UP Fintech Holding Limited · Q2 2025 earnings

Briefing

Tiger Brokers Q2 revenue hits record $138.7M (+58.7% YoY) as net income surges 15x to $41.4M

UP Fintech Holding (Tiger Brokers) reported second-quarter 2025 total revenues of US$138.7 million, up 58.7% year over year and 13.1% quarter over quarter, reaching a record on higher trading volumes and margin financing activity. Net income attributable to ordinary shareholders was US$41.4 million versus US$2.6 million a year ago, with diluted EPS of US$0.225; non-GAAP net income was US$44.5 million (US$0.241 per ADS). Total account balance rose 36.3% year over year to US$52.1 billion, customers with deposits increased 21.4% to 1.19 million, and the company added 39,800 new funded clients in the quarter. Cash, term deposits and long-term deposits totaled US$514.0 million at June 30, 2025.

• Q2 total revenues of $138.7M (+58.7% YoY); commissions $64.8M, interest income $58.7M, other revenues $12.5M.
• Net income attributable to ordinary shareholders was $41.4M with diluted EPS of $0.225; non-GAAP net income $44.5M ($0.241 per ADS).
• Total account balance reached a record $52.1B (+36.3% YoY); 39,800 new customers with deposits added in Q2.
• Margin financing and securities lending balance rose 65.3% YoY to $5.7B; first-half net income already exceeded full-year 2024.
• Underwrote 7 Hong Kong IPOs and 4 U.S. IPOs in Q2; ESOP clients reached 663.

Headline financials

Revenue & EPS history

Management noted it has onboarded over 100,000 new customers with deposits year-to-date and remains confident in achieving its 2025 annual target of 150,000 new funded clients.