UP Fintech Holding Limited (TIGR) Q2 2025 Earnings Call Transcript
Total Revenue USD 139 million, representing a 58.7% year-over-year increase and a 13.1% quarter-over-quarter growth. Driven by growth in user base, client assets, and enhancements in product offerings.
Trading Volume USD 284 billion, a 90.1% year-over-year increase and an 11.1% quarter-over-quarter increase. Contributed to higher commission income.
Commission Income USD 64.8 million, increased 90% year-over-year and 11% quarter-over-quarter. Boosted by trading volume growth.
Margin Financing and Securities Lending Balance USD 5.7 billion, reflecting a 65.3% year-over-year growth. Driven by expanded user base and increased ARPU.
Net Interest Income USD 58.7 million, a 32.8% year-over-year increase. Benefited from expanded user base and increased ARPU.
Net Income Attributable to UP Fintech USD 41.4 million, up 36.2% from the previous quarter and 16x higher than the same quarter last year. Reflects improved profitability.
Non-GAAP Net Income USD 44.5 million, increasing 23.5% sequentially and 8.6x the number in the same quarter last year. Indicates strong operational performance.
Non-GAAP Net Profit Margin 32%, set another record high and has increased for 4 consecutive quarters. Reflects a more stable and healthier business model.
Total Client Assets USD 52.1 billion, up 13.5% quarter-over-quarter and 36.3% year-over-year. Driven by robust net asset inflows and mark-to-market gains.
New Funded Accounts 39,800 added in the quarter, with a 21.4% year-over-year increase in total funded accounts. Singapore and Hong Kong were primary contributors.
Interest Expense USD 17.3 million, increased 28% year-over-year. In line with the increase in interest income and margin and securities lending business.
Execution and Clearing Expense USD 5.4 million, increased 92% year-over-year. In line with the increase in commission and trading volume.
Employee Compensation and Benefits Expense USD 35.8 million, an increase of 25% year-over-year. Due to headcount increase in overseas offices and R&D.
Occupancy, Depreciation and Amortization Expense USD 2.7 million, increased 29% year-over-year. Due to the increase in office space and relevant leasehold improvements.
Communication and Market Data Expense USD 10.4 million, an increase of 18% year-over-year. Due to the increase in user base and IT-related service fees.
Marketing Expense USD 9.9 million, increased 54% year-over-year. Expanded marketing activities.
General and Administrative Expense USD 6.7 million, a decrease of 67% year-over-year. Last year included a onetime bad debt provision of $13.2 million.
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UPFintech Reports Q3 Revenue of $175.2M, Up 73.3% YoY
- Record Revenue: UPFintech achieved total revenue of $175.2 million in Q3, marking a 73.3% year-over-year increase and a 26.3% quarter-over-quarter rise, underscoring the company's strong performance amid market recovery and solidifying its leadership in the digital brokerage sector.
- Surge in Net Income: Non-GAAP net income reached $57.0 million, up 28.2% quarter-over-quarter and 2.8 times year-over-year, setting a new record that reflects a significant enhancement in the company's profitability and boosts investor confidence.
- Strong Client Growth: The company added 31,500 funded accounts, bringing the total to 1.22 million, an 18.5% year-over-year increase, indicating the success of its client acquisition strategy and further expanding its market share.
- Rising Trading Volume: Q3 trading volume hit $209.4 billion, up 28.5% year-over-year, demonstrating robust market activity that is expected to provide ongoing support for the company's future revenue growth.
UP Fintech Reports Q3 Revenue of $175.2M, Up 73.3% YoY
- Significant Revenue Growth: UP Fintech's total revenue for Q3 reached $175.2 million, reflecting a robust 73.3% year-over-year increase and a 26.3% quarter-over-quarter rise, underscoring the company's strong performance in the global investor market and solidifying its market position.
- Substantial Net Income Increase: The net income attributable to ordinary shareholders was $53.8 million, up 29.9% quarter-over-quarter and nearly three times that of the same quarter last year, indicating a significant enhancement in profitability that supports its sustainable growth strategy.
- Strong Customer Growth: The company added 31,500 new customers in Q3, with Singapore and Hong Kong contributing approximately 40% each, allowing UP Fintech to achieve its 2025 customer target ahead of schedule and further increasing its market share.
- Asset Scale Expansion: By the end of Q3, the total number of customers with deposits reached 1,224,200, an 18.5% increase year-over-year, while total account balances rose to $61 billion, up 49.7%, demonstrating the company's success in attracting and retaining client assets.
UPFintech Reports Q3 Revenue of $175.2M, Up 73.3% YoY
- Record Revenue: UPFintech achieved total revenue of $175.2 million in Q3, marking a 73.3% year-over-year increase and a 26.3% quarter-over-quarter rise, demonstrating strong growth momentum amid improving market conditions and solidifying its leadership in the digital brokerage market.
- Significant Profit Surge: Non-GAAP net income soared to $57.0 million, up 28.2% quarter-over-quarter and 2.8 times year-over-year, reflecting the success of the company's client acquisition and product diversification strategies, which bolster investor confidence.
- Notable Client Growth: The company added 31,500 funded accounts in Q3, bringing total clients to 1.22 million, an 18.5% year-over-year increase, indicating effective strategies in attracting high-quality clients and enhancing market share.
- Rising Trading Volume: Q3 trading volume reached $209.4 billion, up 28.5% year-over-year, showcasing increased user engagement and laying a solid foundation for future revenue growth.
UP Fintech Reports Non-GAAP EPADS of $0.31 and Achieves Record Revenue of $175.2 Million
Financial Performance: UP Fintech reported a Q3 Non-GAAP EPADS of $0.31 and revenue of $175.2 million, reflecting a 73.3% year-over-year increase. GAAP EPADS stood at $0.27, with net income attributable to shareholders reaching a record high of $57.0 million.
Growth in Commissions and Client Base: Commissions rose to $72.9 million, a 76.9% increase from the previous year, driven by higher trading volumes. Funded accounts grew by 31,500, totaling 1.22 million, an 18.5% increase year-over-year.
Market Activity and Client Assets: Trading volume in Q3 increased by 28.5% year-over-year to $209.4 billion, while total client assets reached a new peak of $61.0 billion, up 17.3% sequentially and 49.7% year-over-year.
Tiger Vault Growth: The "Tiger Vault" service in Hong Kong experienced significant growth, with assets under custody (AUC) increasing by 339% year-over-year.
Key Stocks Reporting Earnings This Week: Costco, MongoDB, Ulta, and Others
Upcoming Earnings Reports: Retail investors are anticipating a week of earnings reports from various companies, including MongoDB, CrowdStrike, and Salesforce, among others.
Analyst Expectations: Analysts have raised price targets for CrowdStrike ahead of its earnings report, with expectations of earnings of 94 cents per share and revenue of $1.21 billion.
Retail Sector Focus: Major retailers like Macy's and Dollar Tree are set to report earnings, with significant attention on their performance as the holiday season approaches.
Market Movements: The stock of Victoria's Secret is highlighted for its potential volatility, as over 20% of its shares are currently sold short, indicating investor caution.
UP Fintech Holding (NasdaqGS:TIGR): Assessing Valuation Following New Analyst Coverage and Optimistic Growth Projections
Investor Sentiment: Investor sentiment for UP Fintech Holding has improved following optimistic coverage from UBS and Jefferies, highlighting the company's growth in the Hong Kong and Singapore markets.
Stock Performance: UP Fintech has seen a significant share price increase of 53.9% year-to-date and a total shareholder return of 66.1% over the past year, indicating strong investor confidence.
Valuation Debate: Analysts have set a fair value of $14.12 for UP Fintech, suggesting the stock is currently undervalued compared to its last close at $10.28, raising questions about future market movements.
Risks and Opportunities: While UP Fintech is positioned for growth with strong revenue and profitability, potential risks include regulatory scrutiny and rising client acquisition costs that could impact its momentum.
UPFintech Reports Q3 Revenue of $175.2M, Up 73.3% YoY
- Record Revenue: UPFintech achieved total revenue of $175.2 million in Q3, marking a 73.3% year-over-year increase and a 26.3% quarter-over-quarter rise, underscoring the company's strong performance amid market recovery and solidifying its leadership in the digital brokerage sector.
- Surge in Net Income: Non-GAAP net income reached $57.0 million, up 28.2% quarter-over-quarter and 2.8 times year-over-year, setting a new record that reflects a significant enhancement in the company's profitability and boosts investor confidence.
- Strong Client Growth: The company added 31,500 funded accounts, bringing the total to 1.22 million, an 18.5% year-over-year increase, indicating the success of its client acquisition strategy and further expanding its market share.
- Rising Trading Volume: Q3 trading volume hit $209.4 billion, up 28.5% year-over-year, demonstrating robust market activity that is expected to provide ongoing support for the company's future revenue growth.
UP Fintech Reports Q3 Revenue of $175.2M, Up 73.3% YoY
- Significant Revenue Growth: UP Fintech's total revenue for Q3 reached $175.2 million, reflecting a robust 73.3% year-over-year increase and a 26.3% quarter-over-quarter rise, underscoring the company's strong performance in the global investor market and solidifying its market position.
- Substantial Net Income Increase: The net income attributable to ordinary shareholders was $53.8 million, up 29.9% quarter-over-quarter and nearly three times that of the same quarter last year, indicating a significant enhancement in profitability that supports its sustainable growth strategy.
- Strong Customer Growth: The company added 31,500 new customers in Q3, with Singapore and Hong Kong contributing approximately 40% each, allowing UP Fintech to achieve its 2025 customer target ahead of schedule and further increasing its market share.
- Asset Scale Expansion: By the end of Q3, the total number of customers with deposits reached 1,224,200, an 18.5% increase year-over-year, while total account balances rose to $61 billion, up 49.7%, demonstrating the company's success in attracting and retaining client assets.
UPFintech Reports Q3 Revenue of $175.2M, Up 73.3% YoY
- Record Revenue: UPFintech achieved total revenue of $175.2 million in Q3, marking a 73.3% year-over-year increase and a 26.3% quarter-over-quarter rise, demonstrating strong growth momentum amid improving market conditions and solidifying its leadership in the digital brokerage market.
- Significant Profit Surge: Non-GAAP net income soared to $57.0 million, up 28.2% quarter-over-quarter and 2.8 times year-over-year, reflecting the success of the company's client acquisition and product diversification strategies, which bolster investor confidence.
- Notable Client Growth: The company added 31,500 funded accounts in Q3, bringing total clients to 1.22 million, an 18.5% year-over-year increase, indicating effective strategies in attracting high-quality clients and enhancing market share.
- Rising Trading Volume: Q3 trading volume reached $209.4 billion, up 28.5% year-over-year, showcasing increased user engagement and laying a solid foundation for future revenue growth.
UP Fintech Reports Non-GAAP EPADS of $0.31 and Achieves Record Revenue of $175.2 Million
Financial Performance: UP Fintech reported a Q3 Non-GAAP EPADS of $0.31 and revenue of $175.2 million, reflecting a 73.3% year-over-year increase. GAAP EPADS stood at $0.27, with net income attributable to shareholders reaching a record high of $57.0 million.
Growth in Commissions and Client Base: Commissions rose to $72.9 million, a 76.9% increase from the previous year, driven by higher trading volumes. Funded accounts grew by 31,500, totaling 1.22 million, an 18.5% increase year-over-year.
Market Activity and Client Assets: Trading volume in Q3 increased by 28.5% year-over-year to $209.4 billion, while total client assets reached a new peak of $61.0 billion, up 17.3% sequentially and 49.7% year-over-year.
Tiger Vault Growth: The "Tiger Vault" service in Hong Kong experienced significant growth, with assets under custody (AUC) increasing by 339% year-over-year.
Key Stocks Reporting Earnings This Week: Costco, MongoDB, Ulta, and Others
Upcoming Earnings Reports: Retail investors are anticipating a week of earnings reports from various companies, including MongoDB, CrowdStrike, and Salesforce, among others.
Analyst Expectations: Analysts have raised price targets for CrowdStrike ahead of its earnings report, with expectations of earnings of 94 cents per share and revenue of $1.21 billion.
Retail Sector Focus: Major retailers like Macy's and Dollar Tree are set to report earnings, with significant attention on their performance as the holiday season approaches.
Market Movements: The stock of Victoria's Secret is highlighted for its potential volatility, as over 20% of its shares are currently sold short, indicating investor caution.
UP Fintech Holding (NasdaqGS:TIGR): Assessing Valuation Following New Analyst Coverage and Optimistic Growth Projections
Investor Sentiment: Investor sentiment for UP Fintech Holding has improved following optimistic coverage from UBS and Jefferies, highlighting the company's growth in the Hong Kong and Singapore markets.
Stock Performance: UP Fintech has seen a significant share price increase of 53.9% year-to-date and a total shareholder return of 66.1% over the past year, indicating strong investor confidence.
Valuation Debate: Analysts have set a fair value of $14.12 for UP Fintech, suggesting the stock is currently undervalued compared to its last close at $10.28, raising questions about future market movements.
Risks and Opportunities: While UP Fintech is positioned for growth with strong revenue and profitability, potential risks include regulatory scrutiny and rising client acquisition costs that could impact its momentum.
