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CoinSwitch swings to profitability in FY26 as crypto platform’s revenue climbs 150% to Rs 324 crore
In this news:
Key takeaways
- CoinSwitch turned profitable on an adjusted EBITDA basis in FY26.
- Revenue surged 150% year-on-year to Rs 324.19 crore during the fiscal year.
- Adjusted EBITDA rose more than 50-fold to reach Rs 86.38 crore.
Revenue and profitability growth
Crypto investing and trading platform CoinSwitch turned profitable on an adjusted EBITDA basis in FY26, as revenue surged 150% year-on-year to Rs 324.19 crore, according to the company. Adjusted EBITDA rose more than 50-fold to Rs 86.38 crore in FY26 from Rs 1.65 crore a year earlier. The adjusted EBITDA margin consequently expanded to 27% from 1% in FY25.
The company’s revenue increased by Rs 194.49 crore during the year, while operating costs rose by Rs 73.17 crore, or 37%, to Rs 270.07 crore. CoinSwitch said the slower increase in its cost base helped drive operating leverage and allowed a larger share of incremental revenue to translate into operating profitability.
Operational efficiency and leadership remarks
Revenue per employee more than doubled during FY26, even as the employee base expanded 11%, the company said. CoinSwitch added that it continued to invest in technology, products, security and customer experience while maintaining discipline on operating costs.
Ashish Singhal, Co-founder of CoinSwitch, said, “Nine years of building a company teaches you that growth is only one part of the story. The harder part is building a business that can scale without losing discipline. In FY26, we grew revenue 150% while operating costs grew 37%. That is something I am particularly proud of because it reflects the choices we have made as a team over the years, where we invest, where we stay lean and what we stay focused on. We have built a much stronger business today than we had a year ago, and we are going into the next phase with a lot more confidence in what we can build.”
User base and educational initiatives
While the platform continued to grow its active user base, it also expanded its focus on educational initiatives designed to simplify crypto for first-time users and improve users’ understanding of the asset class, CoinSwitch said.
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