UP Fintech Holding Ltd American Depositary Share representing fifteen - TIGR STOCK NEWS

UP Fintech (NASDAQ: TIGR) reported its first-quarter 2024 financial results, showcasing significant growth. Revenue hit a three-year high of $78.9 million, a 19% YoY increase, and net profit rose by 42% YoY to $14.7 million. The company added 51,700 new global accounts, reaching 2.25 million total accounts, with 28,800 new funded accounts. Trading volume surged by 27.4% YoY to $85.4 billion, and client assets hit a record $32.9 billion, up 103.8% YoY. Additionally, UP Fintech launched innovative products in Singapore and strengthened its market presence in Hong Kong. The company saw a notable asset inflow and client growth in Australia and New Zealand.

UP Fintech Holding (NASDAQ: TIGR) reported its unaudited financial results for the first quarter of 2024. Total revenue was $78.9 million, a 19% increase year-over-year. GAAP net income was $12.3 million, compared to a net loss of $1.8 million in the previous quarter, while Non-GAAP net income was $14.7 million, marking a 42.4% increase year-over-year.

The company added 28,800 new funded accounts, bringing the total to 933,400. Net asset inflows were $5.3 billion, with the total account balance reaching $32.9 billion. Additionally, UP Fintech launched new products in Singapore and Hong Kong and obtained a Type 9 license from Hong Kong's SFC.

Operating costs increased by 10.6% year-over-year to $50.8 million. Interest expense rose by 75.9% to $14.8 million, primarily due to higher interest rates. Cash and cash equivalents stood at $363.9 million as of March 31, 2024.

UP Fintech Holding (NASDAQ: TIGR), an online brokerage firm, will release its Q1 2024 financial results on June 5, 2024, before the U.S. market opens.

An earnings conference call will be held the same day at 8:00 AM U.S. Eastern Time (8:00 PM Singapore/Hong Kong Time).

Participants must preregister online to receive dial-in numbers and personal PINs. The conference call will be available live and archived on the company's investor relations website.

Tiger Brokers (Nasdaq: TIGR) has launched virtual asset trading services in Hong Kong, offering a platform for trading traditional securities and 18 virtual assets, including Bitcoin and Ethereum. The company aims to streamline global asset allocation for professional investors with affordable fees and secure services. Tiger Brokers has secured an upgrade to its Type 1 license conditions from the SFC, offering competitive trading rates at 0.2% of the transaction value for virtual assets. The platform enables instant T+0 exchange between Hong Kong and US dollars, with plans to extend services to retail investors in the future.

UP Fintech Holding (TIGR) announces Tiger Brokers (HK) Global has been granted a Type 9 license by Hong Kong's Securities and Futures Commission, allowing them to provide asset management services. TBHK will offer discretionary account services to retail and professional investors, along with asset management services for professional investors. The company's asset management team will focus on tactical asset allocation and long-term value investing, providing tailored investment strategies for clients and a user-friendly platform interface. TBHK has gained popularity in Hong Kong due to its competitive pricing, zero commission on equity trading, and innovative wealth management products.

UP Fintech Holding (TIGR) reports strong financial performance with revenue of US$70 million in Q4 2023, marking a 20.9% YoY increase. Non-GAAP net income for the year totaled US$42.7 million, a 3.4x growth from 2022. The company added 47,797 new global account holders in Q4, reaching a total of 2.2 million. Total client assets grew to US$30.6 billion, with a 62.1% QoQ and 118.5% YoY increase. Singapore accounts for over 75% of total client assets. The company aims to solidify its market share in Singapore, Australia, New Zealand, and Hong Kong to become a world-leading fintech brokerage.

UP Fintech Holding (TIGR) announces impressive financial results for Q4 and full year 2023, showing significant revenue growth and improved bottom line. The company reported a 9.6% increase in total revenue for Q4 and a 20.9% increase for the full year. Net income reached US$32.6 million for the year, a stark improvement from a net loss of US$2.2 million in 2022. UP Fintech added over 39,000 new funded accounts in Q4 and achieved a record net asset inflow of US$8.2 billion. The company also expanded its product offerings and received approval for Virtual Asset dealing services in Hong Kong.

UP Fintech Holding Limited announces the release of its financial results for Q4 and full year 2023 on March 20, 2024. The company will host an earnings conference call at 8:00 AM U.S. Eastern Time on the same day.

UP Fintech Holding Limited (TIGR) announced the upgrade of its Type 1 license for virtual asset dealing services in Hong Kong, making it one of the first mainstream online brokerage firms to receive approval for such a license upgrade. The upgrade allows the company to provide cryptocurrency trading services to Professional Investor clients in Hong Kong through its flagship platform, Tiger Trade, with plans to expand to retail investors in the future. The upgrade enables seamless trading of traditional securities and cryptocurrencies on a unified platform, offering a centralized investment management experience. Tiger Brokers also emphasized its low costs and competitive pricing, as well as its wealth management product, Tiger Vault, and infrastructure improvements such as fully self-clearing for U.S. and Hong Kong cash equities.