Discover Plus500 Q1 growth fueled by strategy, yielding strong results and shareholder returns. Explore their performance further.
Discover Plus500 Q1 growth fueled by strategy, yielding strong results and shareholder returns. Explore their performance further.
Plus500 reported its Q1 financial performance, showcasing notable revenue and customer acquisition highlights indicative of significant growth. The company’s quarterly revenue reached $215.6 million, marking a 4 percent increase compared to last year’s period and a significant 14 percent jump from the previous quarter. Among the revenue, customer income accounted for $169.6 million, while customer trading performance contributed $30.6 million, with the remainder from interest income.
In addition, the company revealed that its quarterly EBITDA stood at $102.6 million, representing a 2 percent increase year over year and a substantial 19 percent rise quarter over quarter. Despite a slight decrease in the EBITDA margin compared to the previous year’s first quarter, the margin showed improvement from the last quarter of 2023.
Plus500 also experienced significant growth in its customer base, adding 31,949 new customers during the quarter, marking a positive change of 13 percent year-over-year and a remarkable 61 percent increase month-over-month. However, the total number of active customers dropped by 2 percent compared to last year’s quarter but saw a 14 percent improvement quarter-over-quarter.
The average revenue per user on the platform was reported at $1,600, while the average user acquisition cost (AUAC) decreased to $1,320, indicating an improvement in customer acquisition efficiency. David Zruia, the CEO of Plus500, expressed satisfaction with the company’s performance, attributing it to its competitive advantages, strategic progress, and financial strength. He emphasized the company’s commitment to expanding into new markets, developing new products, and enhancing customer relationships.
Looking ahead, Plus500 plans to focus on key growth opportunities, including the expansion of its product offerings and market reach, as well as initiatives to deepen customer engagement and retention. Zruia remains optimistic about the company’s prospects, asserting its position as a diversified, global business with a clear strategy to deliver strong results and returns to its shareholders.
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