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

UP Fintech Holding (TIGR) posted quarterly Operating Expenses of -$102.8 million for Q4 2025, down 40.65% year-over-year from -$173.3 million in Q4 2024, and down 14.99% quarter-over-quarter from -$89.4 million in Q3 2025.

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 for Q4 2025 stood at -$102.8 million, down from -$89.4 million in the prior quarter.
  • The five-year high for Operating Expenses was -$45.5 million in Q2 2023, with the low at -$102.8 million in Q4 2025.
  • The 5-year median for Operating Expenses is -$54.7 million (2021), against an average of -$60.4 million.
  • The sharpest annual moves came in 2021 and 2022: Operating Expenses slumped 171.04% in 2021, then advanced 21.53% in 2022.
  • UP Fintech Holding's Operating Expenses stood at -$64.9 million in 2021, then gained by 21.53% to -$50.9 million in 2022, then slipped by 3.13% to -$52.5 million in 2023, then sank by 39.26% to -$73.1 million in 2024, then plunged by 40.65% to -$102.8 million in 2025.
  • Business Quant data shows TIGR's Operating Expenses at -$102.8 million in Q4 2025, -$89.4 million in Q3 2025, and -$71.0 million in Q2 2025.

Peer Comparison

# Company Market Cap Enterprise Value Gross Profit (Qtr) Opex (Qtr)
1 Morgan Stanley 338.83 Bn 205.30 Bn - 13.90 Bn
2 Goldman Sachs 316.34 Bn -660.01 Bn - 11.67 Bn
3 Schwab Charles 220.55 Bn 135.80 Bn - 3.29 Bn
4 Futu Holdings 121.48 Bn 105.59 Bn 733.58 Mn -200.78 Mn
5 Robinhood Markets 84.07 Bn 66.74 Bn 1.20 Bn 734.00 Mn
6 Iren 68.17 Bn 65.95 Bn 104.86 Mn 81.75 Mn
7 ATIF Holdings 45.42 Bn 45.42 Bn - -
8 Interactive Brokers 39.54 Bn -3.28 Bn - 381.00 Mn
9 LPL Financial Holdings 28.27 Bn 25.57 Bn - 4.67 Bn
10 UP Fintech Holding 12.67 Bn 12.68 Bn - -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