UP Fintech Holding Ltd (TIGR): Financial results for Q2 2026
UP Fintech Holding Ltd (TIGR) furnished an SEC Form 6-K — earnings release. EXHIBIT 99.1 UP Fintech Holding Limited Reports Unaudited Second Quarter 2026 Financial Results Singapore, August 26, 2026 – UP Fintech Holding Limited (NASDAQ: TIGR) (“UP Fintech” or the “Company”), a leading online brokerage firm focusing on global investors, today announced it
How this was made
The 30-second read
Why it matters
The earnings beat and profit swing are likely to trigger buying interest, while the disclosed $5 M share repurchase adds further support.
Market read
First‑report earnings with solid growth and profitability reversal make this a high‑impact news item for traders.
What to watch
Rising operating costs (46% YoY) and higher interest expense could pressure margins if client inflows slow.
UP Fintech reported all-time-high total revenues of US$182.3 million, up 31.4% year-over-year and 17.7% quarter-over-quarter, while GAAP net income attributable to ordinary shareholders was US$39.4 million.
Revenue, net revenue, income from operations, funded customers, client assets and margin financing and securities lending balances increased, and the company returned to GAAP and non-GAAP profitability from losses in the prior quarter. Year-over-year net income and non-GAAP net income were below the prior-year quarter, while operating costs and expenses increased 46.5% year-over-year.
Key metrics
as reported| Metric | Value | q/q | y/y |
|---|---|---|---|
| Total revenuesGAAP | US$182.3 million | 17.7% | 31.4% |
| Total net revenuesGAAP | US$160.7 million | 17.6% | 32.4% |
| CommissionsGAAP | US$78.3 million | – | 20.9% |
| Financing service feesGAAP | US$3.2 million | – | 16.7% |
| Interest incomeGAAP | US$79.8 million | – | 36.0% |
| Other revenuesGAAP | US$21.0 million | – | 67.6% |
| Interest expenseGAAP | US$21.5 million | – | 24.1% |
| Execution and clearing expensesGAAP | US$6.8 million | – | 25.3% |
| Employee compensation and benefits expensesGAAP | US$50.0 million | – | 39.4% |
| Occupancy, depreciation and amortization expensesGAAP | US$2.8 million | – | 2.5% |
| Communication and market data expensesGAAP | US$16.2 million | – | 56.4% |
| Marketing and branding expensesGAAP | US$18.4 million | – | 86.6% |
| General and administrative expensesGAAP | US$9.8 million | – | 44.6% |
| Total operating costs and expensesGAAP | US$103.9 million | – | 46.5% |
| Income from operationsGAAP | US$56.8 million | 19.5% | 12.6% |
| Income before income taxGAAP | US$54,566,611 | – | – |
| Income tax expensesGAAP | US$15,061,797 | – | – |
| Net incomeGAAP | US$39,504,814 | – | – |
| Net income attributable to ordinary shareholders of UP FintechGAAP | US$39.4 million | – | – |
| Net income per ADS - dilutedGAAP | US$0.21 | – | – |
| Non-GAAP net income attributable to ordinary shareholders of UP Fintechnon-GAAP | US$42.8 million | – | – |
| Non-GAAP net income per ADS - dilutednon-GAAP | US$0.23 | – | – |
| Weighted average number of ADSs used in calculating non-GAAP net income per ADS - dilutednon-GAAP | 185,044,751 | – | – |
| Total account balanceother | US$60.7 billion | 3.1% | 16.7% |
| Total margin financing and securities lending balanceother | US$7.4 billion | – | 28.9% |
| Number of customer accountsother | 2,740.4 | – | – |
| Number of customers with depositsother | 1,315.4 thousand | – | 10.3% |
| Number of options and futures contracts tradedother | 26,304.0 | – | – |
| Trading volumeother | US$345,271.9 million | – | – |
| Trading volume of stocksother | US$154,491.8 million | – | – |
Segments
| Segment | Revenue | q/q | y/y |
|---|---|---|---|
| CommissionsIncrease in trading volume. | US$78.3 million | – | 20.9% |
| Financing service feesIncrease in margin financing activities of fully disclosed account customers. | US$3.2 million | – | 16.7% |
| Interest incomeIncrease in margin financing and securities lending activities of consolidated account customers. | US$79.8 million | – | 36.0% |
| Other revenuesIncrease of wealth management service revenue and exchange revenue. | US$21.0 million | – | 67.6% |
Capital returns
- To date, the Company has repurchased approximately US$5 million worth of ADSs.
- Buybacks fall under the 12-month share repurchase plan announced on June 2, 2026.
What drove it
- The company added 32,600 new funded clients in the second quarter, with the great majority from Singapore and Hong Kong markets.
- Net asset inflows from overseas retail users amounted to over $1.5 billion in the second quarter.
- Client assets in Hong Kong increased by nearly 30% quarter-over-quarter, Australia-New Zealand client assets grew by more than 30% quarter-over-quarter, and U.S. client assets grew by nearly 50% quarter-over-quarter.
- The company underwrote 14 Hong Kong IPOs and participated in the distribution of four U.S. IPOs.
- The company added 50 new ESOP clients, bringing aggregate ESOP clients served to 840 as of June 30, 2026.
- Fractional share trading for Singapore-listed stocks and REITs was launched in Singapore, and a tax reporting tool was rolled out under Hong Kong, Singapore and New Zealand regulatory licenses.
- Cboe index options trading was launched in Hong Kong.
Concerns
- Total operating costs and expenses increased 46.5% year-over-year to US$103.9 million, exceeding the 31.4% year-over-year increase in total revenues.
- Employee compensation and benefits expenses included one-time severance costs from business line optimization and higher performance-based bonus accruals.
- Marketing and branding expenses increased 86.6% year-over-year to US$18.4 million.
- Communication and market data expenses increased 56.4% year-over-year to US$16.2 million because of higher IT-related service fees.
- General and administrative expenses increased due to higher bad debts expense; the prior-year quarter included reversals of allowance for credit losses upon loan repayments.
- GAAP and non-GAAP net income attributable to ordinary shareholders were below the same quarter of last year.
What to watch
- Whether commission income continues to benefit from trading-volume growth.
- The trajectory of interest income, margin financing and securities lending activities.
- Operating-cost growth, particularly marketing and branding, communication and market data, employee compensation and benefits, and bad debts expense.
- Client-asset growth and net asset inflows across Hong Kong, Singapore, Australia-New Zealand and U.S. markets.
- Further ADS repurchases under the existing share repurchase program.
Balance sheet and cash flow
- Cash and cash equivalents were US$542,514,490 as of June 30, 2026, compared to US$791,016,893 as of December 31, 2025.
- Term deposits were US$2,094,139 as of June 30, 2026, compared to US$2,061,474 as of December 31, 2025.
- Cash and cash equivalents, and term deposits were US$544.6 million as of June 30, 2026, compared to US$793.1 million as of December 31, 2025.
- Total assets were US$9,749,870,117 as of June 30, 2026, compared to US$8,226,531,037 as of December 31, 2025.
- Total liabilities were US$8,857,650,916 as of June 30, 2026, compared to US$7,356,352,294 as of December 31, 2025.
- Convertible bonds-current were — as of June 30, 2026, compared to US$111,178,103 as of December 31, 2025.
- Convertible bonds were US$53,118,736 as of June 30, 2026, compared to US$51,000,000 as of December 31, 2025.
- Total UP Fintech shareholders’ equity was US$887,146,233 as of June 30, 2026, compared to US$865,507,397 as of December 31, 2025.
Analysis
UP Fintech delivered record second-quarter total revenues of US$182.3 million, up 31.4% year-over-year and 17.7% quarter-over-quarter. Total net revenues were US$160.7 million, up 32.4% year-over-year and 17.6% quarter-over-quarter. Growth was broad across revenue sources: commissions rose 20.9% to US$78.3 million on higher trading volume, interest income rose 36.0% to US$79.8 million on increased margin financing and securities lending activity, and other revenues rose 67.6% to US$21.0 million on wealth management service and exchange revenue.
Client activity and balances expanded. The company added 32,600 new funded clients, and customers with deposits reached 1,315.4 thousand, up 10.3% year-over-year. Total account balance reached US$60.7 billion, up 16.7% year-over-year and 3.1% quarter-over-quarter. Total margin financing and securities lending balance increased 28.9% year-over-year to US$7.4 billion. Trading volume was US$345,271.9 million and trading volume of stocks was US$154,491.8 million. Management cited over $1.5 billion of net asset inflows from overseas retail users and quarter-over-quarter client-asset growth in all overseas markets.
Income from operations was US$56.8 million, increasing 12.6% year-over-year and 19.5% quarter-over-quarter. The year-over-year increase trailed revenue growth as total operating costs and expenses rose 46.5% to US$103.9 million. Cost growth reflected one-time severance costs and higher performance-based bonus accruals in compensation, higher IT-related service fees, increased marketing spending, and higher bad debts expense. Marketing and branding expenses rose 86.6% year-over-year to US$18.4 million, while communication and market data expenses rose 56.4% to US$16.2 million.
GAAP net income attributable to ordinary shareholders was US$39.4 million and non-GAAP net income attributable to ordinary shareholders was US$42.8 million, compared with GAAP and non-GAAP net losses of US$26.9 million and US$23.8 million in the prior quarter. Both earnings measures were below the same quarter of last year, when GAAP net income attributable to ordinary shareholders was US$41.4 million and non-GAAP net income was US$44.5 million. Diluted GAAP net income per ADS was US$0.21 and diluted non-GAAP net income per ADS was US$0.23.
The company reported US$544.6 million in cash and cash equivalents and term deposits as of June 30, 2026, compared with US$793.1 million as of December 31, 2025. It had repurchased approximately US$5 million of ADSs to date under its 12-month share repurchase plan announced on June 2, 2026. The release provided no quantitative forward guidance. Key areas to monitor are sustained overseas client-asset inflows, activity-driven commission and interest-related income, and whether elevated marketing, technology, personnel and credit-related costs moderate relative to revenue growth.
Management, verbatim
In the second quarter, we saw substantial improvement in both commission income and interest related income compared with both the prior quarter and the same quarter of last year.
Mr. Wu Tianhua, Chairman and CEO of UP Fintech
Our total revenue for the second quarter reached US$182.3 million, hitting an all-time high and representing a sequential increase of 17.7% and a year-over-year growth of 31.4%.
Mr. Wu Tianhua, Chairman and CEO of UP Fintech
Moving forward, we will assess market conditions and may execute additional buyback activities from time to time under the existing share repurchase program.
Mr. Wu Tianhua, Chairman and CEO of UP Fintech
Not in the filing
stated, not guessed- Forward revenue guidance
- Forward gross margin guidance
- Forward operating-expense guidance
- Forward tax-rate guidance
- Prior guidance for comparison
- Gross profit
- Gross margin
- Operating cash flow
- Free cash flow
- Dividend information
- Total debt line item
- Cash flow statement
- Quantitative quarter-over-quarter changes for commissions, financing service fees, interest income, other revenues, interest expense, individual operating expense categories, net income and EPS
- Operating segments reported by the company
AlphaAI analysis generated from the company’s SEC earnings filing (Form 8-K Item 2.02, or Form 6-K for a foreign private issuer). Every figure was cross-checked against the filing text; consensus estimates, price targets and share-price reactions are not shown because they are not in the filing. AI-generated research, not investment advice.
Background
UP Fintech Holding Ltd (NASDAQ:TIGR) filed a Form 6‑K reporting its unaudited Q2 2026 results, marking the first public disclosure of these numbers.
Ticker impact
Q2 2026 earnings released via Form 6‑K showing 31.4% YoY revenue growth to $182.3 M and a swing to $39.4 M GAAP net income.
Potential short‑term price rally of 5‑8% as investors digest the earnings beat.
Revenue and earnings both exceeded prior quarter and year‑over‑year, and the company announced a $5 M share repurchase, reinforcing bullish sentiment.
Market effects
Positive earnings may lift other online brokerage and fintech peers, especially those with exposure to Asian retail investors.
Boosts sentiment for Singapore and Hong Kong listed fintechs as the company highlighted strong growth in those markets.
Adds to the broader narrative of resilient retail trading volumes amid a volatile macro environment.
Counterpoint
If the earnings growth is driven by temporary market volatility, the rally could be short‑lived and a pull‑back may follow.
Key entities
- companyUP Fintech Holding Ltd
Online brokerage focused on global retail investors, listed on NASDAQ under TIGR.
