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Mar 31, 2022
Coinbase Q1 2022 Earnings Report
Coinbase's Q1 2022 results were impacted by lower crypto asset prices and volatility, which began in late 2021, but the company remained focused on long-term growth and continued to invest in product development and platform expansion.
Key Takeaways
Coinbase's Q1 2022 results were affected by lower crypto asset prices and volatility, with MTUs down to 9.2 million and total net revenue at $1.2 billion. The company experienced a net loss of $430 million, but remained focused on long-term growth, investing in product development, and expanding services.
Q1 MTUs and Revenues decreased Q/Q.
Results aligned with Coinbase's Q1 outlook.
Coinbase gained trading volume market share in 7 of the top 10 assets traded on the platform, including BTC and ETH.
The company continued to invest in product development, including the beta launch of Coinbase NFT and expansion of Coinbase Wallet.
Revenue by Segment
Forward Guidance
Coinbase anticipates lower MTUs and total trading volume in Q2 2022 compared to Q1 2022. Subscription and services revenue is expected to be similar to modestly lower. The company plans to invest significantly throughout the year to build the future of crypto, aiming to manage potential Adjusted EBITDA losses to approximately $500 million for the full year.
Positive Outlook
- Continue building the future of crypto.
- Expanding core investing products in international markets.
- Delivering the best self-custody wallet product to serve as the gateway to Web3.
- Serve as the primary financial account for the cryptoeconomy.
- Monitor market conditions to ensure resources are invested responsibly and wisely.
Challenges Ahead
- Continued declines in crypto asset volatility and crypto asset prices.
- Weakness in financial markets.
- We believe MTUs will be lower in Q2 compared to Q1
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
Analyze how earnings announcements historically affect stock price performance
Avg. Return Before/After Earnings
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