Coinbase (COIN) Reports Insane Growth Ahead of Direct Listing IPO

April 6, 2021 5:25 PM EDT

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Into its NASDAQ direct listing IPO, cryptocurrency broker Coinbase Global, Inc. (pending ticker: COIN) issued some impressive first-quarter numbers.

  • Coinbase announced that it now has 56 million verified users at March 31, 2021, up from 43 million at the end of 2020.
  • The company had Monthly Transacting Users (MTUs) of 6.1 million, up from 2.8 million at the end of 2020.
  • Trading volume was $335 billion in the quarter, which was more than the $193.1 billion for ALL of 2020.
  • Total Revenue was approximately $1.8 billion during the quarter, which is more than the $1.28 billion reported for ALL of 2020 and up 944% from the first quarter of 2020.
  • Net Income was approximately $730 million to $800 million, more than double the $322.3 million in ALL of 2020.
  • Adjusted EBITDA was approximately $1.1 billion, more than double the $527.35 million in ALL of 2020.

‚ÄčThe direct listing IPO is expected on April 14.

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