It is indisputable that coopetition exerts an influence on firm performance. However, a critical question persists: How should we comprehensively measure the performance of coopetition itself?. This paper addresses the inconsistencies in understanding coopetition performance by proposing a comprehensive and multi-dimensional approach to its operationalization. The methodology employed to develop an operationalization framework covered field and desk research implemented sequentially. The first stage used a meta-systematic literature review to identify how coopetition performance has been operationalized and measured in quantitative studies to date. The second stage used online focus group interviews to verify and develop the findings from the desk research. This stage aimed to gain a shared approach to the understanding and operationalization of coopetition performance based on discussion and confrontation of the literature with the (consistent, inconsistent, but also contradictory) opinions of experienced coopetition researchers. This study offers a noteworthy contribution by presenting a definition and five specific recommendations for the operationalization of coopetition performance, and highlighting approaches to be avoided. These findings enhance our comprehension of the coopetition performance construct, thereby advancing the knowledge in the field.