eToro reported a 77% year-over-year increase in GAAP net income during the second quarter of 2026, significantly outpacing the 9% growth in net contribution as stronger equity trading activity and continued account growth supported profitability.
GAAP net income increased to $53.5 million from $30.2 million a year earlier. Diluted GAAP EPS rose to $0.58 from $0.31. On an adjusted basis, net income increased 17% to $62.8 million, while adjusted diluted EPS increased to $0.68 from $0.56.
Net contribution reached $229 million compared with $210 million in Q2 2025, an increase of 9%. eToro said the improvement was driven primarily by increased equities trading activity. Adjusted EBITDA also increased 9% to $78.1 million from $71.9 million.
The company’s broader financial statements show a substantial shift in the mix of trading activity. Net trading income from equities, commodities and currencies increased to $141.6 million from $114 million, while revenue from cryptoassets declined to approximately $1.35 billion from $1.91 billion. Cryptoasset cost of revenue declined correspondingly to approximately $1.35 billion from $1.88 billion.
eToro uses net contribution to better reflect the economics of customer activity after accounting for cryptoasset cost of revenue and margin interest expense. The metric combines contributions from equities, commodities, currencies, cryptoassets, interest income, eToro Money and other subscription-related activity.
Customer growth also remained strong. Funded accounts increased 18% year-over-year to 4.28 million from 3.63 million, driven primarily by user acquisition and retention. Assets under administration increased 10% to $19.2 billion from $17.5 billion.
Management highlighted the benefits of eToro’s multi-asset model as users shifted between market categories. More than 60% of users who traded commodities from Q4 2025 through Q1 2026 subsequently traded equities during Q2, and nearly nine in ten of those users had also traded crypto on the platform. eToro believes that ability to move between asset classes can help sustain engagement as market conditions change.
The company is simultaneously expanding across trading, investing, wealth management and neo-banking. During Q2, eToro launched a new mobile app built around its Tori AI agent, introduced eToro Edge for active traders, added sub-accounts and expanded AI-powered investing capabilities through Agent Portfolios.
The Agent Portfolios product enables users to connect AI agents to dedicated portfolios while retaining control over investment objectives, capital allocation and risk parameters. eToro’s App Store has also expanded to more than 75 applications created by developers, partners and Pro Investors.
Beyond trading, eToro said assets in its UK Cash ISA offering increased 15x year-over-year. The company also introduced eToro Work, which connects payroll directly with investing, while the number of eToro Money cards issued across Europe increased more than 30% sequentially.
eToro continues to expand through acquisitions as well. The company announced an agreement to acquire TradeZero, a U.S.-based online brokerage focused on active traders. The transaction represents eToro’s third acquisition signed in 2026. It previously completed acquisitions of Zengo and Bit2C, strengthening its crypto self-custody capabilities.
The company ended June with approximately $945.9 million of cash and cash equivalents and $267.3 million of short-term investments. During the first half of 2026, eToro also spent approximately $189.1 million purchasing treasury shares.
KEY QUOTES:
“Technology continues to reshape how people invest and manage their money. Throughout our history, eToro has embraced these shifts, from social investing to crypto, and today AI and on-chain finance represent the next chapter in that evolution.”
“Together with another quarter of profitable growth, these milestones demonstrate the strength of our diversified business model and reinforce our confidence in the long-term opportunity ahead.”
Yoni Assia, Co-Founder and CEO of eToro
“We delivered compelling financial performance through a combination of diversified revenue streams, strong funded accounts growth, and increased customer engagement.”
Meron Shani, CFO of eToro
