flatexDEGIRO (FTK) Q2 2026 earnings summary

Executive summary

• Achieved record net income of €61 million in Q2 2026, up 55% year-over-year, and €115 million for H1 2026, surpassing full-year 2024 net income after just six months, driven by strong revenue growth, robust trading activity, and disciplined cost management.

• Revenue increased by 26% year-over-year to €167 million in Q2 2026, supported by higher commission and interest income, customer base expansion, and increased average commissions per transaction.

• Customer assets under custody surpassed €100 billion for the first time, totaling €108.3 billion at the end of June 2026, with over €5 billion of fresh money added in the last six months.

• Settled transactions rose 22% year-over-year to 21.9 million in Q2, reflecting strong client activity and robust trading volumes.

• Operating expenses declined or remained tightly controlled, with personnel expenses down 21% year-over-year, supporting significant operating leverage and profitability.

Financial highlights

• Q2 2026 revenues: €166.5m (+26% YoY); H1 2026 revenues: €340.1m (+22.2% YoY).

• Q2 2026 net income: €61.3m (+55.1% YoY); H1 2026 net income: €115.0m (+41.1% YoY).

• Net commission income Q2 2026: €90.1m (+30.8% YoY); net interest income Q2 2026: €50.5m (+20.7% YoY); commission income for Q2: €107m (+29% YoY); interest income for Q2: €53m (+23% YoY).

• Gross profit Q2 2026: €144.7m (+26.7% YoY); H1 2026: €294.6m (+23.3% YoY).

• Net cash inflows were €2.0 billion in Q2 and over €5 billion for H1 2026, with a 100% reinvestment rate.

Outlook and guidance

• Full-year 2026 revenue guidance raised to approximately €650 million (+16% YoY), with net income expected between €200–230 million (+25–43% YoY), potentially achieving 2027 targets a year early.

• Guidance reflects potential market volatility; lower end achievable even with a slowdown in trading activity.

• Continued focus on cost discipline and scalable growth, with no major surprises expected in OpEx.

• New mid-term guidance to be issued in February 2027 reflecting continued growth.