CoinSwitch turns profitable in FY26 on adjusted EBITDA as revenue jumps 150%
The company’s revenue growth significantly outpaced the expansion of its cost base, driven by strong operating leverage and disciplined scaling.
CoinSwitch, a crypto investing and trading platform, reported profitability in FY26 on an adjusted EBITDA basis after revenue jumped by 150% year-over-year to Rs 324.19 crore. Adjusted EBITDA surged over 50 times to Rs 86.38 crore, with a margin expanding significantly to 27% from just 1% in the previous fiscal. Revenue growth outpaced the increase in costs, with operating costs rising by 37% to Rs 270.07 crore compared to the prior year.
The company's operating leverage allowed a larger portion of the revenue increase to directly contribute to profitability. CoinSwitch's cost base expanded at a slower pace than revenue, enabling a substantial share of revenue growth to translate into higher operating earnings. Employee revenue per head more than doubled in FY26 despite an 11% increase in headcount, showcasing disciplined scaling and enhanced operational efficiency.
CoinSwitch's co-founder, Ashish Singhal, attributed the success to the company's nine-year history of building a scalable yet disciplined business. The firm continued to invest in technology, product, security, and customer experience while focusing on educational initiatives to simplify crypto for new investors and improve overall understanding.
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