UP Fintech hits record high non-GAAP net profit in 2023

TLDR:

• UP Fintech reported record high non-GAAP net profit in 2023
• Q4 revenue increased by 9.6%, full-year revenue grew by 21%

UP Fintech Holding Limited, a key player in online brokerage, achieved significant earnings growth in 2023. Q4 revenue reached $70 million, up 9.6% from the previous year, while full-year revenue hit $273 million, showing 21% growth. Non-GAAP net profit soared to a record $42.7 million. The company added 39,000 funded accounts in Q4, totaling over 900,000 accounts with client assets doubling to $30.6 billion. New products and market expansion plans point to strong growth ahead.