eToro Group (ETOR) investor relations material

Executive summary

• Achieved record Q1 results with net contribution of $258M (up 19% YoY), adjusted EBITDA of $109M (up 35% YoY), and net income of $82M (up 37% YoY), with funded accounts rising 12% YoY to over 4M.

• Assets under administration reached $17B (up 15% YoY), with April AUA at $18.7B (up 19% YoY).

• Strategic focus on AI integration, product innovation, and expansion into new asset classes and geographies, including always-on trading and Japanese equities.

• Acquisition of Zengo and Bit2C to strengthen crypto, DeFi, and digital asset capabilities, with Zengo closing April 30, 2026.

• Launched eToro App Store, AI-powered Agent Portfolios, and expanded crypto trading in New York after securing BitLicense.

Financial highlights

• Adjusted EBITDA margin rose to 42% from 37% YoY, reflecting higher net contribution.

• Adjusted diluted EPS was $0.91, up from $0.77 YoY; adjusted net income (non-GAAP) reached $86M, up 28%.

• Net trading contribution from capital markets grew 71% YoY to $166M, with commodities accounting for 60% of trading commissions.

• Net income (GAAP) rose to $82M from $60M YoY.

• Cash, cash equivalents, and short-term investments totaled $1.3B at quarter-end.

Outlook and guidance

• April KPIs showed acceleration: AUA at $18.7B (up 19% YoY), funded accounts at 4.07M (up 13% YoY).

• Management expects continued global expansion, product localization, and AI-driven innovation.

• Revenue per trade expected to remain slightly above $0.60-$0.75.

• Marketing investment to gradually increase to 25% of net contribution by year-end.

• Anticipate further product expansion, especially in AI, DeFi, and U.S. markets.