UP Fintech Holding Earnings Call Transcripts
Fiscal Year 2025
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Record revenue and net income growth in 2025 driven by user and asset expansion, with strong performance in Hong Kong and Singapore. Outlook for 2026 targets 150,000 new funded clients, stable CAC, and continued focus on high net worth users.
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Record revenue and net income were achieved, driven by strong growth in Singapore and Hong Kong, robust client asset inflows, and active IPO markets. Operating costs rose due to global expansion and R&D, while clearing costs hit historic lows after regulatory changes.
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Q2 2025 saw record revenue, net income, and client asset growth, with strong performance in Hong Kong and Singapore. Digital asset trading surged, and customer acquisition focused on quality and high net inflows. Non-GAAP net profit margin hit a record 32%.
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Q1 2025 saw revenue surge 55.3% year-over-year to $122.6 million, with record net income and client assets. Strong growth in new funded accounts and robust inflows were driven by product innovation and expansion in key markets, especially Hong Kong.
Fiscal Year 2024
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Q4 and full year 2024 delivered record revenue and profit, with strong growth in client assets and funded accounts, especially in Hong Kong. The company targets 150,000 new funded clients in 2025, focusing on user quality and ROI, amid active and volatile markets.
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Q3 2024 saw record revenue and net income, driven by strong client growth, robust trading activity, and expanding wealth management. Hong Kong and Southeast Asia led new account growth, while operating leverage and margins improved significantly.
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Q2 2024 saw record revenue of $87.4M, strong user and asset growth, and robust performance in Singapore and Hong Kong. Net income was impacted by a $13.2M loss provision, but underlying profitability and client activity remain strong.
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Q1 saw strong growth in funded accounts and client assets, with revenue up 19% year-over-year and net income turning positive. Product innovation and regional expansion, especially in Singapore and Hong Kong, drove results, and full-year guidance for new accounts remains on track.