UP Fintech Holding Limited (NASDAQ: TIGR) (“UP Fintech” or the
“Company”), a leading online brokerage firm focusing on global
Chinese investors, today announced its unaudited financial results
for the second quarter ended June 30, 2020.
“We are happy to report strong growth in the
second quarter of 2020,” stated Mr. Wu Tianhua, CEO and Director of
UP Fintech. “Total revenues were US$30.1 million, a 121.8% increase
from the second quarter of 2019. Our platform is continuing to
attract new users as we continue to invest in expanding its
capabilities; the number of accounts with deposits increased by
approximately 33,800 this quarter, the highest quarterly growth in
our operating history, and total accounts with deposits increased
76.7% on a year over year basis. Clients continued to entrust us
with more assets; total client account balance as of June 30, 2020,
rose 132.9% year-over-year to US$8.3 billion.”
In addition to our core brokerage business,
other business units also performed well. We saw good momentum in
the U.S. and Singapore in terms of user acquisition, and we
gradually started to use Marsco Investment Corporation to
self-clear. In the second quarter, we participated in eight U.S.
IPOs and were an underwriter for NetEase’s Hong Kong IPO,
maintaining our leadership position as the top underwriter for
China based issuers by deal count. Our ESOP management business
also continues to grow rapidly. We added 16 new clients this
quarter and now we can provide a comprehensive solution to handle
clients whose plans span multiple regions and entities. We believe
our excellent system and outstanding service capacity will continue
to attract potential clients to choose us as a long-term ESOP
partner.
The Company commenced its share repurchase
program on April 1, 2020 and between that day and the end of August
17, 2020, the company repurchased 695,287 ADS for an approximate
consideration of US$2.2 million.
Financial Highlights for Second Quarter
2020
- Total revenues increased 121.8% year-over-year
to US$30.1 million.
- Total net revenues increased 124.6%
year-over-year to US$28.2 million.
- Operating income increased to US$5.1 million
from negative US$2.6 million in the same quarter of last year.
- Non-GAAP operating income increased to US$6.8
million from negative US$1.5 million in the same quarter of last
year.
- Net income increased to US$2.6 million from
negative US$2.0 million in the same quarter of last year.
- Net income attributable to UP Fintech
increased to US$1.1 million from negative US$1.9 million in the
same quarter of last year.
- Non-GAAP net income attributable to UP Fintech
increased to US$2.8 million, from negative US$0.8 million in the
same quarter of last year.
Operating Highlights
for Second Quarter 2020
- Total account balance increased 132.9%
year-over-year to US$8.3 billion.
- Total margin financing and securities lending
balance increased 20.4% year-over-year to US$1,227.3
million.
- Total number of customers with deposits
increased 76.7% year-over-year to 167.8 thousand.
Selected Operating Data for Second Quarter
2020
|
As of and for the three months ended |
|
|
June 30, |
|
March 31, |
|
June 30, |
|
2019 |
|
2020 |
|
2020 |
In 000's |
|
|
|
|
|
Number of customer accounts |
576.9 |
|
743.3 |
|
833.9 |
Number of customers with deposits |
95.0 |
|
134.1 |
|
167.8 |
|
|
|
|
|
|
In USD millions |
|
|
|
|
|
Trading volume |
24,370.0 |
|
44,109.9 |
|
46,755.7 |
Total account balance |
3,557.1 |
|
5,493.9 |
|
8,283.1 |
Second Quarter 2020 Financial
Results
REVENUES
Total revenues were US$30.1 million, up 121.8%
from US$13.6 million in the same quarter of last year.
Commissions were US$18.8 million, up 178.2% from
US$6.8 million in the same quarter of last year, driven by an
increase in our user base and market activities.
Financing service fees were US$1.7 million, down
10.9% from US$1.9 million in the same quarter of last year,
primarily due to a shift in the number of fully disclosed accounts
versus consolidated accounts, which generate interest income.
Interest income was US$7.1 million, up 116.2%
from US$3.3 million in same period of last year. This was primarily
due to the increased number of consolidated account customers and
higher margin and securities lending balance compared to the same
quarter of last year.
Other revenues were US$2.5 million, up 54.1%
from US$1.6 million in the same quarter of last year, primarily due
to higher revenue from IPO distribution services.
Interest expense was US$1.9 million, an increase
of 87.7% from US$1.0 million in the same quarter of last year, in
line with the increase in interest income.
OPERATING COSTS AND EXPENSES
Total operating costs and expenses were US$23.1
million, an increase of 52.4% from US$15.1 million in the same
quarter of last year.
Execution and clearing expenses were US$2.9
million, an increase of 391.6% from US$0.6 million in the same
quarter of last year, due to an increase in the number of
consolidated accounts as well as an increase in trading volume.
Employee compensation and benefits expenses were
US$11.3 million, an increase of 39.0% from US$8.1 million in the
same quarter of last year. This increase was primarily due to the
headcount increase of 33.9% compared to the second quarter of last
year.
Occupancy, depreciation, and amortization
expenses were US$1.1 million, an increase of 41.9% from US$0.8
million in the same quarter last year, due to the increase in
overseas office space and relevant leasehold improvements.
Communication and market data expenses were
US$2.1 million, an increase of 21.1% from US$1.7 million in the
same quarter last year, due to rapid user growth and expanded
market data usage.
Marketing and branding expenses were US$2.9
million, an increase of 47.7% from US$2.0 million in the same
quarter last year, in line with higher user growth this
quarter.
General and administrative expenses were US$2.8
million, an increase of 43.2% from US$1.9 million in the same
quarter last year, primarily due to increased professional services
expenses resulting from business expansion.
OPERATING INCOME/LOSS AND NET
INCOME/LOSS ATTRIBUTABLE TO UP FINTECH HOLDING LIMITED
Operating income was US$5.1 million, as compared
to an operating loss of US$2.6 million in the same quarter of last
year. Non-GAAP operating income was US$6.8 million, as compared to
a non-GAAP operating loss of US$1.5 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.
Net income attributable to UP Fintech was US$1.1
million, as compared to a net loss of US$1.9 million in the same
quarter of last year. Net income per ADS – diluted was
US$0.008, as compared to a net loss per ADS – diluted of
US$0.014 in the same quarter of last year.
Non-GAAP net income attributable to UP Fintech,
which excludes share-based compensation, was US$2.8 million, as
compared to a US$0.8 million non-GAAP net loss attributable to UP
Fintech in the same quarter of last year. Non-GAAP net income per
ADS – diluted was US$0.020, as compared to a non-GAAP net loss per
ADS – diluted of US$0.006 in the same quarter of last
year.
For the second quarter of 2020, the Company’s
weighted average number of ADSs used in calculating diluted net
income per ADS, was 142,783,496. As of June 30, 2020, the Company
had a total of 2,114,164,861 Class A and B ordinary shares
outstanding, or the equivalent of 140,944,324 ADSs.
CERTAIN BALANCE SHEET ITEMS
As of June 30, 2020, the Company's cash and cash
equivalents and term deposits were US$93.0 million, compared to
US$125.0 million as of December 31, 2019.
Conference Call Information
UP Fintech’s management will hold an earnings conference call at
8:00 AM on August 18, 2020, U.S. Eastern Time (8:00 PM on August
18, 2020 Beijing/Hong Kong Time).
Participants may register for the conference call by navigating
to http://apac.directeventreg.com/registration/event/4999749 .
Once preregistration has been completed, participants will receive
dial-in numbers, direct event passcode, and registrant ID. The
conference ID is: 4999749. To join the conference, simply dial the
number in the calendar invite you receive after preregistering,
enter the passcode followed by your PIN, and you will join the
conference instantly.
A telephone replay of the call will be available
after the conclusion of the conference call through August 25,
2020.
Dial-in numbers for the replay are as
follows:
International: |
+61-2-8199-0299 |
Passcode: |
4999749 |
A live and archived webcast of the conference
call will be available at https://ir.itiger.com.
Use of non-GAAP Financial Measures
In evaluating our business, we consider and use
non-GAAP operating income or loss, non-GAAP net loss or income
attributable to UP Fintech Holding Limited 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 (“GAAP”). We define non-GAAP
operating income or loss as total net revenue minus total operating
costs and expenses, plus share-based compensation. Non-GAAP net
loss or income attributable to UP Fintech Holding Limited is GAAP
net loss or income attributable to UP Fintech Holding Limited
excluding share-based compensation. Non-GAAP net loss or income per
ADS - diluted is non-GAAP net loss or income attributable to UP
Fintech Holding Limited divided by 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 UP Fintech Holding Limited enables our
management to assess our operating results without considering the
impact of share-based compensation. 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 GAAP and are not presented in accordance with 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 has
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 UP Fintech Holding Limited. 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 attributable to UP Fintech Holding
Limited 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 Chinese 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.itiger.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, as well as the Company’s strategic and
operational plans, 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. 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 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 relating to the Company’s industry and general economic
conditions in China and other countries. Further information
regarding these and other risks is included in the Company’s
filings with the SEC. 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 ContactClark S. SoucyUP
Fintech Holding LimitedEmail: ir@itiger.com
UP FINTECH HOLDING LIMITED |
|
UNAUDITED CONDENSED CONSOLIDATED BALANCE
SHEETS |
|
(All amounts in U.S. dollars ("US$")) |
|
|
|
|
As of December 31, |
|
As of June
30, |
|
2019 |
2020 |
|
|
US$ |
|
US$ |
|
Assets: |
|
|
|
|
Cash and cash equivalents |
59,408,555 |
|
|
66,154,699 |
|
|
Cash-segregated for regulatory purpose |
317,915,092 |
|
|
445,544,425 |
|
|
Term deposits |
65,601,207 |
|
|
26,857,267 |
|
|
Receivables from customers (net of allowance of nil and US$213,631
as of December 31, 2019 and June 30, 2020) |
106,113,896 |
|
|
371,315,913 |
|
|
Receivables from brokers, dealers, and clearing organizations: |
|
|
- |
|
|
Related party |
185,047,211 |
|
|
214,224,350 |
|
|
Others |
9,274,205 |
|
|
17,066,455 |
|
|
Financial instruments held, at fair value |
14,881,240 |
|
|
18,819,793 |
|
|
Prepaid expenses and other current assets |
8,020,192 |
|
|
4,638,337 |
|
|
Amounts due from related parties |
3,484,434 |
|
|
3,614,079 |
|
|
Total current
assets |
769,746,032 |
|
|
1,168,235,318 |
|
|
Non-current
assets: |
|
|
|
|
Right-of-use assets |
5,732,559 |
|
|
7,205,500 |
|
|
Property, equipment and intangible assets, net |
9,535,541 |
|
|
9,352,275 |
|
|
Goodwill |
2,421,403 |
|
|
2,421,403 |
|
|
Long-term investments |
6,017,219 |
|
|
6,466,493 |
|
|
Other non-current assets |
3,045,732 |
|
|
4,335,668 |
|
|
Deferred tax assets |
12,561,461 |
|
|
9,643,495 |
|
|
Total non-current
assets |
39,313,915 |
|
|
39,424,834 |
|
|
Total
assets |
809,059,947 |
|
|
1,207,660,152 |
|
|
Current
liabilities: |
|
|
|
|
Payables to customers |
512,481,679 |
|
|
757,791,636 |
|
|
Payables to brokers, dealers and clearing organizations: |
|
|
|
|
Related party |
53,774,882 |
|
|
114,585,222 |
|
|
Others |
1,355,112 |
|
|
83,319,593 |
|
|
Accrued expenses and other current liabilities |
16,881,957 |
|
|
19,044,845 |
|
|
Deferred income-current |
697,330 |
|
|
634,453 |
|
|
Lease liabilities-current |
2,401,566 |
|
|
2,759,417 |
|
|
Total current
liabilities |
587,592,526 |
|
|
978,135,166 |
|
|
Deferred income-non-current |
1,552,595 |
|
|
1,251,088 |
|
|
Lease liabilities- non-current |
3,440,092 |
|
|
4,405,316 |
|
|
Deferred tax liabilities |
1,449,000 |
|
|
1,449,000 |
|
|
Total
liabilities |
594,034,213 |
|
|
985,240,570 |
|
|
Mezzanine
equity: |
|
|
|
|
Redeemable non-controlling interest of sponsored fund |
3,084,122 |
|
|
7,350,720 |
|
|
Total Mezzanine equity |
3,084,122 |
|
|
7,350,720 |
|
|
Shareholders’
equity: |
|
|
|
|
Class A ordinary shares |
17,772 |
|
|
17,870 |
|
|
Class B ordinary shares |
3,376 |
|
|
3,376 |
|
|
Additional paid-in capital |
285,767,622 |
|
|
288,724,078 |
|
|
Statutory reserve |
724,008 |
|
|
724,008 |
|
|
Accumulated deficit |
(73,704,745 |
) |
|
(69,581,932 |
) |
|
Treasury Stock |
- |
|
|
(2,172,819 |
) |
|
Accumulated other comprehensive loss |
(866,421 |
) |
|
(2,645,719 |
) |
|
Total
equity |
211,941,612 |
|
|
215,068,862 |
|
|
Total liabilities,
mezzanine equity and equity |
809,059,947 |
|
|
1,207,660,152 |
|
|
|
|
|
|
|
|
|
UP FINTECH HOLDING LIMITED |
UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF
COMPREHENSIVE (LOSS)/INCOME |
(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 |
|
For the six
months ended |
|
June
30, |
|
March 31, |
|
June 30, |
|
June 30, |
|
June 30, |
|
2019 |
|
2020 |
|
2020 |
|
2019 |
|
2020 |
|
US$ |
|
US$ |
|
US$ |
|
US$ |
|
US$ |
Revenues: |
|
|
|
|
|
|
|
|
|
Commissions |
6,772,071 |
|
|
14,272,955 |
|
|
18,839,234 |
|
|
13,126,916 |
|
|
33,112,189 |
|
Interest related income |
|
|
|
|
|
|
|
|
|
Financing service fees |
1,911,404 |
|
|
1,636,196 |
|
|
1,702,733 |
|
|
3,997,534 |
|
|
3,338,929 |
|
Interest income |
3,264,692 |
|
|
4,773,047 |
|
|
7,057,303 |
|
|
3,978,608 |
|
|
11,830,350 |
|
Other revenues |
1,620,762 |
|
|
2,505,638 |
|
|
2,497,323 |
|
|
2,261,100 |
|
|
5,002,961 |
|
Total
revenues |
13,568,929 |
|
|
23,187,836 |
|
|
30,096,593 |
|
|
23,364,158 |
|
|
53,284,429 |
|
Interest expense |
(1,015,470 |
) |
|
(954,215 |
) |
|
(1,905,671 |
) |
|
(1,224,191 |
) |
|
(2,859,886 |
) |
Total Net Revenues |
12,553,459 |
|
|
22,233,621 |
|
|
28,190,922 |
|
|
22,139,967 |
|
|
50,424,543 |
|
Operating costs and
expenses: |
|
|
|
|
|
|
|
|
|
Execution and clearing |
(587,927 |
) |
|
(1,824,627 |
) |
|
(2,890,349 |
) |
|
(880,407 |
) |
|
(4,714,976 |
) |
Employee compensation and benefits |
(8,146,485 |
) |
|
(10,458,234 |
) |
|
(11,324,133 |
) |
|
(15,963,656 |
) |
|
(21,782,367 |
) |
Occupancy, depreciation and amortization |
(784,006 |
) |
|
(1,160,614 |
) |
|
(1,112,339 |
) |
|
(1,381,483 |
) |
|
(2,272,953 |
) |
Communication and market data |
(1,742,592 |
) |
|
(1,829,752 |
) |
|
(2,109,820 |
) |
|
(2,933,982 |
) |
|
(3,939,572 |
) |
Marketing and branding |
(1,954,115 |
) |
|
(2,764,839 |
) |
|
(2,885,653 |
) |
|
(3,866,622 |
) |
|
(5,650,492 |
) |
General and administrative |
(1,928,528 |
) |
|
(2,291,616 |
) |
|
(2,761,370 |
) |
|
(4,119,629 |
) |
|
(5,052,986 |
) |
Total operating costs
and expenses |
(15,143,653 |
) |
|
(20,329,682 |
) |
|
(23,083,664 |
) |
|
(29,145,779 |
) |
|
(43,413,346 |
) |
Other
income/(expense): |
|
|
|
|
|
|
|
|
|
Others, net |
3,048 |
|
|
2,780,680 |
|
|
(123,254 |
) |
|
989,864 |
|
|
2,657,426 |
|
(Loss)/income before
income tax |
(2,587,146 |
) |
|
4,684,619 |
|
|
4,984,004 |
|
|
(6,015,948 |
) |
|
9,668,623 |
|
Income tax benefits/(expenses) |
627,347 |
|
|
(1,957,732 |
) |
|
(2,419,481 |
) |
|
1,710,660 |
|
|
(4,377,213 |
) |
Net
(loss)/income |
(1,959,799 |
) |
|
2,726,887 |
|
|
2,564,523 |
|
|
(4,305,288 |
) |
|
5,291,410 |
|
Less: |
|
|
|
|
|
|
|
|
|
Net (loss)/income attributable to redeemable non-controlling
interests |
(81,348 |
) |
|
(305,715 |
) |
|
1,474,312 |
|
|
447,436 |
|
|
1,168,597 |
|
Net (loss)/income
attributable to UP Fintech Holding Limited |
(1,878,451 |
) |
|
3,032,602 |
|
|
1,090,211 |
|
|
(4,752,724 |
) |
|
4,122,813 |
|
|
|
|
|
|
|
|
|
|
|
Other comprehensive
(loss)/ income, net of tax: |
|
|
|
|
|
|
|
|
|
Changes in cumulative foreign currency translation adjustment |
(264,125 |
) |
|
(3,721,163 |
) |
|
1,941,865 |
|
|
(77,015 |
) |
|
(1,779,298 |
) |
Total Comprehensive
(loss)/income |
(2,223,924 |
) |
|
(994,276 |
) |
|
4,506,388 |
|
|
(4,382,303 |
) |
|
3,512,112 |
|
|
|
|
|
|
|
|
|
|
|
Net (loss)/income per
ordinary share: |
|
|
|
|
|
|
|
|
|
Basic |
(0.001 |
) |
|
0.001 |
|
|
0.001 |
|
|
(0.003 |
) |
|
0.002 |
|
Diluted |
(0.001 |
) |
|
0.001 |
|
|
0.001 |
|
|
(0.003 |
) |
|
0.002 |
|
Net (loss)/income per
ADS (1 ADS represents 15 Class A ordinary shares): |
|
|
|
|
|
|
|
|
|
Basic |
(0.014 |
) |
|
0.021 |
|
|
0.008 |
|
|
(0.051 |
) |
|
0.029 |
|
Diluted |
(0.014 |
) |
|
0.021 |
|
|
0.008 |
|
|
(0.051 |
) |
|
0.029 |
|
Weighted average
number of ordinary shares used in calculating net (loss)/income per
ordinary share: |
|
|
|
|
|
|
|
|
|
Basic |
2,037,217,084 |
|
|
2,118,759,654 |
|
|
2,118,493,263 |
|
|
1,388,932,775 |
|
|
2,118,626,461 |
|
Diluted |
2,037,217,084 |
|
|
2,143,712,304 |
|
|
2,141,752,437 |
|
|
1,388,932,775 |
|
|
2,143,307,674 |
|
Reconciliations of Non-GAAP Results of Operations Measures
to the Nearest Comparable GAAP Measures |
(All amounts
in U.S. dollars ("US$"), except for number of ADSs and per ADS
data) |
|
|
For the three months ended June 30, 2019 |
|
For the three months ended March 31, 2020 |
|
For the three months ended June 30, 2020 |
|
|
|
non-GAAP |
|
|
|
|
|
non-GAAP |
|
|
|
|
|
non-GAAP |
|
|
|
GAAP |
|
Adjustment |
|
non-GAAP |
|
GAAP |
|
Adjustment |
|
non-GAAP |
|
GAAP |
|
Adjustment |
|
non-GAAP |
|
US$ |
|
US$ |
|
US$ |
|
US$ |
|
US$ |
|
US$ |
|
US$ |
|
US$ |
|
US$ |
|
Unaudited |
|
Unaudited |
|
Unaudited |
|
Unaudited |
|
Unaudited |
|
Unaudited |
|
Unaudited |
|
Unaudited |
|
Unaudited |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(Loss)/Income from operations |
(2,590,194 |
) |
|
1,094,022 |
(1 |
) |
(1,496,172 |
) |
|
1,903,939 |
|
1,217,014 |
(1 |
) |
3,120,953 |
|
5,107,258 |
|
1,734,220 |
(1 |
) |
6,841,478 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Net (loss)/income
attributable to UP Fintech Holding Limited |
(1,878,451 |
) |
|
1,094,022 |
|
(784,429 |
) |
|
3,032,602 |
|
1,217,014 |
|
4,249,616 |
|
1,090,211 |
|
1,734,220 |
|
2,824,431 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Net
(loss)/income per
ADS-diluted |
(0.014 |
) |
|
|
|
(0.006 |
) |
|
0.021 |
|
|
|
0.030 |
|
0.008 |
|
|
|
0.020 |
Weighted average number of
ADSs used in calculating diluted net (loss)/income
per ADS |
135,814,472 |
|
|
|
|
135,814,472 |
|
|
142,914,154 |
|
|
|
142,914,154 |
|
142,783,496 |
|
|
|
142,783,496 |
(1) Share-based compensation. |
Non-GAAP to GAAP reconciling items have no income tax
effect.
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