Coinbase Global
Q4 2022 Earnings Call
Feb 21, 2023, 5:30 p.m. ET
Contents:
- Prepared Remarks
- Questions and Answers
- Call Participants
Prepared Remarks:
Operator
Good afternoon. My name is Paula, and I will be your conference operator today. At this time, I would like to welcome everyone to the Coinbase fourth quarter and full year 2022 earnings call. [Operator instructions] Anil Gupta, vice president, investor Relations, you may begin your conference.
Anil Gupta -- Vice President, Investor Relations
Good afternoon, and welcome to the Coinbase fourth quarter and full year '22 earnings call. Joining me on today's call are Brian Armstrong, co-founder and CEO; Emilie Choi, president and COO; Alesia Haas, CFO; and because regulatory questions may be top of mind, Paul Grewal, chief legal officer, is also joining today. I hope you've all had the opportunity to read our shareholder letter, which was published on our investor relations website earlier today. Before we get started, I'd like to remind you that during today's call, we may make forward-looking statements.
Actual results may vary materially from today's statements. Information concerning risks, uncertainties and other factors that could cause these results to differ is included in our SEC filings. Our discussion today will include references to certain non-GAAP financial measures. Reconciliations to the most directly comparable GAAP financial measures are provided in our shareholder letter and on our investor relations website.
Non-GAAP financial measures should be considered in addition to, not as a substitute for, GAAP measures. We are once again using Say Technologies to enable our shareholders to post questions. And in addition to that, we will be taking some live questions from our research analysts. So with that, I'll turn it over to Brian and Alesia for opening comments.
Brian Armstrong -- Co-Founder and Chief Executive Officer
Thanks, Anil. So I want to touch on three themes in my opening comments. The first one is going to be about how we're reducing our opex to operate more efficiently and better generate EBITDA in the future. The second theme is going to be about the recurrent regulatory environment.
And the third theme is going to be about where we are in this crypto cycle. So let's start with our reductions in opex. When Coinbase went public, our goal was to operate at roughly breakeven across crypto cycles, but the market has changed, and so we're evolving along with that. We're now evolving the business with a goal to generate adjusted EBITDA in all market conditions.