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 | 333.21 Bn | 173.07 Bn | - | 13.90 Bn |
| 2 | Goldman Sachs | 311.14 Bn | -665.21 Bn | - | 11.67 Bn |
| 3 | Schwab Charles | 196.95 Bn | 123.36 Bn | - | 3.40 Bn |
| 4 | Robinhood Markets | 93.19 Bn | 75.81 Bn | 1.20 Bn | 734.00 Mn |
| 5 | Interactive Brokers | 41.71 Bn | -22.59 Bn | - | 440.00 Mn |
| 6 | LPL Financial Holdings | 29.06 Bn | 26.36 Bn | - | 4.67 Bn |
| 7 | Tradeweb Markets | 23.03 Bn | 20.97 Bn | - | 313.68 Mn |
| 8 | Circle Internet | 21.70 Bn | 19.97 Bn | 288.85 Mn | 254.49 Mn |
| 9 | Futu Holdings | 16.14 Bn | 214.18 Mn | 733.58 Mn | -200.78 Mn |
| 10 | UP Fintech Holding | 13.78 Bn | 13.78 Bn | - | -89.19 Mn |
Historic Data
Download Data| Date | Value |
|---|---|
| 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 |