Loading...
•
Dec 31, 2024
UP Fintech Q4 2024 Earnings Report
UP Fintech reported its Q4 2024 earnings with record revenue growth and a strong turnaround in profitability.
Key Takeaways
In Q4 2024, UP Fintech achieved record total revenue of $124.1 million, marking a 77.3% increase year-over-year. The company reported a net income of $28.05 million, reversing a net loss from the same period last year. Non-GAAP net income reached $30.47 million, representing a remarkable year-over-year growth. The quarter was supported by increased trading volume, higher commissions, and strong interest income.
Total revenue grew 77.3% YoY to $124.1 million.
Net income reached $28.05 million, compared to a $1.84 million loss last year.
Non-GAAP net income rose to $30.47 million, up 2772.5% YoY.
Cash and cash equivalents stood at $393.58 million at quarter-end.
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 plans to continue expanding its international footprint, investing in technological innovation, and growing both its retail and corporate client base in 2025.
Positive Outlook
- Anticipated growth in global retail customer deposits.
- Continued strong trading volumes and commissions.
- Expansion in corporate business through more IPO underwriting.
- Launch of new AI-driven features like TigerAI.
- Increasing margin financing and securities lending balances.
Challenges Ahead
- Potential volatility in global financial markets.
- Decreasing financing service fees impacting segment revenue.
- Higher marketing and branding expenses could pressure margins.
- Currency exchange rate fluctuations impacting financials.
- Rising competition from other brokerage platforms globally.