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Futu (FUTU) investor relations material
Futu Q2 2025 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.
Executive summary
Funded accounts grew 40.9% year-over-year to 2.88 million, with over half now international; total client assets reached HK$973.9 billion, up 68.1% year-over-year and 17.4% quarter-over-quarter.
Trading volume surged 121.2% year-over-year to HK$3.59 trillion, led by U.S. equities and crypto.
Wealth management client assets rose 104.4% year-over-year to HK$163.2 billion.
Client retention rate remained above 98%.
Notable international expansion and product launches, including crypto trading in the U.S., new offerings in Malaysia and Japan, and the launch of Moomoo AI.
Financial highlights
Total revenues increased 69.7% year-over-year to HK$5,310.9 million (US$676.6 million).
Gross profit rose 81.6% year-over-year to HK$4,639.9 million (US$591.1 million), with gross margin at 87.4%.
Net income jumped 112.7% year-over-year to HK$2,572.6 million (US$327.7 million), net income margin at 48.4%.
Non-GAAP adjusted net income increased 105.2% year-over-year to HK$2,659.8 million (US$338.8 million).
Basic net income per ADS was HK$18.48 (US$2.35), up from HK$8.79 a year ago.
Outlook and guidance
Confident in achieving the full-year target of 800,000 new funded accounts, with over 50% already achieved in the first half.
Expect steady quarter-over-quarter growth in new funded accounts, client AUM, and trading volume in Q3, assuming market sentiment persists.
Continued focus on international expansion, product diversification, and technology investment, including new structured products, tokenized funds, and AI capabilities.
Management highlighted robust net asset inflow and strong client retention above 98%.
Cautious optimism amid market volatility and ongoing investment in technology.
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