TIGR Delivers Record Revenue and Net Income Growth as Customer Base and Assets Surge in 2025
Financial Results Hit All-Time Highs with Revenue Up 56% and Net Income Soaring 181%
UP Fintech Holding Limited (NASDAQ:TIGR) capped off 2025 with its strongest financial performance to date, reporting a 56.3% surge in total revenue to $612.1 million and an 181.4% leap in net income to $170.9 million compared to 2024. This momentum was maintained in the fourth quarter as well, with Q4 revenues up 41.5% year-over-year and net income growing over 61% from the prior year’s quarter.
Customer Assets and Accounts Grow Sharply Across All Markets
TIGR’s customer base expansion was equally notable. The number of customers with deposit accounts climbed 14.8% to 1,253,900 by year-end, outpacing annual targets. Total account balances rose 45.7% to $60.8 billion, aided by robust net asset inflows of over $10 billion during the year. Notably, client assets in Singapore increased by over 50%, while those in Australia more than doubled, and Hong Kong tripled year-over-year, reflecting strong penetration in key global markets.
Operating Performance Shows Broad-Based Strength
| Key Metric | 2024 | 2025 | % Change |
|---|---|---|---|
| Total Revenue (US$ million) | 391.54 | 612.06 | +56.3% |
| Net Income (US$ million) | 60.73 | 170.90 | +181.4% |
| Non-GAAP Net Income (US$ million) | 70.46 | 186.51 | +164.7% |
| Account Balance (US$ billion) | 41.73 | 60.81 | +45.7% |
| Customers with Deposits (thousands) | 1,092.0 | 1,253.9 | +14.8% |
| Options & Futures Contracts Traded (thousands, Q4) | 18,926.3 | 26,751.6 | +41.4% |
| Trading Volume (US$ million, Q4) | 198,017 | 316,599 | +59.9% |
International Expansion and Product Innovation Drive Growth
The company’s internationalization strategy paid off with strong client growth outside China. Product innovation—such as upgrades to options combo trading for more sophisticated client strategies and new margin accounts in Australia—helped enhance customer experience and attraction. Corporate services also expanded, with 47 IPOs underwritten and ESOP solutions delivered to 748 clients in 2025.
Profitability Accelerates Despite Higher Investment in Growth
Alongside topline and bottom line gains, expenses rose, reflecting investments in global headcount, expanded market presence, and technology. Operating costs grew 30.9% for the year, but revenue growth outpaced expenses, boosting operating leverage. By year-end, TIGR’s cash and cash equivalents totaled $793.1 million, dramatically up from $396.0 million a year earlier—providing a solid foundation for continued expansion.
What to Watch: Customer Quality and Asset Inflows Remain Priorities for 2026
TIGR’s 2025 performance signals a company firing on all cylinders, with substantial improvements in revenue, profitability, and scale. Looking ahead, TIGR aims to add 150,000 new funded customers in 2026, with a focus on high-value users—a move that could further bolster profitability and asset growth. Investors may also look for updates from the company’s conference call or at https://ir.itigerup.com.
Key Figures at a Glance
| Fourth Quarter 2025 | Year-Over-Year Change |
|---|---|
| Total Revenue | +41.5% |
| Total Net Revenue | +45.8% |
| Net Income (GAAP) | +61.3% |
| Non-GAAP Net Income | +60.5% |
| Trading Volume | +59.9% |
| Clients with Deposits | +14.8% |
In summary, TIGR notched record achievements in 2025 on virtually every operational and financial front, driven by cross-market expansion, product launches, and increasing customer engagement. The focus for 2026 will be on maintaining growth momentum while attracting higher-value clients and deepening international presence.
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