| Total technology and development | $1,670,605 | $1,468,252 | $1,324,541 |
| Sales and marketing | |||
| USDC rewards | $441,347 | $224,255 | $34,944 |
| Marketing programs | 402,555 | 247,087 | 134,018 |
| Employee-related(1) | 136,229 | 151,036 | 143,762 |
| Other(4) | 78,446 | 32,066 | 19,588 |
| Total sales and marketing | $1,058,577 | $654,444 | $332,312 |
| General and administrative | |||
| Employee-related(1) | $664,761 | $606,554 | $571,083 |
| Professional services | 292,599 | 202,956 | 182,908 |
| Customer support(5) | 224,193 | 124,940 | 48,804 |
| Other(6) | 438,089 | 365,807 | 271,513 |
| Total general and administrative | $1,619,642 | $1,300,257 | $1,074,308 |
(1)Represents employee compensation, including transactions entered into for the benefit of employees such as health and wellness benefits.
(2)Comprises amortization, depreciation, and intangible asset impairment expenses, none of which are individually material except for amortization of internal-use software and other intangible assets, as quantified in Notes 9. Software and Equipment, Net and 10. Goodwill and Intangible Assets, Net, respectively.
(3) Comprises primarily costs of contract resources, consulting, and facilities.
(4) Comprises primarily costs of contract resources, travel, and software, as well as amortization, depreciation, and intangible asset impairment expenses.
(5) Excludes employee-related and professional services expenses.
(6) Comprises largely costs of contract resources, public policy efforts, software, and legal settlements. Also includes amortization, depreciation, and intangible asset impairments, none of which are individually material.
Other income, net consisted of the following (in thousands):
| Year Ended December 31, | |||
|---|---|---|---|
| 2025 | 2024 | 2023 | |
| (Gains) losses on investments, net(1) | $(680,520) | $11,553 | $(24,368) |
| Other | (20,374) | (40,627) | (143,215) |
| Total other income, net | $(700,894) | $(29,074) | $(167,583) |
(1)Comprises gains and losses on Marketable and Strategic investments, excluding Crypto assets held for investment. For the year ended December 31, 2025, the amount includes $251.7 million in unrealized net gains on equity securities still held at December 31, 2025 and $438.0 million in realized net gains. See Note 14. Fair Value Measurements for additional details.
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