Coinbase

Q2 FY2026 EarningsQ2 FY26 results missed consensus across key profitability metrics despite a top-line beat, with a GAAP net loss of -$359.5M vs. the -$160.5M expected. Revenue reached $1.22B, exceeding the $1.28B consensus (when excluding corporate interest) due to diversification into subscription and services, which now represent 48% of net revenue. However, Diluted EPS of -$1.36 significantly missed the mean estimate of -$0.42, primarily driven by crypto asset investment losses and one-time restructuring charges. Q3 FY26 guidance suggests cautious transaction revenue momentum while maintaining proactive expense discipline.