← UP Fintech Holding Ltd
| Annual Trend | FY 2017 | FY 2018 | FY 2019 | FY 2020 | FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 | TTM | |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Total Revenue | $16.9m |
$33.6m
+98.01%
|
$58.7m
+74.80%
|
$138.5m
+136.09%
|
$264.5m
+90.97%
|
$225.4m
-14.79%
|
$272.5m
+20.92%
|
$391.5m
+43.68%
|
$612.1m
+56.32%
|
$644.3m
+5.27%
|
|
| Total net revenues | $16.9m | $33.6m | $54.6m | $128.4m | $246.1m | $206.7m | $225.5m | $330.7m | $538.7m | — | |
| Cost Of Revenue | $20.6m |
$40.7m
+97.20%
|
$67.1m
+64.89%
|
$151.2m
+125.57%
|
$289.9m
+91.68%
|
$117.4m
-59.52%
|
$109.8m
-6.41%
|
$137.0m
+24.75%
|
$187.7m
+37.00%
|
$200.4m
+6.78%
|
|
| Reconciled Cost Of Revenue | — | — | — | — | — | $123.6m |
$116.4m
-5.86%
|
$142.9m
+22.82%
|
$195.3m
+36.63%
|
$200.4m
+2.62%
|
|
| Gross Profit (derived) | ($3.7m) |
($7.1m)
-93.51%
|
($8.4m)
-18.07%
|
($12.8m)
-51.99%
|
($25.4m)
-99.38%
|
$108.0m
+524.81%
|
$162.7m
+50.61%
|
$254.5m
+56.46%
|
$424.4m
+66.73%
|
$443.9m
+4.61%
|
|
| Net Interest Income | — | — | — | — | — | ($18.7m) |
($47.0m)
-151.53%
|
($60.8m)
-29.49%
|
($73.4m)
-20.64%
|
($76.5m)
-4.23%
|
|
| Research and Development Expense | — | $11.3m | $18.0m | $22.5m | $47.8m | $60.1m | $63.5m | $80.1m | $100.0m | — | |
| Selling and Marketing Expense | — | $10.5m | $7.1m | $15.9m | $59.3m | $33.1m | $20.9m | $28.5m | $49.5m | $141.0m | |
| General and administrative | ($3.6m) | ($7.8m) | ($9.3m) | ($13.7m) | ($22.7m) | ($18.3m) | ($21.8m) | ($39.3m) | ($36.2m) | $88.4m | |
| Amortization of Intangible Assets | — | — | — | — | — | — | $15k | $15k | $15k | — | |
| Operating Lease, Expense | — | — | — | $3.5m | $4.1m | $6.0m | $6.3m | $5.7m | $7.1m | — | |
| Operating expenses: | |||||||||||
| EBIT | $20.7m | $93.0m | $142.6m | $280.8m | $228.2m | ||||||
| Interest Expense | — | — | $4.1m | $10.1m | $18.4m | $18.7m | $47.0m | $60.8m | $73.4m | $76.5m | |
| Net Non Operating Interest Income Expense | — | — | — | — | — | ($18.7m) | ($47.0m) | ($60.8m) | ($73.4m) | ($76.5m) | |
| Foreign Currency Transaction Gain (Loss), before Tax | — | $542k | $284k | ($2.9m) | ($3.3m) | $2.4m | ($3.1m) | $4.1m | $7.8m | — | |
| Other Nonoperating Income (Expense) | ($96k) | $725k | $869k | $997k | ($2.7m) | $298k | $13.1m | $3.3m | ($939k) | — | |
| Other Income Expense | ($96k) | $725k | $869k | $997k | ($2.7m) | $298k | $13.1m | $3.3m | ($939k) | ($63.7m) | |
| Income (Loss) from Continuing Operations before Income Taxes, Domestic | — | — | — | $20.6m | $21.3m | $9.1m | $12.6m | $35.0m | $22.0m | $151.8m | |
| Pre-Tax Income | ($9.1m) | ($46.2m) | ($9.3m) | $22.0m | $19.1m | $2.0m | $46.0m | $81.8m | $207.4m | $151.8m | |
| Income (Loss) from Continuing Operations before Income Taxes, Noncontrolling Interest | ($9.1m) | ($46.2m) | ($9.3m) | $22.0m | $19.1m | $2.0m | $46.0m | $81.8m | $207.4m | $151.8m | |
| Current Income Tax Expense (Benefit) | — | $2k | $2.9m | $1.1m | $5.0m | ($5.6m) | ($9.8m) | $19.6m | $37.6m | $37.6m | |
| Income tax expense | $1.2m | $1.9m | $3.4m | ($2.9m) | ($4.4m) | ($4.3m) | ($13.0m) | ($20.4m) | ($36.0m) | $37.6m | |
| Net Income From Continuing And Discontinued Operation | ($7.9m) | ($43.2m) | ($6.6m) | $16.1m | $14.7m | ($2.2m) | $32.6m | $60.7m | $170.9m | $113.6m | |
| Net Income Continuous Operations | — | — | — | — | — | ($2.3m) | $33.0m | $61.4m | $171.5m | $114.2m | |
| Net Income (Loss) Attributable to Noncontrolling Interest | ($417k) | ($1.1m) | — | $0 | — | ($129k) | ($98k) | ($4k) | $49k | $113.6m | |
| Earnings Per Share, Basic | — | ($0.09) | $0.00 | $0.01 | $0.01 | $0.00 | $0.01 | $0.03 | $0.06 | $0.63 | |
| Earnings Per Share, Diluted | ($0.02) | ($0.09) | $0.00 | $0.01 | $0.01 | $0.00 | $0.01 | $0.02 | $0.06 | $0.62 | |
| Weighted Average Number of Shares Outstanding, Basic | — | 506.4m | 1.8b | 2.1b | 2.2b | 2.3b | 2.3b | 2.4b | 2.7b | 177.4m | |
| Basic Average Shares | — | — | — | — | — | $153.0m | $155.0m | $160.3m | $176.8m | $177.4m | |
| Diluted Average Shares | — | — | — | — | — | $153.0m | $161.8m | $168.9m | $187.2m | $185.6m | |
| Weighted Average Number of Shares Outstanding, Diluted | — | 506.4m | 1.8b | 2.2b | 2.3b | 2.3b | 2.4b | 2.5b | 2.8b | 185.6m | |
| Additional Financial Items | |||||||||||
| Equity Securities without Readily Determinable Fair Value, Impairment Loss, Annual Amount | — | $0 | $756k | $0 | $600k | $0 | $0 | $0 | $200k | — | |
| Goodwill, Impairment Loss | — | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | — | |
| Execution and clearing | ($38k) | ($257k) | ($2.5m) | ($12.6m) | ($31.1m) | ($15.6m) | ($9.1m) | ($14.7m) | ($20.5m) | — | |
| Employee compensation and benefits (including share-based compensation of US$10,147,362, US$9,736,901 and US$15,609,141 for the years ended December 31, 2023, 2024 and 2025, respectively) | ($12.0m) | ($55.7m) | ($35.8m) | ($50.0m) | ($87.2m) | ($101.7m) | ($100.8m) | ($122.4m) | ($167.2m) | — | |
| Occupancy, depreciation and amortization | ($1.2m) | ($2.6m) | ($3.6m) | ($4.7m) | ($6.1m) | ($9.0m) | ($9.4m) | ($8.6m) | ($10.5m) | — | |
| Communication and market data | ($2.9m) | ($3.6m) | ($6.5m) | ($10.3m) | ($22.1m) | ($27.1m) | ($30.8m) | ($38.9m) | ($46.5m) | — | |
| Marketing and branding | ($6.3m) | ($10.5m) | ($7.1m) | ($15.9m) | ($59.3m) | ($33.1m) | ($20.9m) | ($28.5m) | ($49.5m) | — | |
| Others, net | ($96k) | $725k | $869k | $997k | ($2.7m) | $298k | $13.1m | $3.3m | ($939k) | — | |
| Net (loss) income attributable to non-controlling interests | ($417k) | ($1.1m) | — | $0 | — | ($129k) | ($98k) | ($4k) | $49k | — | |
| Accretion of Redeemable Non-controlling Interests to Redemption Value | — | — | — | — | — | ($59k) | ($542k) | ($630k) | ($533k) | — | |
| Unrealized (loss) gain on available-for-sale securities (net of tax effect of nil, nil and nil for the years ended December 31, 2023, 2024 and 2025, respectively) | $0 | $263k | $0 | $41k | $1.9m | ($769k) | ($450k) | $344k | $2.2m | — | |
| Change in cumulative foreign currency translation adjustment | $1.6m | ($936k) | ($321k) | $3.8m | $1.8m | ($8.1m) | ($545k) | ($9.0m) | $19.2m | — | |
| Average Dilution Earnings | — | — | — | — | — | $0 | $912k | $1.1m | $2.7m | $2.7m | |
| Depreciation Amortization Depletion Income Statement | — | — | — | — | — | $9.0m | $9.4m | $8.6m | $10.5m | $11.0m | |
| Depreciation And Amortization In Income Statement | — | — | — | — | — | $9.0m | $9.4m | $8.6m | $10.5m | $11.0m | |
| Diluted EPS | — | — | — | — | — | ($0.01) | $0.21 | $0.36 | $0.93 | $0.62 | |
| Diluted NI Availto Com Stockholders | — | — | — | — | — | ($2.2m) | $33.5m | $61.9m | $173.6m | $113.6m | |
| Minority Interests | — | — | — | — | — | $70k | ($444k) | ($626k) | ($582k) | ($535k) | |
| Normalized EBITDA | — | — | — | — | — | $29.7m | $102.3m | $151.1m | $291.3m | $239.2m | |
| Normalized Income | ($7.9m) | ($43.2m) | ($6.6m) | $16.1m | $14.7m | ($2.2m) | $32.6m | $60.7m | $170.9m | $113.6m | |
| Other Gand A | — | — | — | — | — | $45.5m | $52.6m | $78.2m | $82.7m | — | |
| Reconciled Depreciation | — | — | — | — | — | $2.7m | $2.8m | $2.6m | $2.9m | $11.0m | |
| Rent And Landing Fees | — | — | — | — | $6.1m | $9.0m | $9.4m | — | — | — | |
| Salaries And Wages | — | — | — | — | $13.4m | $14.2m | — | — | — | — | |
| Selling General And Administration | — | — | — | — | — | $78.6m | $73.5m | $106.7m | $132.1m | — | |
| Tax Effect Of Unusual Items | — | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | |
| Tax Provision | — | — | — | — | — | $4.3m | $13.0m | $20.4m | $36.0m | $37.6m | |
| Tax Rate For Calcs | — | — | — | — | — | $0 | $0 | $0 | $0 | $0 | |
| Costs and Expenses | — | $80.5m | $64.7m | $107.4m | $228.5m | $205.0m | $192.7m | $252.3m | $330.3m | — | |
| Operating Expense | — | — | — | — | — | $87.6m | $82.9m | $115.3m | $142.6m | $152.0m | |
| Rent Expense Supplemental | — | — | — | — | $6.1m | $9.0m | $9.4m | — | — | — | |
| Total Comprehensive income | ($6.3m) | ($45.0m) | ($6.3m) | $23.0m | $18.4m | ($11.2m) | $32.0m | $52.7m | $192.8m | — | |
| Total Comprehensive (loss) income attributable to non-controlling interests | — | ($1.1m) | — | $0 | — | ($131k) | ($93k) | $3k | $37k | — | |
| Total Comprehensive income attributable to ordinary shareholders of UP Fintech | — | ($43.9m) | ($6.9m) | $19.9m | $18.4m | ($11.1m) | $31.6m | $52.0m | $192.3m | — | |
| Total operating cost and expenses | ($26.0m) | ($80.5m) | ($64.7m) | ($107.4m) | ($228.5m) | ($205.0m) | ($192.7m) | ($252.3m) | ($330.3m) | — | |
| Total Expenses | — | $80.5m | $64.7m | $107.4m | $228.5m | $205.0m | $192.7m | $252.3m | $330.3m | $352.4m |