Q4 2025 Interactive Brokers Group Inc Earnings Call Transcript
Key Points
- Interactive Brokers Group Inc (IBKR) added over 1 million net new accounts in 2025, marking an annual record for the firm.
- Client equity rose 37% to $780 billion, surpassing $0.75 trillion in client assets for the first time.
- Clients outperformed the S&P 500, with individual investors achieving an average return of 19.2%, financial advisers 20.57%, and hedge fund clients 28.91%.
- Quarterly adjusted pretax income reached a record level of more than $1 billion for the fifth consecutive quarter.
- The company expanded market access to Brazil, Taiwan, the UAE, and Slovenia, with additional countries planned for 2026.
- Net interest income was impacted by multiple rate cuts in major currencies, although it still reached $966 million for the quarter.
- There was a decline in the amount paid to yield on customer credit balances, which did not decrease as much as expected.
- The company faces regulatory uncertainty regarding prediction markets, particularly concerning sports contracts.
- Crypto revenues remain small relative to the overall company's revenues, with limited adoption among clients.
- The company has not yet started the process for obtaining a European banking license, which could provide additional benefits.
Thank you for standing by, and welcome to Interactive Brokers fourth quarter 2025 earnings conference call.
(Operator Instructions) I would now like to hand the call over to Nancy Stuebe, Director of Investor Relations. Please go ahead.
Thank you. Good afternoon, and thank you for joining us for our fourth quarter 2025 earnings call. Joining us today are Thomas Peterffy, our Founder and Chairman; Milan Galik, our President and CEO; and Paul Brody, our CFO. I will be presenting Milan's comments on the business, and all three will be available at our Q&A.
As a reminder, today's call may include forward-looking statements, which represent the company's belief regarding future events, which by their nature, are not certain and are outside of the company's control.
Our actual results and financial condition may differ, possibly materially, from what is indicated in these forward-looking statements. We ask that you refer to the disclaimers in our press
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