From Nasdaq
June 11, 2025 12:38:00 PM:

Coinbase Global Inc. (COIN) is diversifying revenue streams with a focus on subscription and services to offset volatility in trading revenues. Stablecoin income and partnerships like Circle are driving growth, with subscription and services revenues contributing 36% to net revenues in Q1 2025. The recent acquisition of Derbit aims to further enhance revenue sources.

Competitors like Robinhood (HOOD) and Interactive Brokers Group (IBKR) also rely on subscription and services revenues to complement transaction income, supporting sustained growth. Interactive Brokers Group’s non-commission revenue streams play a crucial role in overall revenue growth, while Robinhood’s offerings continue to expand steadily.

COIN’s shares have gained 3.7% year to date, outperforming the industry average. However, the stock trades at a higher price-to-earnings ratio compared to the industry average, with a Value Score of F. Estimates for COIN’s EPS for Q2 and Q3 2025 have declined, but full-year 2025 and 2026 EPS estimates show mixed movements.

COIN’s subscription and services revenues are expected to reach $600-$680 million in Q2 2025. The company is focused on growing stablecoin income, staking services, and uptake of Coinbase One and custody solutions to drive long-term revenue growth. The consensus estimates for COIN’s 2025 and 2026 revenues indicate year-over-year increases.

Interactive Brokers Group, Inc. (IBKR) and Robinhood Markets, Inc. (HOOD) are competitors of COIN, each with their own strategies for revenue diversification and growth. COIN’s subscription and services revenues are expected to play a critical role in driving future revenue growth and enhancing business resilience.

Read more at Nasdaq: Will Coinbase’s Subscription & Services Revenues Fuel its Top Line?