Q2 2025 UP Fintech Holding Ltd Earnings Call Transcript
Key Points
- UP Fintech Holding Ltd (TIGR) reported a total revenue of USD139 million for Q2 2025, marking a 58.7% year-over-year increase and a 13.1% quarter-over-quarter growth.
- Trading volume surged to USD284 billion, contributing to a 90.1% year-over-year increase in commission income, reaching USD64.8 million.
- Net income attributable to UP Fintech for Q2 was USD41.4 million, up 36.2% from the previous quarter and 16 times higher than the same quarter last year.
- The company added 38,900 new funded accounts in Q2, with significant contributions from Singapore and Hong Kong.
- Total client assets reached a record USD52.1 billion, up 13.5% quarter-over-quarter and 36.3% year-over-year, marking 11 consecutive quarters of growth.
- Interest expense increased by 28% year-over-year to USD17.3 million, in line with the increase in interest income and margin and securities lending business.
- Execution and clearing expenses rose by 92% from the same period last year, reflecting increased commission and trading volume.
- Employee compensation and benefits expenses increased by 25% year-over-year due to headcount increases in overseas offices and R&D.
- Marketing expenses increased by 54% year-over-year as the company expanded its marketing activities.
- The average customer acquisition cost (CAC) in Hong Kong is relatively high at around USD400, although the payback period remains healthy at about two quarters.
Ladies and gentlemen, thank you for standing by, and welcome to the UP Fintech Holding Limited second quarter 2025 earnings conference call. (Operator Instructions) I must advise you that this conference is being recorded today, August 27, 2025. I would now like to hand the conference over to your first speaker today, Mr. Aaron Li, the Head of Investor Relations. Thank you. Please go ahead.
Thank you, operator. Hello, everyone, and thank you for joining us on the call today. UP Fintech Holding Limited's second quarter 2025 earnings release was distributed earlier today and is available on our IR website at ir.itigerup.com as well as Globe Newswire services.
On the call today from UP Fintech are Mr. Wu Tianhua, Chairman and Chief Executive Officer; Mr. John Zeng, Chief Financial Officer; Mr. Huang Lei, CEO of US Tiger Securities; and Mr. Kenny Zhao, our Financial Controller. Mr. Wu will give an overview of our business operations and discuss Corporate highlights. Mr. Zeng will then discuss our
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