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On February 21, 2023, Coinbase reported Q4’22 and FY’22 earnings
Trading closed February 22, 2023, at $61.18 / share, down (1.43%) and up +84.73% in 1-day and YTD trading, respectively
Inherent diversification and shifting of revenue mix from exchange-based transaction execution to services and subscriptions revenue
Continued cost cutting via reductions in force (RIF) and optimization across teams and the organization
Despite a slowdown in trading, FY’22 volume reflects a ~4.3x multiple to $830bn compared to $190bn in FY’20
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