UP Fintech Posts Record Revenue but Costs Climb

Earnings
โดย Insider Monkey·SGHK·Read original
Summary · why it matters

UP Fintech reported record quarterly revenue and a full reversal of its prior-quarter loss, with revenue jumping 31.4% year over year to $182.3 million and GAAP net income of $39.4 million, compared with a $26.9 million loss in the first quarter. The turnaround was driven almost entirely by Singapore and Hong Kong, which contributed over 70% of new funded accounts and $1.5 billion in net asset inflows. However, the cost of that growth is rising: marketing expenses surged 86.6% to $18.4 million, the average cost of acquiring a new funded account rose to $450, and employee compensation climbed 39.4% to $50 million on severance costs. The cash equity take rate fell to 3.6 basis points from 5.9 basis points, and Mainland China's share of revenue slipped to 15%-20%. Hedge fund ownership ticked up to 17 funds, while short interest stands at 5.06% of the float, reflecting a split market view.

Impact on stocks 1

Financials▲ · 1 stocks
© 2026 MarketDXNews