eToro (ETOR) Operating Expenses (2024 - 2025)
eToro (ETOR) posted quarterly Operating Expenses of $98.3 million for Q4 2025, down 2.53% year-over-year from $100.8 million in Q4 2024, and up 2.65% on a QoQ basis from $95.8 million in Q3 2025.
eToro (ETOR) Operating Expenses (2024 - 2025) Analysis & Trends
eToro (ETOR) has reported Operating Expenses for 2 consecutive years, with $98.3 million the latest figure, recorded in Q4 2025.
- In Q4 2025, Operating Expenses fell 2.53% year-over-year to $98.3 million; the TTM figure through Dec 2025 stood at $405.8 million (up 12.6% YoY), while the FY2025 annual figure was $405.8 million, up 12.6% from the prior year.
- Operating Expenses came in at $98.3 million for Q4 2025 at eToro, up from $95.8 million in the prior quarter.
- The five-year high for Operating Expenses was $123.5 million in Q2 2025, with the low at $79.9 million in Q3 2024.
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Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Opex (Qtr) |
|---|---|---|---|---|---|
| 1 | Morgan Stanley | 330.70 Bn | 197.17 Bn | - | 13.47 Bn |
| 2 | Goldman Sachs | 309.79 Bn | -627.76 Bn | - | 10.43 Bn |
| 3 | Schwab Charles | 167.21 Bn | 122.24 Bn | - | 3.29 Bn |
| 4 | Futu Holdings | 111.36 Bn | 109.19 Bn | 733.58 Mn | -200.78 Mn |
| 5 | Robinhood Markets | 97.69 Bn | 93.05 Bn | 960.00 Mn | 656.00 Mn |
| 6 | LPL Financial Holdings | 23.49 Bn | 22.47 Bn | - | 4.45 Bn |
| 7 | Tradeweb Markets | 21.59 Bn | 20.34 Bn | - | 330.51 Mn |
| 8 | Circle Internet | 15.14 Bn | 13.62 Bn | 35.01 Mn | 242.35 Mn |
| 9 | Iren | 14.46 Bn | 12.24 Bn | 144.76 Mn | 81.75 Mn |
| 10 | eToro | 3.37 Bn | 2.10 Bn | 78.44 Mn | 98.30 Mn |
Historic Data
Download Data| Date | Value |
|---|---|
| Dec 31, 2025 | 98.30 Mn |
| Sep 30, 2025 | 95.76 Mn |
| Jun 30, 2025 | 123.50 Mn |
| Mar 31, 2025 | 88.21 Mn |
| Dec 31, 2024 | 100.84 Mn |
| Sep 30, 2024 | 79.91 Mn |
| Jun 30, 2024 | 90.14 Mn |
| Mar 31, 2024 | 89.46 Mn |