The earnings call highlighted strong growth in trading volumes and revenue, driven by an expanded client base and increased market activities. Despite increased operating costs and a decrease in cash equity take rates, the company achieved record revenues and significant net income growth. Expansion in new markets and robust performance in wealth management further underscore the positive momentum.

Company Guidance

During the UP Fintech Holding Limited's third quarter 2024 earnings call, the company reported significant growth across various metrics. Total trading volume reached USD 163 billion, with cash equity trading volume at USD 41.4 billion, marking a quarter-over-quarter increase of 54% and 24%, respectively. Commission income rose to USD 41.2 million, up 21% quarter-over-quarter and 78% year-over-year. Market financing and securities lending business saw a 29% quarter-over-quarter and a 100% year-over-year increase, reaching USD 4.5 billion. Total revenue hit a record high of USD 101 million, a 16% rise quarter-over-quarter and a 44% increase year-over-year. GAAP net income was USD 13.8 million, with non-GAAP net income at USD 20.1 million, reflecting year-over-year increases of 34% and 26%, respectively. The company added 50,500 newly funded accounts, achieving its annual guidance of 150,000 new accounts, with total client assets rising by 7% quarter-over-quarter and 116% year-over-year to USD 40.8 billion. The operating profit margin improved to 26%, indicating enhanced operational efficiency.

Record-Breaking Trading Volume and Revenue

Total trading volume reached USD 163 billion. Total revenue for Q3 was an all-time high of USD 101 million, a quarter-over-quarter increase of 16% and a year-over-year increase of 44%.

Significant Increase in Commission and Interest Income

Commission income reached USD 41.2 million, up 21% quarter-over-quarter and 78% year-over-year. Interest income rose 9% quarter-over-quarter to USD 48 million.

Strong Net Income Growth

GAAP and non-GAAP net income attributable to UP Fintech was USD 13.8 million and USD 20.1 million, increasing 34% and 26% year-over-year, respectively.

Growth in Client Assets and Accounts

Total client assets increased 7% quarter-over-quarter and 116% year-over-year to USD 40.8 billion. The number of funded accounts increased by 19% year-over-year.

Expansion in Hong Kong and Southeast Asia

Over 25% quarter-over-quarter increase in client assets from new markets like Hong Kong, Australia, New Zealand, and the U.S. Hong Kong trading volume for October exceeded the total trading volume of the third quarter.

Wealth Management Growth

Wealth management AUM increased by over 40% quarter-over-quarter and doubled year-over-year, exceeding USD 1 billion.

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Up Fintech Holding (TIGR) Earnings, Revenues Date & History

The upcoming earnings date is based on a company’s previous reporting, and may be updated when the actual date is announced

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TIGR Earnings History

Report Date	Fiscal Quarter	Forecast / EPS	Last Year's EPS	EPS YoY Change	Slides	Play Transcript
May 17, 2019	2019 (Q1)	- / -0.06	-0.018	-233.33% (-0.04)	―	―
Aug 23, 2019	2019 (Q2)	- / -0.01	-0.269	94.80% (+0.26)	―	―
Nov 25, 2019	2019 (Q3)	- / >-0.01	-0.026	65.38% (+0.02)	―	―
Mar 25, 2020	2019 (Q4)	- / >-0.01	-0.016	75.00% (+0.01)	―	―
May 28, 2020	2020 (Q1)	- / 0.02	-0.06	135.00% (+0.08)	―	―
Aug 18, 2020	2020 (Q2)	- / <0.01	-0.014	157.14% (+0.02)	―	―
Nov 25, 2020	2020 (Q3)	- / 0.03	-0.009	400.00% (+0.04)	―	―
Mar 26, 2021	2020 (Q4)	- / 0.06	-0.004	1600.00% (+0.06)	―	―
May 25, 2021	2021 (Q1)	- / 0.14	0.021	580.95% (+0.12)	―	―
Sep 10, 2021	2021 (Q2)	0.09 / -0.15	0.008	-1962.50% (-0.16)	―	―

The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.

Beat

Missed

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TIGR Earnings-Related Price Changes

Report Date	Price 1 Day Before	Price 1 Day After	Percentage Change
Nov 12, 2024	$6.54	$5.88	-10.09%
Aug 30, 2024	$3.89	$3.64	-6.43%
Jun 05, 2024	$4.05	$4.22	+4.20%
Mar 20, 2024	$4.47	$4.06	-9.17%

Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.

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