eToro Reports Second Quarter 2025 Results
Net Contribution grew by 26% year-over-year to $210 millionAssets Under Administration grew by 54% year-over-year to $17.5 billionFunded accounts grew by 14% year-over-year to 3.63 million
NEW YORK, Aug. 12, 2025 (GLOBE NEWSWIRE) -- eToro Group Ltd. ("eToro", or the "Company") (NASDAQ:ETOR), the trading and investing platform, today announced financial results for the second quarter ended June 30, 2025.
"I am proud of the eToro team for delivering another strong quarter, while meaningfully expanding our product innovation and geographical footprint. In the second quarter, we offered 24/5 trading for U.S. equities, introduced new long-term portfolios in partnership with Franklin Templeton, and launched savings products in France, all while strengthening our footprint in Asia through our new Singapore hub. These advancements reflect our commitment to making investing simpler and more accessible for our global community. Looking ahead, we are excited to continue developing technologies like tokenization and AI tools that we believe will transform how retail investors interact with the markets and create new opportunities for growth. As we continue to execute on our strategy, we remain confident in our ability to drive sustainable value for our users and shareholders," commented Yoni Assia, CEO and Co-founder of eToro.
"We are very pleased with our 2025 second quarter results, the first as a public company. Net contribution grew 26% year over year and adjusted EBITDA grew 31% year over year reflecting our focus on profitable revenue growth," said Meron Shani, eToro CFO.
Second Quarter 2025 Financial and Product Highlights1
Net contribution increased by 26% year over year to $210 million, compared to $167 million in the second quarter of 2024, driven primarily by increased trading activity.
Net income (GAAP) was $30.2 million, compared to $30.6 million in the second quarter of 2024, and included $15 million of IPO and other related costs.
Adjusted Net Income (Non-GAAP) was $54.2 million, compared to $44.2 million in the second quarter of 2024.
Adjusted EBITDA (non-GAAP) increased by 31% year over year to $72 million, compared to $55 million in the second quarter of 2024, largely due to increased revenue and disciplined cost management.
Adjusted Diluted EPS (non-GAAP) was $0.56, compared to $0.51 in the second quarter of 2024.
Funded accounts increased 14% year over year to 3.63 million compared to 3.17 million in the second quarter of 2024. This was driven primarily by ongoing user acquisition and retention efforts, as well as the acquisition of Australian investing app Spaceship in 2024.
Assets under Administration grew by 54% year over year to $17.5 billion, compared to $11.3 billion in the second quarter of 2024.
Cash, cash equivalents and short term investments were $1.2 billion as of June 30, 2025.
Launched key products in AI, tokenization, savings and eToro money across our four pillars of Trading, Investing, Wealth Management and Neo-banking.
Business HighlightseToro continued to focus on sustainable, profitable growth in the second quarter, launching products and services to support users at every stage of their investing journey.
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1 See "Non-GAAP Financial Metrics and Key Performance Indicators" below for additional information and a reconciliation to GAAP for all Non-GAAP financial metrics. Adjusted EBITDA margin is based on net contribution.
Trading: eToro strengthened its trading offering with the launch of 24/5 trading for 100 U.S. equities, enabling users to trade around the clock. The Company expanded its U.S. crypto offering to over 100 assets, aligning with its global coverage of over 130. In addition, eToro announced its tokenization strategy and is launching tokenized US listed stocks, laying the groundwork for tokenized stocks with future transfer capabilities. Futures and spot-quoted futures were also made accessible to more investors, providing new opportunities for diversification.
Investing: eToro rolled out a suite of Alpha Portfolios as part of its Smart Portfolio offering. These AI-powered strategies are built using advanced analysis of multiple sources of data including eToro's proprietary retail trading data. In addition, eToro announced a partnership with Franklin Templeton to launch new portfolios offering target date investment strategies. AI innovation continues to play a key role at the Company, highlighted by the introduction of Tori, an AI-powered analyst built on the latest LLM models, which delivers personalized insights, platform guidance, and educational support. The Company has also launched a suite of AI-powered tools and APIs to enable advanced strategy building and customization.
Wealth management: As part of its long-term investment strategy, eToro continued to enhance its wealth solutions, launching French savings products, including retirement (PER) and life insurance, giving users access to long-term, tax-advantaged investing directly on the platform. The Company expanded recurring investments beyond the U.K. and E.U. to the U.A.E., enabling more users to automate contributions into stocks, ETFs, and crypto.
Neo-banking: The Europe-wide rollout of the eToro Money card turned everyday spending into portfolio-building with 4% stock-back rewards, premium travel benefits, and 0% FX fees. The card complements eToro's local IBAN offering, allowing seamless management of spending, deposits, and investments across the platform.
Global expansion: eToro activated its Capital Markets Services license from the Monetary Authority of Singapore (MAS). This reinforces eToro's presence in the Asia-Pacific region, establishing Singapore as its Asian headquarters, supported by local talent, strategic partnerships, and contributions to Singapore's fintech ecosystem.
Conference Call and Livestream InformationeToro will host a video call to discuss its results at 5:30 a.m PT / 8:30 a.m ET today, August 12, 2025. The video call can be accessed at investors.etoro.com, along with this earnings press release and accompanying slide presentation. The event will also be live streamed to eToro's YouTube and X.com official channels.
ContactMedia Relations - Relations -
About eToroeToro is the trading and investing platform that empowers you to invest, share and learn. We were founded in 2007 with the vision of a world where everyone can trade and invest in a simple and transparent way. Today we have 40 million registered users from 75 countries. We believe there is power in shared knowledge and that we can become more successful by investing together. So we've created a collaborative investment community designed to provide you with the tools you need to grow your knowledge and wealth. On eToro, you can hold a range of traditional and innovative assets and choose how you invest: trade directly, invest in a portfolio, or copy other investors. You can visit our media center here for our latest news.
ETORO GROUP LTD.
CONDENSED CONSOLIDATED BALANCE SHEETS
U.S. dollars in thousands
June 30
December 31
2025
2024
Unaudited
Unaudited
Assets
Current assets:
Cash and cash equivalents
987,860
575,395
Restricted cash
330
314
Short-term investment
200,000
65,000
Counterparties
271,179
224,867
Cryptoassets
102,074
113,279
Receivable from omnibus accounts
10,047
50,466
Other receivables and prepaid expenses
62,518
46,005
1,634,008
1,075,326
Non-current assets:
Restricted cash
11,485
11,630
Right of use assets
41,885
44,406
Property and equipment, net
5,147
5,007
Goodwill and other intangible assets, net
45,053
46,346
Deferred taxes
12,296
8,647
115,866
116,036
Total Assets
1,749,874
1,191,362
Liabilities and equities
Current liabilities:
Accounts payable
3,574
4,201
Current maturities of long-term lease liabilities
5,682
4,758
Payable to users
145,458
103,493
Accrued expenses and other payables
212,223
193,115
366,937
305,567
Non-current liabilities:
Employee benefit liabilities, net
1,367
1,253
Other long-term liabilities
14,967
5,653
Long-term lease liabilities
45,566
43,546
Deferred taxes liabilities
2,356
2,968
64,256
53,420
Equity attributable to equity holders of the company:
Common share premium
1,260,068
474,469
Preferred share premium
–
397,019
Treasury shares
–
(2,625
)
Advanced Investment Agreement
9,091
9,091
Other capital reserve
6,832
1,868
Retained Earnings (Accumulated deficit)
42,690
(47,447
)
1,318,681
832,375
Total liabilities and equity
1,749,874
1,191,362
ETORO GROUP LTD.
CONDENSED CONSOLIDATED STATEMENTS OF PROFIT OR LOSS
AND OTHER COMPREHENSIVE INCOME (LOSS)
U.S. dollars in thousands
Three months ended
Six months ended
June 30
June 30
2025
2024
2025
2024
Unaudited
Unaudited
Unaudited
Unaudited
Revenue and income:
Net trading income from equities, commodities and currencies
114,042
83,234
210,879
156,332
Revenue from cryptoassets
1,914,792
1,640,154
5,415,592
4,933,274
Net trading income (loss) from cryptoassets derivatives
(8,407
)
53,614
68,644
(3,153
)
Net interest income from users
43,874
50,214
96,492
99,532
Currency conversion and other income
22,503
17,695
46,414
39,098
Other interest income
7,431
3,939
11,595
7,287
Total revenue and income
2,094,235
1,848,850
5,849,616
5,232,370
Costs:
Cost of revenue from cryptoassets
1,877,089
1,672,726
5,405,942
4,846,492
Margin interest expense
7,517
9,366
16,676
18,016
Research and development
38,853
34,771
75,474
67,937
Selling and marketing
52,578
39,863
113,800
77,205
General, administrative and operating costs
76,270
55,622
125,772
111,664
Finance and other expenses, net
6,309
262
5,792
1,190
Total costs
2,058,616
1,812,610
5,743,456
5,122,504
Income before taxes on income
35,619
36,240
106,160
109,866
Taxes on income
5,434
5,653
16,023
15,169
Net income
30,185
30,587
90,137
94,697
Other comprehensive income, net:
Items that may be reclassified subsequently to profit or loss:
Cash flow hedges, net of tax
7,193
–
4,964
–
Other comprehensive income for the year, net of tax
7,193
–
