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crypto.news 2025-06-11 07:15:27

eToro reports $60M in Q1 net income as trading activity and user base grows

Online trading platform eToro reported solid financial results for the first quarter of 2025, reflecting strong user engagement and increased trading activity. The earnings report, which was published on June 10th, shows that the company’s core business areas, from investing to wealth management and cryptocurrency offerings, have seen significant growth. Net contribution, or revenue after direct costs, increased 8% year-over-year to $217 million, driven by increased user activity across global markets. Net income under generally accepted accounting principles, which measures overall profitability after operating expenses and taxes, was $60 million. The company also posted $80 million in adjusted EBITDA, a metric that reflects operational earnings by excluding non-cash items and one-off expenses like marketing campaigns or acquisitions. Thanks to ongoing efforts to increase user acquisition and retention, funded accounts increased 14% from the previous year to 3.58 million. Assets under administration increased by 21% to $14.8 billion compared to Q1 2024. eToro ended the quarter with $736 million in cash, cash equivalents, and short-term investments. Read more: eToro CEO: We bought Bitcoin at $5 and made a $50m profit eToro also expanded its product lineup. In Q1, the company added 40 new crypto assets to the platform, extended trading hours for a few stocks and exchange-traded funds, and launched futures in Europe and options in the UK. On the investing side, it added stocks from the Abu Dhabi and Hong Kong exchanges, expanded its Smart Portfolio offerings, and introduced recurring investments across stocks, ETFs, and crypto. In wealth management, eToro integrated Australian fintech Spaceship and added new features to its UK ISA product. The company also grew its neo-banking business, enabling crypto-to-fiat transfers and launching virtual local bank accounts in several areas, eToro’s chief executive officer Yoni Assia described the quarter as a sign of eToro’s long-term strength, noting that the retail investor “is informed and connected.” As of the end of May, eToro continues to grow, with assets topping $16.9 billion and funded accounts reaching 3.61 million. The strong Q1 performance comes just before eToro’s initial public offering in May, which raised $620 million and valued the company at over $5.6 billion. Read more: Crypto freedom on the chopping block? eToro’s SEC deal raises alarms

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