UP Fintech Holding Limited (NASDAQ: TIGR) (“UP Fintech” or the “Company”), a leading online brokerage firm focusing on global investors, today announced its unaudited financial results for the second quarter ended June 30, 2026.
Mr. Wu Tianhua, Chairman and CEO of UP Fintech stated: “In the second quarter, we saw substantial improvement in both commission income and interest related income compared with both the prior quarter and the same quarter of last year. Our total revenue for the second quarter reached US$182.3 million, hitting an all-time high and representing a sequential increase of 17.7% and a year-over-year growth of 31.4%. Income from operations for the second quarter reached US$56.8 million, representing a quarter-over-quarter increase of 19.5% and year-over-year growth of 12.6%. GAAP and non-GAAP net income attributable to UP Fintech reached US$39.4 million and US$42.8 million respectively, versus the GAAP and non-GAAP net losses of US$26.9 million and US$23.8 million in the prior quarter.
“In the second quarter, we added 32,600 new funded clients, the great majority of which came from Singapore and Hong Kong markets. Our total funded accounts reached 1,315,400 at quarter end, representing a 10.3% year-over-year increase. We continued to generate solid net asset inflows from overseas retail users, which amounted to over $1.5 billion in the second quarter. Fueled by mark-to-market gains, total client assets stood at US$60.7 billion at the end of the second quarter, reflecting a 3.1% quarter-over-quarter increase and a 16.7% year-over-year growth. Client assets across all of our overseas markets posted quarter-over-quarter growth. In the Hong Kong market, we rolled out more offline client-acquisition initiatives and expanded branding exposure, driving local client assets up by nearly 30% quarter-over-quarter. Client assets in the Australia-New Zealand market and the U.S. market grew by more than 30% and nearly 50% quarter-over-quarter, respectively. This demonstrates that thanks to the diversified development of our core businesses and continued execution of our internationalization strategy, we have earned sustained trust and recognition from both new and existing users across all the markets we entered.
“We continued to iterate localized functions and upgrade our product ecosystem to deliver a more streamlined and user-centric trading experience in the second quarter. For the Singapore market, we further enhanced localized trading capabilities by launching fractional share trading for Singapore-listed stocks and REITs. The initiative effectively lowered market entry barriers, making local investment more accessible and friendly to novice investors. Furthermore, to streamline users’ compliance procedures and reduce tax declaration complexities, we rolled out a dedicated tax reporting tool under our Hong Kong, Singapore and New Zealand regulatory licenses. The upgraded tool optimizes the end-to-end tax filing experience, enabling users to directly view and download annual tax reference documents via our mobile app and official website personal center. It comprehensively covers key tax data including trading profits and losses, dividend income, as well as interest and coupon earnings. Additionally, we launched “Cboe” index options trading in Hong Kong, and hosted a dedicated launch event for TigerX Cboe index options alongside a series of investor education initiatives, further enriching the range of trading products available to local investors.
“Our corporate business continued to perform well in the second quarter of 2026. We underwrote 14 Hong Kong IPOs, including “CloudNavi” and “DeepZero”. We also participated in the distribution of four U.S. IPOs, among which were “DSOCHE” and “Micware”. Our ESOP business delivered steady growth during the quarter. We added 50 new ESOP clients in the second quarter, bringing our aggregate ESOP client served to 840 as of June 30, 2026.
“To date, we have repurchased approximately US$5 million worth of our American Depositary Shares (“ADSs”), which represent the Company’s Class A ordinary shares. These buyback activities fall under the 12-month share repurchase plan we announced on June 2, 2026. Moving forward, we will assess market conditions and may execute additional buyback activities from time to time under the existing share repurchase program.”
Financial Highlights for Second Quarter 2026
Total revenues were US$182.3 million, an increase of 31.4% year-over-year and an increase of 17.7% quarter-over-quarter.
Total net revenues were US$160.7 million, an increase of 32.4% year-over-year and an increase of 17.6% quarter-over-quarter.
Net income attributable to ordinary shareholders of UP Fintech was US$39.4 million compared to a net income of US$41.4 million in the same quarter of last year.
Non-GAAP net income attributable to ordinary shareholders of UP Fintech was US$42.8 million, compared to a non-GAAP net income of US$44.5 million in the same quarter of last year. A reconciliation of non-GAAP financial metrics to the most comparable GAAP metrics is set forth below.
Operating Highlights for Second Quarter 2026
Total account balance increased 16.7% year-over-year to US$60.7 billion.
Total margin financing and securities lending balance increased 28.9% year-over-year to US$7.4 billion.
Total number of customers with deposit increased 10.3% year-over-year to 1,315.4 thousand.
Second Quarter 2026 Financial Results
REVENUES
Total revenues were US$182.3 million, an increase of 31.4% from US$138.7 million in the same quarter of last year.
Commissions were US$78.3 million, an increase of 20.9% from US$64.8 million in the same quarter of last year, due to an increase in trading volume.
Financing service fees were US$3.2 million, an increase of 16.7% from US$2.7 million in the same quarter of last year, primarily due to the increase in margin financing activities of our fully disclosed account customers.
Interest income was US$79.8 million, an increase of 36.0% from US$58.7 million in the same quarter of last year, primarily due to the increase in margin financing and securities lending activities of our consolidated account customers.
Other revenues were US$21.0 million, an increase of 67.6% from US$12.5 million in the same quarter of last year, primarily due to the increase of our wealth management service revenue and exchange revenue.
Interest expense was US$21.5 million, an increase of 24.1% from US$17.3 million in the same quarter of last year, primarily due to the increase in funding for margin financing and securities lending activities.
OPERATING COSTS AND EXPENSES
Total operating costs and expenses were US$103.9 million, an increase of 46.5% from US$71.0 million in the same quarter of last year.
Execution and clearing expenses were US$6.8 million, an increase of 25.3% from US$5.4 million in the same quarter of last year due to an increase in our trading volume.
Employee compensation and benefits expenses were US$50.0 million, an increase of 39.4% from US$35.8 million in the same quarter of last year, primarily due to one-time severance costs recognized as part of the Group’s business line optimization and higher performance-based bonus accruals.
Occupancy, depreciation and amortization expenses were US$2.8 million, a slight increase of 2.5% from US$2.7 million in the same quarter of last year.
Communication and market data expenses were US$16.2 million, an increase of 56.4% from US$10.4 million in the same quarter of last year due to the increase of IT-related service fees.
Marketing and branding expenses were US$18.4 million, an increase of 86.6% from US$9.9 million in the same quarter of last year, primarily due to higher marketing spending this quarter.
General and administrative expenses were US$9.8 million, an increase of 44.6% from US$6.7 million in the same quarter of last year due to an increase in bad debts expense, as the prior-year quarter included reversals of allowance for credit losses upon loan repayments, which reduced expenses in the comparative period.
NET INCOME attributable to ordinary shareholders of UP Fintech
Net income attributable to ordinary shareholders of UP Fintech was US$39.4 million, as compared to a net income of US$41.4 million in the same quarter of last year. Net income per ADS (1 ADS represents 15 Class A ordinary shares) – diluted was US$0.21, as compared to a net income per ADS – diluted of US$0.23 in the same quarter of last year.
Non-GAAP net income attributable to ordinary shareholders of UP Fintech, which excludes share-based compensation was US$42.8 million, as compared to a US$44.5 million in the same quarter of last year. Non-GAAP net income per ADS – diluted was US$0.23 as compared to a non-GAAP net income per ADS – diluted of US$0.24 in the same quarter of last year.
For the second quarter of 2026, the Company’s weighted average number of ADSs used in calculating non-GAAP net income per ADS – diluted was 185,044,751. As of June 30, 2026, the Company had a total of 2,697,680,337 Class A and B ordinary shares outstanding, or the equivalent of 179,845,356 ADSs.
CERTAIN OTHER FINANCIAL ITEMS
As of June 30, 2026, the Company’s cash and cash equivalents, and term deposits were US$544.6 million, compared to US$793.1 million as of December 31, 2025.
Conference Call Information:
UP Fintech’s management will hold an earnings conference call at 8:00 AM on August 26, 2026, U.S. Eastern Time (8:00 PM on August 26, 2026 Singapore/Hong Kong Time).
All participants wishing to attend the call must preregister online before receiving the dial-in number. Preregistration may take a few minutes to complete.
Preregistration Information:
Please note that all participants will need to pre-register for the conference call, using the link:
https://register-conf.media-server.com/register/BI44c088d3c0c0434cb464ee78ca2d6808
It will automatically lead to the registration page of “UP Fintech Holding Limited Second Quarter 2026 Earnings Conference Call”, where details for RSVP are needed.
Upon registering, all participants will be provided a confirmation email with a participant dial-in number and personal PIN to access the conference call. Please dial in 10 minutes prior to the call start time using the conference access information.
Additionally, a live and archived webcast of the conference call will be available at https://ir.itigerup.com
