UP Fintech Holding (TIGR) Operating Expenses (2018 - 2025)

UP Fintech Holding (TIGR) recorded quarterly Operating Expenses of -$102.8 million in Q4 2025, down 14.99% quarter-over-quarter from -$89.4 million in Q3 2025, and down 40.65% on a YoY basis from -$173.3 million in Q4 2024.

UP Fintech Holding (TIGR) Operating Expenses (2018 - 2025) Analysis & Trends

UP Fintech Holding's Operating Expenses history runs 8 years deep, the most recent figure standing at -$102.8 million for Q4 2025.

  • In Q4 2025, Operating Expenses fell 40.65% year-over-year to -$102.8 million; the TTM figure through Dec 2025 stood at -$330.3 million (down 30.94% YoY), while the FY2025 annual figure was $330.3 million, up 30.94% from the prior year.
  • Operating Expenses was -$102.8 million for Q4 2025 at UP Fintech Holding, down from -$89.4 million in the prior quarter.
  • In the past five years, Operating Expenses ranged from a high of -$45.5 million in Q2 2023 to a low of -$102.8 million in Q4 2025.
  • Historically, Operating Expenses has averaged -$60.4 million across 5 years, with a median of -$54.7 million in 2021.
  • The sharpest annual moves came in 2021 and 2022: Operating Expenses tumbled 171.04% in 2021, then climbed 21.53% in 2022.
  • A 5-year view of Operating Expenses shows it stood at -$64.9 million in 2021, then advanced by 21.53% to -$50.9 million in 2022, then dropped by 3.13% to -$52.5 million in 2023, then slumped by 39.26% to -$73.1 million in 2024, then sank by 40.65% to -$102.8 million in 2025.
  • The last three Operating Expenses figures came in at -$102.8 million (Q4 2025), -$89.4 million (Q3 2025), and -$71.0 million (Q2 2025), per Business Quant data.

Peer Comparison

# Company Market Cap Enterprise Value Gross Profit (Qtr) Opex (Qtr)
1 SOL Strategies 94,425.84 Bn 94,425.84 Bn - 386,258.80
2 Morgan Stanley 349.82 Bn 216.29 Bn - 13.47 Bn
3 Goldman Sachs 333.85 Bn -603.70 Bn - 10.43 Bn
4 Schwab Charles 160.31 Bn 115.33 Bn - 3.29 Bn
5 Robinhood Markets 97.28 Bn 92.64 Bn 960.00 Mn 656.00 Mn
6 Interactive Brokers 42.79 Bn 53.38 Bn - 381.00 Mn
7 LPL Financial Holdings 23.54 Bn 22.51 Bn - 4.45 Bn
8 Tradeweb Markets 21.20 Bn 19.96 Bn - 330.51 Mn
9 Iren 19.97 Bn 17.75 Bn 144.76 Mn 81.75 Mn
10 UP Fintech Holding - - - -102.85 Mn

Historic Data

Download Data
DateValue
Dec 31, 2025 -102.85 Mn
Sep 30, 2025 -89.44 Mn
Jun 30, 2025 -70.95 Mn
Mar 31, 2025 -67.09 Mn
Dec 31, 2024 -73.12 Mn
Sep 30, 2024 -59.34 Mn
Jun 30, 2024 -69.03 Mn
Mar 31, 2024 -50.78 Mn
Dec 31, 2023 -52.51 Mn
Sep 30, 2023 -48.78 Mn
Jun 30, 2023 -45.51 Mn
Mar 31, 2023 -45.91 Mn
Dec 31, 2022 -50.92 Mn
Sep 30, 2022 -47.29 Mn
Jun 30, 2022 -51.85 Mn
Mar 31, 2022 -54.90 Mn
Dec 31, 2021 -64.89 Mn
Sep 30, 2021 -54.43 Mn
Jun 30, 2021 -62.51 Mn
Mar 31, 2021 -46.70 Mn