1Q25 Revenue: $122.6M, +55.3% YoY, beat estimates by $11M
1Q25 Non-GAAP EPADS: $0.198
FY26 Guidance: No guidance provided.
Comment: UP Fintech delivered impressive first quarter results, with revenues rising 55.3% YoY to US$122.6mn and net income jumping 146.7% to US$30.4mn. The company added 60,900 new customers with deposits, reaching a total of 1.15 million and boosted total account balances by 39.5% YoY to US$45.9bn, driven by strong net asset inflows and positive mark to market gains. Margin financing and securities lending balances grew 89.4% YoY to US$5.2bn, while it enhanced virtual asset trading services in Hong Kong, new DVP and equity repo offerings and active underwriting of Hong Kong IPOs. Although Q1 revenues declined slightly QoQ, strategic investments in marketing and technology continue to support UP Fintech’s growth trajectory. As of the first quarter, the company already achieved 40% of its 2025 target for new funded accounts. Building on this strong momentum, UP Fintech plans to further strengthen its digital offerings, broaden its global reach, and enhance client services to capture new growth opportunities in international markets. 2Q25recommended trading range: $7 to $10. Neutral Outlook.