Up Fintech Holding Stock Earnings Reports

UP Fintech (Tiger Brokers) reported Q1 2026 revenue of $155M, up 26% YoY, and operating profit of $47.6M, up 17% YoY. The company added 28,900 new funded accounts (total funded accounts 1.28M, +11.3% YoY) and recorded net client asset inflows of $2.9B in Q1, although mark-to-market losses of $4.9B (Q1) reduced quarter-end client assets to $58.9B (still +28.4% YoY). Management says Q2-to-date markets have rebounded and the Q1 mark-to-market loss has been fully recovered. Regional inflows were led by Singapore and Hong Kong (Singapore >1/3 of retail inflows; Australia/NZ + U.S. ~1/3 combined). Product and service highlights: major Tiger AI upgrade (multi-agent architecture, addition of Claude model, new futures AI agent), launch of HK index options and option TWAP orders, strong 2B underwriting business (10 HK IPOs, 2 large U.S. SPAC IPOs), and ESOP growth (790 clients). The Board approved a $50M share repurchase program (12 months). The company recorded a one-time regulatory penalty (~RMB 411M / ~$60M) and booked it in Q1; management calls it nonrecurring and not materially adverse to long-term operations. Q1 results were affected by a noncash tax adjustment related to share-based compensation, which raised tax expense; excluding that, management expects an effective tax rate below 20%. Management reiterated confidence in full-year guidance and emphasized focus on higher-quality user acquisition (higher AUM per acquisition).