AUS
NZ
UK
CA
USA
IND
Highlights
TIGR's revenue reached USD 138.7 million, up 58.7% year-over-year and 13.1% quarter-over-quarter, marking a new quarterly record.
Net income attributable to shareholders surged to USD 41.4 million, a 36.2% increase from the previous quarter and nearly fifteen times higher than the prior year.
Total account balance climbed to USD 52.1 billion, up 36.3% year-over-year, supported by USD 3 billion in net inflows and market gains.
UP Fintech Holding Limited (NASDAQ:TIGR), a leading global online brokerage firm serving international investors, has announced unaudited financial results for the second quarter ended June 30, 2025. The company reported record revenue, substantial growth in profitability, and continued expansion of its customer base and assets under custody.
Financial Performance
For the second quarter of fiscal 2025, total revenue was USD 138.7 million, compared with USD 87.4 million in the prior-year period. Net revenues stood at USD 121.4 million, representing a 64.4% increase year-over-year and a 12.8% increase sequentially.
GAAP net income attributable to shareholders was USD 41.4 million, compared with USD 2.6 million a year earlier. Diluted earnings per ADS were USD 0.225, versus USD 0.016 in the prior-year period.
On a non-GAAP basis, net income was USD 44.5 million, compared with USD 5.2 million in the same quarter last year. Non-GAAP diluted earnings per ADS were USD 0.241, versus USD 0.033 in the prior-year quarter.
Revenue growth was supported by higher commissions of USD 64.8 million, up 90.1% year-over-year due to increased trading volume. Interest income grew 32.8% to USD 58.7 million, driven by margin financing and securities lending activities. Other revenue more than doubled to USD 12.5 million, supported by wealth management and IPO distribution services.
Customer and Asset Growth
UP Fintech added 39,800 new deposit-funded customers in the quarter, bringing the year-to-date total to over 100,000. The company reaffirmed its target of 150,000 new deposit-funded customers for 2025. At the end of June 2025, total deposit-funded customers reached 1.19 million, up 21.4% from the prior year.
Total account balance reached a record USD 52.1 billion, a 13.5% increase sequentially and 36.3% increase year-over-year. Net asset inflows totaled USD 3 billion, primarily from retail investors, while market-driven gains contributed an additional USD 3.2 billion.
The company reported that the average net inflow of new clients exceeded USD 20,000, with inflows from Singapore and Hong Kong averaging around USD 30,000. These markets contributed to quarter-over-quarter client asset growth of 50% and 20%, respectively, while other regions saw double-digit increases.
Product and Business Development
UP Fintech introduced new features in Singapore, including Central Provident Fund (CPF) and Supplementary Retirement Scheme (SRS) account trading, enabling eligible clients to invest retirement funds in approved financial products with tax benefits.
In its corporate business, the company underwrote seven Hong Kong IPOs and four U.S. IPOs during the quarter. It also expanded its ESOP (Employee Stock Ownership Plan) services, adding 30 new clients to reach a total of 663 ESOP clients.
Outlook
UP Fintech stated that its customer engagement strategy, focus on high-quality client acquisition, and expansion of product offerings will continue to support sustainable growth across its international markets in the second half of 2025.
