Customer GrowthFunded customer growth remains strong with 24.3mn customers in August, up ~100k vs. July.
Organic GrowthHOOD generated a very strong organic growth rate of 44% in 1Q24 and 41% in 2Q24 which accelerated from 28% in 2023.
ProfitabilityThe company is on track to achieve positive GAAP profit in FY24F thanks to more active client activities amid the equities and crypto bull run, higher interest rate that brings higher cash return, and proactive cost management.