UP Fintech Holding Ltd (TIGR) Q1 2025 Earnings Call Highlights: Record Revenue and Client ...
Commission Income: USD 58.3 million, more than doubling year over year.
Interest Income: USD 53.8 million, increased 22.7% year over year.
Non-GAAP Net Income: USD 36 million, up 18.3% sequentially and 145% year over year.
GAAP Net Income: USD 30.4 million, up 8.4% quarter over quarter and 146.7% year over year.
Total Trading Volume: USD 217 billion.
Marketing, Financing, and Securities Lending Balance: USD 5.2 billion, increased 89.4% year over year.
New Funded Accounts: 60,900 added in the first quarter, a 2.9% increase quarter-over-quarter and 111.2% growth year over year.
Total Funded Accounts: 1,152,900, an increase of 23.5% year over year.
Total Client Assets: USD 45.9 billion, up 9.9% quarter-over-quarter and 39.5% year-over-year.
Interest Expense: USD 50 million, decreased 10% quarter over quarter.
Employee Compensation and Benefits Expense: USD 33.8 million, an increase of 22% year over year.
Marketing Expense: USD 10.9 million, increased 148% year-over-year.
Total Operating Costs: USD 67.1 million, an increase of 32% from the same quarter of last year.
Non-GAAP Profit Margin: Expanded from 25% in the previous quarter to nearly 30% this quarter.
Warning! GuruFocus has detected 2 Warning Signs with TIGR.
Release Date: May 30, 2025
For the complete transcript of the earnings call, please refer to the full earnings call transcript.
Total revenue for the first quarter reached USD122.6 million, marking a 55.3% increase year over year.
Trading volume hit USD217 billion, driving commission income to a record high of USD58.3 million, more than doubling year over year.
Non-GAAP net income increased to USD36 million, reflecting an 18.3% sequential increase and a 145% increase year over year.
The company added 60,900 new funded accounts in Q1, achieving over 40% of its full-year target.
Client assets reached a record high of USD45.9 billion, marking the 10th consecutive quarter of growth.
Interest income slightly decreased by 4% quarter over quarter due to the maturity of US treasury holdings.
Cash equities take rate decreased slightly from 6.9 bps to 6.7 bps quarter over quarter.
Execution and carrying expenses increased by 139% year over year, in line with increased trading volumes.
Marketing expenses rose by 148% year over year, reflecting higher costs for user acquisition.
The average customer acquisition cost (CAC) is expected to rise to USD250 to USD300, up from USD150 to USD180.
Q: With markets remaining volatile in the second quarter, how has this affected the company's run rate so far? Could you share any early trends around trading volume, client assets, and newly funded accounts? A: (Tianhua Wu, CEO) We are pleased with the second quarter's progress. Trading volume hit a record high in April, surpassing USD100 billion. Client assets have also reached a new high, increasing by double digits compared to the first quarter. However, due to market volatility, we expect a decrease in new funded accounts compared to Q1, but user quality remains strong, and we are confident in meeting our annual target of 150,000 new funded users.
Q: Looking ahead, how should we think about the cost, particularly headcount and customer acquisition? Can you provide guidance on customer acquisition costs? A: (Fei Zeng, CFO) We will continue investing in product and R&D, with headcount growth remaining disciplined. Compensation expenses are expected to grow 10% to 20% annually. Marketing spending will increase, especially in the second half of the year, with customer acquisition costs rising to USD250-300 due to investments in high-value markets and brand awareness.
Q: Could you elaborate on the breakdown of asset inflows in terms of regions and account types? A: (Tianhua Wu, CEO) In Q1, we recorded USD3.2 billion in net asset inflows, with 60% from Greater China, 30% from Singapore, and 10% from the US, Australia, and New Zealand. Retail clients contributed 60% of these inflows.
Q: Your margin financing and security lending balances grew, yet net interest income remained flat. Was this due to declining interest rates? What impact would a Fed rate cut have? A: (Fei Zeng, CFO) The flat net interest income was due to matured US treasury investments, impacting income by USD1.5 million. A 25 bps Fed rate cut would negatively impact quarterly net interest income by USD1-1.5 million, about 1% of quarterly revenue.
Q: Could you provide a regional breakdown of newly funded accounts in Q1? How do you view the Hong Kong market opportunity, especially with increased competition? A: (Tianhua Wu, CEO) In Q1, 45% of new accounts were from Singapore and Southeast Asia, 35% from Greater China, and 10% each from Australia, New Zealand, and the US. Hong Kong remains a key market despite competition, with strong client assets growth and high ARPU. We plan to continue investing in talent and marketing to secure a meaningful market share.
For the complete transcript of the earnings call, please refer to the full earnings call transcript.
This article first appeared on GuruFocus.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Yahoo
23 minutes ago
- Yahoo
Trump tariffs: What are the sticking points in the Canada-US trade negotiation
Prime Minister Mark Carney has remained tight lipped following U.S. President Donald Trump's announcement he would raise the tariff on Canada from 25 per cent to 35 per cent. His policy, while Canada-U.S. trade talks are ongoing, is not to negotiate in public. Mercedes Stephenson breaks down the major sticking points that could be slowing down the negotiations.
Yahoo
23 minutes ago
- Yahoo
OLIVE YOUNG Brings Leading K-Beauty Brands and "All Live Young" Philosophy to KCON LA 2025 as Title Sponsor
LOS ANGELES, Aug. 1, 2025 /PRNewswire/ -- OLIVE YOUNG, South Korea's leading beauty and wellness retailer, returns as the title sponsor of KCON LA 2025, bringing its signature "All Live Young" philosophy to life through a dynamic and immersive K-beauty experience in the heart of Los Angeles. This activation marks a major milestone in the brand's journey to bring its trusted K-beauty experience to North America, with its first U.S. store set to open in Los Angeles in late H1 2026. The brand's presence at KCON reflects its commitment to making K-beauty more accessible, inclusive, and experience-driven for global audiences. At KCON LA, OLIVE YOUNG will spotlight a total of 66 brands including their award-winning private label brands—BIOHEAL BOH, BRINGGREEN, and COLORGRAM— where 164 products from 64 brands will be featured through immersive, interactive zones designed to introduce U.S. audiences to the brand's curated approach to skincare, color, and wellness. Booth Highlights Include:K-Skincare Starter Kit: "Beauty Box" Pop-Up with Global App IntegrationAs part of the pop-up experience, attendees are invited to discover OLIVE YOUNG's "Beauty Box," a curated starter kit featuring standout products from six K-beauty brands available in the U.S. assortment, including Biodance, numbuzin, and ROUND LAB. Guests who engage in the experience will have the opportunity to extend their discovery journey through the OLIVE YOUNG Global website and app, where a limited-time exclusive chance to explore a pop-up offering will be available. Core Skincare Showcase: A Glimpse into the First U.S. StoreA dedicated zone spotlights OLIVE YOUNG's four essential skincare categories—Essence & Serum, Sun Care, Sheet Masks & Pads, and Creams—offering a first look at hero SKUs likely to be included in the upcoming U.S. retail launch.. Exclusive Experience Zones: Discover OLIVE YOUNG's Private BrandsVisitors can immerse themselves in interactive brand zones from OLIVE YOUNG's top-performing private labels: BIOHEAL BOH: Explore anti-aging and lifting solutions in the BIOHEAL BOH Lab. BRINGGREEN: Get personalized skin trouble diagnosis at the BRINGGREEN Nurse's Office. COLORGRAM: Play with high-quality color at COLORGRAM's Colorful Art Room. "We're excited to bring our 'All Live Young' philosophy to life at KCON LA 2025 through curated products, thoughtful retail innovation, and a focus on experience," said Sehoon Jin, Executive Vice President of Global Platform Business at OLIVE YOUNG. "This is a meaningful step in bringing OLIVE YOUNG's trusted and inclusive K-beauty experience to the U.S. market." For more information about OLIVE YOUNG and its private label brands, visit ABOUT OLIVE YOUNG: Established in 1999, OLIVE YOUNG is South Korea's leading beauty and health retailer, dedicated to helping everyone live a healthy and beautiful life. The brand philosophy, "All Live Young," reflects OLIVE YOUNG's vision of inspiring customers to embrace wellness and beauty at every stage of life. Through its flagship store and online platforms, OLIVE YOUNG offers a curated selection of trendy and innovative K-beauty and wellness products, loved by customers worldwide. With over 1,370 stores, more than 20 years of expertise, and strong global partnerships, OLIVE YOUNG continues to set the standard for innovation, accessibility, and customer-focused retail in the K-beauty and wellness industry. As part of CJ Group, a global lifestyle company based in South Korea, OLIVE YOUNG delivers the value of healthy beauty to customers everywhere. MEDIA CONTACT: For more information and interview requests, please contact PURPLE: oliveyoung@ View original content to download multimedia: SOURCE OLIVE YOUNG Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
23 minutes ago
- Yahoo
DEA Accountability as Cannabis Research Crisis Deepens And Patients Suffer
With the confirmation of incoming DEA Administrator Terrance Cole, the opportunity for reform has arrived. The DEA must choose between outdated drug war politics and advancing public health. MMJ International Holdings Issues Clarification on Irvine Labs. WASHINGTON, DC / / August 1, 2025 / MMJ International Holdings, Inc. ("MMJ") today issued a public clarification regarding prior statements about Irvine Labs, Inc., while calling for an urgent reckoning with the U.S. Drug Enforcement Administration's (DEA) catastrophic mismanagement of America's cannabis research policy. In a previous press release, MMJ referenced widespread inactivity among DEA-registered marijuana manufacturers. While these statements were intended to highlight systemic failures within the DEA's quota and licensing system, MMJ acknowledges that this language may have unintentionally caused confusion regarding Irvine Labs, Inc. MMJ hereby clarifies that Irvine Labs, Inc. is a registered DEA entity and, to the best of MMJ's current knowledge, holds valid DEA registrations. MMJ did not intend to imply that Irvine Labs is inactive or insolvent, and any interpretation suggesting otherwise is hereby retracted. This clarification, however, does not alter the underlying crisis: the DEA's marijuana manufacturing quota system is fundamentally broken. Despite a supposed expansion of DEA licenses, no registrant-except MMJ-has produced sufficient pharmaceutical-grade cannabis to support a single FDA-compliant clinical trial. The Devastating Reality: Maridose (Maine): Only 1,100 sq. ft. of space, not growing. Bright Green Corp: Surrendered its registration without ever planting a crop. Royal Emerald Pharmaceuticals: Inactive and facing financial distress. Groff NA Hemplex & Scottsdale Research Institute: No active cultivation for clinical trials. BRC: Producing quantities far below clinical thresholds. University of Mississippi: Continues to grow substandard, research-incompatible marijuana. MMJ remains the only federally compliant entity actively pursuing the cultivation of strain-specific, pharmaceutical-grade cannabis for FDA-approved clinical trials targeting Huntington's Disease and Multiple Sclerosis. Yet, for over seven years, the DEA has obstructed MMJ's efforts through unconstitutional administrative proceedings, arbitrary quotas, and a bureaucratic "Catch-22" that demands documentation (BFSA) which is unattainable without the very registration the DEA refuses to grant. A Constitutional Crisis Exposed The Supreme Court's rulings in Axon v. FTC and Jarkesy v. SEC have now exposed the DEA's internal administrative law judge (ALJ) system as an unconstitutional charade. Despite this, DEA legal counsel Aarathi Haig continues to defend a system the Department of Justice has now abandoned. Former Chief ALJ John "McLooney" Mulrooney has since retired, leaving behind what critics call a "legal dumpster fire." MMJ's legal exceptions, filed July 3, 2025, detail the agency's structural bias, retroactive sabotage, and deliberate obstruction of medical research. "We followed every law, built the FDA-inspected facility, and secured our clinical approvals," said Duane Boise, CEO of MMJ International Holdings. "What the DEA calls regulation is nothing more than bureaucratic revenge." The Time for Reckoning is Now With the confirmation of incoming DEA Administrator Terrance Cole, the opportunity for reform has arrived. The DEA must choose between outdated drug war politics and advancing public health. This demands immediate action: Fire entrenched obstructionists like Thomas Prevoznik. Investigate Aarathi Haig for perpetuating unconstitutional legal processes. Transfer oversight of cannabis research to the FDA, where science-not sabotage-will guide policy. "The DEA has spent a decade fortifying a broken system that protects monopolies, obstructs innovation, and ignores public safety disasters like the Assured Testing Labs scandal in Massachusetts," said Boise. "America doesn't need another anti-marijuana crooner in a suit-it needs a leader who will stand up to this agency's sabotage and put patients first." MMJ International Holdings remains committed to factual accuracy and will continue to expose systemic failures that endanger patients, stifle science, and betray the public trust. MMJ is represented by attorney Megan Sheehan. CONTACT:Madison HiseyMHisey@ SOURCE: MMJ International Holdings View the original press release on ACCESS Newswire Sign in to access your portfolio
