Subscriptions and services
Steadiest revenue line, 48% of net revenue in Q2 2026. Q3 2026 guidance is $500 million to $580 million.
The numbers
What it is
The recurring line that includes stablecoin economics from USDC, blockchain rewards from staking, custody, Base-related services, and subscription products such as Coinbase One. Coinbase guides this line each quarter, so it is the most predictable part of the company's revenue.
Why it matters to the stock. This line cushions weak trading quarters and is the basis of the 'Everything Exchange' strategy. Traders watch the quarterly guidance range to judge whether the non-trading business is holding up.
News
Coinbase Q2 2026 revenue falls 19% to $1.22 billion and it posts a $359.5 million net loss
Coinbase reported Q2 2026 total revenue of $1,220.1 million, down 19% year over year and 14% quarter over quarter.
Coinbase discloses extra $2.0B buyback; $1.7B repurchased through Feb 10
Coinbase said its board approved an extra $2.0 billion repurchase authorization for Class A stock and long-term debt in January 2026.