The widespread adoption of digital currencies, as well as the rise in institutional investments, have driven these exponential gains.
The company reported revenue growth of 844% year over year in Q1, as sales surged to US$1.8 billion, compared to its prior-year revenue of just US$191 million.
In the March quarter, Coinbase has forecast adjusted EBITDA at over a billion dollars, indicating a margin of almost 60%.
On the flip side, when markets turn bearish, trading activity declines by a significant margin which in turn will impact Coinbase revenue.
One Canadian company that has massive growth prospects is GreenPower Motors space and has already surged 1,230% in the last year.
This has allowed GreenPower to lower manufacturing and operating costs significantly and it’s now expected to report an adjusted profit by the end of fiscal 2022.
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