NASDAQ$TIGR
UP Fintech Holding Limited · Q4 2025 earnings
Q4 2025 earnings · · Investor relations
Briefing
UP Fintech Q4 2025: $175.6M revenue (+41.5% YoY), $45.2M net income (+61.3%)
UP Fintech (Tiger Brokers) reported Q4 2025 total revenues of US$175.6 million, up 41.5% year over year and roughly flat quarter over quarter, capping a strong 2025 in which full-year revenue grew 56.3% to US$612.1 million. Net income attributable to ordinary shareholders was US$45.2 million in Q4 (+61.3% YoY) and US$170.9 million for the full year (+181.4%). The company added 29,700 funded clients in Q4, bringing the year-end total to 1.25 million (+14.8% YoY), with total account balance reaching US$60.8 billion (+45.7%). Non-GAAP net income was US$48.9 million in Q4 and US$186.5 million for FY2025. Management targets 150,000 new funded clients in 2026 while prioritizing user quality.
- Q4 revenue of $175.6M (+41.5% YoY); FY2025 revenue of $612.1M (+56.3% YoY)
- Q4 net income of $45.2M (+61.3% YoY); FY2025 net income of $170.9M (+181.4% YoY)
- Total account balance reached $60.8B (+45.7% YoY); net asset inflows of $3B in Q4
- Added 161,900 funded clients in 2025, exceeding 150,000 guidance target
- Underwrote 22 US/HK IPOs in Q4; ESOP clients reached 748 at year-end
Headline financials
Revenue & EPS history
UP Fintech · Revenue · Quarterly
$176M
Revenue by segment
UP Fintech · $173M total across 3 segments · Q4 2025
- Interest income$71.3M—41.2%
- Commissions$70.8M—40.9%
- Other revenues$30.8M—17.8%
Forward guidance
UP Fintech targets acquiring 150,000 new funded clients in 2026 while prioritizing user quality, continuing its internationalization strategy across Singapore, Australia, New Zealand, and Hong Kong.
Tailwinds
- Strong international growth with client assets doubling/tripling in AU/NZ and HK
- Wealth management and IPO distribution revenue growing rapidly
Headwinds
- Decreased interest rates pressuring financing service fees
- Higher marketing and G&A expenses including uncollectible underwriting fee
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 Q4 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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