Coinbase publishes transcript of Q2 2026 earnings presentation

Coinbase Q2 2026 earnings presentation featured CEO Brian Armstrong, CFO Alesia Haas, Chief Business Officer and Head of IR Shan Aggarwal.

• Total revenue: $1.2 billion
• Net loss: $359 million
• Adjusted EBITDA: $208 million
• Adjusted net loss: $105 million
• Transaction revenue: $599 million
• Subscription and services: $555 million, including stablecoin revenue of $292 million on average USDC balances of $20 billion
• Trading share hit a record 10.3%
• Management cited macro pressure as total market spot volumes fell more than 20%
• Circle partnership set to auto-renew on the same terms in August
• July-to-date transaction revenue: about $130 million
• Adjusted expenses guided at $980 million-$1.08 billion