Coinbase Global, Inc. (COIN) Q3 2025 Earnings Call

Investor webinar replay

Watch the replay and follow the connected company analysis, news, and investor updates for Coinbase Global, Inc..

Watch the replay

Replay transcript excerpt

WEBVTT 00:00:00.031 -- 00:00:03.998 Good afternoon, and welcome to the Coinbase Third Quarter 2025 Earnings Call. 00:00:03.998 -- 00:00:08.666 My name is Anil Gupta, and I'm Vice President of Investor Relations at Coinbase. 00:00:08.666 -- 00:00:13.313 Joining me on today's call are Brian Armstrong, co-founder and CEO, Emily Choi, President 00:00:13.313 -- 00:00:19.343 and COO, Alicia Haas, CFO, and Paul Graywall, Chief Legal Officer. 00:00:19.343 -- 00:00:23.350 During today's call, we may make forward-looking statements, which may vary materially 00:00:23.350 -- 00:00:25.445 from actual results. 00:00:25.445 -- 00:00:29.089 Information concerning risks, uncertainties, and other factors that could cause these 00:00:29.089 -- 00:00:33.153 results to differ is included in our SEC filings. 00:00:33.153 -- 00:00:36.717 Our discussion today will also include certain non-GAAP financial measures. 00:00:36.717 -- 00:00:40.881 Reconciliations to the most directly comparable GAAP financial measures are provided 00:00:40.881 -- 00:00:44.925 in the shareholder letter on our Investor Relations website. 00:00:44.925 -- 00:00:48.890 Non-GAAP financial measures should be considered in addition to, not as a substitute 00:00:48.890 -- 00:00:53.464 for, GAAP measures. We'll start today's call with opening comments from Brian and Alicia, 00:00:53.464 -- 00:00:58.231 and then take questions from our retail shareholders and our research analysts. 00:00:58.231 -- 00:01:01.834 With that, I'll turn it over to Brian for opening comments. 00:01:02.238 -- 00:01:05.463 Thanks, Anil. It was another great quarter for Coinbase. 00:01:05.463 -- 00:01:08.948 We continued to drive strong financial performance and build the everything exchange 00:01:08.948 -- 00:01:14.256 that we announced last quarte...