Up Fintech Holding (TIGR) financial statements
Up Fintech Holding reported revenue of $612M in fiscal 2025, up 56.6% a year over 8 years.
Net income was $171M and the operating margin 46.0%, against -53.2% in 2017.
Free cash flow was $1.3B.
The diluted share count rose 533% over the period (dilution).
Revenue and free cash flow
Fiscal years, $ billions.
Income statement
Fiscal years, from Up Fintech Holding's 10-K filings with the SEC.
| Fiscal year | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|
| Revenue | $17M | $34M | $59M | $138M | $264M | $225M | $273M | $392M | $612M |
| Research and development | $6M | $11M | $18M | $23M | $48M | $60M | $63M | $80M | $100M |
| Selling, general and admin | $10M | $18M | $16M | $30M | $82M | $51M | $43M | $68M | $86M |
| Operating income | -$9M | -$47M | -$6M | $31M | $36M | $20M | $80M | $139M | $282M |
| Interest expense | — | — | $4M | $10M | $18M | $19M | $47M | $61M | $73M |
| Pre-tax income | -$9M | -$46M | -$9M | $22M | $19M | $2M | $46M | $82M | $207M |
| Income tax | -$1M | -$2M | -$3M | $3M | $4M | $4M | $13M | $20M | $36M |
| Net income | -$8M | -$43M | -$7M | $16M | $15M | -$2M | $33M | $61M | $171M |
| EPS (diluted) | -$0.02 | -$0.09 | $0.00 | $0.01 | $0.01 | $0.00 | $0.01 | $0.02 | $0.06 |
| Diluted shares | 444M | 506M | 1.75B | 2.16B | 2.34B | 2.30B | 2.43B | 2.53B | 2.81B |
| Operating margin | -53.2% | -139.7% | -10.4% | 22.5% | 13.6% | 9.1% | 29.3% | 35.6% | 46.0% |
| Net margin | -44.3% | -128.7% | -11.2% | 11.6% | 5.6% | -1.0% | 11.9% | 15.5% | 27.9% |
Balance sheet
Fiscal years, from Up Fintech Holding's 10-K filings with the SEC.
| Fiscal year | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|
| Cash and short-term investments | $18M | $34M | $59M | $80M | $269M | $278M | $323M | $394M | $791M |
| Receivables | — | $353,304 | $106M | $372M | — | — | — | — | — |
| Total current assets | — | $103M | $770M | $2.2B | $3.3B | $3.7B | $3.7B | $6.3B | $8.2B |
| Property, plant and equipment | — | $1M | $1M | $2M | $5M | $6M | $5M | $4M | $6M |
| Goodwill | — | — | $2M | $2M | $2M | $2M | $2M | $2M | $2M |
| Total assets | — | $115M | $809M | $2.2B | $3.3B | $3.8B | $3.7B | $6.4B | $8.2B |
| Total current liabilities | — | $17M | $588M | $2.0B | $2.7B | $3.2B | $3.1B | $5.6B | $7.3B |
| Total liabilities | — | $17M | $594M | $2.0B | $2.9B | $3.3B | $3.3B | $5.7B | $7.4B |
| Shareholders' equity | -$15M | -$24M | $212M | $236M | $447M | $447M | $489M | $655M | $866M |
| Net debt | -$18M | -$34M | -$59M | -$80M | -$269M | -$278M | -$323M | -$394M | -$791M |
Cash flow
Fiscal years, from Up Fintech Holding's 10-K filings with the SEC.
| Fiscal year | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|
| Operating cash flow | -$9M | -$21M | $243M | $535M | $413M | $258M | -$7M | $828M | $1.3B |
| Capital spending | $585,016 | $2M | $1M | $978,142 | $5M | $5M | $3M | $2M | $5M |
| Free cash flow | -$9M | -$23M | $242M | $534M | $408M | $253M | -$9M | $826M | $1.3B |
| Stock-based compensation | $349,700 | $34M | $4M | $6M | $13M | $14M | $10M | $10M | $16M |
| Share buybacks (net) | — | — | — | -$2M | — | — | — | — | — |
| Net borrowing | — | — | -$1M | — | — | — | — | — | — |
| Free cash flow margin | -53.7% | -68.1% | 412.5% | 385.8% | 154.3% | 112.3% | -3.4% | 211.1% | 214.2% |
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Open TIGR in InvestinglyQuestions
What was Up Fintech Holding's revenue in 2025?
$612M in fiscal 2025, from its 10-K filing.
How much free cash flow does Up Fintech Holding generate?
$1.3B in fiscal 2025 (operating cash flow minus capital spending).
From Up Fintech Holding's annual reports filed with the SEC (XBRL data), standardised by Investingly. Information only, not investment advice.