Swissquote cut its 2026 revenue forecast by 30 million francs after crypto income fell 66% in the first half. Shares dropped 14% as investors weighed the weaker outlook against growth in non-crypto revenue.
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Swissquote Group lowered its full-year revenue and profit targets after cryptocurrency trading income collapsed in the first half of 2026. Shares of the Swiss fintech firm fell 14% on the news.
Net crypto income came in at 14.6 million Swiss francs ($18 million) for the six months ended June 30, down 66.2% from a year earlier. Crypto trading volume dropped 63.5% to 2.58 billion francs. The company also recorded a 5.3 million-franc loss on the digital asset inventory it holds to support its SQX exchange.
Swissquote cut its 2026 net revenue forecast by about 30 million francs to 730 million francs, blaming weaker-than-expected crypto prices. “The revised guidance now reflects a weaker-than-expected crypto environment,” the company said.
Bitcoin fell 33% during the half, Ether lost 47% and the CoinDesk 20 Index dropped roughly 40%. The broad selloff in digital assets compressed trading volumes and revenue across the sector, as detailed in recent crypto market analysis.
Non-crypto trading and interest income kept total revenue roughly flat and limited the damage to profitability. Client assets rose nearly 20% to 96.3 billion francs, suggesting continued growth in the firm's core banking and brokerage business.
Investors focused on the weaker outlook. The stock closed 14% lower, the biggest single-day drop in more than a year. The selloff erased roughly 400 million francs of market value.
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