CoinGecko entity grows revenue by 72% in 2024, but profit stalls

CoinGecko, a data aggregator that tracks price movements of digital assets globally, remained profitable through the bear market of 2022 by bootstrapping and keeping costs low.

In 2024, revenue for CoinGecko’s Malaysian entity, Gecko Labs Sdn Bhd, jumped 71.9%, though profits narrowed slightly that year, according to audited financial filings.

CoinGecko co-founders TM Lee and Bobby Ong / Photo credit: CoinGecko

CoinGecko COO and co-founder Bobby Ong clarifies that the figures for the Malaysian entity represents only a part of the company’s overall operations. The 2024 financial performance of the firm’s ultimate holding company, which is registered in Singapore, is currently undergoing an audit.

The company has also pared down an earlier projection of achieving US$100 million in annual revenue by 2026 as it reassesses a “more sustainable and realistic growth trajectory,” Ong tells Tech in Asia.

Despite this, CoinGecko, as a whole, met internal revenue targets for both 2023 and 2024 and is on track for its 2025 goal, Ong adds, without giving specific numbers.

Profitability pressure

In 2024, the revenue of CoinGecko’s Malaysian entity climbed to US$5.6 million.

Advertising and affiliate partnerships – which include its API business – remained CoinGecko’s primary revenue drivers in 2024, Ong shares. This accounted for about 75% of its total annual revenue and marked a slight uptick from 70% in 2023.

Despite the revenue surge, profit before taxes for the entity remained flat in 2024. It even showed a slight dip as expenses grew following the spur in revenue.

Ong attributes the 2024 revenue growth to a combination of favorable market conditions and groundwork laid in previous years.

The crypto market was mostly upbeat in 2024. Bitcoin prices climbed as users took the US government’s approval of spot bitcoin ETFs as a green light on the digital asset, he notes.

Ong adds that this change brought more visitors to CoinGecko and made the site more attractive to advertisers. Website traffic almost tripled from May 2024 through May 2025, according to SimilarWeb.

The firm has also continued to invest in improving its product, educational content, search engine optimization, and operational efficiency, Ong says.

A key catalyst for growth in 2024 was the surge in on-chain user activity on decentralized exchanges (DEXs). This boosted the operations of CoinGecko’s own DEX aggregator, GeckoTerminal, which it unveiled in 2022.

Spurring profits

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