← UP Fintech Holding Ltd
| Annual Trend | FY 2018 | FY 2019 | FY 2020 | FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 | |
|---|---|---|---|---|---|---|---|---|---|
| ASSETS | |||||||||
| Current assets: | |||||||||
| Cash and Cash Equivalents, at Carrying Value | $34.4m | $59.4m | $79.7m | $269.1m | $277.7m | $322.6m | $393.6m | $791.0m | |
| Prepaid Expense and Other Assets, Current | $5.8m | $8.0m | $11.2m | $16.1m | $13.0m | $17.9m | $17.6m | $34.0m | |
| Cash and cash equivalents | $34.4m | $59.4m | $79.7m | $269.1m | $277.7m | $322.6m | $393.6m | $791.0m | |
| Receivables from customers (net of allowance of US$15,284,002 and US$5,050,501 as of December 31, 2024 and 2025) | $353k | $106.1m | $372.2m | $664.7m | $644.7m | $753.4m | $1.1b | $1.8b | |
| Receivables from brokers, dealers, and clearing organizations (net of allowance of nil as of December 31, 2024 and 2025) | — | — | — | — | $956.9m | $541.9m | $2.3b | $2.0b | |
| Prepaid expenses and other current assets | $5.8m | $8.0m | $11.2m | $16.1m | $13.0m | $17.9m | $17.6m | $34.0m | |
| Accounts Receivable | — | — | — | — | $1.6b | $1.3b | $3.4b | $3.8b | |
| Accrued Interest Receivable | — | — | — | — | $45k | $611k | $733k | $319k | |
| Allowance For Doubtful Accounts Receivable | — | — | — | — | ($697k) | ($991k) | ($15.3m) | ($5.1m) | |
| Cash Cash Equivalents And Short Term Investments | — | — | — | — | $441.1m | $751.7m | $470.2m | $878.6m | |
| Gross Accounts Receivable | — | — | — | — | $1.6b | $1.3b | $3.4b | $3.8b | |
| Other Current Assets | — | — | — | — | $971k | $2.9m | $1.1m | $3.8m | |
| Other Receivables | — | — | — | — | $4.2m | $4.5m | $7.9m | $18.5m | |
| Other Short Term Investments | — | — | — | — | $163.5m | $429.1m | $76.6m | $87.6m | |
| Prepaid Assets | — | — | — | — | $7.4m | $9.3m | $7.7m | $11.0m | |
| Taxes Receivable | — | — | — | — | $290k | $570k | $137k | $390k | |
| Assets, Current | $102.9m | $769.7m | $2.2b | $3.3b | $3.7b | $3.7b | $6.3b | $8.2b | |
| Total current assets | $102.9m | $769.7m | $2.2b | $3.3b | $3.7b | $3.7b | $6.3b | $8.2b | |
| Long-term investments | $2.4m | $6.0m | $6.5m | $9.8m | $7.9m | $7.6m | $7.7m | $9.8m | |
| Property, Plant and Equipment, Net | $1.3m | $1.5m | $1.6m | $5.1m | $6.3m | $5.2m | $4.2m | $5.8m | |
| Goodwill | — | $2.4m | $2.4m | $2.5m | $2.5m | $2.5m | $2.5m | $2.5m | |
| Goodwill And Other Intangible Assets | — | — | — | — | $12.7m | $13.7m | $13.7m | $11.1m | |
| Other Intangible Assets | — | — | — | — | $10.2m | $11.2m | $11.2m | $8.6m | |
| Operating Lease, Right-of-Use Asset | — | $5.7m | $7.3m | $6.6m | $14.0m | $9.1m | $10.9m | $11.7m | |
| Other Assets, Noncurrent | $1.3m | $3.0m | $4.3m | $5.0m | $4.8m | $5.3m | $6.8m | $10.9m | |
| Right-of-use assets | — | $5.7m | $7.3m | $6.6m | $14.0m | $9.1m | $10.9m | $11.7m | |
| Additional Financial Items | |||||||||
| Accounts Receivable, after Allowance for Credit Loss, Current | $353k | $106.1m | $372.2m | — | — | — | — | — | |
| Cash-segregated for regulatory purpose | $6.7m | $317.9m | $867.9m | $1.4b | $1.7b | $1.6b | $2.5b | $3.4b | |
| Term deposits | $30.0m | $65.6m | $18.7m | $3.0m | $946k | $897k | $1.1m | $2.1m | |
| Financial instruments held, at fair value | $6.4m | $14.9m | $563k | $3.9m | $162.5m | $428.2m | $75.5m | $85.5m | |
| Amounts due from related parties | $8.5m | $3.5m | $5.1m | $2.9m | $4.8m | $16.0m | $33.4m | $38.2m | |
| Long-term deposits | — | — | — | — | — | $4.2m | $1.4m | $0 | |
| Equity method investment | — | — | — | — | — | — | $10.2m | $10.6m | |
| Other non-current assets | $1.3m | $3.0m | $4.3m | $5.0m | $4.8m | $5.3m | $6.8m | $10.9m | |
| Deferred tax assets | $6.3m | $12.6m | $9.9m | $12.3m | $13.1m | $11.0m | $8.6m | $10.4m | |
| Payables to customers | $6.6m | $512.5m | $1.7b | $2.5b | $3.0b | $2.9b | $3.6b | $5.1b | |
| Payables to brokers, dealers and clearing organizations | — | — | — | — | $138.6m | $114.8m | $1.9b | $1.9b | |
| Accrued expenses and other current liabilities (including accrued expenses and other current liabilities of the consolidated VIEs without recourse to the Group of US$10,624,181 and US$16,083,646 as of December 31, 2024 and 2025, respectively) | $10.4m | $16.9m | $27.1m | $33.7m | $37.8m | $42.4m | $67.3m | $111.7m | |
| Convertible bonds - current | — | — | — | — | — | — | $0 | $111.2m | |
| Lease liabilities - current (including lease liabilities - current of the consolidated VIEs without recourse to the Group of US$969,176 and US$860,712 as of December 31,2024 and 2025, respectively) | — | $2.4m | $3.5m | $2.6m | $5.5m | $4.1m | $4.2m | $6.8m | |
| Amount due to related parties | — | — | — | $2.0m | $462k | $10.1m | $874k | $69.9m | |
| Convertible bonds - non-current | — | — | — | — | $154.3m | $156.9m | $159.5m | $51.0m | |
| Lease liabilities - non-current (including lease liabilities - non-current of the consolidated VIEs without recourse to the Group of US1,292,591 and US$705,038 as of December 31, 2024 and 2025, respectively) | — | $3.4m | $3.7m | $3.1m | $8.4m | $4.8m | $5.9m | $4.2m | |
| Redeemable non-controlling interests | $2.2m | $3.1m | $0 | — | $4.7m | $6.7m | $7.2m | $4.9m | |
| Ordinary shares | $6k | $21k | $21k | $23k | $23k | $24k | $26k | $27k | |
| Statutory reserve | — | $724k | $2.7m | $3.6m | $6.2m | $8.5m | $12.4m | $15.6m | |
| Non-controlling interests | ($1.5m) | — | — | — | ($143k) | ($261k) | ($288k) | ($275k) | |
| Accumulated Depreciation | — | — | — | — | ($4.5m) | ($6.5m) | ($9.0m) | ($11.2m) | |
| Available For Sale Securities | — | — | — | — | — | $4.2m | $1.4m | — | |
| Capital Lease Obligations | — | — | — | — | $13.9m | $8.9m | $10.1m | $11.0m | |
| Current Accrued Expenses | — | — | — | — | $23.9m | $28.5m | $37.4m | $62.5m | |
| Current Capital Lease Obligation | — | — | — | — | $5.5m | $4.1m | $4.2m | $6.8m | |
| Current Debt And Capital Lease Obligation | — | — | — | — | $5.5m | $4.1m | $4.2m | $118.0m | |
| Current Deferred Liabilities | — | — | — | — | $3.7m | $4.2m | $5.0m | $6.9m | |
| Duefrom Related Parties Current | — | — | — | — | $4.8m | $8.0m | $16.7m | $19.1m | |
| Dueto Related Parties Current | — | — | — | — | $462k | $10.1m | $874k | $69.9m | |
| Gross PPE | — | — | — | — | $24.8m | $20.8m | $24.0m | $28.6m | |
| Invested Capital | — | — | — | — | $601.5m | $645.9m | $814.7m | $1.0b | |
| Investmentin Financial Assets | — | — | — | — | $0 | $4.2m | $1.4m | $0 | |
| Investments And Advances | — | — | — | — | $7.9m | $11.8m | $19.2m | $20.4m | |
| Leases | — | — | — | — | $1.7m | $1.7m | $1.2m | $1.6m | |
| Long Term Capital Lease Obligation | — | — | — | — | $8.4m | $4.8m | $5.9m | $4.2m | |
| Long Term Equity Investment | — | — | — | — | — | $0 | $10.2m | $10.6m | |
| Machinery Furniture Equipment | — | — | — | — | $2.1m | $2.3m | $2.6m | $2.7m | |
| Net PPE | — | — | — | — | $20.3m | $14.3m | $15.1m | $17.4m | |
| Net Tangible Assets | — | — | — | — | $434.4m | $475.2m | $641.6m | $854.4m | |
| Non Current Deferred Assets | — | — | — | — | $13.1m | $11.0m | $8.6m | $10.4m | |
| Non Current Deferred Liabilities | — | — | — | — | $2.4m | $3.4m | $2.1m | $1.7m | |
| Non Current Deferred Taxes Assets | — | — | — | — | $13.1m | $11.0m | $8.6m | $10.4m | |
| Ordinary Shares Number | — | — | — | — | $2.3b | $2.4b | $2.6b | $2.7b | |
| Other Current Liabilities | — | — | — | — | $1.3m | $425k | $3.1m | $4.9m | |
| Other Equity Adjustments | — | — | — | — | $3.9m | $5.3m | $506k | $25.0m | |
| Other Investments | — | — | — | — | $7.9m | $7.6m | $7.7m | $9.8m | |
| Other Payable | — | — | — | $500k | $138.6m | $114.8m | — | — | |
| Other Properties | — | — | — | — | $20.9m | $16.9m | $20.3m | $24.3m | |
| Preferred Securities Outside Stock Equity | — | — | — | $0 | $4.6m | $6.7m | — | — | |
| Properties | — | — | — | — | $0 | $0 | $0 | $0 | |
| Restricted Cash | — | — | — | — | $1.7b | $1.6b | $2.5b | $3.4b | |
| Share Issued | — | — | — | — | $2.3b | $2.4b | $2.7b | $2.7b | |
| Tangible Book Value | — | — | — | — | $434.4m | $475.2m | $641.6m | $854.4m | |
| Treasury Shares Number | — | — | — | — | $10.4m | $10.4m | $10.4m | $10.4m | |
| Working Capital | — | — | — | — | $558.0m | $604.4m | $766.2m | $852.5m | |
| Total Mezzanine equity | $124.1m | $3.1m | $0 | — | $4.6m | $6.7m | $7.2m | $4.9m | |
| Total UP Fintech shareholders' equity | ($24.4m) | $211.9m | $235.7m | $446.6m | $447.1m | $489.0m | $655.2m | $865.5m | |
| Total equity | ($25.9m) | $211.9m | — | $446.6m | $447.0m | $488.7m | $654.9m | $865.2m | |
| Total Capitalization | — | — | — | — | $601.5m | $645.9m | $814.7m | $916.5m | |
| Total Debt | — | — | — | — | $168.2m | $165.8m | $169.6m | $173.2m | |
| Total Non Current Assets | — | — | — | — | $58.8m | $56.1m | $63.4m | $74.6m | |
| Total Tax Payable | — | — | — | — | $9.4m | $7.3m | $16.1m | $27.6m | |
| Assets | $115.2m | $809.1m | $2.2b | $3.3b | $3.8b | $3.7b | $6.4b | $8.2b | |
| Total assets | $115.2m | $809.1m | $2.2b | $3.3b | $3.8b | $3.7b | $6.4b | $8.2b | |
| LIABILITIES AND EQUITY | |||||||||
| Current liabilities: | |||||||||
| Operating Lease, Liability, Current | — | $2.4m | $3.5m | $2.6m | $5.5m | $4.1m | $4.2m | $6.8m | |
| Operating Lease, Liability, Noncurrent | — | $3.4m | $3.7m | $3.1m | $8.4m | $4.8m | $5.9m | $4.2m | |
| Accounts Payable | — | — | — | — | $3.1b | $3.0b | $5.5b | $7.0b | |
| Current Deferred Revenue | — | — | — | — | $3.7m | $4.2m | $5.0m | $6.9m | |
| Payables And Accrued Expenses | — | — | — | — | $3.2b | $3.1b | $5.5b | $7.2b | |
| Liabilities, Current | $17.0m | $587.6m | $2.0b | $2.7b | $3.2b | $3.1b | $5.6b | $7.3b | |
| Total current liabilities | $17.0m | $587.6m | $2.0b | $2.7b | $3.2b | $3.1b | $5.6b | $7.3b | |
| Deferred Income Tax Liabilities, Net | — | $1.4m | $0 | $1.5m | $2.1m | $3.4m | $2.1m | $1.7m | |
| Deferred tax liabilities (including deferred tax liabilities of the consolidated VIEs without recourse to the Group of US$27,247 and US$16,522 as of December 31, 2024 and 2025, respectively) | — | $1.4m | $0 | $1.5m | $2.1m | $3.4m | $2.1m | $1.7m | |
| Long Term Debt | — | — | — | — | $154.3m | $156.9m | $159.5m | $51.0m | |
| Long Term Debt And Capital Lease Obligation | — | — | — | — | $162.7m | $161.7m | $165.4m | $55.2m | |
| Non Current Deferred Taxes Liabilities | — | — | — | — | $2.1m | $3.4m | $2.1m | $1.7m | |
| Pensionand Other Post Retirement Benefit Plans Current | — | — | — | — | $1.4m | $2.7m | $5.8m | $9.8m | |
| Deferred Tax Liabilities, Net | — | — | $3.3m | $3.2m | $4.7m | $5.2m | $4.1m | $4.2m | |
| Liabilities | $17.0m | $594.0m | $2.0b | $2.9b | $3.3b | $3.3b | $5.7b | $7.4b | |
| Total liabilities | $17.0m | $594.0m | $2.0b | $2.9b | $3.3b | $3.3b | $5.7b | $7.4b | |
| Redeemable Noncontrolling Interest, Equity, Carrying Amount | $2.2m | $3.1m | $0 | — | $4.7m | $6.7m | $7.2m | $4.9m | |
| Stockholders’ equity: | |||||||||
| Additional Paid in Capital | $42.5m | $285.8m | $291.8m | $484.3m | $495.7m | $505.4m | $619.0m | $634.2m | |
| Retained Earnings (Accumulated Deficit) | ($66.4m) | ($73.7m) | ($59.6m) | ($45.8m) | ($50.4m) | ($19.6m) | $37.8m | $208.4m | |
| Accumulated Other Comprehensive Income (Loss), Net of Tax | ($545k) | ($866k) | $2.9m | $6.7m | ($2.2m) | ($3.2m) | ($11.9m) | $9.5m | |
| Treasury stock (10,429,305 shares as of December 31, 2024 and 2025) | — | — | ($2.2m) | ($2.2m) | ($2.2m) | ($2.2m) | ($2.2m) | ($2.2m) | |
| Accumulated other comprehensive (loss) income | ($545k) | ($866k) | $2.9m | $6.7m | ($2.2m) | ($3.2m) | ($11.9m) | $9.5m | |
| Capital Stock | — | — | — | — | $23k | $24k | $26k | $27k | |
| Gains Losses Not Affecting Retained Earnings | — | — | — | — | $3.9m | $5.3m | $506k | $25.0m | |
| Treasury Stock | — | — | — | — | $2.2m | $2.2m | $2.2m | $2.2m | |
| Stockholders' Equity Attributable to Parent | ($24.4m) | $211.9m | $235.7m | $446.6m | $447.1m | $489.0m | $655.2m | $865.5m | |
| Stockholders' Equity Attributable to Noncontrolling Interest | ($1.5m) | — | — | — | ($143k) | ($261k) | ($288k) | ($275k) | |
| Minority Interest | — | — | — | — | ($143k) | $6.4m | $6.9m | $4.7m | |
| Total Equity Gross Minority Interest | — | — | — | — | $447.0m | $495.4m | $662.1m | $870.2m | |
| Total Non Current Liabilities Net Minority Interest | — | — | — | — | $169.8m | $165.1m | $167.5m | $56.9m | |
| Liabilities and Equity | $115.2m | $809.1m | $2.2b | $3.3b | $3.8b | $3.7b | $6.4b | $8.2b | |
| Total liabilities, mezzanine equity and equity | $115.2m | $809.1m | $2.2b | $3.3b | $3.8b | $3.7b | $6.4b | $8.2b |
Values abbreviated: b = billions, m = millions, k = thousands. Per share data in USD.