UP Fintech hits all-time high non-GAAP net profit in 2023.

March 21, 2024
1 min read

TLDR: UP Fintech Achieves Record High Non-GAAP Net Profit in 2023

UP Fintech Holding Limited reported significant increases in fourth quarter and full-year earnings for 2023, with non-GAAP net profit reaching a record high. Key elements of the article include:

  • Fourth quarter revenue increased by 9.6% year-over-year to $70 million.
  • Full year revenue grew by 21% to $273 million with a net profit of $32.6 million.
  • Non-GAAP net profit reached a record high of $42.7 million in 2023.
  • The company added 39,000 funded accounts in Q4, totaling over 900,000 funded accounts.
  • Total client assets doubled year-over-year to $30.6 billion.
  • New products like Combo Option Strategy and Fixed Coupon Notes were introduced.
  • UP Fintech plans to add 150,000 new funded accounts in 2024.

The article highlights the company’s strong financial performance, focus on market expansion, new product offerings, and customer acquisition strategies. Despite challenges like foreign exchange losses, UP Fintech remains optimistic about its future growth and profitability.

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