Coinbase Global, Inc. (COIN) [Rocket]

In millions, except per share items	Dec-31-21	Dec-31-20	Dec-31-19
	10-K	10-K	10-K
Revenues:
Institutional, net	346.3	55.9	30.1
Net revenue	7,354.8	1,141.2	482.9
Other	138.4	80.4	20.7
Total revenues	7,839.4	1,277.5	533.7
Revenue growth [+]	513.7%	139.3%
Institutional, net	519.1%	85.9%
Net revenue	544.5%	136.3%
Other revenue	255.6%	168.4%
Cost of goods sold	0.0	0.0	0.0
Gross profit	7,839.4	1,277.5	533.7
Gross margin	100.0%	100.0%	100.0%
Selling, general and administrative [+]	2,841.0	472.2	338.1
Sales and marketing	663.7	56.8	24.2
General and administrative	2,177.3	415.4	314.0
Research and development	1,291.6	271.7	185.0
Other operating expenses	630.3	124.6	56.3
EBITDA [+]	3,140.2	439.9	-28.9
EBITDA growth	613.8%	-1621.9%
EBITDA margin	40.1%	34.4%	-5.4%
Depreciation	18.4	14.3	7.2
EBITA	3,121.9	425.7	-36.1
EBITA margin	39.8%	33.3%	-6.8%
Amortization of intangibles	45.3	16.7	9.7
EBIT [+]	3,076.6	409.0	-45.8
EBIT growth	652.3%	-993.2%
EBIT margin	39.2%	32.0%	-8.6%
Interest expense	29.2
Other income (expense), net	-20.5	0.2	0.4
Pre-tax income	3,026.9	409.2	-45.4
Income taxes	-597.2	86.9	-15.0
Tax rate		21.2%	33.1%
Net income	3,190.4	127.5	-30.4
Net margin	40.7%	10.0%	-5.7%

Basic EPS [+]	$17.99	$1.86	($0.50)
Growth	869.3%	-474.6%
Diluted EPS [+]	$14.50	$1.40	($0.50)
Growth	937.8%	-382.0%

Shares outstanding (basic) [+]	177.3	68.7	61.3
Growth	158.2%	12.0%
Shares outstanding (diluted) [+]	220.0	91.2	61.3
Growth	141.2%	48.7%

EBIT is a non-GAAP figure that excludes all non-recurring expenses: restructuring costs, asset impairments, IPR&D writeoffs, and other unusual charges.