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Coincheck Group (CNCK) investor relations material

Coincheck Group Q1 2026 earnings summary

Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.
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Q1 2026 earnings summary7 Aug, 2025

Executive summary

  • Revenue for Q1 FY2026 was ¥84B ($583M), up 12% year-over-year but down 27% sequentially due to a global crypto trading slowdown.

  • Net loss of ¥1.37B ($9.5M) compared to a net profit in the prior year, driven by lower trading volumes and higher expenses.

  • Customer assets reached ¥1T ($6.9B), up 34% year-over-year and 16% quarter-over-quarter; verified user accounts rose 14% year-over-year to 2.35M.

  • Strategic partnership with Mercoin (Mercari group) announced, expanding access to 23M monthly active users in Japan.

  • Marketplace trading volume declined 16% year-over-year and 33% sequentially.

Financial highlights

  • Gross margin decreased 13% year-over-year to ¥2.7B ($19M) due to lower trading volume.

  • Adjusted EBITDA was negative ¥399M ($2.8M), down from positive ¥1B ($7M) in the prior year.

  • Share-based compensation expense of ¥298M ($2.1M), mostly related to the December 2024 SPAC transaction and Nasdaq listing.

  • Cash and cash equivalents at quarter-end were ¥10.6B ($73.8M).

  • Loss from change in fair value of warrant liability of ¥223M ($1.5M) and transaction expenses of ¥143M ($1.0M) contributed to the net loss.

Outlook and guidance

  • Expectation that Ethereum staking via Next Finance Tech will become a larger revenue driver.

  • Regulatory changes in Japan and the US seen as positive for future growth and trading activity.

  • Ongoing focus on product innovation, global expansion, and segment diversification to mitigate market volatility.

  • Management highlighted ongoing strategic initiatives, including staking services and partnerships, but noted forward-looking statements are subject to significant market, regulatory, and operational risks.

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Frequently asked questions

Coincheck Group N.V. is a Netherlands-based holding company operating in the digital asset and blockchain sector. Through its subsidiaries, the company provides cryptocurrency exchange services, digital wallet solutions, and blockchain-related financial products. It serves individual and institutional clients with offerings such as cryptocurrency trading, custody, and payment services. The company is headquartered in Amsterdam, Netherlands, and its shares are listed on the NASDAQ.

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