Plus500 (PLUS) H2 2025 earnings summary

Executive summary

• Achieved strong operating momentum in 2025, driven by global diversification, proprietary technology, and accelerated delivery of strategic initiatives across OTC and non-OTC businesses.

• Expanded into new markets, including the fast-growing prediction market space and India via the Mehta Equities acquisition.

• Announced shareholder returns of $365 million for FY 2025, with an additional $187.5 million in early 2026.

• Secured new clearing memberships and strategic partnerships, supporting growth and innovation.

• Maintained a robust financial position and disciplined capital allocation.

Financial highlights

• Revenue grew 3% year-on-year to $792.4 million in FY2025.

• EBITDA increased 2% year-on-year to $348.1 million; on a constant currency basis, EBITDA was up 8%.

• Net profit was $281.3 million, up 3% year-on-year.

• Customer deposits reached a record $6.5 billion, with average deposit per active customer up over 400% in four years to $27,000.

• Cash and cash equivalents at year-end were $801.6 million, with no debt.

Outlook and guidance

• Entered 2026 with strong momentum, highlighted by new partnerships, market entries, and positive trading trends.

• Results for FY 2026 are expected to be ahead of current market expectations.

• Continued expansion of non-OTC operations and strategic growth through investments and acquisitions.