Plus500 revenue grows 68% in Q1 2022 to $270.9 million

Plus500 has published its financial metrics for the first quarter of 2022. The retail broker saw quarterly revenue of $270.9 million in the first three months of the year. The numbers were 68% higher than the previous quarter and 33% more than the same period during the previous year.

The Israeli broker reported EBITDA for the period between January and March at $161.6 million. This represents 33% increase compared to the previous year and a 128% jump compared to Q4 of 2021.

EBITDA margin reached 60% compared to the previous quarter’s 44%.

CEO of Plus500, David Zruia said

Plus500 has produced excellent results for Q1 2022, continuing our significant operational and financial momentum over recent years, and validating our clear strategic roadmap.

plus500 revenue

Customer growth and expansion

During the first three months of the year, the London-listed broker onboarded 33,740 new customers. This is marginally higher than the previous quarter, when the number of customers fell but 62% lower than the Q1 2021. Plus500 also reported 176,642 active traders on its platform.

The average revenue per user increased 64% Q-o-Q to $1,534.00. This was also 104% up from the same quarter of the previous year. The average acquisition cost in Q1 2022 was $1,416.00, 6% down from Q4 2021 but with a 199% rise compared to Q1 of 2021.

Client deposits on the trading platform reached $0.6 billion during the last three months compared to $0.5 billion in the last quarter of 2021.

The forex and CFDs trading provider has also been focusing on expansion of its global reach. Earlier in February, Plus500 secured a regulatory license in Estonia and in March the broker entered Japanese retail trading market with the acquisition of EZ Invest.

Zruia commented:

David Zruia, Plus500

David Zruia
Source: LinkedIn

Our ongoing investments in developing our position as a global multi-asset fintech group will enable future growth. In particular, we continue to make organic investments in technology, marketing and our people, as well as actively targeting additional acquisitions and initiating potential strategic partnerships.

The company also talked about its outlook:

At the current time, the Board anticipates that revenue for FY 2022 will be ahead of current market expectations and continues to expect that Plus500 will deliver sustainable growth from all of the Group’s product offerings over the medium to long term.

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