The latest data point for COIN's net income in Q1'26 shows a loss of $394M USD, marking a continued downturn from the previous quarter's $667M USD loss in Q4'25 and reversing the profitability seen earlier in the year. Over the period from Q2'23 to Q1'26, net income exhibited high volatility, starting with losses of $97M USD in Q2'23 and $2M USD in Q3'23 before swinging to strong profits, peaking at $1.4B USD in Q2'25, driven by significant YoY growth rates up to 38.6% in that quarter. Notable inflection points include a sharp turnaround to profitability in Q4'23 ($273M USD) and Q1'24 ($1.2B USD), followed by fluctuations with YoY declines accelerating in late 2025, reaching -7.0% in Q1'26, suggesting potential challenges in sustaining earlier momentum amid market pressures. This bar chart for absolute net income paired with a line overlay for YoY percentage changes highlights the erratic trend, with overall growth from early losses to mid-period highs but recent stabilization in negative territory.