Plus500 provided a first-quarter trading update on Monday, showing that revenue fell 5% year-over-year to $205.8 million, despite a 13% increase from the previous quarter.
Plus500 Revenue Falls 5% YoY But it Sees FY2025 Results Ahead of Current Market Expectations
However, the global fintech group said it expects full-year 2025 results to be ahead of current market expectations.
EBITDA for the period came in at $93.8 million, down 9% compared to the first quarter of 2024 but up 23% from the prior quarter.
The EBITDA margin stood at 46%. Customer income edged 3% higher quarter-on-quarter to $176.3 million.
Plus500 highlighted ongoing strategic progress, with growth in its US futures business and the conditional acquisition of Indian financial services firm Mehta Equities, aiming to tap into the world’s largest retail futures trading market.
Non-OTC revenues grew approximately 18% quarter-on-quarter, contributing around 12% to total revenue.
The company’s cash balance remained strong at over $885 million as of 31 March 2025, following $52 million spent on share buybacks during the quarter.
Despite a 16% decline in new customer numbers year-on-year, Plus500 reported a 106% jump in the average deposit per active customer, reaching about $12,450. Customer deposits in the period came in at around $1.6 billion, up from $0.8 billion in Q4 2024.
CEO David Zruia said the company had made a “strong start to the year,” driven by recent macroeconomic and financial market conditions, among other factors.
The company concluded: “The Board anticipates that the FY 2025 results will be ahead of current market expectations.”
