NASDAQ$TIGR
UP Fintech Holding Limited · Q1 2025 earnings
Q1 2025 earnings · · Before market open · Investor relations
Briefing
UP Fintech (Tiger Brokers) Q1 2025: $122.6M revenue (+55%), $30.4M net income as funded accounts reach 1.15M
UP Fintech Holding (Tiger Brokers) reported Q1 2025 total revenues of $122.6 million, up 55.3% year-over-year, with total net revenues of $107.6 million (+67.7% YoY). Net income attributable to ordinary shareholders was $30.4 million ($0.166 diluted EPS per ADS) compared with $12.3 million ($0.077) in Q1 2024; non-GAAP net income was $36.0 million ($0.198 per ADS). The company added 60,900 new customers with deposits in Q1—40% of its full-year guidance of 150,000—bringing funded accounts to 1,152,900 (+23.5% YoY). Total account balance rose 39.5% YoY to a record $45.9 billion on $3.4 billion of net asset inflow and $776 million mark-to-market gains. Commissions surged 109.8% to $58.3 million on higher trading volume of $217.5 billion.
- Total revenues grew 55.3% to $122.6M; net income was $30.4M ($0.166/ADS diluted) vs $12.3M a year ago
- Non-GAAP net income reached $36.0M ($0.198/ADS); added 60,900 new funded customers in Q1
- Total account balance hit a record $45.9B (+39.5% YoY) on $3.4B net asset inflow
- Commissions rose 109.8% to $58.3M; trading volume was $217.5B; margin balance up 89.4% to $5.2B
- Underwrote 4 Hong Kong IPOs in Q1 and added 20 ESOP clients, bringing ESOP total to 633
Headline financials
Revenue & EPS history
UP Fintech · Revenue · Quarterly
$123M
Revenue by segment
UP Fintech · $123M total across 4 segments · Q1 2025
- Commissions$58.3M—47.6%
- Interest income$53.8M—43.9%
- Other revenues$7.94M—6.5%
- Financing service fees$2.56M—2.1%
Forward guidance
Q1 added 60,900 new funded customers, achieving 40% of the company's 2025 guidance target of 150,000 new customers with deposits for the full year.
Tailwinds
- Record $45.9B account balance with strong retail-driven net inflows
- Hong Kong new funded client average net inflows above $30,000 in Q1
Headwinds
- Total revenues declined 1.2% quarter-over-quarter despite strong YoY growth
Historical earnings impact
How earnings announcements have historically affected this stock's price.
Avg. return before/after earnings
Based on 20 quarterly earnings reports · overlaid with Q1 2025
+0.1%
Avg return
Earnings day
+2.0%
Avg return
5 days after
+1.8%
Avg return
30 days after
45%
13 / 29 earnings
Positive
+35.9%
Q4 2021
Best reaction
-25.9%
Q1 2022
Worst reaction
| Quarter | Report date | Reaction (Day 0) | +5 days | +30 days |
|---|---|---|---|---|
| Q4 2025 | -1.2% | -5.1% | +3.5% | |
| Q3 2025 | +3.8% | +7.5% | +20.6% | |
| Q2 2025 | -9.7% | -2.5% | -20.7% | |
| Q1 2025 | -3.7% | -0.2% | +11.7% | |
| Q4 2024 | +21.6% | +11.2% | -16.8% | |
| Q3 2024 | -13.4% | -13.2% | +6.5% | |
| Q2 2024 | -6.2% | -7.2% | +17.7% | |
| Q1 2024 | +10.9% | +17.3% | +13.3% | |
| Q4 2023 | -14.8% | -21.7% | -29.5% | |
| Q3 2023 | -7.6% | -7.8% | -15.2% | |
| Q2 2023 | +27.7% | +44.3% | +41.8% | |
| Q1 2023 | +17.0% | +20.1% | +11.6% | |
| Q4 2022 | +8.7% | +10.7% | -2.7% | |
| Q3 2022 | -0.7% | +3.1% | +9.1% | |
| Q2 2022 | +1.7% | +6.7% | -7.3% | |
| Q1 2022 | -25.9% | -18.8% | -8.8% | |
| Q4 2021 | +35.9% | +53.9% | +14.6% | |
| Q3 2021 | -9.7% | -8.2% | -18.6% | |
| Q2 2021 | +3.1% | +1.7% | -20.0% | |
| Q1 2021 | +29.6% | +33.0% | +56.7% | |
| Q4 2020 | -13.0% | +8.3% | +27.4% | |
| Q3 2020 | -10.2% | -14.5% | -2.3% | |
| Q2 2020 | -13.7% | -15.7% | -30.6% | |
| Q1 2020 | -9.0% | -6.6% | +15.8% | |
| Q4 2018 | +1.2% | -7.1% | +15.4% | |
| Q4 2019 | +6.8% | +0.8% | +8.7% | |
| Q3 2019 | +1.9% | -2.7% | -3.0% | |
| Q2 2019 | -10.0% | -12.7% | -6.6% | |
| Q1 2019 | -19.3% | -17.5% | -41.1% | |
| Q3 2018 | — | — | — | |
| Q2 2018 | — | — | — | |
| Q1 2018 | — | — | — | |
| Q4 2017 | — | — | — | |
| Q2 2016 | — | — | — |
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