eToro (ETOR) Cost of Revenue (2024 - 2025)

eToro (ETOR) posted quarterly Cost of Revenue of $3.8 billion for Q4 2025, down 34.04% year-over-year from $5.8 billion in Q4 2024, and down 6.14% on a QoQ basis from $4.0 billion in Q3 2025.

eToro (ETOR) Cost of Revenue (2024 - 2025) Analysis & Trends

eToro (ETOR) has reported Cost of Revenue for 2 consecutive years, with $3.8 billion the latest figure, recorded in Q4 2025.

  • In Q4 2025, Cost of Revenue fell 34.04% year-over-year to $3.8 billion; the TTM figure through Dec 2025 stood at $13.6 billion (up 9.6% YoY), while the FY2025 annual figure was $13.6 billion, up 9.6% from the prior year.
  • Cost of Revenue came in at $3.8 billion for Q4 2025 at eToro, down from $4.0 billion in the prior quarter.
  • The five-year high for Cost of Revenue was $5.8 billion in Q4 2024, with the low at $1.5 billion in Q3 2024.
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Peer Comparison

# Company Market Cap Enterprise Value Gross Profit (Qtr) Cost of Rev (Qtr)
1 Morgan Stanley 330.70 Bn 197.17 Bn - -
2 Goldman Sachs 309.79 Bn -627.76 Bn - -
3 Schwab Charles 167.21 Bn 122.24 Bn - -
4 Futu Holdings 111.36 Bn 109.19 Bn 733.58 Mn 65.09 Mn
5 Robinhood Markets 97.69 Bn 93.05 Bn 960.00 Mn 107.00 Mn
6 LPL Financial Holdings 23.49 Bn 22.47 Bn - -
7 Tradeweb Markets 21.59 Bn 20.34 Bn - -
8 Circle Internet 15.14 Bn 13.62 Bn 35.01 Mn 6.62 Mn
9 Iren 14.46 Bn 12.24 Bn 144.76 Mn 39,000.00
10 eToro 3.37 Bn 2.10 Bn 78.44 Mn 3.80 Bn

Historic Data

Download Data
DateValue
Dec 31, 2025 3.80 Bn
Dec 31, 2025 3.80 Bn
Sep 30, 2025 4.04 Bn
Sep 30, 2025 4.04 Bn
Jun 30, 2025 2.06 Bn
Jun 30, 2025 2.06 Bn
Mar 31, 2025 3.68 Bn
Mar 31, 2025 3.68 Bn
Dec 31, 2024 5.76 Bn
Dec 31, 2024 5.76 Bn
Sep 30, 2024 1.52 Bn
Sep 30, 2024 1.52 Bn
Jun 30, 2024 1.81 Bn
Jun 30, 2024 1.81 Bn
Mar 31, 2024 3.31 Bn
Mar 31, 2024 3.31 Bn