The crypto exchange reported a $1.49 per share loss, missing estimates, while revenue fell to $1.41 billion amid declining transaction volumes.
Coinbase reported a net loss of $1.49 per share for Q1 2026, missing analyst expectations of a $0.27 profit. Revenue declined 31% year-over-year to $1.41 billion, below the $1.48 billion consensus estimate.
Consumer transaction revenue fell 45% to $734 million, while operating expenses rose 22% to $1.5 billion. Institutional transaction revenue bucked the trend, growing 31% to $185 million, driven by record Deribit derivatives volumes.
Shares of COIN dropped 4% in after-hours trading. Despite the loss, prediction markets emerged as a bright spot, reaching $100 million in annualized revenue in under two months.