The cryptocurrency trading and investment platform CoinSwitch has become profitable based on adjusted EBITDA in the 2026 fiscal year. This was the result of significant improvements in operational performance, as the company's revenue increased by 150% compared to the previous year, reaching 324.19 crore rupees.
Adjusted EBITDA grew by more than 50 times, amounting to 86.38 crore rupees compared to 1.65 crore rupees in the 2025 fiscal year. Meanwhile, the adjusted EBITDA margin sharply rose from 1% to 27%.
According to the company, revenue growth significantly outpaced the increase in the cost base. For the 2026 fiscal year, CoinSwitch's revenue increased by 194.49 crore rupees, while operating expenses only grew by 37%, reaching 270.07 crore rupees compared to the previous year.
Revenue grew more than four times faster than operating costs, which provided substantial operating leverage and allowed most of the revenue increase to be directly converted into operating profit. Revenue per employee in the 2026 fiscal year more than doubled, despite the workforce increasing by 11%, indicating disciplined scaling and improved operational efficiency.
Ashish Singhal, co-founder of CoinSwitch, noted that nine years of building the company teach that growth is only part of the story; a more complex task is creating a business capable of scaling without losing discipline. He added that the 150% revenue growth with only a 37% increase in operating expenses in the 2026 fiscal year is a source of particular pride, as it reflects the decisions made by the team regarding investments, maintaining frugality, and staying focused. The company is now a much stronger business than a year ago and enters the next phase with greater confidence in its capabilities.
Throughout the year, CoinSwitch continued to invest in technology, products, security, and customer experience while maintaining strict discipline regarding operating expenses. In addition to expanding the active user base, the platform deepened its focus on educational initiatives aimed at simplifying cryptocurrency for new investors and improving the overall understanding of this asset class across the entire user ecosystem.