Q2 2026 Coincheck Group NV Earnings Call Transcript
Key Points
- Coincheck Group NV (CNCK) reported a 58% quarter-over-quarter revenue growth, driven by a 54% increase in marketplace trading volume.
- The company achieved a net profit of JPY355 million (USD2.4 million) in the second quarter, a significant improvement from a net loss in the previous quarter.
- Verified user accounts grew by 15% year over year, indicating strong customer growth and platform appeal.
- The Ethereum staking award initiative showed strong momentum with a 108% growth in revenue from the previous quarter.
- Successful acquisitions of Next Finance Tech Company Limited and Aplo SAS, expanding Coincheck's presence in Europe and enhancing its strategic growth plans.
- Total selling, general, and administrative expenses increased year over year, primarily due to additional professional fees and costs associated with being a public company.
- Share-based compensation expense rose to JPY321 million (USD2.2 million) in the fiscal 2026 second quarter, adding to overall expenses.
- Despite revenue growth, the gross margin percentage saw a sequential decline, indicating potential pressure on profitability.
- The company faces ongoing market volatility and uncertainty in the crypto markets, which could impact future performance.
- Japan's proposed comprehensive tax reforms and reclassification of cryptocurrency assets could pose regulatory challenges, although they are seen as potential growth catalysts.
Good afternoon and welcome to Coincheck Group NV's fiscal year 2026 second quarter earnings conference call covering the period from April 1, 2025 through September 30, 2025.
With us today are Gary Simonson, Chief Executive Officer of Coincheck Group NV, and Jason Sandberg, Chief Financial Officer of Coincheck Group NV.
Before we begin our prepared remarks, I'd like to remind everyone that our discussion today will include forward-looking statements. Such forward-looking statements are not guarantees of future performance. Actual results may differ materially from those expressed or implied in the forward-looking statements due to a variety of factors. These factors are discussed in more detail in our filings with the SEC, including our filings related to the second quarter of fiscal 2026. Such factors may be updated from time to time in our periodic filings with the SEC and we do not undertake any obligation to update forward-looking statements.
Additionally, throughout this conference call, we will also present and discuss non-IFRS financial measures. Reconciliations of our
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