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Coincheck Group (CNCK) investor relations material
Coincheck Group Q3 2026 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Executive summary
Fiscal 2026 Q3 delivered stable core profitability and a 17% year-over-year revenue increase to $915 million, despite global crypto market volatility and declining asset prices, supported by disciplined risk management and limited crypto asset exposure.
Verified user accounts rose 13% year-over-year to 2.5 million, maintaining the top position in crypto app downloads in Japan for seven consecutive years.
The company is executing a global expansion strategy, highlighted by the pending acquisition of 3iQ Corp and recent acquisitions of Aplo and Next Finance Tech.
Leadership transition announced: CEO Gary Simanson to step down, with Pascal St-Jean to become CEO effective April 1, 2026, as part of a strategic shift toward institutional growth.
Financial highlights
Net income for Q3 FY2026 was $2.6 million, a turnaround from a $98.5 million net loss in Q3 FY2025, with adjusted EBITDA at $9.1 million, down from $14.7 million in Q3 FY2025.
Total revenue for Q3 FY2026 was $915 million, up from $785 million in Q3 FY2025, a 17% year-over-year increase.
Gross margin decreased 20% year-over-year to $24 million, mainly due to lower trading volumes, with a gross margin rate of 2.7%.
Marketplace trading volume dropped 25% year-over-year to $559 million.
Customer assets under custody fell 17% year-over-year to $6.04 billion, reflecting crypto price declines.
Cash and cash equivalents at quarter-end were $67.9 million.
Outlook and guidance
Management expects continued growth in both Japanese retail and global institutional markets, with optimism around regulatory changes in Japan and a focus on integrating recent acquisitions.
The pending acquisition of 3iQ is expected to close in the second calendar quarter of 2026, expanding institutional capabilities.
Capital markets flexibility enhanced by a $200 million shelf registration, providing optionality for future fundraising.
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