UP Fintech Holding Limited Earnings Recaps
Q1 2026
Jun 4, 2026
Shares dropped 9.7% as investors reacted negatively to margin compression and a cautious outlook signaled by declines in commission revenue and operating profit growth slowing quarter-over-quarter despite year-over-year gains.
Key takeaways
- Total revenue grew 26% year-over-year to $155 million but declined 12% sequentially, reflecting softening momentum.
- Commission income reached $67.2 million, up 15% year-over-year but down 5% quarter-over-quarter, driven by a 0-commission pricing model in the U.S. which restricted revenue capture despite higher volumes.
- Operating profit increased 17.5% year-over-year to $47.6 million but slowed compared to prior quarters, weighed by a substantial 33% rise in operating costs.
- Expenses rose broadly: employee compensation (+39%), marketing (+29%), and tech-related costs, weakening margin outlook.
- Client assets suffered a 3.2% quarter-over-quarter decline due to $4.9 billion mark-to-market losses despite strong net inflows, highlighting persistent market volatility risks.
Q3 2025
Dec 5, 2025
UP Fintech Holdings delivered strong third-quarter results, with revenue surging 73% year-over-year to $175.2 million and all licensed entities achieving profitability, reflecting robust user acquisition and increased client assets.
Key takeaways
- Net income attributable to UP Fintech rose 30% quarter-over-quarter to $53.8 million, and non-GAAP net profit reached $57 million, both hitting new historical highs.
- Added 31,500 new funded accounts in Q3, surpassing total annual guidance early, with significant contributions from Hong Kong and Singapore.
- Total client assets reached a record $61 billion, up 49.7% year-over-year, driven by strong retail investor engagement and mark-to-market gains.
- Launched new product offerings, including Japanese market derivatives and cryptocurrency trading in New Zealand, enhancing the global multi-asset strategy.
- Robust growth in B2B operations, with other revenue doubling quarter-over-quarter and significant IPO underwriting activity reflecting enhanced platform capabilities.