Coincheck Group (CNCK) Q2 2026 earnings summary

Executive summary

• Total revenue for Q2 FY2026 rose 89% year-over-year to JPY 133.1 billion ($899.5 million), and 58% sequentially, driven by a 54% increase in marketplace trading volume and 15% verified user growth.

• Net profit reached JPY 355 million ($2.4 million), reversing a net loss from the previous quarter and up from JPY 15 million ($0.1 million) year-over-year, reflecting improved profitability and cost optimization.

• Adjusted EBITDA was JPY 1,486 million ($10 million), up from JPY 250 million ($1.7 million) year-over-year and negative JPY 399 million ($2.7 million) in Q1 FY2026.

• Completed the acquisition of Aplo SAS, expanding into Europe and enhancing institutional client reach, and continued integration of Next Finance Tech.

• Strategic partnership with Mercari/Mercoin aims to broaden customer access and accelerate growth in Japan.

Financial highlights

• Gross margin increased 92% year-over-year to JPY 3.9 billion ($26 million) and 44% quarter-over-quarter.

• Marketplace trading volume rose 72% year-over-year and 54% quarter-over-quarter to JPY 94.7 billion ($640 million).

• Net income improved to JPY 355 million ($2.4 million) from JPY 15 million ($0.1 million) year-over-year.

• Adjusted EBITDA was JPY 1,486 million ($10 million), up from JPY 250 million ($1.7 million) year-over-year.

• Staking revenue more than doubled to JPY 794 million ($5.4 million) quarter-over-quarter.

Outlook and guidance

• Continued focus on expansion in Japan and internationally, with ongoing evaluation of strategic acquisitions.

• Anticipates Japan's upcoming tax reforms and crypto asset reclassification as catalysts for market growth and transparency.

• Encouraged by recent performance and October KPIs, expressing optimism for both near- and long-term prospects.

• Forward-looking statements caution on risks from market volatility, regulatory changes, and execution of growth strategies.