Coinbase vs Robinhood — Free Cash Flow Comparison

Coinbase (COIN) free cash flow was $610M in FY2023 (+137% YoY); Robinhood (HOOD) free cash flow was $1.6B in FY2025 (+865% YoY). The tables below show the complete quarterly and annual free cash flow history, sourced from SEC EDGAR 10-K and 10-Q filings.

Fiscal Year	Coinbase	Robinhood
2025	—	$1.6B
2024	—	-$207M
2023	$610M	$1.2B
2022	-$1.6B	-$909M
2021	$4.0B	-$968M
2020	$275M	$1.8B
2019	-$121M	$1.2B

Coinbase — Annual Free Cash Flow

Fiscal Year	Free Cash Flow	YoY
2023	$610M	+137%
2022	-$1.6B	-142%
2021	$4.0B	+1340%
2020	$275M	+327%
2019	-$121M

Robinhood — Annual Free Cash Flow

Fiscal Year	Free Cash Flow	YoY
2025	$1.6B	+865%
2024	-$207M	-118%
2023	$1.2B	+228%
2022	-$909M	+6%
2021	-$968M	-152%
2020	$1.8B	+48%
2019	$1.2B

Source: COIN on EDGAR · HOOD on EDGAR. Data from SEC EDGAR 10-K and 10-Q filings. Updated quarterly.