IG Group (IGG) Q1 2026 TU earnings summary

Executive summary

• Organic growth in active customers and strong customer income retention achieved despite challenging market conditions and a tough prior year comparison.

• Freetrade delivered excellent performance, contributing to growth in stock trading and investments.

• Strategic initiatives improved marketing effectiveness and broadened customer appeal, leading to a 42% year-over-year increase in first trades.

Financial highlights

• Net trading revenue (organic) was £231.9m, down 4% year-over-year and 8% sequentially; total revenue (organic) was £259.9m, down 7% year-over-year and 7% sequentially.

• Net interest income (organic) declined 24% year-over-year to £28.0m, reflecting lower rates and higher pass-through to customers.

• Customer cash balances rose to £4.7bn at quarter-end, up from £4.4bn at the end of May 2025.

• tastytrade net trading revenue increased 16% year-over-year to $54.7m, and 5% sequentially.

Outlook and guidance

• Full-year guidance for FY26 confirmed, with performance expected in line with market expectations for total revenue and cash EPS.

• Net interest income for FY26 is expected to be approximately £100m.