Coinbase (Q4) reported a strong 2024, with total revenue more than doubling to $6.6 billion and adjusted EBITDA at $3.3 billion.
Subscription and services revenue increased 64% year-over-year to $2.3 billion, driven by USDC, staking, and Coinbase One. International revenue share reached 19% in Q4 due to improved payment rails and localization.
The company aims to grow revenue with existing products, drive utility in new crypto categories, and build foundations for the next decade of growth. A key focus is making USDC the No. 1 dollar stablecoin and solidifying Base as the top chain for startups.
Coinbase is also prioritizing landmark crypto legislation and scaling back-end services. Q1 transaction revenue is approximately $750 million year-to-date, with subscription and services revenue expected to range from $685 million to $765 million.