Coinbase Q3 financial results: Revenue reached approximately $1.216 billion, down 35% year-over-year, while adjusted EBITDA stood at around $333 million.

Coinbase released its third-quarter 2026 financial results, reporting total revenue of approximately $1.216 billion, a 35% year-over-year decline. Breakdowns show transaction revenue of around $590 million, and subscription and services revenue of roughly $570 million. Net profit stood at about $719 million, with diluted earnings per share (EPS) of $2.51, up from $433 million in the year-ago period. Adjusted EBITDA was approximately $333 million, down from $801 million year-over-year. The company noted that the revenue decline was primarily driven by a roughly 59% drop in retail spot trading volume and a 53% fall in institutional spot trading volume, partially offset by growth in its derivatives business following the acquisition of Deribit. Net profit was supported by a roughly $715 million gain on investment crypto assets. Operating expenses fell around 17% year-over-year to approximately $1.15 billion, reflecting the roughly 700 layoffs announced in May as part of a restructuring, as well as reduced marketing spending. In the same period, the platform’s prediction market annualized revenue exceeded $200 million, while average in-platform USDC holdings hit around $22 billion, a new all-time high. According to data from the BIT stock platform, Coinbase (COIN) closed down 1.07%, and fell an additional 4.65%.