Coinbase (COIN): FY25 Q4 earnings call, Feb 12, 2026
On its Feb 12, 2026 earnings call (FY25 Q4), Coinbase said 13 of the 15 words Kalshi and Polymarket listed; Parrot’s count agreed with all 15 settlements. Quotes below are at most 25 words each.
UpdatedMarkets
15 words · 13 settled yes · our count agreed on 15 of 15- Kalshi: company speakers + operator
Kalshi - Polymarket: anyone
Polymarket
backtest The probabilities on settled rows are a walk-forward backtest: the model as of before each event, computed after Parrot went live; they were not published at the time.
| Word | Result | Our count | All speakers | Agrees | Probability | Market |
|---|---|---|---|---|---|---|
| Stablecoin | Yes | 34 | 34 | ✓ | 97%n=2+tx from settlement history blended with transcripts | – |
| Subscription | Yes | 10 | 10 | ✓ | 92%n=2+tx from settlement history blended with transcripts | – |
| Bitcoin | Yes | 6 | 6 | ✓ | 93%n=2+tx from settlement history blended with transcripts | – |
| Ethereum / ETH | Yes | 5 | 5 | ✓ | 86%n=1+tx from settlement history blended with transcripts | – |
| Regulator / Regulatory / Regulation | Yes | 4 | 4 | ✓ | 95%n=2+tx from settlement history blended with transcripts | – |
| Custodial / Custody | Yes | 3 | 3 | ✓ | 94%n=2+tx from settlement history blended with transcripts | – |
| Regulator / Regulatory | Yes | 3 | 3 | ✓ | 94%transcripts from the transcript model | – |
| Staking / Stake | Yes | 3 | 3 | ✓ | 90%n=2+tx from settlement history blended with transcripts | – |
| SEC / Securities and Exchange Commission | Yes | 2 | 2 | ✓ | 91%n=2+tx from settlement history blended with transcripts | – |
| Institution / Institutional | Yes | 1 | 1 | ✓ | 96%n=2+tx from settlement history blended with transcripts | – |
| International | Yes | 1 | 1 | ✓ | 90%n=2+tx from settlement history blended with transcripts | – |
| Margin | Yes | 1 | 1 | ✓ | 87%n=2+tx from settlement history blended with transcripts | – |
| Decentralized Exchange / DEX | Yes | 1 | 1 | ✓ | 86%n=2+tx from settlement history blended with transcripts | – |
| Blockchain | No | 0 | 0 | ✓ | 88%n=2+tx from settlement history blended with transcripts | – |
| Web3 | No | 0 | 0 | ✓ | 41%n=2+tx from settlement history blended with transcripts | – |
Market prices are mid quotes from Kalshi and Polymarket, shown for context, may be delayed by several minutes and are not a signal. Quotes as of Oct 21, 2026 04:22 UTC.
Transcript
quotes of at most 25 wordsSpeaker-labelled transcript · Source and credits · Used to count words; quotes of at most 25 words.
6 matches for “Bitcoin”; 5 quoted, at least 25 words apart.
[Audio Gap] crypto prices, but Bitcoin remains the best-performing asset class of the past decade. We've been through cycles like this many times at Coinbase…
…the ability to continue investing in these market conditions. We'll keep buying Bitcoin. We'll continue to buy our stock back, and we won't stop building.…
…We fully offset our 2025 dilution from stock-based compensation, and we're buying Bitcoin. So let's dive into the details. Q4 total revenue was $1.8 billion,…
…the largest crypto deal of all times. We're deploying our money into Bitcoin purchases. We significantly grew our portfolio in 2025. We doubled the number…
…up and down. And so it gives us a chance to buy Bitcoin. It gives us a chance to buy back our stock. And we've…
Where the listed words were said
…is growing the Everything Exchange. Our second priority is that we're scaling stablecoins in payments. Stablecoins are the second killer app in crypto, and most…
…We now have 12 products doing over $100 million in annualized revenue. Subscription and services revenue hit all-time highs, up 5.5x from the peak in…
…of use cases. So it's -- our goal is to help it be really like the primary utility layer for crypto, all built on Ethereum.
…et cetera. What's Coinbase's view on the Base L2 value prop going forward in this respect? And how might potential DeFi regulations shape Base's future?
…and this is the broad term that we use for DeFi, self custodial wallets and full adoption of decentralized technology as opposed to centralized intermediaries.…
…this industry -- repatriate those reserves and bring it within the U.S. regulatory perimeter, they're going to have to be competitive and paying rewards is…
…is inflows to our assets on platform, where customers then in turn stake, they custody, they engage in USDC. So we're seeing growth in native…
…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…
…the most trusted brand in crypto, and we work with thousands of institutions, including 5 G-SIB banks and 150 government agencies. Just as one example,…
…in 2026. We have good momentum both across the U.S. and our international markets. We have momentum coming from the integration of options into our…
…been able to offer. So for example, we were early to offer DEX trading, which now allows us to have millions of crypto assets available…
Agents: this page as TSV at /api/v1/appearances/coinbase:2026-02-12:earnings_call · words: /api/v1/brief?appearance=coinbase:2026-02-12:earnings_call · columnar JSON in #parrot-data · llms.txt · MCP