UP Fintech Registers 32% Revenue Growth In Q4

  • UP Fintech Holding Ltd TIGR reported fourth-quarter FY21 revenue growth of 31.7% year-on-year to $62.2 million, beating the consensus of $52.8 million.
  • Segments: Commissions were $29.9 million, up 18.3% Y/Y. Financing service fees were $2.3 million, up 44.5% Y/Y.
  • Interest income was $20.3 million, up 73.5% Y/Y. 
  • Drivers: The total account balance rose 7.1% Y/Y to $17.1 billion. The total number of customers with deposits increased by 160.3%.
  • Total margin financing and securities lending balance decreased 11.3% Y/Y to $1.8 billion.
  • Non-GAAP net income per ADS of $0.00 missed the consensus of $0.27.
  • UP Fintech held $272.1 million in cash and equivalents.
  • UP Fintech added 61,400 funded accounts, of which over 90% came from outside China. By the end of Q4, UP Fintech acquired 414,700 funded accounts in 2021, surpassing the 350,000 new funded account guidance set.
  • Price Action: TIGR shares traded higher by 3.66% at $4.25 in the premarket session on the last check Friday.

Posted In: BriefsEarningsNewsPenny StocksSmall CapTech

Ad Disclosure: The rate information is obtained by Bankrate from the listed institutions. Bankrate cannot guaranty the accuracy or availability of any rates shown above. Institutions may have different rates on their own websites than those posted on Bankrate.com. The listings that appear on this page are from companies from which this website receives compensation, which may impact how, where, and in what order products appear. This table does not include all companies or all available products.

All rates are subject to change without notice and may vary depending on location. These quotes are from banks, thrifts, and credit unions, some of whom have paid for a link to their own Web site where you can find additional information. Those with a paid link are our Advertisers. Those without a paid link are listings we obtain to improve the consumer shopping experience and are not Advertisers. To receive the Bankrate.com rate from an Advertiser, please identify yourself as a Bankrate customer. Bank and thrift deposits are insured by the Federal Deposit Insurance Corp. Credit union deposits are insured by the National Credit Union Administration.

Consumer Satisfaction: Bankrate attempts to verify the accuracy and availability of its Advertisers' terms through its quality assurance process and requires Advertisers to agree to our Terms and Conditions and to adhere to our Quality Control Program. If you believe that you have received an inaccurate quote or are otherwise not satisfied with the services provided to you by the institution you choose, please click here.

Rate collection and criteria: Click here for more information on rate collection and criteria.