The online trading platform recently released its first earnings report as a publicly traded company, reflecting a mix of performance indicators. For the second quarter of 2025, net contribution rose by 26%, reaching $210 million, up from $167 million in the same quarter last year. This increase was largely fueled by heightened trading activity on the platform. However, net income remained relatively unchanged at $30.2 million, compared to $30.6 million in Q2 2024.
Part of the earnings report included costs amounting to $15 million related to its initial public offering and other one-time expenses. After excluding these costs, adjusted net income increased to $54.2 million, up from $44.2 million a year prior. When compared to the first quarter of 2025, both net contribution and net income showed declines, with net contribution decreasing by about 3% and net income falling by nearly 50%, down from $60 million in Q1.
The platform also saw a 14% increase in funded accounts, growing from 3.17 million to 3.63 million year-over-year. This growth was attributed to successful customer acquisitions and the acquisition of an Australian investing app in 2024. Additionally, assets under administration saw a remarkable 54% surge, rising to $17.5 billion from $11.3 billion in the previous year.
The platform ended June with $1.2 billion in cash and short-term investments, highlighting its strong financial position. The CEO pointed out significant advancements in product development during this quarter, including the introduction of 24/5 trading for U.S. equities and the launch of new long-term portfolios in collaboration with Franklin Templeton. The company further expanded its presence in Asia with a new office in Singapore.
New features rolled out included expanded trading hours for U.S. stocks and an increase in cryptocurrency offerings, now exceeding 100 digital assets. The introduction of AI-driven investment strategies, referred to as Alpha Portfolios, showcased the company’s commitment to leveraging technology for enhanced user experience.
In terms of revenue, cryptocurrencies continued to dominate, generating $1.915 billion in Q2 2025, a 17% increase from the previous year. The platform also reported growth in other revenue streams, including equities and commodities, which skyrocketed by 37% to $114 million.
The company made strides in geographic and product diversification too. New savings products, including retirement and life insurance options, were launched in France, and a debit card offering stock rewards was introduced in Europe. The activation of a license from Singapore’s financial regulator positioned the platform as a key player in the Asian market.
Future plans include developing tokenization technology and AI tools, which are expected to revolutionize how retail investors engage with the markets and open up new avenues for growth. This strategic focus on innovation and expansion signals a commitment to maintaining and increasing market presence in an increasingly competitive environment.