eToro’s (NASDAQ: ETOR) FY24 Net Income Soars 1161% on Crypto Gains; Projects User Growth Amid EBITDA Headwinds in Q1

Sun 25 May 25, 04:23 AM | Team Kalkine

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Highlights

eToro’s FY24 revenue rose 254% to USD 12,147 million, primarily driven by an 8% rise in net trading

Net income surged 1161.5% to USD 192.4 million, driven by higher revenue

The company priced its upsized IPO at USD 52.00 per share for 119.2 million Class A shares, split evenly between the company and existing shareholders

eToro Group Ltd (NASDAQ: ETOR) is a global financial platform founded in 2007. It offers retail access to stocks, commodities, currencies, and crypto assets. It features social investing tools like CopyTrader, Smart Portfolios, and a community network. Services include eToro Money, extended-hours trading, charting tools, and the Popular Investor program. The platform also provides educational resources through eToro Academy and is headquartered in a major financial hub.

In the financial year 2024 (FY24), eToro reported a 254% surge in revenue from crypto assets to USD 12,147 million from USD 3,431 million in 2023, primarily driven by an 8% rise in the net trading income from equities, commodities, and currencies. Net income surged 1161.5% to USD 192.4 million, driven by higher revenue. Total cash and cash equivalents increased by 48.2% to USD 575.0 million, partially offset by cash outflow from investing and financial activities.

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