GAIN Capital Holdings, Inc. (NYSE: GCAP), a provider of online trading services, has announced its financial results for the second quarter and first half of 2016 according to an official company press release.

Q2 2016 Highlights

GAIN reported net revenue of $108.3 million, down from $111.5 million when compared to Q1 2015 on a year-on-year basis and down from $115.6 million during Q1 2016 reflecting a -6.3 percent QoQ decrease. Adjusted EBITDA was $27.6 million for Q2, up from $9.0 million over the same period last year.

Join the iFX EXPO Asia and discover your gateway to the Asian Markets

Net income for the quarter was $10.8 million, up from a $7.1 million loss in the second quarter of 2015 and up from $8.4 million in Q1 2016.

Take the lead from today’s leaders. FM London Summit, 14-15 November, 2016. Register here!

First Half 2016 Results

For H1 2016, GAIN reported net revenue of $223.8 million, up from $204.4 million recorded for the same period in 2015, while adjusted EBITDA was $59.4 million for H1 2016, up from $28.9 million over the same period last year.

Net income for the first half of 2016 was $19.2 million, up from a $1.7 million loss in H1 2015.

Glenn Stevens, CEO of GAIN Capital, commented: “Our second quarter and first half results reflect the benefits of GAIN’s diversification strategy and successful execution of expense management initiative.”

“For the trailing twelve months ended June 30, 2016, GAIN delivered over $450 million of revenue, $31 million of net income and approximately $111 million of adjusted EBITDA with the second quarter of 2016 representing the fourth consecutive quarter that GAIN has delivered more than $20 million of adjusted EBITDA.”

“In addition, we successfully handled customer trading leading up to and following the EU referendum highlighting GAIN’s risk management as a core competency”.

July Operating Metrics

GAIN has also released its July FX volume figures revealing an OTC trading volume of $212.7 billion, a decrease of 8.2 percent from June 2016 and 44.3 percent from July 2015.

The company’s Institutional Segment volumes were $173.6 billion, a decrease of 18.2 percent from June 2016 and an increase of 10.7 percent from July 2015.