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Sep 30
UP Fintech Q3 2025 Earnings Report
UP Fintech reported a strong Q3 with record revenues and net income, driven by growth in commissions and interest income.
Key Takeaways
UP Fintech delivered robust Q3 2025 results with total revenue of $175.2 million and net income of $53.8 million. High ARPU and asset inflows from key markets like Singapore and Hong Kong contributed to record highs in customer deposits and account balances.
Revenue reached a record $175.2 million, up significantly from the prior year.
Net income more than tripled year-over-year to $53.8 million.
Client asset balances rose to a record $61 billion, up 49.7% YoY.
Singapore and Hong Kong led new funded client growth, each contributing about 40%.
UP Fintech
UP Fintech
UP Fintech Revenue by Segment
Revenue by Segment
Commissions Revenue
CapyFin.comFinancing Service Fees Revenue
CapyFin.comInterest Income Revenue
CapyFin.comOther Revenues Revenue
CapyFin.com Forward Guidance
UP Fintech did not issue specific numeric forward guidance, but emphasized continued customer acquisition, product innovation, and market expansion as key growth levers.
Positive Outlook
- Reached annual target of 150,000 new funded customers ahead of schedule.
- Client assets in Singapore and Hong Kong grew ~20% and ~60% QoQ respectively.
- TradingFront AI launched to enhance wealth management advisory services.
- Digital asset trading launched in New Zealand.
- Record average net asset inflow per new client at over $32,000.
Challenges Ahead
- Financing service fees slightly decreased YoY due to lower interest rates.
- Marketing and branding costs rose significantly (+56.7% YoY).
- Employee compensation expenses increased due to headcount growth.
- Communication and market data costs increased due to IT service fees.
- Slight FX headwind indicated by foreign currency translation losses.