UP Fintech Holding Limited Reports Unaudited Fourth Quarter And Full Year 2025 Financial Results
Rhea-AI Summary
UP Fintech (NASDAQ: TIGR) reported strong 2025 results: total revenue $612.1M (+56.3% YoY) and net income $170.9M (+181.4% YoY). Q4 revenue was $175.6M (+41.5% YoY) with Q4 net income $45.2M (+61.3% YoY). Total account balance rose to $60.8B (+45.7% YoY); customers with deposits reached 1.2539M (+14.8% YoY). Cash and deposits were $793.1M. Management highlighted product rollouts, margin accounts in Australia and 47 IPOs underwritten in 2025.
Positive
- Total revenue $612.1M (+56.3% YoY)
- Net income $170.9M (+181.4% YoY)
- Total account balance $60.8B (+45.7% YoY)
- Customers with deposits 1,253,900 (+14.8% YoY)
- Cash, term and long deposits $793.1M (up from $396.0M)
Negative
- Total operating costs $330.3M (+30.9% YoY)
- Employee compensation $167.2M (+36.6% YoY)
- Marketing and branding $49.5M (+73.4% YoY)
- Interest expense $73.4M (+20.6% YoY)
News Market Reaction – TIGR
On the day this news was published, TIGR declined 3.12%, reflecting a moderate negative market reaction. Argus tracked a trough of -10.6% from its starting point during tracking. Our momentum scanner triggered 8 alerts that day, indicating moderate trading interest and price volatility. This price movement removed approximately $40M from the company's valuation, bringing the market cap to $1.25B at that time.
Data tracked by StockTitan Argus on the day of publication.
Key Figures
Market Reality Check
Peers on Argus
TIGR fell 5.24% with higher volume, while several peers like PWP, BITF and OPY also traded lower but with smaller declines, pointing to a stock-specific reaction rather than a broad sector move.
Previous Earnings Reports
| Date | Event | Sentiment | Move | Catalyst |
|---|---|---|---|---|
| Dec 04 | Q3 2025 earnings | Positive | +4.0% | Strong Q3 revenue, profit and asset growth versus prior year. |
| Aug 27 | Q2 2025 earnings | Positive | -9.8% | Record Q2 revenue and net income with robust client and asset growth. |
| May 30 | Q1 2025 earnings | Positive | -3.8% | Strong Q1 revenue, earnings and funded account additions. |
| Mar 18 | FY 2024 highlights | Positive | +21.6% | Record Q4 and full-year 2024 revenue and profit; asset growth. |
| Mar 18 | Q4 & FY 2024 earnings | Positive | +21.6% | Strong Q4 and full-year 2024 financial performance and client growth. |
Earnings releases have generally been positive, with a mix of strong rallies and notable selloffs, indicating that reactions can diverge from fundamentals.
Over the last year, UP Fintech has repeatedly reported strong earnings growth. Q4 and full-year 2024 results showed record revenue and a sharp swing to profitability. Through Q1–Q3 2025, total revenues and net income continued to rise strongly, with client assets and funded accounts expanding each quarter. These updates highlighted growth in Singapore and Hong Kong, product expansion and increasing margin balances. Today’s Q4 and full-year 2025 numbers extend that trend of revenue, profit and asset growth compared to 2024.
Historical Comparison
Earnings headlines over the past year saw an average move of 6.73%. Today’s -5.24% reaction to another strong earnings release contrasts with that generally positive historical pattern.
Earnings have progressed from record Q4 and full-year 2024 results through strong Q1–Q3 2025 quarters, with rising revenues, net income and client assets, culminating in higher full-year 2025 revenue and profit versus 2024.
Market Pulse Summary
This announcement highlights continued expansion for UP Fintech, with full-year 2025 revenue of US$612.1M, net income of US$170.9M and client assets rising to US$60.8B. Customer growth, higher trading volumes and wealth management contributions all supported results. Historically, earnings updates have driven mixed price reactions, so investors may watch how revenue growth, net inflows, expense trends and regional expansion evolve across future quarters.
Key Terms
ads financial
non-gaap financial
margin financing financial
securities lending financial
esop financial
ipo regulatory
u.s. gaap regulatory
AI-generated analysis. Not financial advice.
SINGAPORE, March 19, 2026 (GLOBE NEWSWIRE) -- UP Fintech Holding Limited (NASDAQ: TIGR) (“UP Fintech” or the “Company”), a leading online brokerage firm focusing on global investors, today announced its unaudited financial results for the fourth quarter and full year ended December 31, 2025.
Mr. Wu Tianhua, Chairman and CEO of UP Fintech stated: “Both of our financial and operating performance have achieved significant growth in the full year of 2025. The full year total revenue amounted to US
In the fourth quarter, we added 29,700 customers with deposits, bringing our yearly total to 161,900, exceeding our yearly guidance of 150,000. The total number of customers with deposits at the end of 2025 reached 1,253,900, a
We have continued to roll out a range of localized products and features designed to enhance the user experience. Building on our options combo feature, we upgraded it in the fourth quarter to now allow users to execute combination orders of options and underlying stock contracts, enabling clients to implement more complex trading strategies that adapt to market changes. Additionally, we launched margin accounts in the Australia market, significantly enhancing our competitive position and improving the trading experience for local users.
Our corporate business continued to perform well in the fourth quarter of 2025. During this period, we underwrote a total of 22 U.S. and Hong Kong IPOs, including “Pony AI Inc.” and “HashKey”, bringing the total number of U.S. and Hong Kong IPOs underwritten for the year to 47. In our ESOP business, we added 39 new clients in the fourth quarter, bringing the total number of ESOP clients served to 748 as of December 31, 2025.”
Financial Highlights for Fourth Quarter 2025
- Total revenues were US
$175.6 million , an increase of41.5% year-over-year and an increase of0.2% quarter-over-quarter. - Total net revenues were US
$156.5 million , an increase of45.8% year-over-year and an increase of2.2% quarter-over-quarter. - Net income attributable to ordinary shareholders of UP Fintech was US
$45.2 million compared to a net income of US$28.1 million in the same quarter of last year, an increase of61.3% . - Non-GAAP net income attributable to ordinary shareholders of UP Fintech was US
$48.9 million , compared to a non-GAAP net income of US$30.5 million in the same quarter of last year, an increase of60.5% . A reconciliation of non-GAAP financial metrics to the most comparable GAAP metrics is set forth below.
Financial Highlights for Fiscal Year 2025
- Total revenues increased
56.3% year-over-year to US$612.1 million . - Total net revenues increased
62.9% year-over-year to US$538.7 million . - Net income attributable to ordinary shareholders of UP Fintech was US
$170.9 million compared to a net income of US$60.7 million in 2024, an increase of181.4% . - Non-GAAP net income attributable to ordinary shareholders of UP Fintech was US
$186.5 million , compared to a non-GAAP net income of US$70.5 million in 2024, an increase of164.7% . A reconciliation of non-GAAP financial metrics to the most comparable GAAP metrics is set forth below.
Operating Highlights as of Year End 2025
- Total account balance increased
45.7% year-over-year to US$60.8 billion . - Total margin financing and securities lending balance increased
21.5% year-over-year to US$5.4 billion . - Total number of customers with deposit increased
14.8% year-over-year to 1,253.9 thousand.
Selected Operating Data for Fourth Quarter 2025
| As of and for the three months ended | ||||||||||||
| December 31, | September 30, | December 31, | ||||||||||
| 2024 | 2025 | 2025 | ||||||||||
| In 000’s | ||||||||||||
| Number of customer accounts | 2,449.3 | 2,618.7 | 2,657.5 | |||||||||
| Number of customers with deposits | 1,092.0 | 1,224.2 | 1,253.9 | |||||||||
| Number of options and futures contracts traded | 18,926.3 | 25,636.1 | 26,751.6 | |||||||||
| In USD millions | ||||||||||||
| Trading volume | 198,016.9 | 209,421.4 | 316,599.0 | |||||||||
| Trading volume of stocks | 55,502.6 | 73,442.7 | 79,637.7 | |||||||||
| Total account balance | 41,725.2 | 61,037.7 | 60,806.7 | |||||||||
Fourth Quarter 2025 Financial Results
REVENUES
Total revenues were US
Commissions were US
Financing service fees were US
Interest income was US
Other revenues were US
Interest expense was US
OPERATING COSTS AND EXPENSES
Total operating costs and expenses were US
Execution and clearing expenses were US
Employee compensation and benefits expenses were US
Occupancy, depreciation and amortization expenses were US
Communication and market data expenses were US
Marketing and branding expenses were US
General and administrative expenses were US
NET INCOME ATTRIBUTABLE TO ORDINARY SHAREHOLDERS OF UP FINTECH
Net income attributable to ordinary shareholders of UP Fintech was US
Non-GAAP net income attributable to ordinary shareholders of UP Fintech, which excludes share-based compensation, was US
For the fourth quarter of 2025, the Company’s weighted average number of ADSs used in calculating non-GAAP net income per ADS – diluted was 187,939,834. As of December 31, 2025, the Company had a total of 2,677,817,547 Class A and B ordinary shares outstanding, or the equivalent of 178,521,170 ADSs.
Full Year 2025 Financial Results
REVENUES
Total revenues were US
Commissions were US
Financing service fees were US
Interest income was US
Other revenues were US
Interest expense was US
OPERATING COSTS AND EXPENSES
Total operating costs and expenses were US
Execution and clearing expenses were US
Employee compensation and benefits expenses were US
Occupancy, depreciation and amortization expenses were US
Communication and market data expenses were US
Marketing and branding expenses were US
General and administrative expenses were US
NET INCOME ATTRIBUTABLE TO ORDINARY SHAREHOLDERS OF UP FINTECH
Net income attributable to ordinary shareholders of UP Fintech was US
Non-GAAP net income attributable to ordinary shareholders of UP Fintech, which excludes share-based compensation, was US
CERTAIN OTHER FINANCIAL ITEMS
As of December 31, 2025, the Company’s cash and cash equivalents, term deposits and long-term deposits were US
Conference Call Information:
UP Fintech’s management will hold an earnings conference call at 8:00 AM on March 19, 2026, U.S. Eastern Time (8:00 PM on March 19, 2026, Singapore/Hong Kong Time).
All participants wishing to attend the call must preregister online before they may receive the dial-in numbers. Preregistration may require a few minutes to complete.
Preregistration Information:
Please note that all participants will need to pre-register for the conference call, using the link:
https://register-conf.media-server.com/register/BI64386a93537e41cca665f4023e1048f3
It will automatically lead to the registration page of “UP Fintech Holding Limited Fourth Quarter And Full Year 2025 Earnings Conference Call”, where details for RSVP are needed.
Upon registering, all participants will be provided in confirmation emails with participant dial-in numbers and personal PINs to access the conference call. Please dial in 10 minutes prior to the call start time using the conference access information.
Additionally, a live and archived webcast of the conference call will be available at https://ir.itigerup.com
Use of Non-GAAP Financial Measures
In evaluating our business, we consider and use non-GAAP net income attributable to ordinary shareholders of UP Fintech and non-GAAP net income per ADS - diluted as supplemental measures to review and assess our operating performance. The presentation of the non-GAAP financial measures is not intended to be considered in isolation or as a substitute for the financial information prepared and presented in accordance with the United States Generally Accepted Accounting Principles (“U.S. GAAP”). We define non-GAAP net income attributable to ordinary shareholders of UP Fintech as net income attributable to ordinary shareholders of UP Fintech excluding share-based compensation. Non-GAAP net income per ADS - diluted is non-GAAP net income attributable to ordinary shareholders of UP Fintech divided by the weighted average number of diluted ADSs.
We present these non-GAAP financial measures because they are used by our management to evaluate our operating performance and formulate business plans. Non-GAAP net income attributable to ordinary shareholders of UP Fintech enables our management to assess our operating results without considering the impact of share-based compensation. We also believe that the use of these non-GAAP financial measures facilitates investors' assessment of our operating performance.
These non-GAAP financial measures are not defined under U.S. GAAP and are not presented in accordance with U.S. GAAP. These non-GAAP financial measures have limitations as an analytical tool. One of the key limitations of using these non-GAAP financial measures is that they do not reflect all items of income and expenses that affect our operations. Share-based compensation has been and may continue to be incurred in our business and are not reflected in the presentation of non-GAAP net income attributable to ordinary shareholders of UP Fintech. Further, these non-GAAP financial measures may differ from the non-GAAP financial information used by other companies, including peer companies, and therefore their comparability may be limited.
These non-GAAP financial measures should not be considered in isolation or construed as alternatives to total operating costs and expenses, net income attributable to ordinary shareholders of UP Fintech or any other measure of performance or as an indicator of our operating performance. Investors are encouraged to review these historical non-GAAP financial measures in light of the most directly comparable GAAP measures. These non-GAAP financial measures presented here may not be comparable to similarly titled measures presented by other companies. Other companies may calculate similarly titled measures differently, limiting the usefulness of such measures when analyzing our data comparatively. We encourage investors and others to review our financial information in its entirety and not rely on a single financial measure.
About UP Fintech Holding Limited
UP Fintech Holding Limited is a leading online brokerage firm focusing on global investors. The Company’s proprietary mobile and online trading platform enables investors to trade in equities and other financial instruments on multiple exchanges around the world. The Company offers innovative products and services as well as a superior user experience to customers through its “mobile first” strategy, which enables it to better serve and retain current customers as well as attract new ones. The Company offers customers comprehensive brokerage and value-added services, including trade order placement and execution, margin financing, IPO subscription, ESOP management, investor education, community discussion and customer support. The Company’s proprietary infrastructure and advanced technology are able to support trades across multiple currencies, multiple markets, multiple products, multiple execution venues and multiple clearinghouses.
For more information on the Company, please visit: https://ir.itigerup.com.
Safe Harbor Statement
This announcement contains forward−looking statements. These statements are made under the “safe harbor” provisions of the U.S. Private Securities Litigation Reform Act of 1995. These forward−looking statements can be identified by terminology such as “may,” “might,” “aim,” “likely to,” “will,” “expects,” “anticipates,” “future,” “intends,” “plans,” “believes,” “estimates” and similar statements or expressions. Among other statements, the business outlook and quotations from management in this announcement, the Company’s strategic and operational plans and expectations regarding growth and expansion of its business lines, and the Company’s plans for future financing of its business contain forward-looking statements. The Company may also make written or oral forward-looking statements in its periodic reports to the U.S. Securities and Exchange Commission (“SEC”) on Forms 20−F and 6−K, in its annual report to shareholders, in press releases and other written materials and in oral statements made by its officers, directors or employees to third parties, including the earnings conference call. Statements that are not historical facts, including statements about the Company’s beliefs and expectations, are forward−looking statements. Forward−looking statements involve inherent risks and uncertainties. A number of factors could cause actual results to differ materially from those contained in any forward-looking statement, including but not limited to the following: the Company’s ability to effectively implement its growth strategies; trends and competition in global financial markets; changes in inflation and interest rate; technological advancements; changes in the Company’s revenues and certain cost or expense accounting policies and governmental policies and regulations affecting the Company’s industry and general economic conditions in China, Singapore and other countries; changes in geopolitical policies and conditions; rapid developments in the AI, virtual currency and blockchain industries. Further information regarding these and other risks is included in the Company’s filings with the SEC, including the Company’s annual report on Form 20-F filed with the SEC on April 23, 2025. All information provided in this press release and in the attachments is as of the date of this press release, and the Company undertakes no obligation to update any forward-looking statement, except as required under applicable law. Further information regarding these and other risks is included in the Company’s filings with the SEC.
For investor and media inquiries please contact:
Investor Relations Contact
UP Fintech Holding Limited
Email: ir@itiger.com
| UP FINTECH HOLDING LIMITED UNAUDITED CONDENSED CONSOLIDATED BALANCE SHEETS (All amounts in U.S. dollars (“US$”)) | |||||||
| As of December 31, | As of December 31, | ||||||
| 2024 | 2025 | ||||||
| US$ | US$ | ||||||
| Assets: | |||||||
| Cash and cash equivalents | 393,576,874 | 791,016,893 | |||||
| Cash-segregated for regulatory purpose | 2,464,683,625 | 3,401,889,322 | |||||
| Term deposits | 1,075,260 | 2,061,474 | |||||
| Receivables from customers (net of allowance of US US | 1,052,972,649 | 1,785,416,288 | |||||
| Receivables from brokers, dealers, and clearing organizations | 2,305,740,507 | 2,032,966,861 | |||||
| Financial instruments held, at fair value | 75,547,082 | 85,541,628 | |||||
| Prepaid expenses and other current assets | 17,629,819 | 33,956,983 | |||||
| Amounts due from related parties | 16,720,671 | 19,077,760 | |||||
| Total current assets | 6,327,946,487 | 8,151,927,209 | |||||
| Non-current assets: | |||||||
| Long-term deposits | 1,369,994 | — | |||||
| Right-of-use assets | 10,880,673 | 11,674,596 | |||||
| Property, equipment and intangible assets, net | 15,358,528 | 14,364,025 | |||||
| Crypto assets held | — | 4,339,298 | |||||
| Goodwill | 2,492,668 | 2,492,668 | |||||
| Long-term investments | 7,658,809 | 9,810,822 | |||||
| Equity method investment | 10,203,622 | 10,585,414 | |||||
| Other non-current assets | 6,828,553 | 10,932,109 | |||||
| Deferred tax assets | 8,573,135 | 10,404,896 | |||||
| Total non-current assets | 63,365,982 | 74,603,828 | |||||
| Total assets | 6,391,312,469 | 8,226,531,037 | |||||
| Current liabilities: | |||||||
| Payables to customers | 3,574,651,125 | 5,095,965,998 | |||||
| Payables to brokers, dealers and clearing organizations | 1,914,769,701 | 1,903,912,312 | |||||
| Accrued expenses and other current liabilities | 67,263,254 | 111,689,582 | |||||
| Lease liabilities-current | 4,153,928 | 6,777,918 | |||||
| Convertible bonds-current | — | 111,178,103 | |||||
| Amounts due to related parties | 874,331 | 69,935,059 | |||||
| Total current liabilities | 5,561,712,339 | 7,299,458,972 | |||||
| Convertible bonds | 159,505,397 | 51,000,000 | |||||
| Lease liabilities-non-current | 5,902,323 | 4,198,997 | |||||
| Deferred tax liabilities | 2,068,661 | 1,694,325 | |||||
| Total liabilities | 5,729,188,720 | 7,356,352,294 | |||||
| Mezzanine equity | |||||||
| Redeemable non-controlling interest | 7,177,668 | 4,946,478 | |||||
| Total Mezzanine equity | 7,177,668 | 4,946,478 | |||||
| Shareholders’ equity: | |||||||
| Class A ordinary shares | 25,427 | 25,802 | |||||
| Class B ordinary shares | 976 | 976 | |||||
| Additional paid-in capital | 619,030,730 | 634,203,244 | |||||
| Statutory reserve | 12,425,463 | 15,587,049 | |||||
| Retained earnings | 37,843,547 | 208,408,915 | |||||
| Treasury Stock | (2,172,819 | ) | (2,172,819 | ) | |||
| Accumulated other comprehensive (loss) income | (11,919,310 | ) | 9,454,230 | ||||
| Total UP Fintech shareholders’ equity | 655,234,014 | 865,507,397 | |||||
| Non-controlling interests | (287,933 | ) | (275,132 | ) | |||
| Total equity | 654,946,081 | 865,232,265 | |||||
| Total liabilities, mezzanine equity and equity | 6,391,312,469 | 8,226,531,037 | |||||
| UP FINTECH HOLDING LIMITED | ||||||||||||||||||||
| UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME/(LOSS) | ||||||||||||||||||||
| (All amounts in U.S. dollars (“US$”), except for number of shares (or ADSs) and per share (or ADS) data) | ||||||||||||||||||||
| For the three months ended | For the years ended | |||||||||||||||||||
| December 31, | September 30, | December 31, | December 31, | December 31, | ||||||||||||||||
| 2024 | 2025 | 2025 | 2024 | 2025 | ||||||||||||||||
| US$ | US$ | US$ | US$ | US$ | ||||||||||||||||
| Revenues: | ||||||||||||||||||||
| Commissions | 55,964,174 | 72,908,334 | 70,831,784 | 159,045,052 | 266,834,904 | |||||||||||||||
| Interest related income | ||||||||||||||||||||
| Financing service fees | 2,770,419 | 2,762,166 | 2,665,790 | 11,311,560 | 10,722,961 | |||||||||||||||
| Interest income | 55,762,091 | 73,224,073 | 71,278,563 | 191,754,746 | 256,997,093 | |||||||||||||||
| Other revenues | 9,605,165 | 26,265,671 | 30,798,536 | 29,430,071 | 77,509,959 | |||||||||||||||
| Total revenues | 124,101,849 | 175,160,244 | 175,574,673 | 391,541,429 | 612,064,917 | |||||||||||||||
| Interest expense | (16,731,341 | ) | (21,942,151 | ) | (19,033,392 | ) | (60,803,516 | ) | (73,355,788 | ) | ||||||||||
| Total Net Revenues | 107,370,508 | 153,218,093 | 156,541,281 | 330,737,913 | 538,709,129 | |||||||||||||||
| Operating costs and expenses: | ||||||||||||||||||||
| Execution and clearing | (6,095,132 | ) | (4,477,846 | ) | (5,322,380 | ) | (14,651,612 | ) | (20,537,788 | ) | ||||||||||
| Employee compensation and benefits | (37,163,110 | ) | (47,209,787 | ) | (50,325,415 | ) | (122,365,537 | ) | (167,169,609 | ) | ||||||||||
| Occupancy, depreciation and amortization | (2,137,586 | ) | (2,759,643 | ) | (2,853,458 | ) | (8,554,315 | ) | (10,491,419 | ) | ||||||||||
| Communication and market data | (11,787,814 | ) | (11,800,637 | ) | (14,488,775 | ) | (38,893,381 | ) | (46,456,565 | ) | ||||||||||
| Marketing and branding | (9,507,918 | ) | (12,888,969 | ) | (15,831,013 | ) | (28,530,053 | ) | (49,462,729 | ) | ||||||||||
| General and administrative | (6,432,737 | ) | (10,299,692 | ) | (14,026,279 | ) | (39,278,674 | ) | (36,209,499 | ) | ||||||||||
| Total operating costs and expenses | (73,124,297 | ) | (89,436,574 | ) | (102,847,320 | ) | (252,273,572 | ) | (330,327,609 | ) | ||||||||||
| Other income (loss): | ||||||||||||||||||||
| Others, net | 3,469,021 | 1,327,184 | 435,182 | 3,299,308 | (939,034 | ) | ||||||||||||||
| Income before income tax | 37,715,232 | 65,108,703 | 54,129,143 | 81,763,649 | 207,442,486 | |||||||||||||||
| Income tax expenses | (9,488,084 | ) | (11,148,629 | ) | (8,763,336 | ) | (20,409,721 | ) | (35,960,865 | ) | ||||||||||
| Net income | 28,227,148 | 53,960,074 | 45,365,807 | 61,353,928 | 171,481,621 | |||||||||||||||
| Less: net income (loss) attributable to non-controlling interests | 12,563 | 10,052 | 15,299 | (4,477 | ) | 48,896 | ||||||||||||||
| Accretion of redeemable non-controlling interests to redemption value | (164,328 | ) | (132,354 | ) | (118,370 | ) | (630,485 | ) | (533,188 | ) | ||||||||||
| Net income attributable to ordinary shareholders of UP Fintech | 28,050,257 | 53,817,668 | 45,232,138 | 60,727,920 | 170,899,537 | |||||||||||||||
| Other comprehensive income (loss), net of tax: | ||||||||||||||||||||
| Unrealized gain on available-for-sale investments | 343,892 | — | 2,207,391 | 343,892 | 2,207,391 | |||||||||||||||
| Changes in cumulative foreign currency translation adjustment | (17,440,809 | ) | (1,123,148 | ) | 4,428,703 | (9,022,611 | ) | 19,154,156 | ||||||||||||
| Total Comprehensive income | 11,130,231 | 52,836,926 | 52,001,901 | 52,675,209 | 192,843,168 | |||||||||||||||
| Less: comprehensive income attributable to non-controlling interests | 24,226 | 8,301 | 10,390 | 3,121 | 36,902 | |||||||||||||||
| Accretion of redeemable non-controlling interests to redemption value | (164,328 | ) | (132,354 | ) | (118,370 | ) | (630,485 | ) | (533,188 | ) | ||||||||||
| Total Comprehensive income attributable to ordinary shareholders of UP Fintech | 10,941,677 | 52,696,271 | 51,873,141 | 52,041,603 | 192,273,078 | |||||||||||||||
| Net income per ordinary share: | ||||||||||||||||||||
| Basic | 0.011 | 0.020 | 0.017 | 0.025 | 0.064 | |||||||||||||||
| Diluted | 0.011 | 0.019 | 0.016 | 0.024 | 0.062 | |||||||||||||||
| Net income per ADS (1 ADS represents 15 Class A ordinary shares): | ||||||||||||||||||||
| Basic | 0.164 | 0.304 | 0.255 | 0.379 | 0.967 | |||||||||||||||
| Diluted | 0.158 | 0.290 | 0.244 | 0.366 | 0.927 | |||||||||||||||
| Weighted average number of ordinary shares used in calculating net income per ordinary share: | ||||||||||||||||||||
| Basic | 2,557,911,677 | 2,656,878,202 | 2,664,351,020 | 2,404,640,854 | 2,651,608,820 | |||||||||||||||
| Diluted | 2,687,607,158 | 2,819,534,135 | 2,819,097,516 | 2,534,097,315 | 2,807,732,382 | |||||||||||||||
| Reconciliations of Unaudited Non-GAAP Results of Operations Measures to the Nearest Comparable GAAP Measures (All amounts in U.S. dollars (“US$”), except for number of ADSs and per ADS data) | ||||||||||||||||||||||||||||||||||||
| For the three months ended December 31, 2024 | For the three months ended September 30, 2025 | For the three months ended December 31, 2025 | ||||||||||||||||||||||||||||||||||
| non-GAAP | non-GAAP | non-GAAP | ||||||||||||||||||||||||||||||||||
| GAAP | Adjustment | non-GAAP | GAAP | Adjustment | non-GAAP | GAAP | Adjustment | non-GAAP | ||||||||||||||||||||||||||||
| US$ | US$ | US$ | US$ | US$ | US$ | US$ | US$ | US$ | ||||||||||||||||||||||||||||
| Share-based compensation | 2,421,342 | 3,230,443 | 3,677,271 | |||||||||||||||||||||||||||||||||
| Net income attributable to ordinary shareholders of UP Fintech | 28,050,257 | 2,421,342 | 30,471,599 | 53,817,668 | 3,230,443 | 57,048,111 | 45,232,138 | 3,677,271 | 48,909,409 | |||||||||||||||||||||||||||
| Net income per ADS - diluted | 0.158 | 0.172 | 0.290 | 0.307 | 0.244 | 0.264 | ||||||||||||||||||||||||||||||
| Weighted average number of ADSs used in calculating diluted net income per ADS | 179,173,811 | 179,173,811 | 187,968,942 | 187,968,942 | 187,939,834 | 187,939,834 | ||||||||||||||||||||||||||||||
| Reconciliations of Unaudited Non-GAAP Results of Operations Measures to the Nearest Comparable GAAP Measures (All amounts in U.S. dollars (“US$”), except for number of ADSs and per ADS data) | ||||||||||||||||||||||||
| For the year ended December 31, 2024 | For the year ended December 31, 2025 | |||||||||||||||||||||||
| non-GAAP | non-GAAP | |||||||||||||||||||||||
| GAAP | Adjustment | non-GAAP | GAAP | Adjustment | non-GAAP | |||||||||||||||||||
| US$ | US$ | US$ | US$ | US$ | US$ | |||||||||||||||||||
| Share-based compensation | 9,736,901 | 15,609,141 | ||||||||||||||||||||||
| Net income attributable to ordinary shareholders of UP Fintech | 60,727,920 | 9,736,901 | 70,464,821 | 170,899,537 | 15,609,141 | 186,508,678 | ||||||||||||||||||
| Net income per ADS - diluted | 0.366 | 0.424 | 0.927 | 1.011 | ||||||||||||||||||||
| Weighted average number of ADSs used in calculating diluted net income per ADS | 168,939,821 | 168,939,821 | 187,182,159 | 187,182,159 | ||||||||||||||||||||
FAQ
What were UP Fintech's full year 2025 revenue and net income (TIGR)?
How did TIGR perform in Q4 2025 for revenue and earnings per ADS?
How large were UP Fintech's client assets and growth in 2025 (TIGR)?
How many funded customers did TIGR add in 2025 and what's the 2026 target?
What drove UP Fintech's higher operating costs in 2025 (TIGR)?
What non-GAAP metrics did TIGR report for 2025 and Q4 2025?
