Record Revenue Growth
Total revenue reached USD 175.2 million, representing a year-over-year increase of 73.3% and a quarter-over-quarter increase of 26.3%.
Strong Net Income and Profitability
Net income attributable to UP Fintech was USD 53.8 million, up 30% from the previous quarter and 3x the same quarter last year. Non-GAAP net profit reached USD 57 million, growing 28.2% quarter-over-quarter and 2.8x year-over-year.
User Growth and Market Expansion
Added 31,500 new funded accounts in Q3, with Singapore and Hong Kong as primary markets. Total funded accounts reached 1,224,200, an 18.5% year-over-year increase.
Increase in Client Assets
Total client assets reached a new record of USD 61 billion, up 17.3% quarter-over-quarter and 49.7% year-over-year.
Successful IPO Underwriting
Underwrote 5 U.S. IPOs and 5 Hong Kong IPOs, leading to a 39.3% increase in IPO subscribers and a 121.5% surge in subscription amounts.
Significant Growth in Interest and Commission Income
Interest income was USD 73.2 million, increased 53% year-over-year and 25% quarter-over-quarter. Commission income was USD 72.9 million, increased 77% year-over-year and 13% quarter-over-quarter.