NEW YORK, March 19, 2026 /PRNewswire/ -- UP Fintech Holding Limited (NASDAQ: TIGR) ("UP Fintech" or the "Company"), announced its unaudited financial results for the fourth quarter and full-year ended December 31, 2025. In the fourth quarter, the Company achieved a revenue of US$175.6 million, up 41.5% year-over-year (YoY), while full-year revenue reached US$612.1 million, a 56.3% increase—setting a new record high. Non-GAAP net income attributable to UP Fintech shareholders for the quarter was US$48.9 million, up 60.5% YoY. Full-year non-GAAP net income attributable to the Company grew 164.7% YoY to US$186.5 million, reaching another record.
In the fourth quarter, UP Fintech added 29,700 funded accounts, bringing the total number of funded accounts to 1.25 million, up 14.8% YoY. For the full year of 2025, the Company added 161,900 funded accounts, exceeding its annual guidance. Market trading activity remained strong during the quarter, with total trading volume increasing 59.9% YoY to US$316.6 billion. Net asset inflow remained robust at US$3 billion, driving total client assets up 45.7% YoY to US$60.8 billion.
UP Fintech's founder and CEO, Wu Tianhua, stated: "In 2025, the Company delivered steady growth across all business lines, while our internationalization strategy continued to progress solidly. Both annual revenue and net profit achieved significant year-over-year growth, with net asset inflow exceeding US$10 billion in 2025. These reflect not only the continued growth momentum made by our global footprint, but also the solid progress in improving operating efficiency and strengthening business resilience. Across global markets, we continued to attract high-quality clients. At our headquarters in Singapore, client assets grew by more than 50% YoY in the fourth quarter. Growth in Hong Kong was even stronger, with client assets more than tripling YoY, while average net asset inflow per new client reached a record US$43,000. Client assets in Australia and New Zealand also more than doubled YoY. Behind these results is the growing recognition and trust global users place in the Tiger platform."
"We continued to enhance our platform products and features to improve the user experience. In the fourth quarter, building on our options combo feature, we upgraded it to allow users to execute complex orders of US options and underlying stock contracts, enabling clients to implement more complex trading strategies that adapt to market changes. Our localized product offerings also continued to evolve: in Singapore, Cash Boost Accounts now support the sale of US fractional shares and odd-lot Singapore stocks, further enhancing flexibility in managing smaller holdings; in Australia, we introduced margin accounts to help users improve capital utilization efficiency; and in the US, we recently launched recurring deposit functionality that provides users with more flexible cash management options. From trading tools to cash management, Tiger continues to expand and refine its product suite for global investors. Looking ahead, we will further strengthen our service capabilities and competitiveness across regional markets, helping users access diversified global assets more easily and efficiently while delivering long-term, sustainable value."
Singapore strengthens local Leadership with 8 consecutive quarters of growth
Hong Kong Q4 trading volume surges 13-fold YoY, earns multiple local awards
In 2025, the Company continued to advance its global strategy steadily, with brand recognition and user trust deepening across key markets. In Singapore, Tiger further consolidated its leading position among local digital brokerages, delivering solid quarterly and full-year performance. Full-year net profit rose 96% YoY, while total trading orders increased 52% YoY, both reaching historical highs. In Q4, growth momentum remained strong with both trading orders and trading accounts expanding for the eighth consecutive quarter. Q4 trading orders increased 34% YoY, while total trading volume rose 25.6% quarter over quarter (QoQ), setting new quarterly highs for both metrics. Meanwhile, the Company continued to attract high-quality clients, as client assets rose 50% YoY during the quarter. On the localization front, Tiger further strengthened user trust in Singapore through ongoing service enhancements. Annual spending volume on the Tiger BOSS Debit Card* increased nearly 40% YoY in 2025. The card also recently partnered with shared mobility brand HelloRide to promote healthy commuting and further integrate into local daily life scenarios. In addition, the Company upgraded its Singapore-tailored Cash Boost Account (CDP-linked account type), which now supports the sale of US fractional shares and odd-lot Singapore-listed stocks, further improving flexibility for users managing smaller holdings. Alongside its growing user base, the Company has forged stronger ties with the local community. Its flagship annual event, Tiger Trade Experience 2025, attracted over 4,000 local participants and received broad positive feedback. Tiger also partnered with local non-profit FootballPlus to host its first charity fundraiser, raising SGD 300,000 to support youth development programmes expected to benefit more than 400 children in 2026. From investment services to community outreach, Tiger is engaging with local communities through a diverse range of initiatives, steadily strengthening brand influence and user trust.
In Hong Kong, the business delivered strong momentum throughout 2025, with full-year trading volume and order volume increasing 840.9% and 181.4% YoY, respectively. Client quality continued to improve as well, as fourth-quarter client assets more than tripled YoY and average net asset inflows per new funded client reached US$43,000. Trading activity remained robust in the quarter, with Q4 trading volume and order volume surging 1305% and 132% YoY. By product category, US futures became the key growth driver, with order volume rising 459% YoY and trading volume increasing nearly 30-fold in Q4. Hong Kong futures also recorded strong performance, with trading volume growing more than 17 times YoY, reflecting sustained demand for derivatives amid heightened market volatility. Meanwhile, US and Hong Kong stocks order volume increased 125% and 212% respectively YoY, while US and Hong Kong options order volume rose 90% and 448%. Virtual asset trading also remained highly active. Crypto order volume increased 228% YoY and 60.9% QoQ in Q4. In terms of brand and market recognition, the Company received several major industry recognitions during the quarter, including CME Group's "F&O Journey Driver 2025", "Innovative Broker 2025", and "Education Motivator 2025" as well as SGX's "Top 5 Chinese Futures Brokers for China Equity Index Derivatives 2025" award. In addition, Tiger sponsored the CFA Institute Research Challenge Hong Kong Final, continuing its support for local financial education and youth talent development while strengthening connections with Hong Kong's next generation of finance professionals.
In the US, TradeUP maintained steady business growth. Total trading volume from local clients increased significantly by 82.4% QoQ. Demand for trading products remained robust, with US stock and US options order volumes rising by 143.7% and 147% QoQ, respectively, highlighting growing interest in derivatives trading among local investors. On product updates, TradeUP officially launched recurring deposits during Q4, offering investors greater flexibility in cash management and further enhancing client retention and platform engagement. Meanwhile, options trading functionality continued to improve, with cash accounts now supporting Level 2 options trading, facilitating user access to diverse trading strategies.
In Australia and New Zealand, the Company continued to deepen its local service capabilities, earning the trust of local investors through stable and reliable product experiences. In Australia, Q4 new account openings increased 48.3% YoY, net asset inflows rose 81.6%, total trading volume grew 76.8%, and gross revenue increased 79.4%. Meanwhile, Tiger Australia launched margin accounts in December 2025, offering investors more competitive margin financing and securities lending services to further enhance capital flexibility. From trading tools to cash management, Tiger is building a more comprehensive product ecosystem to support Australian investors over the long term.
In New Zealand, the Company also continued to receive strong positive feedback from local investors. Net asset inflows increased 114% YoY during the period, while total trading volume surged 357.4% YoY and 88.8% QoQ. Participation in US markets remained strong, with US stock order volume increasing 70.8% YoY and US options order volume rising 55.1%. This reflects continued demand among local users for global asset allocation and more diversified trading tools.
Wealth penetration rises as Tiger Vault AUC nearly doubles in Q4
Hong Kong IPO margin financing hits record HK$1 trillion
In the fourth quarter, UP Fintech's commission income reached US$70.8 million, up 26.6% YoY. Interest-related income amounted to US$73.9 million, an increase of 26.3% YoY. The Company continued to enhance its one-stop global investing experience, making trading more convenient and intelligent for users. On the product side, Tiger further upgraded its US stocks offering by launching a new one-click order function for complex US stock and options strategies, allowing users to execute multi-leg positions more efficiently without manually splitting orders or calculating prices. For institutional clients, Group Trade now supports Iceberg orders, TWAP and VWAP orders, as well as one-click trading, improving efficiency and stability for large-order trading and better meeting professional trading needs. TigerAI also completed several major upgrades during the quarter, including voice input and broadcast features, automatic @Agent routing based on user queries, and one-click AI explanations for financial terms, enabling faster and more precise interactions. As AI capabilities continued to improve, total quarterly TigerAI conversations increased nearly 11.5 times YoY. Overall platform trading activity remained strong across product categories, with total DARTs increasing 28% YoY in Q4. 24-hour trading experience was also enhanced, with the after-hours US stock DARTs rising 119.5% YoY.
Hong Kong IPO activity also remained robust, with IPO subscription amount on the platform doubling again QoQ as newly listed companies continued to perform strongly on debut. Full-year margin financing subscription amount reached HK$1.2 trillion in 2025, surpassing the HK$1 trillion mark for the first time and setting a new record**. During Q4, the number of IPO subscribers increased 81.9% QoQ and 17 times YoY, while subscription amount rose 95.3% QoQ and 52 times YoY. Particularly, subscription amount from Tiger's Hong Kong clients grew 173.4% QoQ, significantly outpacing the broader market.
On the wealth management side, user penetration continued to improve steadily. Currently, one in every five newly funded clients on the platform uses wealth management services. In Q4, public fund AUC increased 98.9% YoY, while the number of users rose 47.2%. Tiger Vault, the Company's cash management tool, remained highly popular, with total AUC increasing 94.3% YoY. Hong Kong in particular delivered standout growth, with Tiger Vault AUC surging 2.65 times YoY. Structured notes also entered a rapid growth phase, as transaction volume rose 50.6% QoQ and the number of trading accounts increased severalfold YoY. Hong Kong remained the strongest contributor, with Q4 asset management AUC increasing 144% QoQ, reflecting growing local recognition of Tiger's wealth management capabilities.
TradingFront's turnkey asset management platform (TAMP) continued to gain broad recognition among trading-oriented institutional clients through ongoing product and service enhancements. In Q4, platform AUC increased 30.6% QoQ, while total account numbers maintained double-digit growth. The number of referral accounts increased 16.8% QoQ, further validating our hybrid approach to advisor-client profitability. On product innovation, TradingFront launched its proprietary ideation engine SmartFund AI, enabling wealth managers to generate sophisticated unit trust recommendations instantly based on institutional fund-selection criteria and client risk preferences, significantly reducing research latency while ensuring smarter alignment with clients' investment goals. The platform also launched the Portfolio Backtest module, helping advisers validate investment views through systematic historical performance analysis. In addition, structured note offerings were further expanded in the fourth quarter as Singapore-listed equities were added as eligible underlying assets, offering users broader regional asset allocation choices.
Investment Banking maintains momentum
ESOP net profit surges 400% YoY
In the fourth quarter, other revenue — including investment banking, ESOP, and other corporate services — reached US$30.8 million, up 17.3% QoQ and 220.6% YoY. During the quarter, the Company's investment banking business completed 20 Hong Kong IPOs, up 250% QoQ, including Pony.ai, the largest global autonomous driving IPO of 2025; CNGR Advanced Material, the first A+H listing in the new energy materials sector; Chuangxin Industries, a benchmark enterprise in China's aluminum supply chain; and HashKey Group, the sole digital asset IPO in Hong Kong in 2025. Among the 20 IPOs, the Company also completed two Chapter 18C Hong Kong IPOs (Yunji Technology and CiDi Inc.) and three Chapter 18A Hong Kong IPOs during the quarter, further strengthening its underwriting advantage in new economy and innovation sectors. In the US, the Company completed three IPOs this quarter, including serving as a distributor in Medline Industries, the world's largest IPO of 2025, which raised US$6.25 billion. For the other two deals, the Company acted as sole lead underwriter, further underscoring its growing lead‑underwriting capabilities. For full-year 2025, Tiger's investment banking business continued to expand, serving as lead underwriter or syndicate underwriter in a total of 53 underwriting deals, marking a significant step forward in both service capacity and market influence.
On the ESOP side, UponeShare added 39 new clients in Q4, including Yunji Technology, ZJLD Group and CM Energy Tech, bringing the total client base to 748 companies. For the full year 2025, ESOP added 135 new clients. Supported by continued market-driven operations and business expansion, annual revenue increased more than 40% YoY, net profit rose more than 400%YoY, and annual new client additions grew over 70%.
For Tiger Enterprise Account, the Company added 18 new enterprise clients this quarter—including Joyson Electronics, Shenzhen Senior Technology Material, CNGR Advanced Material and Nanhua Futures, bringing the cumulative total to 522. New clients spanned listed companies and innovation-driven enterprises across advanced manufacturing, healthcare, financial services, and intelligent technology sectors, further strengthening the platform's high-quality corporate ecosystem. During Q4, the platform also livestreamed several major corporate events, including Leapmotor's 10th anniversary event, Li Auto's LiviS AI glasses launch and earnings call, and Faraday Future's FX Super One Middle East global launch, further enhancing the platform's influence in high-value corporate communications and industry connectivity.
About UP Fintech
UP Fintech Holding Limited (Nasdaq: TIGR), also known as Tiger Brokers, is a leading online brokerage firm with a focus on redefining global investing with technologies for the next generation.
Since inception, the Company has been committed to offering a high-quality user experience, with the goal of becoming a world-leading online brokerage while helping investors access efficient and smart global investing. We offer a diversified range of financial products and services across brokerage, employee stock ownership plan (ESOP) management, investment banking, wealth management, investor community, and investor education.
UP Fintech strives to elevate financial technology R&D to a new level. While we inherit the best traditions from the financial sector and blend them with the best minds of tech experts, we develop our own technology infrastructure—an aggregation that enables multi-currency trading of various products across markets, guaranteeing our reliable, secure, and scalable services are accessible to all with low latency.
In 2019, UP Fintech was listed on Nasdaq as UP Fintech Holding Limited under the ticker TIGR. We currently serve over 10 million users and over 2.6 million account holders worldwide through our flagship platform "Tiger Trade" and hold 82 licenses and qualifications across our global markets.
For more information about Tiger Brokers, please visit itiger.com
*Tiger Brokers (Singapore) Pte Ltd partners with locally licensed institutions to provide debit card issuance and account services.
**Data source: Company internal data, Tiger Trade, AIPO and publicly available market information.
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