Latest news with #CommissionIncome
Yahoo
31-05-2025
- Business
- Yahoo
UP Fintech Holding Ltd (TIGR) Q1 2025 Earnings Call Highlights: Record Revenue and Client ...
Total Revenue: USD 122.6 million, up 55.3% year over year. 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.
Yahoo
31-05-2025
- Business
- Yahoo
UP Fintech Holding Ltd (TIGR) Q1 2025 Earnings Call Highlights: Record Revenue and Client ...
Total Revenue: USD 122.6 million, up 55.3% year over year. 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. Error while retrieving data Sign in to access your portfolio Error while retrieving data Error while retrieving data Error while retrieving data Error while retrieving data
