Tiger Brokers (TIGR, Financial) released its unaudited financial results for the third quarter ending September 30, 2024. The company reported a record revenue of $101 million, marking a sequential increase of 15.6% and a year-over-year increase of 44.1%. Additionally, it achieved a non-GAAP net profit attributable to shareholders of $20.1 million, which represents a 286.5% rise sequentially and a 25.6% increase from the previous year.
In the third quarter, Tiger Brokers added 60,000 new global account clients, bringing the total to 2.37 million, which is a 10.2% increase year-on-year. The firm also gained 51,000 new deposit funding clients, resulting in a 19.3% year-on-year growth, reaching a total of 1.033 million clients.
The company experienced significant activity in market trading, with the total transaction volume soaring by 103.1% year-on-year to $163 billion. Furthermore, net client deposits remained robust, contributing to a 6.7% sequential increase and a 115.9% year-on-year surge in total client assets, reaching a record $40.8 billion.
CEO Wu Tianhua highlighted that the quarter brought considerable business growth due to enhanced product experiences, with single-quarter revenues exceeding $100 million and net profits reaching a three-year high. The firm also surpassed its annual target with 150,000 new deposit clients already secured this year, while global user trading enthusiasm drove transaction volumes to double year-on-year.
