Coinbase Earnings Report
By: ssmlee04 Community Lead :)) 💬 574
Feb 22, 2023
Coinbase reported a net loss of $2.62 billion in 2022. At the same time, they have grown in many areas and shifted their focus to a more SaaS-like approach. The results are mixed, and it will be interesting to see what happens in the next few trading sessions.
Some business highlights:
- Revenue has been diversifying and driven by Subscription and Services Revenue.
- cut expenses and trimmed headcount to get better positioning.
- anticipate further headcount reduction in 2023.
- anticipate more regulations and thinks coin is positioned to benefit.
- expect Subscription and Services Revenue to be in the range of 300-325m next quarter. that would translate to a 312.5/282.8 midpoint growth of 10% qoq.
- they have a lot of cash and is cognizant of the risks they're facing.
They pay a lot of stock based compensation that's about 68% of their total revenue this quarter. Reducing headcount would also bring down the expense in this part so maybe in a few quarters we can see the company turn into profitability. It's not impossible.
COIN - Coinbase, Inc 5.19% since post
Member since: 2019-03-03
Hi, I'm Shih-Min. I am a software engineer that deals with highly-scalable, distributed and fault-tolerant systems.