Q1 2026 UP Fintech Holding Ltd Earnings Call Transcript
Key Points
- UP Fintech Holding Ltd (TIGR) achieved a 26.3% year-over-year increase in total revenue, reaching USD155 million for the first quarter of 2026.
- The company onboarded 28,900 new funding accounts, with significant contributions from the Singapore and Hong Kong markets.
- Net asset inflow from retail users exceeded USD2 billion for the first time, indicating successful prioritization of user quality.
- US client assets rose nearly 40% quarter-over-quarter, with Australia, New Zealand, and Hong Kong also showing strong growth.
- The company launched a share repurchase program of up to USD50 million, demonstrating confidence in long-term growth and commitment to shareholder value.
- Client assets experienced mark-to-market losses of USD4.9 billion due to market turbulence, resulting in a 3.2% quarter-over-quarter decline.
- The company faced a one-time regulatory penalty of approximately RMB411 million (USD60 million), impacting financial results.
- Commission income decreased by 5% quarter-over-quarter, despite an increase in trading volume.
- The effective tax rate increased due to a non-cash tax adjustment linked to employee stock incentives, affecting income tax expense.
- Mainland retail investors' assets accounted for roughly 10% of total client assets but contributed 20% to 25% of total net revenue, indicating potential vulnerability to regulatory changes.
Ladies and gentlemen, thank you for standing by, and welcome to the UP Fintech Holding Limited first-quarter 2026 earnings conference call. (Operator Instructions) I must advise you that this conference is being recorded today, June 2, 2026.
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 first-quarter 2026 earnings release was distributed earlier today and is available on our IR website at ir.itigerup.com as well as GlobeNewswire services. On the call today from UP we have Mr. Wu Tianhua, Chairman and CEO; Mr. John Zeng, our CFO; Mr. Wang 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 financial results. They will both be
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