On November 12, 2024, UP Fintech Holding Limited announced its unaudited financial results for the third quarter ended September 30, 2024, reporting record total revenue of US$101.1 million, a 44.1% increase year-over-year. Non-GAAP net income attributable to shareholders reached US$20.1 million, marking a 25.6% year-over-year increase and a three-year peak for profitability. The company also achieved its annual guidance of acquiring 150,000 newly funded accounts by early November.
Operational highlights included the addition of 50,500 new funded accounts, bringing the total to 1,032,800, a 19.3% year-over-year increase. Total client assets surged to a record US$40.8 billion, representing a 115.9% year-over-year increase, driven by strong net deposits. Trading volume remained robust, increasing 103.1% year-over-year to US$163 billion.
Product enhancements in Q3 2024 included the official launch of Hong Kong stock option trading and short selling, with weekly options added in early November. The company also introduced the Tiger BOSS Debit Card and T+0 automatic subscription and redemption for its wealth management product, Tiger Vault. The corporate business performed well, underwriting 13 U.S. and Hong Kong IPOs and adding 18 new ESOP clients, bringing the total to 597.
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