Coincheck Group N.V. (Nasdaq: CNCK), the Netherlands-based holding company of one of Japan’s leading digital asset trading platforms, returned to quarterly profitability as it prepares for a transition in its executive leadership.
The company reported third-quarter revenue of $915 million, a 17% increase from $785 million in the same period a year earlier. Net income was $2.6 million compared with a $98.5 million net loss in Q3 fiscal 2025, while adjusted EBITDA declined 38% to $9.1 million from $14.7 million, driven primarily by lower marketplace trading volume, which fell 25% to $559 million, according to a statement.
The revenue growth was supported by the first full quarter of contributions from Aplo, a Paris-based institutional prime brokerage Coincheck acquired last October, which added $83 million to the top line, the company said.
Per the statement, customer assets totaled $6 billion in Q3, down 17% from a year earlier and 20% from the prior quarter. Coincheck said the quantity of digital tokens held by customers remained relatively stable during the quarter, with the decline in asset values attributable to price decreases in bitcoin, ether and XRP.
Leadership change
Coincheck said Gary Simanson, who oversaw the company’s Nasdaq listing and its recent suite of acquisitions, will exit his role at the close of the fiscal year on March 31.
Incoming CEO Pascal St-Jean, who joined as chief growth officer in November and serves as CEO of Canadian digital asset manager 3iQ Corp., is tasked with scaling the group’s institutional presence through B2B and B2B2C partnerships involving the company’s newly integrated subsidiaries, according to the statement.
Coincheck on Jan. 8 entered a stock purchase agreement with majority shareholder Monex Group to acquire approximately 97% beneficial ownership of 3iQ.
The transaction values 3iQ at $111.8 million and will be settled through the issuance of 27.1 million new Coincheck ordinary shares valued at $4.00 per share, the company said in January.
Minority shareholders holding the remaining 3% have joined the transaction, with the company now set to acquire approximately 99.8% ownership. The deal is expected to close in the second calendar quarter of 2026, subject to regulatory approvals and confirmatory due diligence.
© 2026 The Block. All Rights Reserved. This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.
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