EToro Group reported fourth-quarter net contribution of $227 million and GAAP net income of $69 million, beating analyst estimates of $0.64 per share with $0.71 actual.
Shares rose as much as 19% on the day as the Israel-based trading platform outperformed crypto-focused rivals Robinhood and Coinbase, both of which posted weaker-than-expected results.
Full-year 2025 net contribution reached $868 million, up 10% from $788 million in 2024. GAAP net income for the year rose 12% to $216 million, while assets under administration grew 11% year-over-year to $18.5 billion.
Crypto Weakness, Commodities Surge
Fourth-quarter cryptocurrency trading volume fell to $3.59 billion, down from $5.8 billion in the same period the year before - a 38% decline. The shortfall was offset by increased equities and commodities activity as investors rotated toward higher-volatility assets.
CEO Yoni Assia said on an analyst call that some cryptocurrency users had begun shifting to gold and silver trading.
"I do think there's somewhat of a convergence from crypto, which now has lower volatility, to gold, silver and other commodities that have higher volatility," Assia said.
Read also: Bitmine Accumulates 4.37M ETH At $2,000 Levels Despite $6B Unrealized Losses
Weak January Data Tempers Outlook
Despite the strong annual print, early 2026 data shows continued softening in cryptocurrency activity. January cryptocurrency trade count fell 50% year-over-year, and the average invested amount per cryptocurrency trade dropped 34% to $182.
Total January trades across all asset classes reached 74 million, up 55% year-over-year, with total money transfers rising 68% - suggesting users shifted activity rather than abandoned the platform.
Adjusted EBITDA for the fourth quarter declined 19% year-over-year to $87 million, reflecting higher product investment costs. The company announced a $100 million increase to its share repurchase program, with approximately $50 million in accelerated buybacks planned.
EToro ended the quarter with $1.3 billion in cash and short-term investments and 3.81 million funded accounts.
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