Coincheck Group NV (Nasdaq: CNCK), the Dutch holding company of Japan's leading crypto exchange Coincheck, has reported its financial results for the first quarter of the fiscal year ending March 31, 2026. The company experienced a 12% increase in total revenue, reaching ¥84.0 billion ($583 million), up from ¥75.3 billion ($522 million) in the first quarter of fiscal 2025. However, the gross margin saw a decrease of 13%, falling to ¥2,701 million ($19 million) from ¥3,118 million ($22 million) in the same period the previous year. Coincheck Group reported a net loss of ¥1,377 million ($9.5 million) for the first quarter of fiscal 2026, contrasting with a net profit of ¥436 million ($3.0 million) in the first quarter of fiscal 2025. Factors contributing to the net loss included share-based compensation of ¥298 million ($2.1 million), a 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). Additionally, the company reported a negative Adjusted EBITDA of ¥399 million ($2.8 million) for the first quarter of fiscal 2026, compared to a positive ¥1,014 million ($7.0 million) in the first quarter of fiscal 2025. Quarter-over-quarter, total revenue decreased by 27% from ¥114.6 billion ($795 million) in the fourth quarter of fiscal 2025 to ¥84.0 billion ($583 million) in the first quarter of fiscal 2026.