UP Fintech Holding Full Year 2023 Earnings: Misses Expectations

UP Fintech Holding (NASDAQ:TIGR) Full Year 2023 Results

Key Financial Results

• Revenue: US$225.5m (up 9.1% from FY 2022).

• Net income: US$32.6m (up from US$2.19m loss in FY 2022).

• Profit margin: 14% (up from net loss in FY 2022). The move to profitability was primarily driven by higher revenue.

• EPS: US$0.21 (up from US$0.014 loss in FY 2022).

revenue-and-expenses-breakdown

All figures shown in the chart above are for the trailing 12 month (TTM) period

UP Fintech Holding Revenues and Earnings Miss Expectations

Revenue missed analyst estimates by 1.5%. Earnings per share (EPS) also missed analyst estimates by 28%.

In the last 12 months, the only revenue segment was Brokerage contributing US$225.5m. The largest operating expense was General & Administrative costs, amounting to US$131.9m (86% of total expenses). Explore how TIGR's revenue and expenses shape its earnings.

Looking ahead, revenue is forecast to grow 10% p.a. on average during the next 3 years, compared to a 6.8% growth forecast for the Capital Markets industry in the US.

Performance of the American Capital Markets industry.

The company's shares are down 14% from a week ago.

Balance Sheet Analysis

While earnings are important, another area to consider is the balance sheet. We have a graphic representation of UP Fintech Holding's balance sheet and an in-depth analysis of the company's financial position.

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