NASDAQ$ETOR
eToro Group LTD · Q4 2025 earnings
Q4 2025 earnings · · Before market open · Investor relations
Briefing
Q4 net income +16% YoY to $69M and AUA +11% to $18.5B; board adds $100M to share repurchase program.
Fourth-quarter 2025 GAAP net income rose 16% year-over-year to $68.7 million on $3.87 billion of total revenue and income. Net contribution was $227 million (-10% YoY) and adjusted EBITDA was $86.9 million (-19% YoY), as Q4 2024's outsized commodities print created a tough comp. Adjusted diluted EPS was $0.71 versus $0.79. Funded accounts grew 9% YoY to 3.81 million and assets under administration climbed 11% to $18.5 billion. eToro ended the year with $1.3 billion in cash, cash equivalents and short-term investments. The board authorized a $100 million increase to the share repurchase program (bringing remaining capacity to $150 million) and intends to launch a ~$50 million accelerated share repurchase.
- GAAP net income +16% YoY to $69M on $3.87B of total revenue and income; adjusted EBITDA $87M (-19% YoY) on a tough Q4 2024 comp.
- Net contribution $227M (-10% YoY) and adjusted diluted EPS $0.71 vs $0.79.
- Funded accounts 3.81M (+9% YoY); AUA $18.5B (+11% YoY); cash + ST investments $1.3B at year-end.
- Board added $100M to the share repurchase program ($150M remaining capacity) and intends to launch a ~$50M ASR.
- January 2026 KPIs: AUA $18.4B (+2% YoY), funded accounts 3.85M (+9% YoY), 74M ECC trades (+55% YoY).
Headline financials
Revenue & EPS history
eToro Group LTD · Revenue · Quarterly
$3.87B
Revenue by segment
eToro Group LTD · $3.87B total across 6 segments · Q4 2025
- Revenue from cryptoassets$3.59B—92.7%
- Net trading income — equities, commodities, currencies$116M—3.0%
- Net trading income — cryptoasset derivatives$73.8M—1.9%
- Net interest income from users$58.1M—1.5%
- Currency conversion and other income$25.3M—0.7%
- Other interest income$9.06M—0.2%
Forward guidance
Management did not issue specific Q1 or full-year 2026 numerical guidance, but CFO Meron Shani pointed to a strong start to 2026 with January KPIs reflecting platform resilience across market conditions, including the recent spike in commodities trading. CEO Yoni Assia emphasized continued investment in AI, on-chain infrastructure, 24/7 trading, and the eToro App Store.
Tailwinds
- January 2026 KPIs (AUA $18.4B, funded accounts 3.85M, 74M ECC trades +55% YoY)
- $150M of remaining repurchase capacity plus a planned ~$50M ASR
- Multi-year BWT Alpine F1 partnership and Gemini-customer migration deal extending global reach
Headwinds
- Q4 net contribution and adjusted EBITDA declined YoY on a tough Q4 2024 comp
- Crypto trading volumes remain volatile and cycle-sensitive
Historical earnings impact
How earnings announcements have historically affected this stock's price.
Avg. return before/after earnings
Based on 3 quarterly earnings reports · overlaid with Q4 2025
+1.1%
Avg return
Earnings day
+0.5%
Avg return
5 days after
-3.4%
Avg return
30 days after
40%
2 / 5 earnings
Positive
+20.4%
Q4 2025
Best reaction
-11.9%
Q1 2025
Worst reaction
| Quarter | Report date | Reaction (Day 0) | +5 days | +30 days |
|---|---|---|---|---|
| Q1 2026 | -3.2% | +4.5% | +0.6% | |
| Q4 2025 | +20.4% | +13.5% | +7.0% | |
| Q3 2025 | +8.2% | +16.1% | +16.9% | |
| Q2 2025 | -8.2% | -12.9% | -19.7% | |
| Q1 2025 | -11.9% | -19.0% | -21.9% |
Discussion
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