The Q1 beat and accelerating April KPIs (capital markets trades +50% YoY, AUA +19%) signal strong momentum entering Q2. The Zengo acquisition expands crypto wallet capabilities. Monitor Q2 guidance on the earnings call — if management raises the full-year outlook, the stock could re-rate higher. The $101M buyback in Q1 suggests management confidence.
Price Chart
Executive Summary
eToro reported Q1 2026 GAAP diluted EPS of $0.86 (vs consensus $0.70, beat by 22.9%) and total revenue of $2.44B. Net Contribution rose 19% YoY to $258M, GAAP net income increased 37% to $82M, and Adjusted EBITDA grew 35% to $109M. The strong beat was driven by a surge in commodities trading (60% of trading commissions, volumes up ~4x YoY), with funded accounts up 12% to 4.02M and AUA up 15% to $17.0B.
Key Financial Metrics
Key Facts
- GAAP diluted EPS $0.86 vs consensus $0.70 — beat by 22.9%
- Total revenue $2.44B (includes $2.15B cryptoasset revenue); Net Contribution $258M, +19% YoY
- GAAP net income $82M, +37% YoY; Adjusted EBITDA $109M, +35% YoY
- Commodities trading accounted for ~60% of trading commissions; volumes nearly 4x YoY
- Funded accounts 4.02M, +12% YoY; AUA $17.0B, +15% YoY
- April 2026 KPIs: AUA $18.7B (+19% YoY), funded accounts 4.07M (+13% YoY), capital markets trades 63M (+50% YoY)
- Acquisition of Zengo (self-custodial crypto wallet) closed April 30, 2026
- Cash & equivalents $1.3B; $101M spent on treasury share repurchases in Q1
Financial Impact
EPS beat consensus by $0.16 (22.9%); Net Contribution beat implied consensus by ~$25M (10.7%); Adjusted EBITDA $109M vs $80M YoY
Risk Factors
- Cryptoasset revenue ($2.15B) is volatile and tied to market conditions; cost of crypto revenue was $2.17B, leaving thin net contribution from crypto
- Invested amount per trade in capital markets fell 48% YoY to $197, indicating smaller trade sizes despite higher volume
- Crypto trades in April fell 32% YoY — crypto engagement may be softening
- Regulatory risks (BitLicense, global crypto rules) and Israel conflict exposure
Market Snapshot
Investment Themes
Documents Analyzed
This report is based on 1 press release from GlobeNewswire.
| Document | Accession Number |
|---|---|
| PRESS-RELEASE Data (Synthetic) | press-3292651 |
Track record builds as more directional reports settle.
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
Oct 13, 2026 13d ago | Press Release | $24.86 | awaiting T+20 | — | $23.52 (−5.39%) |
Aug 28, 2026 8w ago | 144 | $31.03 $25.82 | ▼ −16.79% | ▼ −17.05% | $23.52 (−24.20%) |
Aug 11, 2026 10w ago | 6-K | $29.33 $30.60 | ▲ +4.33% | ▲ +5.39% | $23.52 (−19.81%) |
May 29, 2026 21w ago | 6-K | $41.67 $39.47 | ▼ −5.28% | ▼ −3.98% | $23.52 (−43.56%) |
May 18, 2026 23w ago | Insider Cluster | $40.72 $39.02 | ▼ −4.17% | ▼ −5.76% | $23.52 (−42.24%) |
May 14, 2026 23w ago | 144 | $41.58 $38.52 | ▼ −7.36% | ▼ −6.50% | $23.52 (−43.43%) |
May 12, 2026 24w ago | 6-K | $37.61 $37.76 | ▲ +0.40% | ▲ +2.13% | $23.52 (−37.46%) |
May 12, 2026 24w ago | Press Release | $37.61 $37.76 | ▲ +0.40% | ▲ +2.13% | $23.52 (−37.46%) |
Apr 21, 2026 27w ago | 6-K | $37.36 $40.72 | ▲ +8.99% | ▲ +4.08% | $23.52 (−37.04%) |
Apr 15, 2026 27w ago | Press Release | $36.93 $37.61 | ▲ +1.84% | ▼ −4.20% | $23.52 (−36.31%) |
US Market Status
Subscribe to SecBot
Get Real-Time SEC Filing Intelligence
Comprehensive SEC filing analysis delivered the moment filings hit EDGAR. Sentiment scoring, impact analysis, and actionable insights for every material event.
Create a free account Live analysis, Telegram alerts, watchlists and the MCP server for subscribers