Coinbase Global, Inc. (COIN) Q1 2025 Earnings Call

Investor webinar replay

Replay transcript excerpt

Good afternoon. My name is Eric and I will be your conference operator today. At this time, I would like to welcome everyone to the Coinbase First Quarter 2025 earnings call. All lines have been placed on mute to prevent any background noise. After the speaker's remarks, there will be a question and answer session. If you would like to ask a question during this time, simply press star followed by the number one on your telephone keypad. If you'd like to withdraw your question, press star one again. Anil Gupta, Vice President Investor Relations, you may begin your conference. Good afternoon and welcome to the Coinbase first quarter 2025 earnings call. Joining me on today's call are Brian Armstrong, co-founder and CEO, Emily Choi, president and COO, Alicia Haas, CFO, and Paul Grewal, chief legal officer. I hope you've all had the opportunity to read our shareholder letter, which was published on our Investor Relations website earlier today. Before we get started, I'd like to remind you that during today's call, we may make forward-looking statements, which may vary materially from actual results. Information concerning risks, uncertainties, and other factors that could cause these results to differ is included in our SEC filings. Our discussion today will also include certain non-GAAP financial measures. Reconciliations to the most directly comparable GAAP financial measures are provided in our shareholder letter on our investor relations website. Non-GAAP financial measures should be considered in addition to, not as a substitute for, GAAP measures. We'll start today's call with opening comments from Brian and Alicia, and then take questions from retail shareholders and our research analysts. And with that, I'll turn it over to Brian for opening comments. Thanks, Ani...