Coinshares, which is a digital asset investment firm, released its quarterly financials for the first three months of 2022, reporting a pullback in its financials. The total revenue of the firm between January and March came in at £27.96 million, down from the previous year’s £39.91 million.
The adjusted EBITDA of the company also went down by more than 45.3 percent in a year to £18.7 million. The total comprehensive income also came down to £20.2 million, again a decline of 37 percent.
“CoinShares has delivered a good first quarter with strong financial and operational progress,” said Coinshares CEO, Jean-Marie Mognetti on the contrary. “We delivered resilient adjusted EBITDA…, all while making considerable steps to advance our long-term strategy.”
He elaborated that the company is working towards “imminent uplisting to Stockholm’s main market, significantly growing our headcount, including a new Group Head of Marketing and a dedicated team to support the Group’s enlarged footprint, and integrating our consumer platform, Napoleon.”
Earlier, the company also increased its stake in Switzerland-based FlowBank as a part of its strategic investment in the industry.
Shrinking AUM
Coinshares further detailed that its ETP assets under management (AUM) by the end of March stood at £3.07 billion, down from Q1 2021’s £3.4 billion. The AUM of its Blockchain Global Equity Index came at £0.88 billion at the end of the period.
The asset investment firm further said that its net asset position by the end of March was at £221 million, compared to £200.5 million in the previous quarter.
“We are continuing to invest in our long-term future, and the Group is well-positioned to navigate the shifting global regulatory landscape for digital assets in 2022,” said Mognetti.
Coinshares, which is a digital asset investment firm, released its quarterly financials for the first three months of 2022, reporting a pullback in its financials. The total revenue of the firm between January and March came in at £27.96 million, down from the previous year’s £39.91 million.
The adjusted EBITDA of the company also went down by more than 45.3 percent in a year to £18.7 million. The total comprehensive income also came down to £20.2 million, again a decline of 37 percent.
“CoinShares has delivered a good first quarter with strong financial and operational progress,” said Coinshares CEO, Jean-Marie Mognetti on the contrary. “We delivered resilient adjusted EBITDA…, all while making considerable steps to advance our long-term strategy.”
He elaborated that the company is working towards “imminent uplisting to Stockholm’s main market, significantly growing our headcount, including a new Group Head of Marketing and a dedicated team to support the Group’s enlarged footprint, and integrating our consumer platform, Napoleon.”
Earlier, the company also increased its stake in Switzerland-based FlowBank as a part of its strategic investment in the industry.
Shrinking AUM
Coinshares further detailed that its ETP assets under management (AUM) by the end of March stood at £3.07 billion, down from Q1 2021’s £3.4 billion. The AUM of its Blockchain Global Equity Index came at £0.88 billion at the end of the period.
The asset investment firm further said that its net asset position by the end of March was at £221 million, compared to £200.5 million in the previous quarter.
“We are continuing to invest in our long-term future, and the Group is well-positioned to navigate the shifting global regulatory landscape for digital assets in 2022,” said Mognetti.
Source: https://www.financemagnates.com/cryptocurrency/news/coinshares-sees-decline-in-q1-revenue-ebitda-slides-45/