David Bonachea Martinez @bonacasino: "🔍 I'm a Pro Investor..."

Spain

🔍 I'm a Pro Investor on eToro and I just read their quarterly results. Here's what the numbers are telling me — from the inside. I've been managing my portfolio on the platform for a while, with followers copying my moves. So when eToro reports earnings, I don't read them just as a shareholder. I read them as a user who lives the product every single day. And what I see in Q2 2026, I like. The most important headline isn't net income up 77% year-over-year — even though that's an extraordinary number. The most important headline is this: eToro no longer depends on crypto. For years, eToro's business was tightly linked to the crypto market cycle. When Bitcoin went up, revenues surged. When it fell, the business suffered. It was a structural dependency that made it very hard to value the company with any consistency. Q2 2026 results show something different. The equities, commodities and currencies business generated $ 141M in Net Trading Income — 24% growth year-over-year. Crypto, meanwhile, fell 30%. And yet total Net Contribution still grew 9% and profits surged. That's real diversification working in practice. As a platform user, I can confirm it. There are more and more tools being built for the long-term investor — Smart Portfolios, sub-accounts, the UK Cash ISA with 15x year-over-year AuM growth, eToro Wealth, eToro Work connecting payroll directly with investing. The product is evolving into something much closer to a full financial platform than a crypto broker with a green logo. The user numbers back it up too — 4.28 million funded accounts, 18% year-over-year growth, consistent quarter after quarter. There is one warning sign I won't ignore. July KPIs were weaker — AUA down 5% year-over-year, crypto trades collapsed 73% and invested amount per trade fell 50%. July wasn't an easy month and it could put pressure on Q3. But the long-term read doesn't change. A company growing users at 18%, multiplying net income, buying back $ 189M of its own shares in six months, and building a platform where I personally invest and manage real money — that's a thesis I understand and one I believe in. Not financial advice. This is the perspective of someone who uses the product, manages real money on it, and also holds shares in the company. $MSFT (Microsoft) $GOLD $AMZN (Amazon.com Inc) $ETOR (eToro Group LTD) $SPX500

Not investment advice. The author may have financial interests in the mentioned instruments.