UP Fintech Holding Limited (NASDAQ: TIGR) (“UP Fintech” or the
“Company”), a leading online brokerage firm focusing on global
investors, today announced its unaudited financial results for the
first quarter ended March 31, 2023.
Mr. Wu Tianhua, Chairman and CEO of UP Fintech
stated: "We saw modest recovery in market activities in the first
quarter, while we keep diversify our revenue composition.
Commission income and interest related income both improved
compared to the prior quarter, total revenue reached US$66.3
million, an increase of 3.9% sequentially and a 26.0% year over
year. Thanks to our emphasis on cost and efficiency, we had a
strong turn in profitability in the first quarter. Our GAAP and
non-GAAP net income attributable to UP Fintech were US$8.0 million
and US$10.3 million, a substantial increase of 541% and 129%
compared to the prior quarter.
In the first quarter we added 30,392 funded
accounts, representing an 11.2% increase compared to the previous
quarter, and the total number of funded accounts at the end of the
first quarter reached 811,900. We saw nearly US$1.2 billion net
asset inflow this quarter, and total account balance increased
15.2% sequentially to US$16.1 billion. In addition, the average
customer acquisition cost (“CAC”) in the first quarter was US$171,
a significant improvement from US$271 in the previous quarter. This
indicates that our ongoing international expansion have been well
received by local investors in various regions and ROI remains at
an industry-leading level, gives us the flexibility to dynamically
adjust customer acquisition strategies in the future.
We continued to invest in research and
development to enhance operational efficiency and user experience.
In the first quarter, execution and clearing expenses as a
percentage of commissions decreased from 16.1% in the previous
quarter to 9.6%, as we started to self-cleared more Hong Kong
equities since February. In addition, we soft launched TigerGPT
recently for beta testing. This feature, first-of-its-kind
financial AI based on ChatGPT, allows users to quickly extract and
analyze investment-related data to help them with their investment
research, can also significantly reduce the learning curve for new
users.
Our corporate businesses continued to perform
well in the first quarter of 2023. During this period, we
underwrote a total of 8 U.S. and Hong Kong IPOs. In ESOP business,
we added 29 new clients in the first quarter, bringing the total
number of ESOP clients served to 448 as of March 31, 2023."
Financial Highlights for First Quarter 2023
- Total
revenues were US$66.3 million, an increase of 26.0%
year-over-year and an increase of 3.9% quarter-over-quarter.
- Total net
revenues were US$57.9 million, an increase of 18.3%
year-over-year and an increase of 2.2% quarter-over-quarter.
- Net income
attributable to ordinary shareholders of UP Fintech was
US$8.0 million compared to a net loss of US$5.9 million in the same
quarter of last year.
- Non-GAAP
net income attributable to ordinary shareholders of UP
Fintech was US$10.3 million, compared to a non-GAAP net
loss of US$1.9 million in the same quarter of last year. A
reconciliation of non-GAAP financial metrics to the most comparable
GAAP metrics is set forth below.
Operating Highlights for First Quarter 2023
- Total
account balance increased 6.0% year-over-year to US$16.1
billion.
- Total
margin financing and securities lending balance increased
32.4% year-over-year to US$2.2 billion.
- Total
number of customers with deposit increased 15.4%
year-over-year to 811,900.
Selected Operating Data for First Quarter
2023
|
|
As of and for the three months ended |
|
|
|
March 31, |
|
|
December 31, |
|
|
March 31, |
|
|
|
2022 |
|
|
2022 |
|
|
2023 |
|
In 000's |
|
|
|
|
|
|
|
|
|
Number of customer accounts |
|
|
1,896.2 |
|
|
|
2,008.0 |
|
|
|
2,060.5 |
|
Number of customers with
deposits |
|
|
703.5 |
|
|
|
781.5 |
|
|
|
811.9 |
|
Number of options and futures
contracts traded |
|
|
8,420.4 |
|
|
|
7,432.3 |
|
|
|
7,885.6 |
|
In USD
millions |
|
|
|
|
|
|
|
|
|
Trading volume |
|
|
91,016.9 |
|
|
|
68,541.9 |
|
|
|
67,044.1 |
|
Trading volume of stocks |
|
|
34,700.8 |
|
|
|
20,453.4 |
|
|
|
22,990.5 |
|
Total account balance |
|
|
15,210.3 |
|
|
|
14,005.3 |
|
|
|
16,128.5 |
|
First Quarter 2023 Financial Results
REVENUES
Total revenues were US$66.3 million, an increase
of 26.0% from US$52.6 million in the same quarter of last year.
Commissions were US$25.4 million, a decrease of
16.5% from US$30.5 million in the same quarter of last year, due to
a decrease in trading volume.
Financing service fees were US$2.9 million, an
increase of 82.1% from US$1.6 million in the same quarter of last
year, primarily due to increased interest rates.
Interest income was US$34.6 million, an increase
of 123.8% from US$15.5 million in the same quarter of last year,
primarily due to the increase in margin financing and securities
lending activities.
Other revenues were US$3.4 million, a decrease
of 32.9% from US$5.1 million in the same quarter of last year,
primarily due to the slowdown in currency exchange service.
Interest expense was US$8.4 million, an increase
of 130.3% from US$3.7 million in the same quarter of last year,
primarily due to increased interest rates.
OPERATING COSTS AND
EXPENSES
Total operating costs and expenses were US$45.9
million, a decrease of 16.4% from US$54.9 million in the same
quarter of last year.
Execution and clearing expenses were US$2.4
million, a decrease of 46.1% from US$4.5 million in the same
quarter of last year due to lower trading volume.
Employee compensation and benefits expenses were
US$24.4 million, a decrease of 11.2% from US$27.5 million in the
same quarter of last year, as we adjusted our headcount in response
to challenges arising from market backdrop.
Occupancy, depreciation and amortization
expenses were US$2.4 million, an increase of 18.8% from US$2.0
million in the same quarter of last year due to increase in
overseas office space and relevant leasehold improvements.
Communication and market data expenses were
US$7.0 million, an increase of 9.2% from US$6.4 million in the same
quarter of last year due to the increase of market data platforms
used.
Marketing and branding expenses were US$5.2
million, a decrease of 47.9% from US$10.0 million in the same
quarter of last year, as we slowed down marketing campaign due to
weaker market backdrop.
General and administrative expenses were US$4.5
million, a slight decrease of 1.0% from US$4.5 million in the same
quarter of last year.
NET INCOME/LOSS
ATTRIBUTABLE TO ORDINARY SHAREHOLDERS OF UP FINTECH
Net income attributable to ordinary shareholders
of UP Fintech was US$8.0 million, as compared to a net loss of
US$5.9 million in the same quarter of last year. Net income per ADS
– diluted was US$0.051, as compared to a net loss per ADS – diluted
of US$0.039 in the same quarter of last year.
Non-GAAP net income attributable to ordinary
shareholders of UP Fintech, which excludes share-based compensation
and impairment loss from long-term investments, was US$10.3
million, as compared to a US$1.9 million non-GAAP net loss
attributable to ordinary shareholders of UP Fintech in the same
quarter of last year. Non-GAAP net income per ADS – diluted was
US$0.066 as compared to a non-GAAP net loss per ADS – diluted of
US$0.013 in the same quarter of last year.
For the first quarter of 2023, the Company’s
weighted average number of ADSs used in calculating non-GAAP net
income per ADS – diluted was 160,315,847. As of March 31, 2023, the
Company had a total of 2,324,798,812 Class A and B ordinary shares
outstanding, or the equivalent of 154,986,587 ADSs.
CERTAIN OTHER FINANCIAL
ITEMS
As of March 31, 2023, the Company's cash and
cash equivalents and term deposits were US$228.8 million, compared
to US$278.6 million as of December 31, 2022.
As of March 31, 2023, the allowance balance of
receivables from customers was US$0.8 million compared to US$0.7
million as of December 31, 2022, which was due to an increase in
our user base and stock price fluctuation.
Conference Call Information:
UP Fintech’s management will hold an earnings
conference call at 8:00 AM on May 30, 2023, U.S. Eastern Time (8:00
PM on May 30, 2023 Singapore/Hong Kong Time).
All participants wishing to attend the call must
preregister online before they may receive the dial-in numbers.
Preregistration may require a few minutes to
complete.
Preregistration Information:
Please note that all participants will need to pre-register for
the conference call, using the link:
https://register.vevent.com/register/BI39b1e9859b3b4dfbb000d3240ef4cec7
It will automatically lead to the registration
page of "UP Fintech Holding Limited First Quarter 2023 Earnings
Conference Call", where details for RSVP are needed.
Upon registering, all participants will be
provided in confirmation emails with participant dial-in numbers
and personal PINs to access the conference call. Please dial in 10
minutes prior to the call start time using the conference access
information.
Additionally, a live and archived webcast of the
conference call will be available at
https://ir.itigerup.com
Use of Non-GAAP Financial
Measures
In evaluating our business, we consider and use
non-GAAP net loss or income attributable to ordinary shareholders
of UP Fintech and non-GAAP net loss or income per ADS - diluted as
supplemental measures to review and assess our operating
performance. The presentation of the non-GAAP financial measures is
not intended to be considered in isolation or as a substitute for
the financial information prepared and presented in accordance with
the United States Generally Accepted Accounting Principles (“U.S.
GAAP”). We define non-GAAP net loss or income attributable to
ordinary shareholders of UP Fintech as net loss or income
attributable to ordinary shareholders of UP Fintech excluding
share-based compensation and impairment loss from long-term
investments. Non-GAAP net loss or income per ADS - diluted is
non-GAAP net loss or income attributable to ordinary shareholders
of UP Fintech divided by the weighted average number of diluted
ADSs.
We present these non-GAAP financial measures
because they are used by our management to evaluate our operating
performance and formulate business plans. Non-GAAP net loss or
income attributable to ordinary shareholders of UP Fintech enables
our management to assess our operating results without considering
the impact of share-based compensation and impairment loss from
long-term investments. We also believe that the use of these
non-GAAP financial measures facilitates investors' assessment of
our operating performance.
These non-GAAP financial measures are not
defined under U.S. GAAP and are not presented in accordance with
U.S. GAAP. These non-GAAP financial measures have limitations as an
analytical tool. One of the key limitations of using these non-GAAP
financial measures is that they do not reflect all items of income
and expenses that affect our operations. Share-based compensation
and impairment loss from long-term investments have been and may
continue to be incurred in our business and are not reflected in
the presentation of non-GAAP net loss or income attributable to
ordinary shareholders of UP Fintech. Further, these non-GAAP
financial measures may differ from the non-GAAP financial
information used by other companies, including peer companies, and
therefore their comparability may be limited.
These non-GAAP financial measures should not be
considered in isolation or construed as alternatives to total
operating expenses, net loss or income attributable to ordinary
shareholders of UP Fintech or any other measure of performance or
as an indicator of our operating performance. Investors are
encouraged to review these historical non-GAAP financial measures
in light of the most directly comparable GAAP measures. These
non-GAAP financial measures presented here may not be comparable to
similarly titled measures presented by other companies. Other
companies may calculate similarly titled measures differently,
limiting the usefulness of such measures when analyzing our data
comparatively. We encourage investors and others to review our
financial information in its entirety and not rely on a single
financial measure.
About UP Fintech Holding
Limited
UP Fintech Holding Limited is a leading online
brokerage firm focusing on global investors. The Company’s
proprietary mobile and online trading platform enables investors to
trade in equities and other financial instruments on multiple
exchanges around the world. The Company offers innovative products
and services as well as a superior user experience to customers
through its “mobile first” strategy, which enables it to better
serve and retain current customers as well as attract new ones. The
Company offers customers comprehensive brokerage and value-added
services, including trade order placement and execution, margin
financing, IPO subscription, ESOP management, investor education,
community discussion and customer support. The Company’s
proprietary infrastructure and advanced technology are able to
support trades across multiple currencies, multiple markets,
multiple products, multiple execution venues and multiple
clearinghouses.
For more information on the Company, please
visit: https://ir.itigerup.com.
Safe Harbor Statement
This announcement contains forward−looking
statements. These statements are made under the “safe harbor”
provisions of the U.S. Private Securities Litigation Reform Act of
1995. These forward−looking statements can be identified by
terminology such as “may,” “might,” “aim,” “likely to,” “will,”
“expects,” “anticipates,” “future,” “intends,” “plans,” “believes,”
“estimates” and similar statements or expressions. Among other
statements, the business outlook and quotations from management in
this announcement, the Company’s strategic and operational plans
and expectations regarding growth and expansion of its business
lines, and the Company’s plans for future financing of its business
contain forward-looking statements. The Company may also make
written or oral forward-looking statements in its periodic reports
to the U.S. Securities and Exchange Commission (“SEC”) on Forms
20−F and 6−K, in its annual report to shareholders, in press
releases and other written materials and in oral statements made by
its officers, directors or employees to third parties, including
the earnings conference call. Statements that are not historical
facts, including statements about the Company’s beliefs and
expectations, are forward−looking statements. Forward−looking
statements involve inherent risks and uncertainties. A number of
factors could cause actual results to differ materially from those
contained in any forward-looking statement, including but not
limited to the following: the cooperation with Interactive Brokers
LLC and Xiaomi Corporation and its affiliates; the Company’s
ability to effectively implement its growth strategies; trends and
competition in global financial markets; changes in the Company’s
revenues and certain cost or expense accounting policies; the
effects of the global COVID-19 pandemic; and governmental policies
and regulations affecting the Company’s industry and general
economic conditions in China, Singapore and other countries.
Further information regarding these and other risks is included in
the Company’s filings with the SEC, including the Company’s annual
report on Form 20-F filed with the SEC on April 26, 2023. All
information provided in this press release and in the attachments
is as of the date of this press release, and the Company undertakes
no obligation to update any forward-looking statement, except as
required under applicable law. Further information regarding these
and other risks is included in the Company’s filings with the
SEC.
For investor and media inquiries please
contact:
Investor Relations Contact
UP Fintech Holding Limited
Email: ir@itiger.com
UP FINTECH HOLDING
LIMITEDUNAUDITED CONDENSED CONSOLIDATED BALANCE
SHEETS(All amounts in U.S. dollars
("US$"))
|
|
As ofDecember 31, |
|
|
As ofMarch31, |
|
|
|
2022 |
|
|
2023 |
|
|
|
US$ |
|
|
US$ |
|
Assets: |
|
|
|
|
|
|
Cash and cash equivalents |
|
|
277,660,847 |
|
|
|
227,835,442 |
|
Cash-segregated for regulatory purpose |
|
|
1,678,067,682 |
|
|
|
1,623,366,552 |
|
Term deposits |
|
|
945,533 |
|
|
|
943,931 |
|
Receivables from customers (net of allowance of US$696,508
andUS$790,596 as of December 31, 2022 and March 31, 2023) |
|
|
644,691,190 |
|
|
|
772,759,789 |
|
Receivables from brokers, dealers, and clearing organizations |
|
|
956,945,581 |
|
|
|
864,896,702 |
|
Financial instruments held, at fair value |
|
|
162,535,184 |
|
|
|
281,555,119 |
|
Prepaid expenses and other current assets |
|
|
12,963,375 |
|
|
|
11,147,139 |
|
Amounts due from related parties |
|
|
4,769,475 |
|
|
|
4,530,891 |
|
Total current
assets |
|
|
3,738,578,867 |
|
|
|
3,787,035,565 |
|
Non-current
assets: |
|
|
|
|
|
|
Right-of-use assets |
|
|
13,960,092 |
|
|
|
12,666,627 |
|
Property, equipment and intangible assets, net |
|
|
16,504,065 |
|
|
|
17,179,882 |
|
Goodwill |
|
|
2,492,668 |
|
|
|
2,492,668 |
|
Long-term investments |
|
|
7,928,499 |
|
|
|
7,940,122 |
|
Other non-current assets |
|
|
4,773,925 |
|
|
|
4,864,215 |
|
Deferred tax assets |
|
|
13,122,272 |
|
|
|
11,995,340 |
|
Total non-current
assets |
|
|
58,781,521 |
|
|
|
57,138,854 |
|
Total
assets |
|
|
3,797,360,388 |
|
|
|
3,844,174,419 |
|
Current
liabilities: |
|
|
|
|
|
|
Payables to customers |
|
|
2,996,405,447 |
|
|
|
2,811,287,931 |
|
Payables to brokers, dealers and clearing organizations |
|
|
138,620,746 |
|
|
|
359,148,975 |
|
Accrued expenses and other current liabilities |
|
|
37,777,749 |
|
|
|
39,393,250 |
|
Deferred income – current |
|
|
1,800,298 |
|
|
|
1,731,350 |
|
Lease liabilities – current |
|
|
5,490,079 |
|
|
|
5,432,997 |
|
Amounts due to related parties |
|
|
461,704 |
|
|
|
111,294 |
|
Total current
liabilities |
|
|
3,180,556,023 |
|
|
|
3,217,105,797 |
|
Convertible bonds |
|
|
154,337,483 |
|
|
|
154,960,800 |
|
Deferred income – non-current |
|
|
388,423 |
|
|
|
— |
|
Lease liabilities – non-current |
|
|
8,390,077 |
|
|
|
7,025,258 |
|
Deferred tax liabilities |
|
|
2,059,748 |
|
|
|
2,587,728 |
|
Total
liabilities |
|
|
3,345,731,754 |
|
|
|
3,381,679,583 |
|
Mezzanine
equity |
|
|
|
|
|
|
Subscriptions receivable from redeemable non-controlling
interests |
|
|
(43,496 |
) |
|
|
— |
|
Redeemable non-controlling interest |
|
|
4,685,238 |
|
|
|
4,817,947 |
|
Total Mezzanine
equity |
|
|
4,641,742 |
|
|
|
4,817,947 |
|
Shareholders’
equity: |
|
|
|
|
|
|
Class A ordinary shares |
|
|
22,213 |
|
|
|
22,271 |
|
Class B ordinary shares |
|
|
976 |
|
|
|
976 |
|
Additional paid-in capital |
|
|
495,705,684 |
|
|
|
497,992,290 |
|
Statutory reserve |
|
|
6,171,627 |
|
|
|
6,171,627 |
|
Accumulated deficit |
|
|
(50,366,734 |
) |
|
|
(42,296,016 |
) |
Treasury Stock |
|
|
(2,172,819 |
) |
|
|
(2,172,819 |
) |
Accumulated other comprehensive loss |
|
|
(2,231,411 |
) |
|
|
(1,842,457 |
) |
Total UP Fintech
shareholders' equity |
|
|
447,129,536 |
|
|
|
457,875,872 |
|
Non-controlling interests |
|
|
(142,644 |
) |
|
|
(198,983 |
) |
Total
equity |
|
|
446,986,892 |
|
|
|
457,676,889 |
|
Total liabilities,
mezzanine equity and equity |
|
|
3,797,360,388 |
|
|
|
3,844,174,419 |
|
UP FINTECH HOLDING LIMITED |
|
UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF
COMPREHENSIVE INCOME/(LOSS) |
|
(All amounts in U.S. dollars ("US$"), except for number of
shares (or ADSs) and per share (or ADS) data) |
|
|
|
For the three months ended |
|
|
|
March31, |
|
|
December 31, |
|
|
March 31, |
|
|
|
2022 |
|
|
2022 |
|
|
2023 |
|
|
|
US$ |
|
|
US$ |
|
|
US$ |
|
Revenues(a): |
|
|
|
|
|
|
|
|
|
Commissions |
|
|
30,470,318 |
|
|
|
24,929,536 |
|
|
|
25,438,506 |
|
Interest related income |
|
|
|
|
|
|
|
|
|
Financing service fees |
|
|
1,566,458 |
|
|
|
2,682,657 |
|
|
|
2,852,583 |
|
Interest income |
|
|
15,456,486 |
|
|
|
30,442,796 |
|
|
|
34,587,516 |
|
Other revenues |
|
|
5,135,441 |
|
|
|
5,799,368 |
|
|
|
3,447,071 |
|
Total
revenues |
|
|
52,628,703 |
|
|
|
63,854,357 |
|
|
|
66,325,676 |
|
Interest expense(a) |
|
|
(3,650,690 |
) |
|
|
(7,187,936 |
) |
|
|
(8,407,961 |
) |
Total Net
Revenues |
|
|
48,978,013 |
|
|
|
56,666,421 |
|
|
|
57,917,715 |
|
Operating costs and
expenses: |
|
|
|
|
|
|
|
|
|
Execution and clearing(a) |
|
|
(4,508,760 |
) |
|
|
(4,021,314 |
) |
|
|
(2,431,835 |
) |
Employee compensation and benefits |
|
|
(27,475,391 |
) |
|
|
(24,479,754 |
) |
|
|
(24,406,288 |
) |
Occupancy, depreciation and amortization |
|
|
(2,047,168 |
) |
|
|
(2,021,735 |
) |
|
|
(2,432,786 |
) |
Communication and market data(a) |
|
|
(6,369,107 |
) |
|
|
(7,062,603 |
) |
|
|
(6,956,631 |
) |
Marketing and branding |
|
|
(9,956,833 |
) |
|
|
(7,401,281 |
) |
|
|
(5,184,197 |
) |
General and administrative |
|
|
(4,547,384 |
) |
|
|
(5,930,497 |
) |
|
|
(4,500,720 |
) |
Total operating costs and
expenses |
|
|
(54,904,643 |
) |
|
|
(50,917,184 |
) |
|
|
(45,912,457 |
) |
Other income
(expense): |
|
|
|
|
|
|
|
|
|
Others, net |
|
|
(425,643 |
) |
|
|
(2,122,058 |
) |
|
|
331,666 |
|
Income (loss) before
income tax |
|
|
(6,352,273 |
) |
|
|
3,627,179 |
|
|
|
12,336,924 |
|
Income tax benefits (expenses) |
|
|
473,690 |
|
|
|
(2,378,919 |
) |
|
|
(4,317,220 |
) |
Net income
(loss) |
|
|
(5,878,583 |
) |
|
|
1,248,260 |
|
|
|
8,019,704 |
|
Less: net loss attributable to non-controlling interests |
|
|
— |
|
|
|
(53,236 |
) |
|
|
(51,014 |
) |
Accretion of redeemable non-controlling interests to redemption
value |
|
|
— |
|
|
|
(58,776 |
) |
|
|
(107,285 |
) |
Net income (loss)
attributable to ordinary shareholders of UP Fintech |
|
|
(5,878,583 |
) |
|
|
1,242,720 |
|
|
|
7,963,433 |
|
Other comprehensive
income (loss), net of tax: |
|
|
|
|
|
|
|
|
|
Unrealized loss on available-for-sale investments |
|
|
(265,687 |
) |
|
|
(502,903 |
) |
|
|
— |
|
Changes in cumulative foreign currency translation adjustment |
|
|
993,440 |
|
|
|
3,470,152 |
|
|
|
388,546 |
|
Total Comprehensive
income (loss) |
|
|
(5,150,830 |
) |
|
|
4,215,509 |
|
|
|
8,408,250 |
|
Less: comprehensive loss attributable to non-controlling
interests |
|
|
— |
|
|
|
(57,597 |
) |
|
|
(51,422 |
) |
Accretion of redeemable non-controlling interests to redemption
value |
|
|
— |
|
|
|
(58,776 |
) |
|
|
(107,285 |
) |
Total Comprehensive
income (loss) attributable to ordinary shareholders
of Up Fintech |
|
|
(5,150,830 |
) |
|
|
4,214,330 |
|
|
|
8,352,387 |
|
Net income (loss) per
ordinary share: |
|
|
|
|
|
|
|
|
|
Basic |
|
|
(0.003 |
) |
|
|
0.001 |
|
|
|
0.003 |
|
Diluted |
|
|
(0.003 |
) |
|
|
0.001 |
|
|
|
0.003 |
|
Net income (loss) per ADS
(1 ADS represents 15 Class A ordinary shares): |
|
|
|
|
|
|
|
|
|
Basic |
|
|
(0.039 |
) |
|
|
0.008 |
|
|
|
0.052 |
|
Diluted |
|
|
(0.039 |
) |
|
|
0.008 |
|
|
|
0.051 |
|
Weighted average number
of ordinary shares used in calculating net
loss per ordinary share: |
|
|
|
|
|
|
|
|
|
Basic |
|
|
2,279,261,602 |
|
|
|
2,303,576,341 |
|
|
|
2,312,971,270 |
|
Diluted |
|
|
2,279,261,602 |
|
|
|
2,330,738,240 |
|
|
|
2,404,737,701 |
|
(a) Includes the following revenues, costs and expenses
resulting from transactions with related parties as follow:
|
|
For the three months ended |
|
|
|
March 31, |
|
|
December 31, |
|
|
March 31, |
|
|
|
2022 |
|
|
2022 |
|
|
2023 |
|
|
|
US$ |
|
|
US$ |
|
|
US$ |
|
Revenues: |
|
|
|
|
|
|
|
|
|
Commissions |
|
|
3,986,037 |
|
|
|
9,582 |
|
|
|
1,197 |
|
Interest related income |
|
|
|
|
|
|
|
|
|
Financing service fees |
|
|
1,329,490 |
|
|
|
— |
|
|
|
— |
|
Interest income |
|
|
4,692,011 |
|
|
|
36,439 |
|
|
|
40,612 |
|
Other revenues |
|
|
1,805,126 |
|
|
|
— |
|
|
|
— |
|
Interest expense |
|
|
(2,056,556 |
) |
|
|
— |
|
|
|
— |
|
Execution and clearing |
|
|
(1,751,505 |
) |
|
|
— |
|
|
|
— |
|
Communication and market
data |
|
|
(25,000 |
) |
|
|
(34,650 |
) |
|
|
(34,650 |
) |
Reconciliations of Unaudited Non-GAAP
Results of Operations Measures to the Nearest Comparable GAAP
Measures(All amounts in U.S. dollars ("US$"),
except for number of ADSs and per ADS data)
|
For the three months ended March
31,2022 |
|
|
For the three months ended December
31,2022 |
|
|
For the three months ended March
31,2023 |
|
|
|
|
|
non-GAAP |
|
|
|
|
|
|
|
|
non-GAAP |
|
|
|
|
|
|
|
non-GAAP |
|
|
|
|
|
GAAP |
|
|
Adjustment |
|
|
non-GAAP |
|
|
GAAP |
|
|
Adjustment |
|
|
non-GAAP |
|
|
GAAP |
|
Adjustment |
|
|
non-GAAP |
|
|
US$ |
|
|
US$ |
|
|
US$ |
|
|
US$ |
|
|
US$ |
|
|
US$ |
|
|
US$ |
|
US$ |
|
|
US$ |
|
|
Unaudited |
|
|
Unaudited |
|
|
Unaudited |
|
|
Unaudited |
|
|
Unaudited |
|
|
Unaudited |
|
|
Unaudited |
|
Unaudited |
|
|
Unaudited |
|
|
|
|
|
3,459,283 |
|
(1) |
|
|
|
|
|
|
3,101,266 |
|
(1) |
|
|
|
|
|
2,363,930 |
|
(1) |
|
|
|
|
|
|
472,605 |
|
(2) |
|
|
|
|
|
|
175,000 |
|
(2) |
|
|
|
|
|
— |
|
(2) |
|
|
Net income (loss)
attributable to ordinary shareholders
of UP Fintech |
(5,878,583 |
) |
|
3,931,888 |
|
|
(1,946,695 |
) |
|
1,242,720 |
|
|
3,276,266 |
|
|
4,518,986 |
|
|
7,963,433 |
|
2,363,930 |
|
|
10,327,363 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Net income (loss) per ADS
- diluted |
(0.039 |
) |
|
|
|
|
(0.013 |
) |
|
0.008 |
|
|
|
|
|
0.029 |
|
|
0.051 |
|
|
|
|
0.066 |
|
Weighted average number of
ADSs used in calculating diluted net income (loss) per ADS |
151,950,773 |
|
|
|
|
|
151,950,773 |
|
|
155,382,549 |
|
|
|
|
|
155,382,549 |
|
|
160,315,847 |
|
|
|
|
160,315,847 |
|
(1) Share-based compensation.(2) Impairment loss from long-term
investments.
UP Fintech (NASDAQ:TIGR)
過去 株価チャート
から 4 2024 まで 5 2024
UP Fintech (NASDAQ:TIGR)
過去 株価チャート
から 5 2023 まで 5 2024