Coincheck returns to profit in Q3, CEO to step down March 31

Coincheck reported Q3 revenue of $915 million, up 17% year over year, and posted net income of $2.6 million, reversing a $98.5 million net loss in the same period last year.

Adjusted EBITDA fell 38% to $9.1 million as marketplace trading volume dropped 25% to $559 million. Customer assets stood at $6 billion, down 17% from a year earlier and 20% from the prior quarter, mainly due to price declines in Bitcoin, Ether, and XRP. Revenue was partly boosted by Aplo, a Paris-based institutional prime brokerage acquired last October, which contributed $83 million.

CEO Gary Simanson will resign effective March 31. He will be succeeded by Pascal St-Jean, CEO of 3iQ Corp., starting April 1.

The company also moved to increase its ownership in 3iQ through a stock purchase agreement with majority shareholder Monex Group, valuing 3iQ at about $111.8 million, with deal completion expected in Q2 2026 pending approvals.