TIGR on Nasdaq
UP Fintech Holding Ltd
Security brokers company based in Beijing, Cayman Islands. Summary from the record
Price unavailable
Last updated Oct 19, 2026.
Overview
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- TickerTIGR on Nasdaq2
- IndustrySecurity Brokers, Dealers & Flotation Companies2
- HeadquartersBeijing, China2
- Incorporated inCayman Islands4
- Business address18F,No.16 Taiyanggong Rd,Chaoyang Dist., Beijing, 1000204
- Filer categoryLarge accelerated filer4
- Legal formcompany limited by shares2
- LEI213800JJDNMAG3L84P542
- StatusActive2
- LEI statusLapsed (not renewed)2
- Registered addressC/O SERTUS INCORPORATIONS (CAYMAN) LIMITED, KY1-1104 Grand Cayman, Cayman Islands2
- Registered withGeneral Registry, 3319672
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UP Fintech Holding Limited, known commercially in the Asia-Pacific region as “Tiger Brokers”, is a Cayman Islands exempted company incorporated in January 2018 and operating under the Companies Law of the Cayman Islands. As of the date of this report, our authorized share capital is US$50,000 divided into 5,000,000,000 shares.5 From its latest annual report
Financials
From the company’s reports to the SEC. Every number links to the filing it came from.
Key numbers, fiscal 2025
What sells
Revenue by product, business segment and region, as the company reports it to the SEC.
Products and services
Commissions brought in 40% of the revenue UP Fintech Holding Ltd broke down this way in fiscal 2025.
Products and services by year
| Products and services | 2023 | 2024 | 2025 |
|---|---|---|---|
| Commissions | $92.6M | $159.0M | $266.8M |
| Interests income | $149.3M | $191.8M | $257.0M |
| Product and Service, Other | $18.4M | $29.4M | $77.5M |
| Wealth management service | $704.1K | $929.7K | $19.9M |
| Ipo Distribution Services | $4.1M | $9.3M | $18.2M |
| Currency Exchange Service | $5.3M | $9.5M | $16.6M |
| Financing Service | $12.2M | $11.3M | $10.7M |
Regions
NZ brought in 36% of the revenue UP Fintech Holding Ltd broke down this way in fiscal 2025.
Regions by year
| Regions | 2023 | 2024 | 2025 |
|---|---|---|---|
| NZ | $117.3M | $147.2M | $219.6M |
| SGMember | $66.7M | $91.2M | $163.3M |
| United States | $71.9M | $124.7M | $156.9M |
| Other Geographic Areas | $12.9M | $25.3M | $70.0M |
| KY | $3.6M | $3.1M | $2.3M |
Where the money goes
Where each dollar of revenue went, fiscal 2025
- Research and development16¢$100.0M
- Other costs38¢$231.3M
- Interest12¢$73.4M
- Income tax6¢$36.0M
- Profit28¢$171.5M
Out of $612.1M in revenue.3
Where each dollar of operating cash went, fiscal 2025
- Kept or used elsewhere100¢$1.3B
Out of $1.3B of cash from operations.3
Financial statements
No quarterly figures reported.
Every line of the income statement as filed: the last 3 fiscal years, latest first.3
| Period ending | 2025-12-31 | 2024-12-31 | 2023-12-31 |
|---|---|---|---|
| Interest expense | -$73.4M | -$60.8M | -$47.0M |
| Total net revenues | $538.7M | $330.7M | $225.5M |
| Execution and clearing | -$20.5M | -$14.7M | -$9.1M |
| Employee compensation and benefits (including share-based compensation of US$10,147,362, US$9,736,901 and US$15,609,141 for the years ended December 31, 2023, 2024 and 2025, respectively) | -$167.2M | -$122.4M | -$100.8M |
| Occupancy, depreciation and amortization | -$10.5M | -$8.6M | -$9.4M |
| Communication and market data | -$46.5M | -$38.9M | -$30.8M |
| Marketing and branding | -$49.5M | -$28.5M | -$20.9M |
| General and administrative | -$36.2M | -$39.3M | -$21.8M |
| Total operating cost and expenses | -$330.3M | -$252.3M | -$192.7M |
| Others, net | -$939.0K | $3.3M | $13.1M |
| Income before income taxes | $207.4M | $81.8M | $46.0M |
| Income tax expense | -$36.0M | -$20.4M | -$13.0M |
| Net income | $171.5M | $61.4M | $33.0M |
| Net (loss) income attributable to non-controlling interests | $48.9K | -$4.5K | -$98.3K |
| Accretion of Redeemable Non-controlling Interests to Redemption Value | -$533.2K | -$630.5K | -$542.2K |
| Net income attributable to ordinary shareholders of UP Fintech | $170.9M | $60.7M | $32.6M |
| Basic | $0.06 | $0.03 | $0.01 |
| Diluted | $0.06 | $0.02 | $0.01 |
| Basic | 2.7B shares | 2.4B shares | 2.3B shares |
| Diluted | 2.8B shares | 2.5B shares | 2.4B shares |
| Unrealized (loss) gain on available-for-sale securities (net of tax effect of nil, nil and nil for the years ended December 31, 2023, 2024 and 2025, respectively) | $2.2M | $343.9K | -$450.3K |
| Change in cumulative foreign currency translation adjustment | $19.2M | -$9.0M | -$545.5K |
| Total Comprehensive income | $192.8M | $52.7M | $32.0M |
| Total Comprehensive (loss) income attributable to non-controlling interests | $36.9K | $3.1K | -$92.5K |
| Accretion of redeemable non-controlling interests to redemption value | -$533.2K | -$630.5K | -$542.2K |
| Total Comprehensive income attributable to ordinary shareholders of UP Fintech | $192.3M | $52.0M | $31.6M |
| Share-based compensation | $15.6M | $9.7M | $10.1M |
| Unrealized gain (loss) on available-for-sale securities, net of tax effect | $0 | $0 | $0 |
| Revenues from related parties | $612.1M | $391.5M | $272.5M |
| Interest expense | -$2.1M | -$373.0K | |
| Communication and market data | -$100.0K | -$116.2K | -$150.4K |
No quarter-by-quarter statement was filed.
No quarterly figures reported.
Every line of the balance sheet as filed: the last 4 fiscal years (annual) or 4 quarters (quarterly), latest first.3
| Period ending | 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 |
|---|---|---|---|---|
| Cash and cash equivalents | $791.0M | $393.6M | $322.6M | |
| Cash-segregated for regulatory purpose | $3.4B | $2.5B | ||
| Term deposits | $2.1M | $1.1M | ||
| Receivables from customers (net of allowance of US$15,284,002 and US$5,050,501 as of December 31, 2024 and 2025) | $1.8B | $1.1B | ||
| Receivables from brokers, dealers, and clearing organizations (net of allowance of nil as of December 31, 2024 and 2025) | $2.0B | $2.3B | ||
| Financial instruments held, at fair value | $85.5M | $75.5M | ||
| Prepaid expenses and other current assets | $34.0M | $17.6M | ||
| Total current assets | $8.2B | $6.3B | ||
| Long-term deposits | $0 | $1.4M | ||
| Right-of-use assets | $11.7M | $10.9M | ||
| Property, equipment and intangible assets, net | $14.4M | $15.4M | ||
| Crypto assets held | $4.3M | |||
| Goodwill | $2.5M | $2.5M | $2.5M | |
| Long-term investments | $9.8M | $7.7M | ||
| Equity method investment | $10.6M | $10.2M | ||
| Other non-current assets | $10.9M | $6.8M | ||
| Deferred tax assets | $10.4M | $8.6M | ||
| Total assets | $8.2B | $6.4B | ||
| Payables to customers | $5.1B | $3.6B | ||
| Payables to brokers, dealers and clearing organizations | $1.9B | $1.9B | ||
| Accrued expenses and other current liabilities (including accrued expenses and other current liabilities of the consolidated VIEs without recourse to the Group of US$10,624,181 and US$16,083,646 as of December 31, 2024 and 2025, respectively) | $111.7M | $67.3M | ||
| Convertible bonds - current | $111.2M | $0 | ||
| Total current liabilities | $7.3B | $5.6B | ||
| Convertible bonds - non-current | $51.0M | $159.5M | ||
| Lease liabilities - non-current (including lease liabilities - non-current of the consolidated VIEs without recourse to the Group of US1,292,591 and US$705,038 as of December 31, 2024 and 2025, respectively) | $4.2M | $5.9M | ||
| Total liabilities | $7.4B | $5.7B | ||
| Redeemable non-controlling interests | $4.9M | $7.2M | ||
| Total Mezzanine equity | $4.9M | $7.2M | $6.7M | |
| Additional paid-in capital | $634.2M | $619.0M | ||
| Statutory reserve | $15.6M | $12.4M | ||
| Retained earnings | $208.4M | $37.8M | ||
| Treasury stock (10,429,305 shares as of December 31, 2024 and 2025) | -$2.2M | -$2.2M | ||
| Accumulated other comprehensive (loss) income | $9.5M | -$11.9M | ||
| Total UP Fintech shareholders' equity | $865.5M | $655.2M | ||
| Non-controlling interests | -$275.1K | -$287.9K | ||
| Total equity | $865.2M | $654.9M | $488.7M | $447.0M |
| Total liabilities, mezzanine equity and equity | $8.2B | $6.4B | ||
| Allowance of receivables from customers | $5.1M | $15.3M | $991.3K | |
| Allowance of receivables from brokers, dealers, and clearing organizations | $0 | $0 | ||
| Lease liabilities, current | $6.8M | $4.2M | ||
| Deferred tax liabilities, net | $1.7M | $2.1M | ||
| Treasury Stock, shares | 10.4M shares | 10.4M shares |
| Period ending | 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 |
|---|---|---|---|---|
| Cash and cash equivalents | $791.0M | $393.6M | $322.6M | |
| Cash-segregated for regulatory purpose | $3.4B | $2.5B | ||
| Term deposits | $2.1M | $1.1M | ||
| Receivables from customers (net of allowance of US$15,284,002 and US$5,050,501 as of December 31, 2024 and 2025) | $1.8B | $1.1B | ||
| Receivables from brokers, dealers, and clearing organizations (net of allowance of nil as of December 31, 2024 and 2025) | $2.0B | $2.3B | ||
| Financial instruments held, at fair value | $85.5M | $75.5M | ||
| Prepaid expenses and other current assets | $34.0M | $17.6M | ||
| Total current assets | $8.2B | $6.3B | ||
| Long-term deposits | $0 | $1.4M | ||
| Right-of-use assets | $11.7M | $10.9M | ||
| Property, equipment and intangible assets, net | $14.4M | $15.4M | ||
| Crypto assets held | $4.3M | |||
| Goodwill | $2.5M | $2.5M | $2.5M | |
| Long-term investments | $9.8M | $7.7M | ||
| Equity method investment | $10.6M | $10.2M | ||
| Other non-current assets | $10.9M | $6.8M | ||
| Deferred tax assets | $10.4M | $8.6M | ||
| Total assets | $8.2B | $6.4B | ||
| Payables to customers | $5.1B | $3.6B | ||
| Payables to brokers, dealers and clearing organizations | $1.9B | $1.9B | ||
| Accrued expenses and other current liabilities (including accrued expenses and other current liabilities of the consolidated VIEs without recourse to the Group of US$10,624,181 and US$16,083,646 as of December 31, 2024 and 2025, respectively) | $111.7M | $67.3M | ||
| Convertible bonds - current | $111.2M | $0 | ||
| Total current liabilities | $7.3B | $5.6B | ||
| Convertible bonds - non-current | $51.0M | $159.5M | ||
| Lease liabilities - non-current (including lease liabilities - non-current of the consolidated VIEs without recourse to the Group of US1,292,591 and US$705,038 as of December 31, 2024 and 2025, respectively) | $4.2M | $5.9M | ||
| Total liabilities | $7.4B | $5.7B | ||
| Redeemable non-controlling interests | $4.9M | $7.2M | ||
| Total Mezzanine equity | $4.9M | $7.2M | $6.7M | |
| Additional paid-in capital | $634.2M | $619.0M | ||
| Statutory reserve | $15.6M | $12.4M | ||
| Retained earnings | $208.4M | $37.8M | ||
| Treasury stock (10,429,305 shares as of December 31, 2024 and 2025) | -$2.2M | -$2.2M | ||
| Accumulated other comprehensive (loss) income | $9.5M | -$11.9M | ||
| Total UP Fintech shareholders' equity | $865.5M | $655.2M | ||
| Non-controlling interests | -$275.1K | -$287.9K | ||
| Total equity | $865.2M | $654.9M | $488.7M | $447.0M |
| Total liabilities, mezzanine equity and equity | $8.2B | $6.4B | ||
| Allowance of receivables from customers | $5.1M | $15.3M | $991.3K | |
| Allowance of receivables from brokers, dealers, and clearing organizations | $0 | $0 | ||
| Lease liabilities, current | $6.8M | $4.2M | ||
| Deferred tax liabilities, net | $1.7M | $2.1M | ||
| Treasury Stock, shares | 10.4M shares | 10.4M shares |
Cash flow is reported year to date, not quarter by quarter, so there are no separate quarterly figures.
Every line of the cash flow as filed: the last 3 fiscal years, latest first.3
| Period ending | 2025-12-31 | 2024-12-31 | 2023-12-31 |
|---|---|---|---|
| Net income | $171.5M | $61.4M | $33.0M |
| Share-based compensation | $15.6M | $9.7M | $10.1M |
| Depreciation and amortization | $2.9M | $2.6M | $2.8M |
| Fair value change of financial instruments held, at fair value | -$2.9M | -$10.2M | -$16.1M |
| Loss on disposal of subsidiaries | $331.8K | ||
| Gain from equity investments, net of impairments | -$225.8K | -$210.5K | -$6.9K |
| Allowance for doubtful accounts | $1.3M | $14.3M | $363.4K |
| Loss on disposal of property and equipment | $721.5K | ||
| Foreign currency exchange loss (gain) | -$7.8M | -$4.1M | $3.1M |
| Deferred tax (benefit) expense | -$1.7M | $829.4K | $3.2M |
| Interest expense from convertible bonds | $2.7M | $2.6M | $2.6M |
| Financial instruments held, at fair value | -$8.1M | $363.0M | -$249.2M |
| Receivables from customers | -$730.7M | -$313.9M | -$109.0M |
| Receivables from brokers, dealers and clearing organizations | $272.8M | -$1.8B | $415.1M |
| Amounts due from/to related parties | $66.7M | -$18.0M | $6.5M |
| Prepaid expenses and other current assets | -$18.1M | $1.2M | -$4.7M |
| Operating lease right-of-use assets | -$793.9K | -$1.8M | $4.9M |
| Other non-current assets | -$4.5M | -$2.1M | -$551.0K |
| Payables to customers | $1.5B | $661.3M | -$83.1M |
| Payables to brokers, dealers and clearing organizations | -$10.9M | $1.8B | -$23.8M |
| Accrued expenses and other current liabilities | $45.6M | $24.8M | $4.6M |
| Operating lease liabilities | $920.7K | $1.1M | -$5.0M |
| Deferred income | $0 | -$819.8K | -$1.4M |
| Net cash (used in) provided by operating activities | $1.3B | $828.0M | -$6.6M |
| Purchase of property, equipment and intangible assets | -$5.5M | -$1.6M | -$2.8M |
| Payment for long-term investments | $0 | -$500.0K | |
| Payment for equity method investment | -$10.0M | ||
| Cash received from disposal of a subsidiary | $388.3K | ||
| Purchase of term deposits | -$196.7K | -$4.2M | |
| Maturity of term deposits | $470.8K | $2.8M | $74.7K |
| Advances to employees | -$1.2M | $269.4K | -$342.7K |
| Dividend received | $44.2K | $6.9K | $6.9K |
| Net cash used in investing activities | -$5.7M | -$8.7M | -$7.8M |
| Proceeds received from redeemable non-controlling interests | $0 | $1.7M | |
| Net proceeds received from follow-on public offering (net of offering cost of US$835,813) | $103.7M | ||
| Repurchase of preferred shares from redeemable non-controlling interests | -$3.0M | ||
| Proceeds received from issuance of Class A Ordinary Shares upon settlement of share-based awards | $100.9K | $85.1K | $140.4K |
| Net cash provided by (used in) financing activities | -$2.9M | $103.8M | $1.8M |
| Increase (decrease) in cash, cash equivalents and restricted cash | $1.3B | $923.1M | -$12.5M |
| Effect of exchange rate changes | $26.6M | -$4.6M | -$3.5M |
| Income taxes paid (net of refunds) | $26.1M | $11.3M | $13.3M |
| Net of offering cost | $835.8K |
No quarter-by-quarter statement was filed.
Leadership
Who has led UP Fintech Holding Ltd, and when. Pick a name to see everywhere that person has worked.
Chief executive
- Chief executive officerTianhua Wu Mar 18, 2026 to now12
Board members and other officers (3)
- Key PersonnelMing Dong Mar 18, 2026 to now13
- Board memberTianhua Wu Mar 18, 2026 to now12
- Board memberConor Chia-Hung Yang Apr 1, 2026 to now14
Timeline
- Mar 18, 2026New chief executive Tianhua Wu becomes CEO12
Filings
93 filings to the SEC since October 2021: 5 annual reports, 8 insider forms, 14 large holders, 66 other. The latest 20:
- Aug 26, 20266-K EDGAR
- Jun 29, 20264 EDGAR
- Jun 29, 20264 EDGAR
- Jun 25, 2026144 EDGAR
- Jun 16, 2026SCHEDULE 13G/A EDGAR
- Jun 2, 20266-K EDGAR
- May 22, 20266-K EDGAR
- Apr 24, 202620-F EDGAR
- Apr 1, 20263 EDGAR
- Mar 19, 20264 EDGAR
- Mar 19, 20266-K EDGAR
- Mar 18, 20263 EDGAR
- Mar 18, 20263 EDGAR
- Mar 18, 20263 EDGAR
- Mar 18, 20263 EDGAR
- Feb 13, 2026SCHEDULE 13G/A EDGAR
- Feb 13, 2026SCHEDULE 13G/A EDGAR
- Dec 4, 20256-K EDGAR
- Nov 14, 2025SCHEDULE 13G/A EDGAR
- Nov 13, 2025SCHEDULE 13G/A EDGAR
The 93 filings since October 2021 can be filtered by form type and year here when JavaScript is on.
Every filing from the last five years, summarized. The full record is on SEC EDGAR.
Insider trades
1 open-market trades by officers, directors and large owners since October 2021: 0 buys and 1 sales. Grants, option exercises and gifts are left out.
| Date | Who | Trade | Shares | Price | Value | Filing |
|---|---|---|---|---|---|---|
| Jun 25, 2026 | LIU JIANDirector | Sale | 9,333 | $4.60 | $42.9K | Form 4 |
From Forms 4 filed with the SEC.
Major holders
Investors who own more than 5% of the shares must tell the SEC: a 13D if they may seek to influence the company, a 13G if they hold passively.
- Avenir Tech LtdSCHEDULE 13G/A, 2 filings Apr 29, 2025 to Jun 16, 202615
- SUSQUEHANNA SECURITIES, LLCSCHEDULE 13G/A, 2 filings Aug 14, 2025 to Feb 13, 202616
- Tianhua WuSCHEDULE 13G/A, 5 filings Feb 11, 2022 to Feb 13, 202617
- Xiaomi CorpSCHEDULE 13G/A, 1 filing Nov 14, 202518
- JANE STREET GROUP, LLCSCHEDULE 13G/A, 2 filings Aug 14, 2025 to Nov 13, 202519
- Tigerex Holding LtdSCHEDULE 13G, 1 filing Dec 17, 202420
- Interactive Brokers LLC - ATSSC 13D/A, 1 filing Oct 10, 202421
Held by these funds
The largest holders among investment managers' 13F reports for the quarter ending Jun 30, 2026, the top 25 of 100. Change is in shares since the quarter before.
| Fund | Shares | Value | Share of the fund | Change |
|---|---|---|---|---|
| Avenir Tech Ltd | 21,811,000 | $96.0M | 15.7% | +11,464,913 |
| Sparta 24 Ltd. | 6,759,673 | $29.7M | 27.3% | +951,406 |
| Renaissance Technologies LLC | 3,320,500 | $14.6M | 0.0% | +1,538,434 |
| Capital International Investors | 2,190,703 | $9.6M | 0.0% | −3,085,273 |
| Arrowstreet Capital, Limited Partnership | 2,162,495 | $9.5M | 0.0% | −1,853,677 |
| BlackRock, Inc. | 2,043,660 | $9.0M | 0.0% | −851,374 |
| Quinn Opportunity Partners LLC | 1,920,204 | $8.4M | 0.4% | +1,286,283 |
| Morgan Stanley | 1,630,177 | $7.2M | 0.0% | +795,806 |
| Nuveen, LLC | 1,590,954 | $7.0M | 0.0% | −38,629 |
| Millennium Management LLC | 1,313,974 | $5.8M | 0.0% | +1,278,216 |
| Point72 Asset Management, L.P. | 1,242,406 | $5.5M | 0.0% | New |
| Marshall Wace, Llp | 1,145,281 | $5.0M | 0.0% | +409,538 |
| Marex Group Ltd | 1,057,745 | $4.7M | 0.0% | +1,032,993 |
| Goldman Sachs Group Inc | 979,810 | $4.3M | 0.0% | −567,118 |
| Susquehanna International Group, Llp | 782,402 | $3.4M | 0.0% | −1,973,354 |
| Trexquant Investment LP | 778,788 | $3.4M | 0.0% | −73,778 |
| State Street Corp | 734,661 | $3.2M | 0.0% | −74,244 |
| UBS Group AG | 704,105 | $3.1M | 0.0% | −450,071 |
| Bnp Paribas Financial Markets | 650,729 | $2.9M | 0.0% | +482,712 |
| Susquehanna Fundamental Investments, LLC | 598,226 | $2.6M | 0.0% | +235,723 |
| Deutsche Bank Ag\ | 540,181 | $2.4M | 0.0% | +3,115 |
| Two Sigma Investments, LP | 520,202 | $2.3M | 0.0% | +506,002 |
| Walleye Trading LLC | 494,211 | $2.2M | 0.0% | +390,218 |
| Citadel Advisors LLC | 469,705 | $2.1M | 0.0% | +355,861 |
| Boston Partners | 237,105 | $1.0M | 0.0% | +101,121 |
13F reports cover disclosed long positions in U.S. stocks only.
Sources
The numbers on this page point here. Each one links to the record it came from.
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- 12SEC EDGARTianhua Wu, Chief executive officer
- 13SEC EDGARMing Dong, Key Personnel
- 14SEC EDGARConor Chia-Hung Yang, Board member
- 15
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- 21