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SINGAPORE - UP Fintech Holding Limited (NASDAQ:TIGR), a leading online brokerage firm focusing on global investors, reported first quarter 2025 earnings that beat expectations on Friday.
The company’s shares were up 4.27% in pre-market trading following the release.
The company reported adjusted earnings per ADS of $0.20, surpassing analyst estimates. Revenue for the quarter came in at $122.6 million, up 55.3% year-over-year but slightly below the previous quarter.
UP Fintech saw strong customer growth, adding 60,900 new funded accounts in Q1 to reach a total of 1,152,900 customers with deposits, up 23.5% from a year ago. Total (EPA:TTEF) account balance rose 39.5% year-over-year to $45.9 billion.
"Benefiting from our brand strength and continued investment in R&D, both our GAAP and non-GAAP net income saw impressive growth," said Wu Tianhua, Chairman and CEO of UP Fintech.
Net income attributable to shareholders jumped 146.7% year-over-year to $30.4 million. Non-GAAP net income rose 145% to $36 million.
The company highlighted strong asset inflows of $3.4 billion in Q1, with the majority coming from retail users. UP Fintech also noted growth in its Hong Kong business, with new funded clients there averaging over $30,000 in net asset inflows.
Looking ahead, UP Fintech said it has already achieved 40% of its 2025 target for new funded accounts. The company continues to expand its product offerings, including new cryptocurrency and institutional trading capabilities.
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