Results published on 29 October

Coinbase reported third-quarter 2026 results on 29 October, covering the period ended 30 September. Its release gives net income of $719 million, adjusted net income of $78 million and adjusted EBITDA of $333 million. The adjusted measures are non-GAAP and should not be presented as interchangeable with reported net income.

The company had announced the release date on 14 October, scheduling publication after the market close and a question-and-answer session that day. The timing notice and the results release are separate documents serving different purposes. This report, published on 2 November, concerns the completed earnings announcement rather than an upcoming release.

Management describes a broader revenue mix

Coinbase says subscription and services represented 49% of net revenue in the quarter. It also reports average USDC holdings in its products of $22 billion and prediction-market revenue exceeding a $200 million annualised rate. These are attributed company disclosures, not independent CryptoGov measurements.

An annualised revenue rate is not the same as revenue already earned over a full year. Likewise, the gap between net and adjusted income calls for examining the reconciliation and definitions rather than choosing the larger or smaller number to fit a narrative. The company itself identifies the adjusted figures as non-GAAP.

What the release can establish

The announcement supports reporting the quarter’s disclosed results and management’s account of its business mix. It does not by itself establish that a new revenue stream will grow at the same rate or that the next quarter will reproduce the same earnings. A historical reporting period and a forward-looking expectation should remain separate.

CryptoGov’s analysis is that the comparison of measures is more informative than a single headline profit figure. Readers assessing the business need to understand which adjustments change the result and whether a growth statistic refers to balances, transaction activity or revenue. Those categories describe different parts of the company’s economics.

The next useful reporting evidence would be further financial filings, the detailed reconciliation and subsequent period results. This article does not infer a valuation for Coinbase shares or a direction for crypto prices from one quarter’s release. The confirmed event is the publication of earnings, on the announced date, with materially different accounting measures that deserve to be read together rather than selectively.

Photograph and attribution

Coinbase chief executive Brian Armstrong at TechCrunch Disrupt San Francisco in September 2018; archival photograph. Photograph: Steve Jennings / Getty Images for TechCrunch; released by TechCrunch. Reused under Creative Commons; the exact licence and Wikimedia Commons source are linked below. No new image alteration by CryptoGov; existing crop where indicated. Gabriel Nicolaev — CyGuru.

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Researched and published by CryptoGov Editorial Desk. Source publication and effective dates are explained in the article where relevant.