(RTTNews) - Coincheck Group N.V. (CNCK), a Dutch public limited liability company and the holding company of Japanese crypto exchange Coincheck, Inc., on Thursday reported financial results for the third quarter. The company swung to a profit in the quarter as revenues grew 17%.
Total revenue increased 17%, to 143.5 billion yen or $915 million in the third quarter from 123.1 billion yen or $785 million in the third quarter last year.
Gross margin decreased 20%, to 3.83 billion yen or $24 million in the third quarter from 4.79 billion or $31 million in the third quarter, mainly as a result of a decrease in Marketplace Trading Volume, partially offset by an increase in IEO revenue.
Net income for the quarter was 405 million yen or $2.6 million in the third quarter, compared to net loss of 15.44 million yen or $98.5 million in the third quarter last year.
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