Coinbase Earnings Report
They might be positioned to benefit from the increased adoption of blockchain.
Coinbase reported a net loss of $2.62 billion in 2022. At the same time, they have grown in many areas and shifted their focus to a more SaaS-like approach. The results are mixed, and it will be interesting to see what happens in the next few trading sessions.
Some business highlights:
- Revenue has been diversifying and driven by Subscription and Services Revenue.
- cut expenses and trimmed headcount to get better positioning.
- anticipate further headcount reduction in 2023.
- anticipate more regulations and thinks coin is positioned to benefit.
- expect Subscription and Services Revenue to be in the range of 300-325m next quarter. that would translate to a 312.5/282.8 midpoint growth of 10% qoq.
- they have a lot of cash and is cognizant of the risks they're facing.
They pay a lot of stock based compensation that's about 68% of their total revenue this quarter. Reducing headcount would also bring down the expense in this part so maybe in a few quarters we can see the company turn into profitability. It's not impossible.
COIN - Coinbase, Inc Total since post: 45.71%
| 30-day since post: -15.56%
| 90-day since post: -5.95%