Coinbase Global (COIN) Revenue — Quarter Ended Mar 31, 2023
Revenue increased compared to the prior quarter, reversing a trend of sequential declines, but remained well below the level from the same period last year. The trailing twelve-month revenue reflects the recent volatility.
Key takeaway
Quarter ended Mar 31, 2023 · FY2023 Q1
Revenue increased compared to the prior quarter, reversing a trend of sequential declines, but remained well below the level from the same period last year. The trailing twelve-month revenue reflects the recent volatility.
Financial snapshot
Reported revenue, sequential change, year-over-year change, and trailing four-quarter revenue.
Quarter revenue
$772.5M
Revenue reported for this quarter.
Quarter-over-quarter
+22.8%
Change from the immediately preceding quarter.
Year-over-year
-33.8%
Change from the comparable year-ago quarter.
Trailing four quarters
$2.8B
Sum of the latest four reported quarters.
Quarterly revenue trend
The latest four reported quarters with year-over-year comparisons.
| Period ended | Revenue | Year-over-year change |
|---|---|---|
| Jun 30, 2022 | $808.3M | -63.7% |
| Sep 30, 2022 | $590.3M | -55.0% |
| Dec 31, 2022 | $629.1M | -74.8% |
| Mar 31, 2023 | $772.5M | -33.8% |
Revenue performance
Revenue for the quarter rose relative to the immediately preceding quarter, marking the first sequential increase after several quarters of declines. The growth was driven by factors not specified in the filing.
Quarterly comparison
Compared to the same quarter one year earlier, revenue was significantly lower, continuing the year-over-year declines seen in recent quarters. The quarter-over-quarter improvement, however, suggests a potential stabilization.
What to watch
Future revenue trends will depend on the company's ability to sustain the sequential growth amid ongoing year-over-year declines.