eToro's Q1 beat across all key metrics (Net Contribution, Net Income, Adjusted EBITDA) with accelerating April KPIs signals strong operational momentum. The Zengo acquisition adds crypto wallet capabilities. Watch for continued user growth and trading volume trends in Q2, particularly in commodities and the newly launched 24/7 trading offering.
Price Chart
Executive Summary
eToro reported strong Q1 2026 results with Net Contribution up 19% YoY to $258M, Net Income up 37% to $82M, and Adjusted EBITDA up 35% to $109M. The company also announced the acquisition of Zengo, a self-custodial crypto wallet provider, which closed on April 30, 2026. April KPIs showed continued momentum with AUA up 19% YoY to $18.7B and funded accounts up 13%.
Key Facts
- Net Contribution of $258M, up 19% YoY from $217M
- Net Income of $82M, up 37% YoY from $60M
- Adjusted EBITDA of $109M, up 35% YoY from $80M
- Adjusted Diluted EPS of $0.91, up from $0.77 YoY
- Funded accounts reached 4.02M, up 12% YoY
- Assets under Administration of $17.0B, up 15% YoY
- Cash, cash equivalents and short-term investments of $1.3B as of March 31, 2026
- Acquisition of Zengo closed on April 30, 2026
- April 2026 AUA of $18.7B, up 19% YoY
- April 2026 capital markets trades of 63M, up 50% YoY
- April 2026 total money transfers of $1.4B, up 53% YoY
- Commodities trading accounted for ~60% of trading commissions in Q1, volumes up nearly 4x YoY
Financial Impact
Net Contribution +$41M YoY, Net Income +$22M YoY, Adjusted EBITDA +$29M YoY
Risk Factors
- Cryptoasset revenue declined YoY ($2.15B vs $3.50B) though cost of revenue also declined proportionally
- Invested amount per trade declined significantly in April (capital markets -48% YoY, crypto -22% YoY)
- Crypto trades in April down 32% YoY
- Treasury share repurchases of $101M in Q1 reduced cash balance
- Integration risk from Zengo acquisition
Market Snapshot
Investment Themes
Documents Analyzed
This report is based on 5 SEC documents filed with EDGAR.
| Document | Accession Number |
|---|---|
| 6-K Filing (Primary) | 0001213900-26-054714 |
| Document: ea0290161-6k_etoro.htm | 0001213900-26-054714 |
| Document: 0001213900-26-054714-index-headers.html | 0001213900-26-054714 |
| Document: 0001213900-26-054714-index.html | 0001213900-26-054714 |
| Document: 0001213900-26-054714.txt | 0001213900-26-054714 |
Track record builds as more directional reports settle.
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
Oct 13, 2026 14d ago | Press Release | $24.86 | awaiting T+20 | — | $23.69 (−4.71%) |
Aug 28, 2026 8w ago | 144 | $31.03 $25.82 | ▼ −16.79% | ▼ −17.05% | $23.69 (−23.65%) |
Aug 11, 2026 11w ago | 6-K | $29.33 $30.60 | ▲ +4.33% | ▲ +5.39% | $23.69 (−19.23%) |
May 29, 2026 21w ago | 6-K | $41.67 $39.47 | ▼ −5.28% | ▼ −3.98% | $23.69 (−43.15%) |
May 18, 2026 23w ago | Insider Cluster | $40.72 $39.02 | ▼ −4.17% | ▼ −5.76% | $23.69 (−41.82%) |
May 14, 2026 23w ago | 144 | $41.58 $38.52 | ▼ −7.36% | ▼ −6.50% | $23.69 (−43.03%) |
May 12, 2026 24w ago | 6-K | $37.61 $37.76 | ▲ +0.40% | ▲ +2.13% | $23.69 (−37.01%) |
May 12, 2026 24w ago | Press Release | $37.61 $37.76 | ▲ +0.40% | ▲ +2.13% | $23.69 (−37.01%) |
Apr 21, 2026 27w ago | 6-K | $37.36 $40.72 | ▲ +8.99% | ▲ +4.08% | $23.69 (−36.59%) |
Apr 15, 2026 27w ago | Press Release | $36.93 $37.61 | ▲ +1.84% | ▼ −4.20% | $23.69 (−35.85%) |
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