UP Fintech reports strong Q1 earnings, shares rise 4%

Published 30/05/2025, 11:20
UP Fintech reports strong Q1 earnings, shares rise 4%

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.

This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.

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