eToro Group (NASDAQ: ETOR) posted its strongest quarter since going public, reporting first-quarter net income of $82 million and net contribution of $258 million, up 37% and 19% respectively from the same period a year earlier.
Funded accounts reached 4.02 million and assets under administration climbed 15% to $17 billion, the trading platform said in a statement today (Tuesday).
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Adjusted EBITDA reached $109 million and adjusted diluted earnings per share rose to $0.91 from $0.77 a year earlier.
“I’m incredibly proud of the eToro team for delivering our strongest quarterly financial results as a public company," Yoni Assia, CEO and Co-Founder of eToro, commented.
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"We also saw acceleration in product launches with many new apps within the eToro App Store, AI-powered Agent Portfolios, and an integration with xAI for Tori, our AI agent."
Commodities Take Over eToro’s Revenue Mix
CFO Meron Shani said the results were "supported by a surge in commodities trading," language the company tied to its multi-asset business model.
The standout shift sits inside the trading commission breakdown. Net trading income from equities, commodities and currencies rose 71% year-over-year to $166 million, with the company reporting that commodities alone accounted for around 60% of trading commissions, up from 16% in Q2 2025.
Commodity volumes increased nearly fourfold compared with the same quarter a year earlier, eToro said.
That shift extends a rotation FinanceMagnates.com flagged earlier this year, when eToro users pivoted out of crypto and into capital markets during February, lifting capital markets trade activity by 81% year-over-year.
Total capital markets trades reached 243 million in Q1 2026, up 90% from a year earlier, while cryptoasset trades fell to 10 million from 20 million.
Q1 2026 vs. Q1 2025 at a Glance
Metric | Q1 2026 | Q1 2025 | YoY change |
Net contribution | $258M | $217M | +19% |
Net income (GAAP) | $82M | $60M | +37% |
Adjusted EBITDA | $109M | $80M | +35% |
Adjusted diluted EPS | $0.91 | $0.77 | +18% |
Funded accounts | 4.02M | 3.58M | +12% |
Assets under administration | $17.0B | $14.8B | +15% |
Capital markets trades | 243M | 128M | +90% |
Cryptoasset trades | 10M | 20M | -50% |
Listed Rivals Post Mixed Q1 Numbers
The print places eToro at the stronger end of the listed retail brokerage cohort reporting first-quarter results. Plus500 (LSE: PLUS) raised its full-year 2026 outlook after posting Q1 revenue of $242 million, up 18% year-over-year, with a five-year record on customer income.
Warsaw-listed XTB delivered the steepest quarterly print of the group, with operating revenue up 88.5% to roughly $301 million and net profit climbing 176%, on the back of 370,000 new client additions.
Robinhood (NASDAQ: HOOD) reported Q1 revenue of $1.07 billion, up 15%, but its cryptocurrency revenue fell 47% to $134 million, with the gap filled by event contracts and options. Interactive Brokers' first-quarter account growth came in at 31% even as trading activity softened from March.
The group points to a common pattern: heightened volatility in commodities and equities is propping up trading revenue, while crypto lines are compressing across multi-asset platforms.
eToro, the social trading and investing platform, has just released its Q1 2026 earnings report.
— eToro (@eToro) May 12, 2026
Watch as CEO @yoniassia and CFO Meron Shani break down the financial results and discuss new product launches. https://t.co/6ET01EB99w
New York Crypto, Japanese Stocks, AI App Store
Product launches piled up in the quarter. The company activated its New York BitLicense and Money Transmitter License to offer crypto trading in the state, added Japanese equities to bring its exchange coverage to 26 markets, and extended 24/7 trading to select commodities, equities and indices.
It also opened an eToro App Store for third-party developers, embedded xAI's Grok 4.2 sentiment data into its Tori AI assistant, and rolled out Agent Portfolios for AI-driven sub-account trading, which the firm said keeps the main portfolio segregated from automated strategies.
In wealth, eToro said UK ISA assets under management grew 15-fold year-over-year, while the European rollout of the eToro Money card saw new card issuances rise 2.2 times quarter-over-quarter.
Zengo Closes, April KPIs Extend the Run
The Zengo acquisition closed on April 30, adding a self-custodial wallet with more than two million users to eToro's stack. The company has tied the deal to its push into prediction markets and perpetuals, segments where Trust Wallet, Kalshi and Polymarket are also positioning.
April preliminary metrics showed funded accounts at 4.07 million, AUA at $18.7 billion (up 19% YoY), and total money transfers of $1.4 billion, up 53%.
Capital markets trades reached 63 million in the month, a 50% year-over-year increase, although the average invested amount per trade fell 48% to $197, which eToro attributed to a higher share of copy and automated trading.
The Bnei Brak, Israel-based company spent $101 million repurchasing its own shares in the quarter, drawing on the buyback program it expanded in February alongside its full-year 2025 results, and ended March with $1.3 billion in cash, cash equivalents and short-term investments.
