{"id":1262444,"date":"2026-05-12T14:15:27","date_gmt":"2026-05-12T11:15:27","guid":{"rendered":"https:\/\/www.etoro.com\/?p=1262444"},"modified":"2026-05-12T14:16:08","modified_gmt":"2026-05-12T11:16:08","slug":"etoro-reports-q1-2026-results","status":"publish","type":"post","link":"https:\/\/www.etoro.com\/en-us\/news-and-analysis\/latest-news\/press-release\/etoro-reports-q1-2026-results\/","title":{"rendered":"eToro Reports First Quarter 2026 Results"},"content":{"rendered":"<p style=\"text-align: center;\"><i><span style=\"font-weight: 400;\">Net Contribution of $258 million, up 19% YoY\u00a0<\/span><\/i><\/p>\n<p style=\"text-align: center;\"><i><span style=\"font-weight: 400;\">Net Income of $82 Million, up 37% YoY<\/span><\/i><\/p>\n<p style=\"text-align: center;\"><i><span style=\"font-weight: 400;\">Adjusted EBITDA of $109 million, up 35% YoY\u00a0<\/span><\/i><\/p>\n<p style=\"text-align: center;\"><i><span style=\"font-weight: 400;\">4.02 million funded accounts, up 12% YoY\u00a0<\/span><\/i><\/p>\n<p><b>New York \u2013 May 12, 2026 \u2013 <\/b><span style=\"font-weight: 400;\">eToro Group Ltd. (\u201ceToro\u201d, or the \u201cCompany\u201d) (NASDAQ: ETOR), the trading and investing platform, today announced financial results for the first quarter ended March 31, 2026.<\/span><\/p>\n<p><i><span style=\"font-weight: 400;\">\u201cI\u2019m incredibly proud of the eToro team for delivering our strongest quarterly financial results as a public company, while continuing to accelerate product innovation. In the first quarter, we introduced 24\/7 trading for commodities, equities and indices, added Japanese equities, and launched crypto trading in New York. We also saw acceleration in product launches with many new apps within the eToro App Store, AI-powered Agent Portfolios, and an integration with xAI for Tori, our AI agent.\u00a0<\/span><\/i><\/p>\n<p><i><span style=\"font-weight: 400;\">\u201cThe acquisition of Zengo, a leading self-custodial crypto wallet provider, meaningfully advances our strategy of bridging traditional finance with on-chain infrastructure, prediction markets, perpetuals and the broader crypto ecosystem.\u00a0<\/span><\/i><\/p>\n<p><i><span style=\"font-weight: 400;\">\u201cLooking ahead, we continue to enhance our global product offering, deepen our investment in on-chain technologies, and grow our suite of AI-driven tools, which we believe will fundamentally reshape how retail investors engage with the markets and unlock new opportunities for growth,\u201d <\/span><\/i><span style=\"font-weight: 400;\">commented <\/span><b>Yoni Assia, CEO and Co-Founder of eToro<\/b><span style=\"font-weight: 400;\">.<\/span><\/p>\n<p><i><span style=\"font-weight: 400;\">\u201cStrong first quarter 2026 results supported by a surge in commodities trading, demonstrated the strength of our multi-asset business model. We delivered compelling financial performance through a combination of diversified revenue streams, strong funded accounts growth, and increased customer engagement. We continue to execute with discipline and focus as we seek to deliver long-term value to our shareholders,\u201d <\/span><\/i><span style=\"font-weight: 400;\">said <\/span><b>Meron Shani, eToro CFO<\/b><span style=\"font-weight: 400;\">.<\/span><\/p>\n<p><b>First Quarter 2026 Financial and Product Highlights<\/b><\/p>\n<ul>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><b>Net contribution <\/b><span style=\"font-weight: 400;\">increased by 19% year-over-year to $258 million, compared to $217 million in the first quarter of 2025, driven primarily by increased commodities trading activity.<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><b>Net income (GAAP) <\/b><span style=\"font-weight: 400;\">increased by 37% year-over-year to $82 million, compared to $60 million in the first quarter of 2025.<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><b>Adjusted Net Income (Non-GAAP) <\/b><span style=\"font-weight: 400;\">increased by 28% year-over-year to $86 million, compared to $67 million in the first quarter of 2025.<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><b>Adjusted EBITDA (Non-GAAP) <\/b><span style=\"font-weight: 400;\">increased by 35% year-over-year to $109 million, compared to $80 million in the first quarter of 2025, largely due to increased net contribution.<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><b>Adjusted Diluted EPS (Non-GAAP) <\/b><span style=\"font-weight: 400;\">was $0.91, compared to $0.77 in the first quarter of 2025.<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><b>Funded Accounts <\/b><span style=\"font-weight: 400;\">increased 12% year-over-year to 4.02 million compared to 3.58 million in the first quarter of 2025. This was driven primarily by increased marketing spend on user acquisition and retention efforts.<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><b>Assets under Administration <\/b><span style=\"font-weight: 400;\">grew by 15% year-over-year to $17.0 billion, compared to $14.8 billion in the first quarter of 2025.<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><b>Cash, Cash Equivalents and Short Term Investments <\/b><span style=\"font-weight: 400;\">were $1.3 billion as of March 31, 2026.<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><b>Launched key products <\/b><span style=\"font-weight: 400;\">in AI, 24\/7 trading, savings and eToro Money across our four pillars of Trading, Investing, Wealth Management and Neo-Banking.<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><b>Acquisition <\/b><span style=\"font-weight: 400;\">of Zengo, a leading self-custodial crypto wallet provider, which closed on April 30<\/span><span style=\"font-weight: 400;\">th<\/span><span style=\"font-weight: 400;\">, 2026.<\/span><\/li>\n<\/ul>\n<p><b>April KPI metrics<\/b><\/p>\n<p><span style=\"font-weight: 400;\">eToro also reported the below selected monthly business metrics for April 2026:<\/span><\/p>\n<ul>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><b>Assets under Administration (AUA) <\/b><span style=\"font-weight: 400;\">were $18.7 billion, up 19% year-over-year.<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><b>Funded Accounts <\/b><span style=\"font-weight: 400;\">were 4.07 million, up 13% year-over-year.<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><b>Capital Markets\/ECC Activity<\/b>\n<ul>\n<li style=\"font-weight: 400;\" aria-level=\"2\"><span style=\"font-weight: 400;\">Total number of trades for April was 63 million, up 50% year-over-year;<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"2\"><span style=\"font-weight: 400;\">Invested amount per trade for April was $197, down 48% year-over-year.<\/span><\/li>\n<\/ul>\n<\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><b>Crypto Activity<\/b>\n<ul>\n<li style=\"font-weight: 400;\" aria-level=\"2\"><span style=\"font-weight: 400;\">Total number of trades for April was 2 million, down 32% year-over-year;<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"2\"><span style=\"font-weight: 400;\">Invested amount per trade for April was $207, down 22% year-over-year.<\/span><\/li>\n<\/ul>\n<\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><b>Interest Earning Assets <\/b><span style=\"font-weight: 400;\">for April were $7.0 billion, up 28% year-over-year.<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><b>Total Money Transfers <\/b><span style=\"font-weight: 400;\">for April were $1.4 billion, up 53% year-over-year.<\/span><\/li>\n<\/ul>\n<p><b>Business Highlights<\/b><\/p>\n<p><span style=\"font-weight: 400;\">eToro accelerated product development in the first quarter, launching products and services to support users at every stage of their investing journey.<\/span><\/p>\n<ul>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><b>Trading: <\/b><span style=\"font-weight: 400;\">eToro expanded its offering with the launch of 24\/7 trading for select commodities, equities and indices. Commodities trading accounted for approximately 60% of trading commissions in the quarter, and volumes increased nearly fourfold year-over-year. With the addition of Japanese equities, eToro now offers users the ability to trade equities from 26 exchanges. The Company introduced crypto trading for users in New York, successfully activating its BitLicense and Money Transmitter License.<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><b>Investing: <\/b><span style=\"font-weight: 400;\">eToro continued to enhance its investing experience including the launch of the eToro App Store, a marketplace enabling investors and developers to access, build, share, and scale trading and analytics applications directly within the eToro ecosystem. As part of its commitment to AI-powered investing, eToro introduced Agent Portfolios, dedicated sub-portfolios, which provide a structured way to experiment with intelligent portfolio automation in a controlled environment through a simple conversational interface with Tori, eToro\u2019s AI agent. eToro also expanded its partnership with xAI, embedding real-time market sentiment powered by Grok 4.2 directly into Tori\u2019s investing workflow.<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><b>Wealth Management: <\/b><span style=\"font-weight: 400;\">eToro strengthened its wealth offering supported by growth in UK ISAs and the launch of an upgraded subscription service. The Company is targeting a market opportunity exceeding $1 trillion, with strong momentum in the UK cash ISA segment, where assets under management in the quarter grew 15x year-over-year. eToro introduced an upgraded eToro Club Subscription, providing access to exclusive wealth tools, enhanced investing features, and premium rewards.<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><b>Neo-Banking: <\/b><span style=\"font-weight: 400;\">The European rollout of the eToro Money card continued to see strong adoption, with the number of new cards issued increasing 2.2x quarter-over-quarter. eToro continues to expand its localized experience to strengthen user trust, drive adoption, and support sustainable growth across key regions.\u00a0<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><b>M&amp;A: <\/b><span style=\"font-weight: 400;\">In April, eToro announced the acquisition of Zengo, combining eToro\u2019s global multi-asset platform and distribution with Zengo\u2019s secure, self-custodial wallet technology. The acquisition strengthens the Company\u2019s digital asset capabilities and accelerates its strategy to bridge traditional finance with on-chain infrastructure and the crypto-native economy.<\/span><\/li>\n<\/ul>\n<p><b>Conference Call and Livestream Information<\/b><\/p>\n<p><span style=\"font-weight: 400;\">eToro will host a video call to discuss its results at 5:30 a.m. PT \/ 8:30 a.m. ET today, May 12, 2026. The video call can be accessed at <\/span><a href=\"https:\/\/investors.etoro.com\" rel=\"nofollow noopener noreferrer\" ><span style=\"font-weight: 400;\">investors.etoro.com<\/span><\/a><span style=\"font-weight: 400;\">, along with this earnings press release and accompanying slide presentation. The event will also be live streamed to eToro\u2019s <\/span><a href=\"https:\/\/www.youtube.com\/etoro\" rel=\"nofollow noopener noreferrer\" ><span style=\"font-weight: 400;\">YouTube<\/span><\/a><span style=\"font-weight: 400;\"> and <\/span><a href=\"https:\/\/x.com\/eToro\" rel=\"nofollow noopener noreferrer\" ><span style=\"font-weight: 400;\">X.com<\/span><\/a><span style=\"font-weight: 400;\"> official channels.<\/span><\/p>\n<p><b>Contact<\/b><\/p>\n<p><span style=\"font-weight: 400;\">Media Relations \u2013 <\/span><a href=\"mailto:pr@etoro.com\"><span style=\"font-weight: 400;\">pr@etoro.com<\/span><\/a><\/p>\n<p><span style=\"font-weight: 400;\">Investor Relations \u2013 <\/span><a href=\"mailto:investors@etoro.com\"><span style=\"font-weight: 400;\">investors@etoro.com<\/span><\/a><\/p>\n<p><b>About eToro<\/b><\/p>\n<p><a href=\"http:\/\/etoro.com\/\"><span style=\"font-weight: 400;\">eToro<\/span><\/a><span style=\"font-weight: 400;\"> is the trading and investing platform that empowers you to invest, share and learn. We were founded in 2007 with the vision of a world where everyone can trade and invest in a simple and transparent way. Today we have 40 million registered users from 75 countries. We believe there is power in shared knowledge and that we can become more successful by investing together. So we\u2019ve created a collaborative investment community designed to provide you with the tools you need to grow your <\/span><a href=\"https:\/\/www.etoro.com\/academy\/\"><span style=\"font-weight: 400;\">knowledge<\/span><\/a><span style=\"font-weight: 400;\"> and wealth. On eToro, you can hold a range of traditional and innovative assets and choose how you invest: trade directly, invest in a portfolio, or copy other investors. You can visit our media center <\/span><a href=\"https:\/\/www.etoro.com\/about\/media-center\/\"><span style=\"font-weight: 400;\">here<\/span><\/a><span style=\"font-weight: 400;\"> for our latest news.<\/span><\/p>\n<p style=\"text-align: center;\"><b>ETORO GROUP LTD.<\/b><\/p>\n<p style=\"text-align: center;\"><b>CONDENSED CONSOLIDATED BALANCE SHEETS<\/b><\/p>\n<p style=\"text-align: center;\"><b>U.S. dollars in thousands<\/b><\/p>\n<table>\n<tbody>\n<tr>\n<td><\/td>\n<td><b>March 31<\/b><\/td>\n<td><\/td>\n<td><b>December 31<\/b><\/td>\n<\/tr>\n<tr>\n<td><\/td>\n<td><b>2026<\/b><\/td>\n<td><\/td>\n<td><b>2025<\/b><\/td>\n<\/tr>\n<tr>\n<td><\/td>\n<td><b>Unaudited<\/b><\/td>\n<td><\/td>\n<td><b> Unaudited<\/b><\/td>\n<\/tr>\n<tr>\n<td><b>Assets<\/b><\/td>\n<td><\/td>\n<td><\/td>\n<td><\/td>\n<\/tr>\n<tr>\n<td><b>Current assets:<\/b><\/td>\n<td><\/td>\n<td><\/td>\n<td><\/td>\n<\/tr>\n<tr>\n<td><span style=\"font-weight: 400;\">Cash and cash equivalents<\/span><\/td>\n<td><span style=\"font-weight: 400;\">1,047,403<\/span><\/td>\n<td><\/td>\n<td><span style=\"font-weight: 400;\">1,072,641<\/span><\/td>\n<\/tr>\n<tr>\n<td><span style=\"font-weight: 400;\">Restricted cash<\/span><\/td>\n<td><span style=\"font-weight: 400;\">327<\/span><\/td>\n<td><\/td>\n<td><span style=\"font-weight: 400;\">329<\/span><\/td>\n<\/tr>\n<tr>\n<td><span style=\"font-weight: 400;\">Short-term investment<\/span><\/td>\n<td><span style=\"font-weight: 400;\">228,248<\/span><\/td>\n<td><\/td>\n<td><span style=\"font-weight: 400;\">202,688<\/span><\/td>\n<\/tr>\n<tr>\n<td><span style=\"font-weight: 400;\">Counterparties<\/span><\/td>\n<td><span style=\"font-weight: 400;\">347,053<\/span><\/td>\n<td><\/td>\n<td><span style=\"font-weight: 400;\">249,055<\/span><\/td>\n<\/tr>\n<tr>\n<td><span style=\"font-weight: 400;\">Cryptoassets<\/span><\/td>\n<td><span style=\"font-weight: 400;\">60,536<\/span><\/td>\n<td><\/td>\n<td><span style=\"font-weight: 400;\">62,606<\/span><\/td>\n<\/tr>\n<tr>\n<td><span style=\"font-weight: 400;\">Receivable from omnibus accounts<\/span><\/td>\n<td><span style=\"font-weight: 400;\">8,951<\/span><\/td>\n<td><\/td>\n<td><span style=\"font-weight: 400;\">26,820<\/span><\/td>\n<\/tr>\n<tr>\n<td><span style=\"font-weight: 400;\">Other receivables and prepaid expenses<\/span><\/td>\n<td><span style=\"font-weight: 400;\">66,339<\/span><\/td>\n<td><\/td>\n<td><span style=\"font-weight: 400;\">61,299<\/span><\/td>\n<\/tr>\n<tr>\n<td><\/td>\n<td><b>1,758,857<\/b><\/td>\n<td><\/td>\n<td><b>1,675,438<\/b><\/td>\n<\/tr>\n<tr>\n<td><b>Non-current assets:<\/b><\/td>\n<td><\/td>\n<td><\/td>\n<td><\/td>\n<\/tr>\n<tr>\n<td><span style=\"font-weight: 400;\">Restricted cash<\/span><\/td>\n<td><span style=\"font-weight: 400;\">11,794<\/span><\/td>\n<td><\/td>\n<td><span style=\"font-weight: 400;\">11,688<\/span><\/td>\n<\/tr>\n<tr>\n<td><span style=\"font-weight: 400;\">Right of use assets<\/span><\/td>\n<td><span style=\"font-weight: 400;\">25,695<\/span><\/td>\n<td><\/td>\n<td><span style=\"font-weight: 400;\">41,873<\/span><\/td>\n<\/tr>\n<tr>\n<td><span style=\"font-weight: 400;\">Property and equipment, net<\/span><\/td>\n<td><span style=\"font-weight: 400;\">8,681<\/span><\/td>\n<td><\/td>\n<td><span style=\"font-weight: 400;\">7,361<\/span><\/td>\n<\/tr>\n<tr>\n<td><span style=\"font-weight: 400;\">Goodwill and other intangible assets, net<\/span><\/td>\n<td><span style=\"font-weight: 400;\">42,508<\/span><\/td>\n<td><\/td>\n<td><span style=\"font-weight: 400;\">43,211<\/span><\/td>\n<\/tr>\n<tr>\n<td><span style=\"font-weight: 400;\">Deferred taxes<\/span><\/td>\n<td><span style=\"font-weight: 400;\">11,513<\/span><\/td>\n<td><\/td>\n<td><span style=\"font-weight: 400;\">11,776<\/span><\/td>\n<\/tr>\n<tr>\n<td><\/td>\n<td><b>100,191<\/b><\/td>\n<td><\/td>\n<td><b>115,909<\/b><\/td>\n<\/tr>\n<tr>\n<td><\/td>\n<td><\/td>\n<td><\/td>\n<td><\/td>\n<\/tr>\n<tr>\n<td><b>Total Assets<\/b><\/td>\n<td><b>1,859,048<\/b><\/td>\n<td><\/td>\n<td><b>1,791,347<\/b><\/td>\n<\/tr>\n<tr>\n<td><\/td>\n<td><\/td>\n<td><\/td>\n<td><\/td>\n<\/tr>\n<tr>\n<td><b>Liabilities and equities<\/b><\/td>\n<td><\/td>\n<td><\/td>\n<td><\/td>\n<\/tr>\n<tr>\n<td><b>Current liabilities:<\/b><\/td>\n<td><\/td>\n<td><\/td>\n<td><\/td>\n<\/tr>\n<tr>\n<td><span style=\"font-weight: 400;\">Accounts payable<\/span><\/td>\n<td><span style=\"font-weight: 400;\">5,163<\/span><\/td>\n<td><\/td>\n<td><span style=\"font-weight: 400;\">4,435<\/span><\/td>\n<\/tr>\n<tr>\n<td><span style=\"font-weight: 400;\">Current maturities of long-term lease liabilities<\/span><\/td>\n<td><span style=\"font-weight: 400;\">5,462<\/span><\/td>\n<td><\/td>\n<td><span style=\"font-weight: 400;\">5,978<\/span><\/td>\n<\/tr>\n<tr>\n<td><span style=\"font-weight: 400;\">Short term liabilities<\/span><\/td>\n<td><span style=\"font-weight: 400;\">7,923<\/span><\/td>\n<td><\/td>\n<td><span style=\"font-weight: 400;\">8,994<\/span><\/td>\n<\/tr>\n<tr>\n<td><span style=\"font-weight: 400;\">Payable to users<\/span><\/td>\n<td><span style=\"font-weight: 400;\">190,579<\/span><\/td>\n<td><\/td>\n<td><span style=\"font-weight: 400;\">107,830<\/span><\/td>\n<\/tr>\n<tr>\n<td><span style=\"font-weight: 400;\">Accrued expenses and other payables<\/span><\/td>\n<td><span style=\"font-weight: 400;\">239,123<\/span><\/td>\n<td><\/td>\n<td><span style=\"font-weight: 400;\">215,414<\/span><\/td>\n<\/tr>\n<tr>\n<td><\/td>\n<td><b>448,250<\/b><\/td>\n<td><\/td>\n<td><b>342,651<\/b><\/td>\n<\/tr>\n<tr>\n<td><b>Non-current liabilities:<\/b><\/td>\n<td><\/td>\n<td><\/td>\n<td><\/td>\n<\/tr>\n<tr>\n<td><span style=\"font-weight: 400;\">Employee benefit liabilities, net<\/span><\/td>\n<td><span style=\"font-weight: 400;\">923<\/span><\/td>\n<td><\/td>\n<td><span style=\"font-weight: 400;\">962<\/span><\/td>\n<\/tr>\n<tr>\n<td><span style=\"font-weight: 400;\">Long-term lease liabilities<\/span><\/td>\n<td><span style=\"font-weight: 400;\">28,207<\/span><\/td>\n<td><\/td>\n<td><span style=\"font-weight: 400;\">48,485<\/span><\/td>\n<\/tr>\n<tr>\n<td><span style=\"font-weight: 400;\">Deferred taxes<\/span><\/td>\n<td><span style=\"font-weight: 400;\">4,495<\/span><\/td>\n<td><\/td>\n<td><span style=\"font-weight: 400;\">4,659<\/span><\/td>\n<\/tr>\n<tr>\n<td><\/td>\n<td><b>33,625<\/b><\/td>\n<td><\/td>\n<td><b>54,106<\/b><\/td>\n<\/tr>\n<tr>\n<td><b>Equity attributable to equity holders of the company:<\/b><\/td>\n<td><\/td>\n<td><\/td>\n<td><\/td>\n<\/tr>\n<tr>\n<td><span style=\"font-weight: 400;\">Common share premium<\/span><\/td>\n<td><span style=\"font-weight: 400;\">1,280,706<\/span><\/td>\n<td><\/td>\n<td><span style=\"font-weight: 400;\">1,273,894<\/span><\/td>\n<\/tr>\n<tr>\n<td><span style=\"font-weight: 400;\">Preferred share premium<\/span><\/td>\n<td><span style=\"font-weight: 400;\">\u2014<\/span><\/td>\n<td><\/td>\n<td><span style=\"font-weight: 400;\">\u2014<\/span><\/td>\n<\/tr>\n<tr>\n<td><span style=\"font-weight: 400;\">Treasury shares<\/span><\/td>\n<td><span style=\"font-weight: 400;\">(165,157)<\/span><\/td>\n<td><\/td>\n<td><span style=\"font-weight: 400;\">(62,085)<\/span><\/td>\n<\/tr>\n<tr>\n<td><span style=\"font-weight: 400;\">Advanced Investment Agreement<\/span><\/td>\n<td><span style=\"font-weight: 400;\">9,091<\/span><\/td>\n<td><\/td>\n<td><span style=\"font-weight: 400;\">9,091<\/span><\/td>\n<\/tr>\n<tr>\n<td><span style=\"font-weight: 400;\">Other capital reserve<\/span><\/td>\n<td><span style=\"font-weight: 400;\">1,881<\/span><\/td>\n<td><\/td>\n<td><span style=\"font-weight: 400;\">5,441<\/span><\/td>\n<\/tr>\n<tr>\n<td><span style=\"font-weight: 400;\">Retained Earnings<\/span><\/td>\n<td><span style=\"font-weight: 400;\">250,652<\/span><\/td>\n<td><\/td>\n<td><span style=\"font-weight: 400;\">168,249<\/span><\/td>\n<\/tr>\n<tr>\n<td><\/td>\n<td><b>1,377,173<\/b><\/td>\n<td><\/td>\n<td><b>1,394,590<\/b><\/td>\n<\/tr>\n<tr>\n<td><b>Total liabilities and equity<\/b><\/td>\n<td><b>1,859,048<\/b><\/td>\n<td><\/td>\n<td><b>1,791,347<\/b><\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<p style=\"text-align: center;\"><b>ETORO GROUP LTD.<\/b><\/p>\n<p style=\"text-align: center;\"><b>CONDENSED CONSOLIDATED STATEMENTS OF PROFIT OR LOSS<\/b><\/p>\n<p style=\"text-align: center;\"><b>AND OTHER COMPREHENSIVE INCOME (LOSS)<\/b><\/p>\n<p style=\"text-align: center;\"><b>U.S. dollars in thousands<\/b><\/p>\n<table>\n<tbody>\n<tr>\n<td><\/td>\n<td><b>Three months ended<\/b><\/td>\n<td><\/td>\n<td><b>Three months ended<\/b><\/td>\n<\/tr>\n<tr>\n<td><\/td>\n<td><b>March 31, 2026<\/b><\/td>\n<td><\/td>\n<td><b>March 31, 2025<\/b><\/td>\n<\/tr>\n<tr>\n<td><\/td>\n<td><b>Unaudited<\/b><\/td>\n<td><\/td>\n<td><b>Unaudited<\/b><\/td>\n<\/tr>\n<tr>\n<td><\/td>\n<td><\/td>\n<td><\/td>\n<td><\/td>\n<\/tr>\n<tr>\n<td><b><i>Revenue and income:<\/i><\/b><\/td>\n<td><\/td>\n<td><\/td>\n<td><\/td>\n<\/tr>\n<tr>\n<td><span style=\"font-weight: 400;\">Net trading income from equities, commodities and currencies<\/span><\/td>\n<td><span style=\"font-weight: 400;\">165,637<\/span><\/td>\n<td><\/td>\n<td><span style=\"font-weight: 400;\">96,837<\/span><\/td>\n<\/tr>\n<tr>\n<td><span style=\"font-weight: 400;\">Revenue from cryptoassets<\/span><\/td>\n<td><span style=\"font-weight: 400;\">2,153,099<\/span><\/td>\n<td><\/td>\n<td><span style=\"font-weight: 400;\">3,500,800<\/span><\/td>\n<\/tr>\n<tr>\n<td><span style=\"font-weight: 400;\">Net trading income from cryptoassets derivatives<\/span><\/td>\n<td><span style=\"font-weight: 400;\">33,391<\/span><\/td>\n<td><\/td>\n<td><span style=\"font-weight: 400;\">77,051<\/span><\/td>\n<\/tr>\n<tr>\n<td><span style=\"font-weight: 400;\">Net interest income from users<\/span><\/td>\n<td><span style=\"font-weight: 400;\">47,326<\/span><\/td>\n<td><\/td>\n<td><span style=\"font-weight: 400;\">52,618<\/span><\/td>\n<\/tr>\n<tr>\n<td><span style=\"font-weight: 400;\">Currency conversion and other income<\/span><\/td>\n<td><span style=\"font-weight: 400;\">30,976<\/span><\/td>\n<td><\/td>\n<td><span style=\"font-weight: 400;\">23,911<\/span><\/td>\n<\/tr>\n<tr>\n<td><span style=\"font-weight: 400;\">Other interest income<\/span><\/td>\n<td><span style=\"font-weight: 400;\">8,707<\/span><\/td>\n<td><\/td>\n<td><span style=\"font-weight: 400;\">4,164<\/span><\/td>\n<\/tr>\n<tr>\n<td><b>Total revenue and income<\/b><\/td>\n<td><b>2,439,136<\/b><\/td>\n<td><\/td>\n<td><b>3,755,381<\/b><\/td>\n<\/tr>\n<tr>\n<td><\/td>\n<td><\/td>\n<td><\/td>\n<td><\/td>\n<\/tr>\n<tr>\n<td><b><i>Costs:<\/i><\/b><\/td>\n<td><\/td>\n<td><\/td>\n<td><\/td>\n<\/tr>\n<tr>\n<td><span style=\"font-weight: 400;\">Cost of revenue from cryptoassets<\/span><\/td>\n<td><span style=\"font-weight: 400;\">2,171,127<\/span><\/td>\n<td><\/td>\n<td><span style=\"font-weight: 400;\">3,528,853<\/span><\/td>\n<\/tr>\n<tr>\n<td><span style=\"font-weight: 400;\">Margin interest expense<\/span><\/td>\n<td><span style=\"font-weight: 400;\">9,854<\/span><\/td>\n<td><\/td>\n<td><span style=\"font-weight: 400;\">9,159<\/span><\/td>\n<\/tr>\n<tr>\n<td><span style=\"font-weight: 400;\">Research and development<\/span><\/td>\n<td><span style=\"font-weight: 400;\">41,087<\/span><\/td>\n<td><\/td>\n<td><span style=\"font-weight: 400;\">36,621<\/span><\/td>\n<\/tr>\n<tr>\n<td><span style=\"font-weight: 400;\">Selling and marketing<\/span><\/td>\n<td><span style=\"font-weight: 400;\">61,505<\/span><\/td>\n<td><\/td>\n<td><span style=\"font-weight: 400;\">61,222<\/span><\/td>\n<\/tr>\n<tr>\n<td><span style=\"font-weight: 400;\">General, administrative and operating costs<\/span><\/td>\n<td><span style=\"font-weight: 400;\">58,383<\/span><\/td>\n<td><\/td>\n<td><span style=\"font-weight: 400;\">49,502<\/span><\/td>\n<\/tr>\n<tr>\n<td><span style=\"font-weight: 400;\">Finance and other income, net<\/span><\/td>\n<td><span style=\"font-weight: 400;\">(2,015)<\/span><\/td>\n<td><\/td>\n<td><span style=\"font-weight: 400;\">(517)<\/span><\/td>\n<\/tr>\n<tr>\n<td><b>Total costs<\/b><\/td>\n<td><b>2,339,941<\/b><\/td>\n<td><\/td>\n<td><b>3,684,840<\/b><\/td>\n<\/tr>\n<tr>\n<td><\/td>\n<td><\/td>\n<td><\/td>\n<td><\/td>\n<\/tr>\n<tr>\n<td><span style=\"font-weight: 400;\">Income before taxes on income<\/span><\/td>\n<td><span style=\"font-weight: 400;\">99,195<\/span><\/td>\n<td><\/td>\n<td><span style=\"font-weight: 400;\">70,541<\/span><\/td>\n<\/tr>\n<tr>\n<td><span style=\"font-weight: 400;\">Taxes on income<\/span><\/td>\n<td><span style=\"font-weight: 400;\">16,791<\/span><\/td>\n<td><\/td>\n<td><span style=\"font-weight: 400;\">10,589<\/span><\/td>\n<\/tr>\n<tr>\n<td><b>Net income<\/b><\/td>\n<td><b>82,404<\/b><\/td>\n<td><\/td>\n<td><b>59,952<\/b><\/td>\n<\/tr>\n<tr>\n<td><\/td>\n<td><\/td>\n<td><\/td>\n<td><\/td>\n<\/tr>\n<tr>\n<td><b><i>Other comprehensive income, net:<\/i><\/b><\/td>\n<td><\/td>\n<td><\/td>\n<td><\/td>\n<\/tr>\n<tr>\n<td><b><i>Items that may be reclassified subsequently to profit or loss:<\/i><\/b><\/td>\n<td><\/td>\n<td><\/td>\n<td><\/td>\n<\/tr>\n<tr>\n<td><span style=\"font-weight: 400;\">Cash flow hedges, net of tax<\/span><\/td>\n<td><span style=\"font-weight: 400;\">(3,560)<\/span><\/td>\n<td><\/td>\n<td><span style=\"font-weight: 400;\">(2,229)<\/span><\/td>\n<\/tr>\n<tr>\n<td><b>Other comprehensive loss for the period, net of tax<\/b><\/td>\n<td><b>(3,560)<\/b><\/td>\n<td><\/td>\n<td><b>(2,229)<\/b><\/td>\n<\/tr>\n<tr>\n<td><\/td>\n<td><\/td>\n<td><\/td>\n<td><\/td>\n<\/tr>\n<tr>\n<td><b>Total comprehensive income<\/b><\/td>\n<td><b>78,844<\/b><\/td>\n<td><\/td>\n<td><b>57,723<\/b><\/td>\n<\/tr>\n<tr>\n<td><\/td>\n<td><\/td>\n<td><\/td>\n<td><\/td>\n<\/tr>\n<tr>\n<td><span style=\"font-weight: 400;\">Basic net income per share<\/span><\/td>\n<td><span style=\"font-weight: 400;\">0.98<\/span><\/td>\n<td><\/td>\n<td><span style=\"font-weight: 400;\">0.79<\/span><\/td>\n<\/tr>\n<tr>\n<td><span style=\"font-weight: 400;\">Diluted net income per share<\/span><\/td>\n<td><span style=\"font-weight: 400;\">0.86<\/span><\/td>\n<td><\/td>\n<td><span style=\"font-weight: 400;\">0.69<\/span><\/td>\n<\/tr>\n<tr>\n<td><\/td>\n<td><\/td>\n<td><\/td>\n<td><\/td>\n<\/tr>\n<tr>\n<td><b>Weighted-average shares of common shares used to compute net income per share attributable to common shareholders:<\/b><\/td>\n<td><\/td>\n<td><\/td>\n<td><\/td>\n<\/tr>\n<tr>\n<td><span style=\"font-weight: 400;\">Basic<\/span><\/td>\n<td><span style=\"font-weight: 400;\">84,155,367<\/span><\/td>\n<td><\/td>\n<td><span style=\"font-weight: 400;\">75,712,289<\/span><\/td>\n<\/tr>\n<tr>\n<td><span style=\"font-weight: 400;\">Diluted<\/span><\/td>\n<td><span style=\"font-weight: 400;\">94,177,135<\/span><\/td>\n<td><\/td>\n<td><span style=\"font-weight: 400;\">86,576,130<\/span><\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<p style=\"text-align: center;\"><b>ETORO GROUP LTD.<\/b><\/p>\n<p style=\"text-align: center;\"><b>CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS<\/b><\/p>\n<p style=\"text-align: center;\"><b>U.S. dollars in thousands<\/b><\/p>\n<table>\n<tbody>\n<tr>\n<td><\/td>\n<td><b>Three months ended<\/b><\/td>\n<td><\/td>\n<td><b>Three months ended<\/b><\/td>\n<\/tr>\n<tr>\n<td><\/td>\n<td><b>March 31, 2026<\/b><\/td>\n<td><\/td>\n<td><b>March 31, 2025<\/b><b>3<\/b><\/td>\n<\/tr>\n<tr>\n<td><\/td>\n<td><b>Unaudited<\/b><\/td>\n<td><\/td>\n<td><b>Unaudited<\/b><\/td>\n<\/tr>\n<tr>\n<td><b>Cash flows from operating activities:<\/b><\/td>\n<td><\/td>\n<td><\/td>\n<td><\/td>\n<\/tr>\n<tr>\n<td><b>Net income<\/b><\/td>\n<td><b>82,404<\/b><\/td>\n<td><\/td>\n<td><b>59,952<\/b><\/td>\n<\/tr>\n<tr>\n<td><b>Adjustments to profit or loss items:<\/b><\/td>\n<td><\/td>\n<td><\/td>\n<td><\/td>\n<\/tr>\n<tr>\n<td><span style=\"font-weight: 400;\">Depreciation, amortization, impairment and disposal Costs<\/span><\/td>\n<td><span style=\"font-weight: 400;\">3,216<\/span><\/td>\n<td><\/td>\n<td><span style=\"font-weight: 400;\">3,011<\/span><\/td>\n<\/tr>\n<tr>\n<td><span style=\"font-weight: 400;\">Share-based payment<\/span><\/td>\n<td><span style=\"font-weight: 400;\">4,052<\/span><\/td>\n<td><\/td>\n<td><span style=\"font-weight: 400;\">4,287<\/span><\/td>\n<\/tr>\n<tr>\n<td><span style=\"font-weight: 400;\">Evaluation of liabilities<\/span><\/td>\n<td><span style=\"font-weight: 400;\">(1,071)<\/span><\/td>\n<td><\/td>\n<td><span style=\"font-weight: 400;\">1,831<\/span><\/td>\n<\/tr>\n<tr>\n<td><span style=\"font-weight: 400;\">Revaluation of fair value of cryptoassets and counterparties<\/span><\/td>\n<td><span style=\"font-weight: 400;\">99,937<\/span><\/td>\n<td><\/td>\n<td><span style=\"font-weight: 400;\">51,830<\/span><\/td>\n<\/tr>\n<tr>\n<td><span style=\"font-weight: 400;\">Non-cash revenue from staking and blockchain rewards<\/span><\/td>\n<td><span style=\"font-weight: 400;\">(6,605)<\/span><\/td>\n<td><\/td>\n<td><span style=\"font-weight: 400;\">(8,723)<\/span><\/td>\n<\/tr>\n<tr>\n<td><span style=\"font-weight: 400;\">Non-cash costs from staking and blockchain rewards<\/span><\/td>\n<td><span style=\"font-weight: 400;\">4,287<\/span><\/td>\n<td><\/td>\n<td><span style=\"font-weight: 400;\">5,847<\/span><\/td>\n<\/tr>\n<tr>\n<td><span style=\"font-weight: 400;\">Finance and other income, net<\/span><\/td>\n<td><span style=\"font-weight: 400;\">(2,015)<\/span><\/td>\n<td><\/td>\n<td><span style=\"font-weight: 400;\">(517)<\/span><\/td>\n<\/tr>\n<tr>\n<td><span style=\"font-weight: 400;\">Taxes on income, net<\/span><\/td>\n<td><span style=\"font-weight: 400;\">16,791<\/span><\/td>\n<td><\/td>\n<td><span style=\"font-weight: 400;\">10,589<\/span><\/td>\n<\/tr>\n<tr>\n<td><b>Total adjustments<\/b><\/td>\n<td><b>118,592<\/b><\/td>\n<td><\/td>\n<td><b>68,155<\/b><\/td>\n<\/tr>\n<tr>\n<td><b>Changes in asset and liability items:<\/b><\/td>\n<td><\/td>\n<td><\/td>\n<td><\/td>\n<\/tr>\n<tr>\n<td><span style=\"font-weight: 400;\">Increase of counterparties<\/span><\/td>\n<td><span style=\"font-weight: 400;\">(194,072)<\/span><\/td>\n<td><\/td>\n<td><span style=\"font-weight: 400;\">(63,184)<\/span><\/td>\n<\/tr>\n<tr>\n<td><span style=\"font-weight: 400;\">Decrease of cryptoassets<\/span><\/td>\n<td><span style=\"font-weight: 400;\">197<\/span><\/td>\n<td><\/td>\n<td><span style=\"font-weight: 400;\">13,154<\/span><\/td>\n<\/tr>\n<tr>\n<td><span style=\"font-weight: 400;\">Increase of other receivables and prepaid expenses<\/span><\/td>\n<td><span style=\"font-weight: 400;\">(9,168)<\/span><\/td>\n<td><\/td>\n<td><span style=\"font-weight: 400;\">(7,029)<\/span><\/td>\n<\/tr>\n<tr>\n<td><span style=\"font-weight: 400;\">Increase of restricted cash<\/span><\/td>\n<td><span style=\"font-weight: 400;\">(82)<\/span><\/td>\n<td><\/td>\n<td><span style=\"font-weight: 400;\">(124)<\/span><\/td>\n<\/tr>\n<tr>\n<td><span style=\"font-weight: 400;\">Increase of user and omnibus accounts, net<\/span><\/td>\n<td><span style=\"font-weight: 400;\">99,928<\/span><\/td>\n<td><\/td>\n<td><span style=\"font-weight: 400;\">48,901<\/span><\/td>\n<\/tr>\n<tr>\n<td><span style=\"font-weight: 400;\">Decrease of accounts payable<\/span><\/td>\n<td><span style=\"font-weight: 400;\">(499)<\/span><\/td>\n<td><\/td>\n<td><span style=\"font-weight: 400;\">(670)<\/span><\/td>\n<\/tr>\n<tr>\n<td><span style=\"font-weight: 400;\">Increase (decrease) of accrued expenses and other payables<\/span><\/td>\n<td><span style=\"font-weight: 400;\">14,649<\/span><\/td>\n<td><\/td>\n<td><span style=\"font-weight: 400;\">(19,753)<\/span><\/td>\n<\/tr>\n<tr>\n<td><span style=\"font-weight: 400;\">Decrease of employee benefit liabilities, net<\/span><\/td>\n<td><span style=\"font-weight: 400;\">(601)<\/span><\/td>\n<td><\/td>\n<td><span style=\"font-weight: 400;\">(29)<\/span><\/td>\n<\/tr>\n<tr>\n<td><b>Adjustments: cash items<\/b><\/td>\n<td><b>(89,648)<\/b><\/td>\n<td><\/td>\n<td><b>(28,734)<\/b><\/td>\n<\/tr>\n<tr>\n<td><span style=\"font-weight: 400;\">Interest received (paid), net during the period<\/span><\/td>\n<td><span style=\"font-weight: 400;\">(1,151)<\/span><\/td>\n<td><\/td>\n<td><span style=\"font-weight: 400;\">967<\/span><\/td>\n<\/tr>\n<tr>\n<td><span style=\"font-weight: 400;\">Taxes paid, net during the period<\/span><\/td>\n<td><span style=\"font-weight: 400;\">(5,801)<\/span><\/td>\n<td><\/td>\n<td><span style=\"font-weight: 400;\">(5,557)<\/span><\/td>\n<\/tr>\n<tr>\n<td><b>Net cash provided by operating activities<\/b><\/td>\n<td><b>104,396<\/b><\/td>\n<td><\/td>\n<td><b>94,783<\/b><\/td>\n<\/tr>\n<tr>\n<td><b>Cash flows from investing activities:<\/b><\/td>\n<td><\/td>\n<td><\/td>\n<td><\/td>\n<\/tr>\n<tr>\n<td><span style=\"font-weight: 400;\">Purchase of intangible assets<\/span><\/td>\n<td><span style=\"font-weight: 400;\">(165)<\/span><\/td>\n<td><\/td>\n<td><span style=\"font-weight: 400;\">(57)<\/span><\/td>\n<\/tr>\n<tr>\n<td><span style=\"font-weight: 400;\">Increase of short-term deposits<\/span><\/td>\n<td><span style=\"font-weight: 400;\">(137,515)<\/span><\/td>\n<td><\/td>\n<td><span style=\"font-weight: 400;\">(86,000)<\/span><\/td>\n<\/tr>\n<tr>\n<td><span style=\"font-weight: 400;\">Decrease of short-term deposits<\/span><\/td>\n<td><span style=\"font-weight: 400;\">112,307<\/span><\/td>\n<td><\/td>\n<td><span style=\"font-weight: 400;\">75,000<\/span><\/td>\n<\/tr>\n<tr>\n<td><span style=\"font-weight: 400;\">Increase of long-term investments<\/span><\/td>\n<td><span style=\"font-weight: 400;\">(500)<\/span><\/td>\n<td><\/td>\n<td><span style=\"font-weight: 400;\">\u2014<\/span><\/td>\n<\/tr>\n<tr>\n<td><span style=\"font-weight: 400;\">Purchase of property and equipment<\/span><\/td>\n<td><span style=\"font-weight: 400;\">(2,122)<\/span><\/td>\n<td><\/td>\n<td><span style=\"font-weight: 400;\">(522)<\/span><\/td>\n<\/tr>\n<tr>\n<td><b>Net cash used in investing activities<\/b><\/td>\n<td><b>(27,995)<\/b><\/td>\n<td><\/td>\n<td><b>(11,579)<\/b><\/td>\n<\/tr>\n<tr>\n<td><b>Cash flows from financing activities:<\/b><\/td>\n<td><\/td>\n<td><\/td>\n<td><\/td>\n<\/tr>\n<tr>\n<td><span style=\"font-weight: 400;\">Exercise of options<\/span><\/td>\n<td><span style=\"font-weight: 400;\">1,638<\/span><\/td>\n<td><\/td>\n<td><span style=\"font-weight: 400;\">280<\/span><\/td>\n<\/tr>\n<tr>\n<td><span style=\"font-weight: 400;\">Repayment of lease liability<\/span><\/td>\n<td><span style=\"font-weight: 400;\">(1,391)<\/span><\/td>\n<td><\/td>\n<td><span style=\"font-weight: 400;\">(1,147)<\/span><\/td>\n<\/tr>\n<tr>\n<td><span style=\"font-weight: 400;\">Purchase of treasury shares<\/span><\/td>\n<td><span style=\"font-weight: 400;\">(101,102)<\/span><\/td>\n<td><\/td>\n<td><span style=\"font-weight: 400;\">\u2014<\/span><\/td>\n<\/tr>\n<tr>\n<td><b>Net cash used in financing activities<\/b><\/td>\n<td><b>(100,855)<\/b><\/td>\n<td><\/td>\n<td><b>(867)<\/b><\/td>\n<\/tr>\n<tr>\n<td><span style=\"font-weight: 400;\">Exchange differences on balances of cash and cash equivalents<\/span><\/td>\n<td><span style=\"font-weight: 400;\">(784)<\/span><\/td>\n<td><\/td>\n<td><span style=\"font-weight: 400;\">7,379<\/span><\/td>\n<\/tr>\n<tr>\n<td><b>Increase (decrease) in cash and cash equivalents<\/b><\/td>\n<td><b>(25,238)<\/b><\/td>\n<td><\/td>\n<td><b>89,716<\/b><\/td>\n<\/tr>\n<tr>\n<td><b>Cash and cash equivalents at beginning of period<\/b><\/td>\n<td><b>1,072,641<\/b><\/td>\n<td><\/td>\n<td><b>575,395<\/b><\/td>\n<\/tr>\n<tr>\n<td><b>Cash and cash equivalents at end of period<\/b><\/td>\n<td><b>1,047,403<\/b><\/td>\n<td><\/td>\n<td><b>665,111<\/b><\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<p><span style=\"font-weight: 400;\">3<\/span><span style=\"font-weight: 400;\">The comparative financial information has been adjusted to reflect the change in accounting policy regarding the classification of $5 million USDC as cash equivalents.<\/span><\/p>\n<p><b>Non-GAAP Financial Metrics and Key Performance Indicators<\/b><\/p>\n<p><span style=\"font-weight: 400;\">\u00a0This press release and the accompanying tables contain financial measures that are not calculated in accordance with International Financial Reporting Standards nor with Generally Accepted Accounting Principles (collectively \u201cGAAP\u201d) metrics, including Adjusted EBITDA, Adjusted Net Income and Adjusted Diluted EPS. The inclusion of the non-GAAP financial information is not intended to be considered in isolation or as a substitute for the financial information prepared and presented in accordance with GAAP. eToro believes these non-GAAP financial measures provide important supplemental information to management regarding financial and business trends used in assessing its results of operations. eToro believes excluding specified items provides a more meaningful comparison to the corresponding reporting periods and internal budgets and forecasts, assists investors in performing analysis that is consistent with financial models developed by investors and research analysts, provides management with a more relevant measure of operating performance and is more useful in assessing management performance.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">eToro urges its investors to review the reconciliations of the non-GAAP financial measures included in this press release to the most directly comparable GAAP financial measure set forth herein, and not to rely on any single financial measure to evaluate eToro\u2019s business.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">This press release also includes key performance indicators that eToro\u2019s management uses to help evaluate the business, measure its performance, identify trends, prepare financial projections and make business decisions. eToro\u2019s key performance indicators include Funded Accounts, Assets Under Administration and Net Contribution. Definitions of performance indicators can be found elsewhere in this press release.\u00a0<\/span><\/p>\n<p style=\"text-align: center;\"><b>ETORO GROUP LTD.<\/b><\/p>\n<p style=\"text-align: center;\"><b>RECONCILIATION OF NON-GAAP METRICS<\/b><\/p>\n<p style=\"text-align: center;\"><b>U.S. dollars in thousands<\/b><\/p>\n<table>\n<tbody>\n<tr>\n<td><\/td>\n<td><b>Three months ended<\/b><\/td>\n<td><\/td>\n<td><b>Three months ended<\/b><\/td>\n<\/tr>\n<tr>\n<td><\/td>\n<td><b>March 31, 2026<\/b><\/td>\n<td><\/td>\n<td><b>March 31, 2025<\/b><\/td>\n<\/tr>\n<tr>\n<td><\/td>\n<td><b>Unaudited<\/b><\/td>\n<td><\/td>\n<td><b>Unaudited<\/b><\/td>\n<\/tr>\n<tr>\n<td><\/td>\n<td><\/td>\n<td><\/td>\n<td><\/td>\n<\/tr>\n<tr>\n<td><b>Net income<\/b><\/td>\n<td><b>82,404<\/b><\/td>\n<td><\/td>\n<td><b>59,952<\/b><\/td>\n<\/tr>\n<tr>\n<td><span style=\"font-weight: 400;\">Finance expense, net<\/span><\/td>\n<td><span style=\"font-weight: 400;\">2,091<\/span><\/td>\n<td><\/td>\n<td><span style=\"font-weight: 400;\">(517)<\/span><\/td>\n<\/tr>\n<tr>\n<td><span style=\"font-weight: 400;\">Taxes on income<\/span><\/td>\n<td><span style=\"font-weight: 400;\">16,791<\/span><\/td>\n<td><\/td>\n<td><span style=\"font-weight: 400;\">10,589<\/span><\/td>\n<\/tr>\n<tr>\n<td><span style=\"font-weight: 400;\">Share-based payment expense<\/span><\/td>\n<td><span style=\"font-weight: 400;\">4,068<\/span><\/td>\n<td><\/td>\n<td><span style=\"font-weight: 400;\">4,287<\/span><\/td>\n<\/tr>\n<tr>\n<td><span style=\"font-weight: 400;\">Depreciation and amortization<\/span><\/td>\n<td><span style=\"font-weight: 400;\">3,216<\/span><\/td>\n<td><\/td>\n<td><span style=\"font-weight: 400;\">3,010<\/span><\/td>\n<\/tr>\n<tr>\n<td><span style=\"font-weight: 400;\">Employee non-cash expense<\/span><\/td>\n<td><span style=\"font-weight: 400;\">5,119<\/span><\/td>\n<td><\/td>\n<td><span style=\"font-weight: 400;\">(1,049)<\/span><\/td>\n<\/tr>\n<tr>\n<td><span style=\"font-weight: 400;\">Transaction <\/span><span style=\"font-weight: 400;\">related costs<\/span><\/td>\n<td><span style=\"font-weight: 400;\">\u2014<\/span><\/td>\n<td><\/td>\n<td><span style=\"font-weight: 400;\">2,091<\/span><\/td>\n<\/tr>\n<tr>\n<td><span style=\"font-weight: 400;\">Other expenses (income), net<\/span><\/td>\n<td><span style=\"font-weight: 400;\">(5,177)<\/span><\/td>\n<td><\/td>\n<td><span style=\"font-weight: 400;\">1,831<\/span><\/td>\n<\/tr>\n<tr>\n<td><b>Adjusted EBITDA<\/b><\/td>\n<td><b>108,512<\/b><\/td>\n<td><\/td>\n<td><b>80,194<\/b><\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<p style=\"text-align: center;\"><b>ETORO GROUP LTD.<\/b><\/p>\n<p style=\"text-align: center;\"><b>RECONCILIATION OF NET INCOME TO ADJUSTED NET INCOME<\/b><\/p>\n<p style=\"text-align: center;\"><b>U.S. dollars in thousands<\/b><\/p>\n<table>\n<tbody>\n<tr>\n<td><\/td>\n<td><b>Three months ended<\/b><\/td>\n<td><\/td>\n<td><b>Three months ended<\/b><\/td>\n<\/tr>\n<tr>\n<td><\/td>\n<td><b>March 31, 2026<\/b><\/td>\n<td><\/td>\n<td><b>March 31, 2025<\/b><\/td>\n<\/tr>\n<tr>\n<td><\/td>\n<td><b>Unaudited<\/b><\/td>\n<td><\/td>\n<td><b>Unaudited<\/b><\/td>\n<\/tr>\n<tr>\n<td><\/td>\n<td><\/td>\n<td><\/td>\n<td><\/td>\n<\/tr>\n<tr>\n<td><b>Net income<\/b><\/td>\n<td><b>82,404<\/b><\/td>\n<td><\/td>\n<td><b>59,952<\/b><\/td>\n<\/tr>\n<tr>\n<td><span style=\"font-weight: 400;\">Share-based payment expense<\/span><\/td>\n<td><span style=\"font-weight: 400;\">4,068<\/span><\/td>\n<td><\/td>\n<td><span style=\"font-weight: 400;\">4,287<\/span><\/td>\n<\/tr>\n<tr>\n<td><span style=\"font-weight: 400;\">Amortization<\/span><\/td>\n<td><span style=\"font-weight: 400;\">868<\/span><\/td>\n<td><\/td>\n<td><span style=\"font-weight: 400;\">838<\/span><\/td>\n<\/tr>\n<tr>\n<td><span style=\"font-weight: 400;\">Employee non-cash expense<\/span><\/td>\n<td><span style=\"font-weight: 400;\">5,119<\/span><\/td>\n<td><\/td>\n<td><span style=\"font-weight: 400;\">(1,049)<\/span><\/td>\n<\/tr>\n<tr>\n<td><span style=\"font-weight: 400;\">Transaction related costs<\/span><\/td>\n<td><span style=\"font-weight: 400;\">\u2014<\/span><\/td>\n<td><\/td>\n<td><span style=\"font-weight: 400;\">2,091<\/span><\/td>\n<\/tr>\n<tr>\n<td><span style=\"font-weight: 400;\">Other expenses (income), net<\/span><\/td>\n<td><span style=\"font-weight: 400;\">(6,147)<\/span><\/td>\n<td><\/td>\n<td><span style=\"font-weight: 400;\">1,831<\/span><\/td>\n<\/tr>\n<tr>\n<td><b>Adjusted net income before tax<\/b><\/td>\n<td><b>86,312<\/b><\/td>\n<td><\/td>\n<td><b>67,950<\/b><\/td>\n<\/tr>\n<tr>\n<td><\/td>\n<td><\/td>\n<td><\/td>\n<td><\/td>\n<\/tr>\n<tr>\n<td><span style=\"font-weight: 400;\">Tax impact<\/span><\/td>\n<td><span style=\"font-weight: 400;\">(662)<\/span><\/td>\n<td><\/td>\n<td><span style=\"font-weight: 400;\">(1,201)<\/span><\/td>\n<\/tr>\n<tr>\n<td><b>Adjusted net income<\/b><\/td>\n<td><b>85,650<\/b><\/td>\n<td><\/td>\n<td><b>66,749<\/b><\/td>\n<\/tr>\n<tr>\n<td><\/td>\n<td><\/td>\n<td><\/td>\n<td><\/td>\n<\/tr>\n<tr>\n<td><span style=\"font-weight: 400;\">Basic shares outstanding<\/span><\/td>\n<td><span style=\"font-weight: 400;\">84,155,367<\/span><\/td>\n<td><\/td>\n<td><span style=\"font-weight: 400;\">75,712,289<\/span><\/td>\n<\/tr>\n<tr>\n<td><\/td>\n<td><\/td>\n<td><\/td>\n<td><\/td>\n<\/tr>\n<tr>\n<td><span style=\"font-weight: 400;\">Diluted shares outstanding<\/span><\/td>\n<td><span style=\"font-weight: 400;\">94,177,135<\/span><\/td>\n<td><\/td>\n<td><span style=\"font-weight: 400;\">86,576,130<\/span><\/td>\n<\/tr>\n<tr>\n<td><\/td>\n<td><\/td>\n<td><\/td>\n<td><\/td>\n<\/tr>\n<tr>\n<td><b>Basic Non-GAAP EPS<\/b><\/td>\n<td><b>$1.02<\/b><\/td>\n<td><\/td>\n<td><b>$0.88<\/b><\/td>\n<\/tr>\n<tr>\n<td><\/td>\n<td><\/td>\n<td><\/td>\n<td><\/td>\n<\/tr>\n<tr>\n<td><b>Diluted Non-GAAP EPS<\/b><\/td>\n<td><b>$0.91<\/b><\/td>\n<td><\/td>\n<td><b>$0.77<\/b><\/td>\n<\/tr>\n<tr>\n<td><\/td>\n<td><\/td>\n<td><\/td>\n<td><\/td>\n<\/tr>\n<tr>\n<td><b>Basic GAAP EPS<\/b><\/td>\n<td><b>$0.98<\/b><\/td>\n<td><\/td>\n<td><b>$0.79<\/b><\/td>\n<\/tr>\n<tr>\n<td><\/td>\n<td><\/td>\n<td><\/td>\n<td><\/td>\n<\/tr>\n<tr>\n<td><b>Diluted GAAP EPS<\/b><\/td>\n<td><b>$0.86<\/b><\/td>\n<td><\/td>\n<td><b>$0.69<\/b><\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<p><b>Definitions <\/b><b>of Certain Metrics<\/b><\/p>\n<p><b>Adjusted EBITDA: <\/b><span style=\"font-weight: 400;\">Adjusted EBITDA is a non-GAAP financial metric that we define as net income adjusted to exclude finance and other expenses, net, taxes on income, share-based payment expense, depreciation and amortization, employee non-cash expense, one-time transaction costs and other expense.<\/span><\/p>\n<p><b>Adjusted EBITDA Margin: <\/b><span style=\"font-weight: 400;\">Adjusted EBITDA Margin is a non-GAAP financial metric that we define as Adjusted EBITDA divided by Net Contribution.<\/span><\/p>\n<p><b>Adjusted Diluted Earnings Per Share (Adjusted Diluted EPS): <\/b><span style=\"font-weight: 400;\">Adjusted Diluted EPS is a non-GAAP financial metric and is calculated by dividing the Adjusted Net Income attributable to common shareholders by the diluted shares outstanding during the period. Adjusted Diluted EPS excludes the impact of the same non-recurring or non-operational items to provide investors with a normalized measure of profitability on a per-share basis.<\/span><\/p>\n<p><b>Adjusted Net Income: <\/b><span style=\"font-weight: 400;\">Adjusted Net Income refers to a company\u2019s net income after making adjustments for non-recurring, one-time, or non-cash items such as restructuring charges, asset impairments, acquisition-related expenses, or gains\/losses from discontinued operations.<\/span><\/p>\n<p><b>Assets under administration (AUA): <\/b><span style=\"font-weight: 400;\">AUA reflects the aggregate fair value of assets held by users within the platform, including those held by third-party partners for execution or custody services, categorized as follows:<\/span><\/p>\n<ul>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Crypto: Includes all cryptocurrencies and users\u2019 crypto assets held in eToro digital wallets.<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Equities: Includes stocks, ETFs, and assets managed under the Spaceship program.<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Cash: Includes customers\u2019 uninvested cash (e.g., cash balances, eMoney balances, in-process cashouts), as well as cash used for margin or posted as collateral for leveraged positions.<\/span><\/li>\n<\/ul>\n<p><b>Funded Accounts: <\/b><span style=\"font-weight: 400;\">Funded Accounts are users who have completed KYC, AML and other onboarding processes, activated their account, deposited funds, executed at least one trade at any time and have a positive account balance (invested or uninvested). Funded Accounts represent the deepest level of our user acquisition funnel and are the users from whom we generate total commission.<\/span><\/p>\n<p><b>Interest Earning Assets: <\/b><span style=\"font-weight: 400;\">Interest Earning Assets are the average monthly balances of users\u2019 cash balances, corporate cash, users\u2019 total leveraged positions and stakeable cryptoassets.<\/span><\/p>\n<p><b>Invested amount per trade: <\/b><span style=\"font-weight: 400;\">The total invested amount divided by the total number of trades. For reporting purposes, we present this measure separately for capital markets (equities, commodities, and currencies) and for cryptoassets, in order to highlight trends across the two categories, given their unique characteristics.<\/span><b>\u00a0<\/b><\/p>\n<p><b>Net Contribution: <\/b><span style=\"font-weight: 400;\">Net Contribution reflects Total revenue and income, less the Cost of revenue from cryptoassets and Margin interest expense. We use Net Contribution to evaluate the net contributions of our users\u2019 activity on our platform before considering the overhead costs associated with our operations.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Net Contribution consists of the following five components, each representing revenue or income divided across our products based on the distinct patterns upon which we monetize users\u2019 activity on the platform. We evaluate the performance of our business and our success in both diversification and risk management across these five components:<\/span><\/p>\n<ul>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Net Trading Contribution (Equities, Commodities and Currencies) is equal to our Net trading income from equities, commodities and currencies.<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Net Trading Contribution (Cryptoassets) is equal to Revenue from cryptoassets plus Net trading income (loss) from cryptoasset derivatives less Cost of revenue from cryptoassets, excluding the net contributions from blockchain rewards and staking activity.<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Net Interest Contribution represents Net interest contribution from users plus Other interest income plus the net contributions of staking activity, less Margin interest expense.<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">eToro Money comprises the vast majority of our Currency conversion and other income. It represents the income earned from our money management services, including currency conversions, withdrawals, interchange on our debit card, transfers of cryptoassets, and fees relating to our cryptoasset wallet services.<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Subscriptions and Other is the remainder of Currency conversion and other income not attributable to eToro Money plus the net contributions of blockchain rewards.<\/span><\/li>\n<\/ul>\n<p><b>Net Income: <\/b><span style=\"font-weight: 400;\">Net income represents the company\u2019s total earnings or profit for a given period, calculated as total revenue minus all expenses, including operating costs, depreciation, interest, taxes, and other income or expenses. It reflects the company\u2019s overall profitability according to GAAP standards.<\/span><\/p>\n<p><b>Total Money Transfers:<\/b><span style=\"font-weight: 400;\"> Total money transfers are the cumulative value across the respective period of user deposits, withdrawals, and cross-currency trade funding via eToro Money IBAN.<\/span><\/p>\n<p><b>Trades: <\/b><span style=\"font-weight: 400;\">Trades represent the total number of orders that were placed by users and executed during the applicable period. Trades include self-directed and copy trades, and each trade reflects either the opening or closing of a position by a user.<\/span><\/p>\n<p><b>Cautionary Note Regarding Forward-Looking Statements<\/b><\/p>\n<p><span style=\"font-weight: 400;\">This press release contains forward-looking statements\u201d within the meaning of the \u201csafe harbor\u201d provisions of the Private Securities Litigation Reform Act of 1995, including but not limited to, statements regarding our financial outlook, market positioning development plans and growth strategy. These forward-looking statements are made as of the date they were first issued and were based on current expectations, estimates, forecasts and projections as well as the beliefs and assumptions of management. Words such as \u201coutlook,\u201d \u201cguidance,\u201d \u201cexpect,\u201d \u201canticipate,\u201d \u201cshould,\u201d \u201cbelieve,\u201d \u201chope,\u201d \u201ctarget,\u201d \u201cproject,\u201d \u201cplan,\u201d \u201cgoals,\u201d \u201cestimate,\u201d \u201cpotential,\u201d \u201cpredict,\u201d \u201cmay,\u201d \u201cwill,\u201d \u201cmight,\u201d \u201ccould,\u201d \u201cintend,\u201d \u201cshall\u201d and variations of these terms or the negative of these terms and similar expressions are intended to identify these forward-looking statements. Forward-looking statements are subject to a number of risks and uncertainties, many of which involve factors or circumstances that are beyond eToro\u2019s control. eToro\u2019s actual results could differ materially from those stated or implied in forward-looking statements due to a number of factors, including but not limited to market volatility and erratic market movements; failure to retain existing users or add new users; extreme competition; changes in the regulatory and legal framework under which we operate; regulatory inquiries and investigations; our estimates of our financial performance; interest rate fluctuations; the evolving cryptoasset market, including the regulations thereof; conditions related to our operations in Israel, including the ongoing war; risks related to data security and privacy and use of Open Source Software (\u201cOSS\u201d); risks related to artificial intelligence (\u201cAI\u201d); the ability to maintain the listing of our securities on Nasdaq; changes in general economic or political conditions; changes to accounting principles and guidelines; unexpected costs or expenses; and other factors described in \u201cRisk Factors\u201d in our Annual Report on Form 20-F for the fiscal year ended December 31, 2025, filed with the Securities and Exchange Commission (&#8220;SEC&#8221;) on March 2, 2026, as such factors may be updated from time to time in eToro\u2019s filings with the SEC, which are, or will be, accessible on the SEC\u2019s website at www.sec.gov.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Past performance is not necessarily indicative of future results. The forward-looking statements included in this press release represent eToro\u2019s views as of the date of this press release. eToro anticipates that subsequent events and developments will cause its views to change. eToro undertakes no intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events, or otherwise. These forward-looking statements should not be relied upon as representing eToro\u2019s views as of any date subsequent to the date of this press release.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Source: eToro Group Ltd.<\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Net Contribution of $258 million, up 19% YoY\u00a0 Net Income of $82 Million, up 37% YoY Adjusted EBITDA of $109 million, up 35% YoY\u00a0 4.02 million funded accounts, up 12% YoY\u00a0 New York \u2013 May 12, 2026 \u2013 eToro Group Ltd. (\u201ceToro\u201d, or the \u201cCompany\u201d) (NASDAQ: ETOR), the trading and investing platform, today announced financial&hellip;<\/p>\n","protected":false},"author":116,"featured_media":1178536,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"inline_featured_image":false,"footnotes":""},"categories":[6449],"tags":[],"asset_type":[],"class_list":["post-1262444","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-press-release"],"acf":[],"yoast_head":"<title>eToro Reports First Quarter 2026 Results - eToro<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.etoro.com\/en-us\/wp-json\/wp\/v2\/posts\/1262444\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"eToro Reports First Quarter 2026 Results - eToro\" \/>\n<meta property=\"og:description\" content=\"Net Contribution of $258 million, up 19% YoY\u00a0 Net Income of $82 Million, up 37% YoY Adjusted EBITDA of $109 million, up 35% YoY\u00a0 4.02 million funded accounts, up 12% YoY\u00a0 New York \u2013 May 12, 2026 \u2013 eToro Group Ltd. (\u201ceToro\u201d, or the \u201cCompany\u201d) (NASDAQ: ETOR), the trading and investing platform, today announced financial&hellip;\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.etoro.com\/en-us\/wp-json\/wp\/v2\/posts\/1262444\" \/>\n<meta property=\"og:site_name\" content=\"eToro\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/eToro\/\" \/>\n<meta property=\"article:published_time\" content=\"2026-05-12T11:15:27+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2026-05-12T11:16:08+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.etoro.com\/wp-content\/uploads\/2025\/11\/Press-release-NEW-featured-1200x630-1.png\" \/>\n\t<meta property=\"og:image:width\" content=\"1200\" \/>\n\t<meta property=\"og:image:height\" content=\"630\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/png\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@eToro\" \/>\n<meta name=\"twitter:site\" content=\"@eToro\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Ellen DiStefano\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"16 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/www.etoro.com\/en-us\/news-and-analysis\/latest-news\/press-release\/etoro-reports-q1-2026-results\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/www.etoro.com\/en-us\/news-and-analysis\/latest-news\/press-release\/etoro-reports-q1-2026-results\/\"},\"headline\":\"eToro Reports First Quarter 2026 Results\",\"datePublished\":\"2026-05-12T11:15:27+00:00\",\"dateModified\":\"2026-05-12T11:16:08+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/www.etoro.com\/en-us\/news-and-analysis\/latest-news\/press-release\/etoro-reports-q1-2026-results\/\"},\"wordCount\":3178,\"publisher\":{\"@id\":\"https:\/\/www.etoro.com\/en-us\/#organization\"},\"image\":{\"@id\":\"https:\/\/www.etoro.com\/en-us\/news-and-analysis\/latest-news\/press-release\/etoro-reports-q1-2026-results\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/www.etoro.com\/wp-content\/uploads\/2025\/11\/Press-release-NEW-featured-1200x630-1.png\",\"articleSection\":[\"Press Release\"],\"inLanguage\":\"en-us\"},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.etoro.com\/en-us\/news-and-analysis\/latest-news\/press-release\/etoro-reports-q1-2026-results\/\",\"url\":\"https:\/\/www.etoro.com\/en-us\/news-and-analysis\/latest-news\/press-release\/etoro-reports-q1-2026-results\/\",\"name\":\"eToro Reports First Quarter 2026 Results - 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