On March 18, 2025, UP Fintech Holding Limited reported record financial results for the fourth quarter and full year ended December 31, 2024. Q4 revenue reached US$124.1 million, up 77.3% year-over-year, while full-year revenue hit US$391.5 million, a 43.7% year-over-year increase. Non-GAAP net income for Q4 was US$30.5 million, surging 2772.5% year-over-year, and full-year non-GAAP net income grew 65% to US$70.5 million.
The company added 59,200 new funded clients in Q4, bringing the full-year total to 187,400, surpassing its annual guidance. Total funded clients reached 1,092,000, a 20.7% year-over-year increase. Total client assets grew 36.4% year-over-year to a record US$41.7 billion, with Q4 trading volume increasing 142.2% year-over-year to US$198 billion.
Strategic developments included YAX (Hong Kong) Limited receiving Type 1 and Type 7 licenses from the HKSFC in late January 2025, establishing it as a licensed virtual asset trading platform. The company also upgraded its AI investment assistant from TigerGPT to TigerAI. The investment banking business underwrote 14 US and Hong Kong IPOs in Q4, contributing to a total of 44 IPOs for the full year, and the ESOP business added 16 new clients in Q4, reaching 613 total enterprises served.
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