Coincheck (CNCK) Cost of Revenue (2023 - 2026)
Coincheck's (CNCK) quarterly Cost of Revenue came in at $685.1 million in Q2 2026, up 21.51% year-over-year from $563.8 million in Q2 2025, and down 6.67% quarter-over-quarter from $734.1 million in Q1 2026.
Analysis
Coincheck (CNCK) Cost of Revenue (2023 - 2026) Analysis & Trends
Coincheck (CNCK) has reported Cost of Revenue for 4 consecutive years, with $685.1 million the latest figure, recorded in Q2 2026.
- On a quarterly basis, Cost of Revenue rose 21.51% year-over-year to $685.1 million in Q2 2026; TTM through Jun 2026 was $3.2 billion, a 26.59% increase from a year earlier, with the FY2026 full-year figure at $2.9 billion, up 21.14% from the prior year.
- Cost of Revenue was $685.1 million for Q2 2026 at Coincheck, down from $734.1 million in the prior quarter.
- Over five years, Cost of Revenue peaked at $890.4 million in Q4 2025 and troughed at $384.8 million in Q4 2023.
- A 4-year average of $654.6 million and a median of $685.1 million in 2026 frame the typical range for Cost of Revenue.
- Across the five-year window, Cost of Revenue surged 95.37% in 2024 and declined 0.89% in 2026, its largest moves.
- Over 4 years, Cost of Revenue stood at $384.8 million in 2023, then jumped by 95.37% to $751.8 million in 2024, then increased by 18.44% to $890.4 million in 2025, then dropped by 23.06% to $685.1 million in 2026.
- The last three Cost of Revenue figures came in at $685.1 million (Q2 2026), $734.1 million (Q1 2026), and $890.4 million (Q4 2025), per Business Quant data.
Peer Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Cost of Rev (Qtr) |
|---|---|---|---|---|---|
| 1 | Coinbase Global | 51.24 Bn | 42.45 Bn | 1.16 Bn | 59.69 Mn |
| 2 | Bullish | 5.78 Bn | 5.72 Bn | 15.53 Mn | 32.57 Bn |
| 3 | Cypherpunk Technologies | 663.58 Mn | 663.58 Mn | - | - |
| 4 | Canton Strategic Holdings | 498.79 Mn | 498.79 Mn | - | - |
| 5 | Bakkt | 387.06 Mn | 336.37 Mn | 2.21 Mn | 167.94 Mn |
| 6 | Coincheck | 264.39 Mn | 162.79 Mn | 11.20 Mn | 685.10 Mn |
| 7 | Wewards | 214.97 Mn | 214.97 Mn | - | - |
| 8 | Exodus Movement | 205.10 Mn | -149.98 Mn | - | - |
| 9 | Usbc | 197.95 Mn | 194.29 Mn | - | - |
| 10 | TON Strategy | 191.64 Mn | 191.61 Mn | - | - |
Historic Data
Download Data
Historic Data
| Date | Value |
|---|---|
| Jun 30, 2026 | 685.10 Mn |
| Mar 31, 2026 | 734.10 Mn |
| Dec 31, 2025 | 890.40 Mn |
| Sep 30, 2025 | 873.30 Mn |
| Jun 30, 2025 | 563.80 Mn |
| Mar 31, 2025 | 740.70 Mn |
| Dec 31, 2024 | 751.80 Mn |
| Sep 30, 2024 | 458.06 Mn |
| Jun 30, 2024 | 463.69 Mn |
| Mar 31, 2024 | 654.32 Mn |
| Dec 31, 2023 | 384.81 Mn |