EToro Reports 10% Rise In Full Year Net Contribution To $868 Million As Funded Accounts Grow

eToro Group Ltd. (NASDAQ: ETOR), the multi-asset trading and investing platform, has reported full year 2025 financial results showing net contribution rising 10% year-over-year to $868 million, up from $788 million in 2024, with net income climbing 12% to $216 million.
 

The results, covering the twelve months ended 31 December 2025, mark eToro's first full year as a publicly traded company following its initial public offering, which raised $377.9 million net of underwriting discounts, commissions and other issuance costs.
 

For the full year, adjusted EBITDA increased 4% to $317 million compared to $304 million in 2024, while adjusted net income rose 10% to $251 million. Adjusted diluted earnings per share came in at $2.64, marginally below the $2.67 recorded in 2024, reflecting the higher share count following the IPO.

Yoni Assia, Chief Executive Officer, eToro

Yoni Assia, Chief Executive Officer, eToro said:
"This was a milestone year for eToro. We became a publicly traded company and significantly advanced the build-out of our global financial super-app. In 2025, we accelerated product innovation and AI adoption, expanded access to global markets, broadened and localized our offering, and strengthened eToro's footprint around the world.

We are operating at a pivotal moment for financial services. Artificial intelligence and progress towards on-chain market infrastructure are reshaping how people invest and interact with markets and eToro is uniquely positioned to capture this opportunity. Through our public APIs and suite of AI-powered tools, users and partners can build, share, and scale strategies and tools, as part of a growing ecosystem. We are launching a number of apps ahead of the roll out of the eToro App Store, bringing enhanced capabilities to our retail audience.

In parallel, we are positioning eToro for a financial system that is increasingly moving on-chain. With our long-standing leadership in crypto and tokenization, we are well placed to help shape this transition. This quarter, we are introducing 24/7 access to select popular assets with plans to expand around-the-clock access across asset classes.

Our focus remains on empowering users through a simple, transparent, and digital-first investing experience, while positioning eToro to serve the next generation of investors at every stage of their journey. We are uniquely positioned as both a natively crypto company and a global equities trading platform. We look forward to capturing the many long-term growth opportunities ahead for the benefit of our users, shareholders, and partners."

Fourth quarter results presented a more mixed picture. Net contribution fell 10% year-over-year to $227 million, and adjusted EBITDA declined 19% to $87 million, compared to $108 million in Q4 2024. Net income for the quarter nonetheless rose 16% to $69 million, with adjusted net income up 6% to $70 million. Adjusted diluted EPS for the quarter was $0.71, down from $0.79 in the same period a year earlier.
 

Funded accounts, a key operational metric representing users who have completed onboarding, deposited funds and executed at least one trade with a positive account balance, grew 9% year-over-year to 3.81 million at the end of Q4 2025. Assets under administration stood at $18.5 billion, up 11% year-over-year, while cash, cash equivalents and short-term investments totalled $1.3 billion as of 31 December 2025.

The company's balance sheet showed total assets of $1.79 billion at year-end, up from $1.19 billion at the end of 2024, with equity attributable to shareholders rising to $1.39 billion from $832 million, partly reflecting the IPO proceeds.
 

Revenue composition continues to be dominated by cryptoasset activity. Total revenue and income for the full year reached $13.84 billion, of which $12.98 billion was revenue from cryptoassets, against a cost of revenue from cryptoassets of $12.93 billion, leaving a relatively thin gross margin on that segment. Net trading income from equities, commodities and currencies grew to $399 million for the full year, up from $329 million in 2024, while net interest income from users rose to $213 million from $197 million.
 

For January 2026, eToro reported assets under administration of $18.4 billion, up 2% year-over-year, and funded accounts of 3.85 million, up 9% year-over-year. Capital markets trading activity was notably strong, with total trades reaching 74 million for the month, up 55% year-over-year. Crypto trading, by contrast, showed a decline, with total crypto trades of 4 million, down 50% year-over-year, and invested amount per trade falling 34% to $182. Total money transfers for January reached $1.8 billion, up 68% year-over-year.

Meron Shani, Chief Financial Officer, eToro

Meron Shani, Chief Financial Officer, eToro commented:
"Our fourth quarter results reflect the strength and resilience of our multi-asset business model. We delivered compelling financial performance through a combination of diversified revenue streams, healthy funded accounts growth, and disciplined financial management. Furthermore, we are off to a strong start to 2026 with our January capital markets KPIs demonstrating the ability of our platform to adapt and perform across all different market conditions, including the recent spike in commodities trading. With our strong balance sheet and a clear execution roadmap, we believe that we are well positioned to deliver accelerated growth in 2026."

On the product side, eToro expanded its equities offering to cover stocks listed on the Abu Dhabi Securities Exchange, Hong Kong Stock Exchange and Nordic exchanges, bringing its total to 25 stock exchanges. Its crypto offering grew to more than 150 cryptoassets, including more than 100 for US users. The company also extended futures and options access in the UK and Europe, and launched stock margin trading for eligible users in US equities.
 

In wealth management, eToro's UK ISA assets under administration grew sevenfold between Q4 2024 and Q4 2025, while Australian savings product assets grew 44% between 2023 and 2025. The company also partnered with Generali to offer French users access to tax-advantaged retirement and life insurance products.

eToro Money, the company's neo-banking arm, ended 2025 with 1.87 million accounts, with transaction volume growing 6.5 times year-over-year following the roll-out of local bank accounts and a debit card across Europe.

In partnerships, eToro announced a multi-year agreement with BWT Alpine Formula 1 and entered into a deal with Gemini Space Station Inc to support migration of customers from the UK, Europe and Australia to the eToro platform.
 

The company's board has approved a $100 million increase to its existing share repurchase programme, which previously authorised $150 million, of which $100 million had been used. Following the increase, total remaining authorisation stands at $150 million. eToro also indicated it intends to enter into an Accelerated Share Repurchase agreement to repurchase approximately $50 million of its common shares under the new authorisation.
 

eToro is a trading and investing platform founded in 2007. It has 40 million registered users across 75 countries and offers access to traditional and alternative assets including equities, commodities, currencies and cryptoassets.
 

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