Tiger Brokers Q1 Revenue Up 26.3% Year-on-Year, Reports Net Loss of Approximately $26.9 Million
On June 2, Tiger Brokers announced its unaudited financial data for the first quarter, reporting revenue of $155 million, a year-on-year increase of 26.3%. Operating profit was $47.55 million, up 17.5% year-on-year, with a stable operating profit margin of 34.8%. The net loss attributable to the company for the first quarter was approximately $26.9 million, with a non-GAAP net loss of about $23.8 million, compared to net profits of $30.4 million and $36 million in the same period last year. This decline was primarily due to the inclusion of approximately $41.1 million in regulatory fines. Given the company's overall profitability and cash flow situation, this one-time expense is not expected to have a significant adverse impact on the company's business operations or long-term development. In the first quarter, Tiger Brokers added 29,000 new depositing clients, driving a year-on-year increase of 11.3% in total depositing clients to 1.283 million. The company's business activity continued to improve, with total transaction volume increasing by 49% year-on-year to $323.9 billion; net deposits maintained strong growth, reaching $2.9 billion, which propelled total client assets to grow by 28.4% year-on-year to $58.9 billion.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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