UP Fintech (TIGR) Swings to First-Quarter Loss as Trading Revenue Slumps

UP Fintech Holding Ltd. (TIGR) reported a net loss of $5.2 million for the first quarter ended March 31, 2026, swinging from a profit of $1.1 million a year earlier, the online brokerage said on June 2, 2026. Total revenue fell 23% to $60.3 million, dragged down by a 38% plunge in commissions as retail trading activity cooled in U.S. and Hong Kong markets. The company also booked a $8.7 million mark-to-market loss on strategic investments, further pressuring the bottom line. CEO Wu Tianhua attributed the decline to subdued market sentiment and higher interest expenses linked to the firm’s convertible bond program. Despite the loss, the client account total grew 12% year-over-year to 2.4 million, signaling user acquisition remains robust.