UP Fintech reports Q1 EPS 19.8c vs. 9.2c last year

Reports Q1 revenue $122.6M vs. $78.9M last year. Wu Tianhua, Chairman and CEO of UP Fintech (TIGR) stated: “The macro environment remained dynamic in the first quarter, our total revenues reached US$122.6 million, representing an increase of 55.3% year-over-year. Benefiting from our brand strength and continued investment in R&D, both our GAAP and non-GAAP net income saw impressive growth. Net income attributable to ordinary shareholders of UP Fintech was US$30.4 million, up 8.4% quarter over quarter and 146.7% year over year. Non-GAAP net income attributable to ordinary shareholders of UP Fintech reached US$36.0 million, an increase of 18.3% sequentially and 145.0% from the same period last year. In the first quarter, we added 60,900 new customers with deposits, already achieving 40% of our yearly guidance of 150,000 new customers with deposits for 2025, and bringing our total number of customers with deposits at the end of the first quarter to 1,152,900, a 23.5% increase compared to the same quarter last year. Asset inflow remained strong, we saw net asset inflow of US$3.4 billion in the first quarter, of which the majority comes from retail users, combining with a US$776 million mark to market gain, led total account balance rose by 9.9% quarter over quarter and 39.5% year over year to US$45.9 billion, setting another historic high. We also achieved notable growth in Hong Kong, the average net asset inflows of new funded clients in Hong Kong during the first quarter were above US$30,000.”