Coinbase Q1 Revenue Up 9x To $1.8BN Ahead Of IPO

Posted on April 7, 2021 by Brad Steveson

Coinbase just released quarterly financials and outlook for the first time, despite still being a private company. The firm reported about $1.8 billion in revenue, a 9x increase from the prior year, and a net income of $730M to $800M on an adjusted EBITDA of about $1.1 billion. In addition, the company boasted 56M verified users (13M of them added in Q1 alone) and 6.1M monthly transacting users (+3.3M in Q1). Revenue growth over the last quarter was 207.6%, net income was up 312.9% and volume traded was up 272%. The first Q press release is available here Copy of Q1’21 Guidance Call Release (q4cdn.com).

It seems that momentum at this company is building at the right time as it seeks to generate hype ahead of its IPO on the Nasdaq next week. Instead of hiring a bank to act as the broker of an IPO, Coinbase is planning a direct listing of its stock instead. This will allow current investors to sell their shares to new investors once the stock goes public.

It will be interesting to see what the price range and initial market cap will be.

I have no position and I have no plans to initiate a position when the company goes public

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Scott Shuda

Did you see that Kuppy picked today to announce he is selling his Bitcoin?

http://new.breakoutinvestors.com/2021/04/kuppy-following-his-gut-out-of-bitcoin/

Florian Buschek

Sure never hurts to be interested.

Scott Shuda

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Scott Shuda

There are few ways to secure direct ownership of crypto currencies, outside of buying them directly, a service that Coinbase provides for a fee, and which investors appear willing to pay for. Coinbase, whose users primarily deal in bitcoin and ethereum, reported last week that its revenue soared 847% in the first quarter to $1.8 billion, and that it now has 56 million verified users.

https://www.marketwatch.com/story/coinbase-ipo-everything-you-need-to-know-about-the-watershed-moment-in-crypto-11618350086

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