Plus500 (PLUS) Q3 2025 TU earnings summary

Executive summary

• Achieved significant strategic progress in Q3 2025, including expansion into Canada and Colombia, and a major milestone in the US futures business with segregated funds surpassing $1.2bn.

• Focused on acquiring and retaining higher value customers, resulting in increased average deposit per active customer and enhanced customer longevity.

• Maintained a strong financial position with over $815m in cash and no debt as of 30 September 2025.

Financial highlights

• Revenue for the first nine months of 2025 rose 2% year-over-year to $597.8m; Q3 2025 revenue was $182.7m, down 2% from Q3 2024.

• EBITDA for the first nine months increased 1% to $267.8m, with a consistent EBITDA margin of 45%.

• Customer Income for the first nine months grew 8% to $536.7m; Q3 2025 Customer Income was $165.2m.

• Customer Trading Performance was ($3.6m) in Q3 2025, compared to $6.9m in Q3 2024.

• Total customer trades in Q3 2025 reached 14.9m, up 3% year-over-year.

Outlook and guidance

• FY 2025 revenue and EBITDA are expected to be in line with current market expectations of $749.5m and $343.0m, respectively.

• Positioned to drive sustained value creation and compound returns for shareholders.