eToro Group Ltd, the trading and investing platform, today announced financial results for the second quarter ended June 30, 2025.
Second Quarter 2025 Financial and Product Highlights:
Net contribution increased by 26% year over year to $210 million, compared to $167 million in the second quarter of 2024, driven primarily by increased trading activity.
Net income (GAAP) was $30.2 million, compared to $30.6 million in the second quarter of 2024, and included $15 million of IPO and other related costs.
Adjusted Net Income (Non-GAAP) was $54.2 million, compared to $44.2 million in the second quarter of 2024.
Adjusted EBITDA (non-GAAP) increased by 31% year over year to $72 million, compared to $55 million in the second quarter of 2024, largely due to increased revenue and disciplined cost management.
Adjusted Diluted EPS (non-GAAP) was $0.56, compared to $0.51 in the second quarter of 2024.
Funded accounts increased 14% year over year to 3.63 million compared to 3.17 million in the second quarter of 2024. This was driven primarily by ongoing user acquisition and retention efforts, as well as the acquisition of Australian investing app Spaceship in 2024.
Assets under Administration grew by 54% year over year to $17.5 billion, compared to $11.3 billion in the second quarter of 2024.
Cash, cash equivalents and short term investments were $1.2 billion as of June 30, 2025.
Launched key products in AI, tokenization, savings and eToro money across our four pillars of Trading, Investing, Wealth Management and Neo-banking.
“I am proud of the eToro team for delivering another strong quarter, while meaningfully expanding our product innovation and geographical footprint. In the second quarter, we offered 24/5 trading for U.S. equities, introduced new long-term portfolios in partnership with Franklin Templeton, and launched savings products in France, all while strengthening our footprint in Asia through our new Singapore hub. These advancements reflect our commitment to making investing simpler and more accessible for our global community. Looking ahead, we are excited to continue developing technologies like tokenization and AI tools that we believe will transform how retail investors interact with the markets and create new opportunities for growth. As we continue to execute on our strategy, we remain confident in our ability to drive sustainable value for our users and shareholders,” commented Yoni Assia, CEO and Co-founder of eToro.
“We are very pleased with our 2025 second quarter results, the first as a public company. Net contribution grew 26% year over year and adjusted EBITDA grew 31% year over year reflecting our focus on profitable revenue growth,” said Meron Shani, eToro CFO.
Business Highlights
eToro continued to focus on sustainable, profitable growth in the second quarter, launching products and services to support users at every stage of their investing journey.
See “Non-GAAP Financial Metrics and Key Performance Indicators” below for additional information and a reconciliation to GAAP for all Non-GAAP financial metrics. Adjusted EBITDA margin is based on net contribution.
- Trading: eToro strengthened its trading offering with the launch of 24/5 trading for 100 U.S. equities, enabling users to trade around the clock. The Company expanded its U.S. crypto offering to over 100 assets, aligning with its global coverage of over 130. In addition, eToro announced its tokenization strategy and is launching tokenized US listed stocks, laying the groundwork for tokenized stocks with future transfer capabilities. Futures and spot-quoted futures were also made accessible to more investors, providing new opportunities for diversification.
- Investing: eToro rolled out a suite of Alpha Portfolios as part of its Smart Portfolio offering. These AI-powered strategies are built using advanced analysis of multiple sources of data including eToro’s proprietary retail trading data. In addition, eToro announced a partnership with Franklin Templeton to launch new portfolios offering target date investment strategies. AI innovation continues to play a key role at the Company, highlighted by the introduction of Tori, an AI-powered analyst built on the latest LLM models, which delivers personalized insights, platform guidance, and educational support. The Company has also launched a suite of AI-powered tools and APIs to enable advanced strategy building and customization.
- Wealth management: As part of its long-term investment strategy, eToro continued to enhance its wealth solutions, launching French savings products, including retirement (PER) and life insurance, giving users access to long-term, tax-advantaged investing directly on the platform. The Company expanded recurring investments beyond the U.K. and E.U. to the U.A.E., enabling more users to automate contributions into stocks, ETFs, and crypto.
- Neo-banking: The Europe-wide rollout of the eToro Money card turned everyday spending into portfolio-building with 4% stock-back rewards, premium travel benefits, and 0% FX fees. The card complements eToro’s local IBAN offering, allowing seamless management of spending, deposits, and investments across the platform.
- Global expansion: eToro activated its Capital Markets Services license from the Monetary Authority of Singapore (MAS). This reinforces eToro’s presence in the Asia-Pacific region, establishing Singapore as its Asian headquarters, supported by local talent, strategic partnerships, and contributions to Singapore’s fintech ecosystem.
