Coinbase Q1 Earnings Hit Highs, but Still Miss Mark May 14, 2021 Coinbase (COIN) released its Q1 earnings in a letter to shareholders yesterday that saw quarterly profits soar, even as the company still fell short of expectations in several key metrics, according to CNBC. Net profits rose to over $771 million, more than four times what the company reported at the end of 2020, with a net revenue of $1.8 billion. Strong User Growth, Higher Asset Prices Coinbase hit other highs in its letter to shareholders, particularly in its user growth: monthly transacting users more than doubled to 6.1 million, up from 2.8 million in Q4 of 2020. Verified users were over 56 million.