Online trading and investing platform eToro reported its second-quarter results before the open on Tuesday, showing growth in funded accounts, assets under administration (AUA) and revenue compared with the same period last year.
eToro Q2 Earnings: Funded Accounts and AUM Rise YoY
Net contribution rose 26% year-on-year to $210 million, driven by higher trading activity.
Assets under administration increased 54% to $17.5 billion, while funded accounts climbed 14% to 3.63 million, boosted by continued user acquisition, retention efforts, and the 2024 purchase of Australian app Spaceship.
Adjusted EBITDA was up 31% to $72 million, supported by increased revenue and disciplined cost control.
Adjusted net income rose to $54.2 million from $44.2 million a year earlier, while GAAP net income slipped slightly to $30.2 million, reflecting $15 million in IPO-related costs.
Chief executive Yoni Assia said the quarter’s performance came alongside notable product developments, including 24/5 trading for U.S. equities, new long-term portfolios with Franklin Templeton, and savings products in France.
The company also expanded its footprint in Asia via a new Singapore hub.
CFO Meron Shani highlighted the company’s focus on profitable growth in the company’s first earnings release as a public company.
eToro said it remains committed to innovations in tokenisation and AI-powered tools to enhance retail investor engagement, while continuing to expand across its four pillars of trading, investing, wealth management and neo-banking.
