flatexDEGIRO (FTK) Q1 2026 earnings summary

Executive summary

• Achieved record Q1 2026 results with revenues up 19% year-over-year to EUR 174 million and net income reaching EUR 54 million, driven by increased transaction volumes, new product launches, and strong scalability.

• Settled trades rose 17% year-over-year to 22.7 million, supported by elevated market volatility and a 12% larger customer base.

• New products, including crypto trading, securities lending, and stock savings plans, contributed to revenue growth and future positioning.

• Hamburg Commercial Bank became the first Deposits as a Service client, and a new BPO client was launched.

• Operating expenses increased, mainly due to higher marketing spend, while personnel expenses declined year-over-year.

Financial highlights

• Revenue grew 19% year-over-year to EUR 174 million, with commission income up 18% to EUR 116 million and interest income up 14% to EUR 49 million.

• Net income reached EUR 54 million, up 28–35% year-over-year, marking a new quarterly record.

• EBITDA rose 26% year-over-year to EUR 87 million, with an EBITDA margin of 50.2%.

• Net cash inflows totaled EUR 3.1 billion, with 98% reinvested into securities.

• Assets under custody increased 18–24.8% year-over-year to EUR 94.5 billion; cash under custody grew 38% to EUR 6.4 billion.

Outlook and guidance

• 2026 guidance confirmed: revenue expected to grow 5–10% to EUR 588–616 million and net income 5–15% to EUR 168–184 million.

• 2027 outlook targets revenue of EUR 650 million and net income of EUR 200 million.

• Management remains cautious on trading activity due to tough comparables and market uncertainties but is confident in full-year targets.