AUS
NZ
UK
CA
USA
IND
Highlights
- Q3 total revenue surged 73.3% year-over-year to USD 175.2 million, with non-GAAP net income up 2.8 times.
- Funded client base grew 18.5% year-over-year to 1.22 million; market trading volume reached USD 209.4 billion.
- Significant trading growth across Singapore, Hong Kong, US, Australia, and New Zealand, with new products and enhanced AI tools.
UP Fintech Holding Limited (NASDAQ:TIGR) announced its unaudited financial results for the third quarter ended September 30, 2025, posting a record total revenue of USD 175.2 million, representing a 73.3% year-over-year increase and a 26.3% rise quarter-over-quarter. Non-GAAP net income attributable to shareholders rose to USD 57.0 million, nearly tripling compared to the prior year period. The company saw growth in funded accounts, market trading activity, and client assets, driven by average net asset inflows per new client.
Revenue and Client Growth Reach Record Highs
UP Fintech reported total revenue of USD 175.2 million in Q3 2025, a 73.3% increase year-over-year and 26.3% quarter-over-quarter. Non-GAAP net income reached USD 57.0 million, 28.2% higher than Q2 and nearly three times the same period last year. Funded accounts grew by 31,500 in the quarter, pushing total funded clients up 18.5% year-over-year to 1.22 million. Market trading volume expanded 28.5% year-over-year to USD 209.4 billion, and total client assets rose 17.3% sequentially and 49.7% annually, reaching a new peak of USD 61.0 billion. This growth was supported by a record average net asset inflow of over USD 32,000 per newly funded client.
Regional Performance Highlights
Singapore
The company maintained leadership in Singapore’s digital brokerage market with seven consecutive quarters of account growth. Trading orders rose 54% year-over-year, led by US stock volumes increasing 71% and options volumes 106%. Singapore stock trading jumped 74% quarter-over-quarter. The platform waived SGX custody fees on inactive accounts and introduced linking of CPF Investment Accounts and Supplementary Retirement Scheme accounts via the Tiger Trade app. Tiger BOSS debit card now supports Samsung Pay and major e-wallets.
Hong Kong
Hong Kong saw a 60.3% jump in new account openings quarter-over-quarter. Total trading volume tripled year-over-year with orders up 190%. Stock and options orders increased 66.4% and 88.3% quarter-over-quarter, respectively. Cash management products like “Tiger Vault” experienced significant growth in money market fund orders and trading volume. The company launched Nikkei futures in September, expanding its multi-asset global strategy. Crypto orders and trading volume increased sognificantly.
United States
TradeUP assets under custody (AUC) in the US rose 52.4% quarter-over-quarter, while revenue grew 36% year-over-year. Stock and options volumes increased substantially and the US investment banking arm led underwriting on five IPOs, including Linkhome and Yimutian Inc., marking encouraging capital market performance.
Australia and New Zealand
Australia saw 46.6% year-over-year growth in new accounts, with net inflows up 118.8% and total trading volume rising 111.5%. Gross revenue doubled from the previous year. New Zealand’s net inflows jumped 173% year-over-year and trading volumes doubled, while US stock orders surged 104% year-over-year. Cryptocurrency trading was launched in September, enabling trading in Bitcoin and Ethereum.
Enhanced Products and Services Drive Trading and Investment Growth
Tiger Trade’s Q3 commission revenue increased 76.9% year-over-year to USD 72.9 million and interest income rose 49.7% to USD 76 million. The platform enhanced crypto market features and AI-powered research through TigerAI, whose user base nearly quintupled. Daily average revenue trades rose 71.5% year-over-year, powered by improvements including 24-hour trading and options backtesting.
UP Fintech’s investment banking and Employee Stock Ownership Plan (ESOP) services recorded USD 26.3 million in Q3 revenue, growing 110% quarter-over-quarter and 189.1% year-over-year. Notable deals included several IPOs in Hong Kong and the US, with digital asset listings led by Solana’s USD 500 million PIPE deal.
