Coincheck First Quarter FY3/2026 Financial Results
Coincheck Group reported a mixed first quarter for fiscal year 2026, characterized by a challenging crypto market that impacted trading revenues, but underscored by significant strategic progress and strong underlying growth in its user base and assets.
First, we did not make any money.
Gary Simanson, CEO Coincheck Group
Total revenue increased 12%, to ¥84.0 billion ($583 million) in the first quarter of fiscal 2026 from ¥75.3 billion ($522 million) in the first quarter of fiscal 2025. Net loss was ¥1,377 million ($9.5 million) in the first quarter of fiscal 2026 compared to Net profit of ¥436 million ($3.0 million) in the first quarter of fiscal 2025.
Components contributing to Net loss results in the first quarter of fiscal 2026 included share-based compensation of ¥298 million ($2.1 million), loss from the change in fair value of warrant liability of ¥223 million ($1.5 million) and total transaction expenses of ¥143 million ($1.0 million).
Despite the market headwinds, the company achieved several key milestones. Customer Assets surpassed the ¥1 trillion mark for the first time, growing 34% year-over-year. Verified Accounts also saw robust growth, increasing 14% year-over-year to 2.35 million.
Strategically, the quarter was highlighted by the announcement of a landmark partnership with Mercoin (a subsidiary of Mercari), Japan's largest C2C marketplace, which is expected to significantly expand Coincheck's customer base. The company's new staking service also gained significant traction, with revenue growing more than six-fold from the previous quarter. Management expressed optimism about the future, citing favorable regulatory developments in Japan and a clear strategy for global expansion.
