Synopsis
CoinSwitch achieved profitability based on Adjusted EBITDA for FY26, with revenue growth of 150%. The company’s revenue reached Rs 324.19 crore, leading to an Adjusted EBITDA margin increase to 27%. Operating costs increased by 37%, contributing to improved operating leverage. The platform focused on expanding its active user base and educating newcomers about crypto. CoinSwitch now serves over 2 crore users and supports more than 450 digital assets.
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.
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 .