UP Fintech (TIGR) investor relations material

Executive summary

• Achieved record total revenue of $182.3 million in Q2 2026, up 17.7% sequentially and 31.4% year-over-year, with operating profit of $56.8 million, up 19.5% quarter-over-quarter and 12.6% year-over-year.

• Returned to profitability with GAAP net income of $39.4 million and non-GAAP net income of $42.8 million, reversing a net loss in the previous quarter.

• Added 32,600 new funded accounts, up 12.7% quarter-over-quarter, with total funded accounts up 10.3% year-over-year to 1,315,400, driven by strong contributions from Singapore and Hong Kong.

• Total client assets reached $60.7 billion, up 3.1% quarter-over-quarter and 16.7% year-over-year, with growth across all markets.

• Cash and equivalents stood at $544.6 million as of June 30, 2026, down from $793.1 million at year-end 2025.

Financial highlights

• Commission income was $78.3 million, up 21% year-over-year and 17% quarter-over-quarter, driven by higher trading volume.

• Interest income reached $79.8 million, up 36% year-over-year and 24% quarter-over-quarter, reflecting growth in margin financing and securities lending.

• Interest expense was $21.5 million, up 19% quarter-over-quarter and 24% year-over-year.

• Total operating costs were $103.9 million, up 47% year-over-year.

• Marketing expense rose 87% year-over-year to $18.4 million, focusing on user acquisition and brand expansion.

Outlook and guidance

• Q3 to date shows continued growth in client assets, with net asset inflow and mark-to-market gains each contributing over $1 billion.

• Trading volume and commissions in Q3 are slightly below Q2 due to a high base and market pullback.

• New funded accounts in Q3 expected to be flat or higher versus Q2, with higher average net asset inflow per new user.

• Average CAC expected to be in the $450-$550 range for the second half of the year.

• Management highlighted continued international expansion and product innovation, focusing on user-centric trading experiences and further market penetration in Singapore, Hong Kong, Australia, and the U.S.