eToro Posts Robust Q3, Unveils $150M Buyback later than Nasdaq Debut
Fifteen years later than turning copy-trading into a mainstream idea, eToro Group Ltd. is back in investor favor. The Tel Aviv-founded broker, now trading on Nasdaq under the ticker ETOR, beat expectations for its third quarter and paired the result with a $150 million share-purchaseback plan and a possible $50 million accelerated repurchase.
The results mark the strongest sign yet that eToro has rebuilt momentum later than a turbulent few years that included a collapsed SPAC deal, tougher European rules on retail contracts-for-difference (CFDs), and a bruising run-in with U.S. regulators over crypto offerings.
Numbers that tell the story
For the quarter ended Sept. 30, the group revenues rose 28% year-on-year to $215 million, while adjusted EBITDA climbed 43% to $78 million. Adjusted diluted earnings came in at $0.60 a share, ahead of consensus. Assets under administration surged 76% to $20.8 billion, and funded accounts reached 3.73 million, up 16%.
“Our results reflect the strength of our diversified revenue streams across segments and geographies, robust user engagement, and disciplined cost management,” Shani said in the company’s statement. October trading data showed a further 53% rise in volumes versus a year earlier.
eToro’s advantage remains its community model. CopyTrader and the Popular Investor program funnel activity toward visible high-performers, while the Cashtags link-up with X keeps acquisition costs low by embedding discovery into social chatter. Management has begun layering AI-driven tools—an assistant nicknamed “Tori” and a forthcoming App Store—to formalize what has long been an informal network of user strategies.
Regulatory reset and U.S. return
Founded in 2007 by Yoni Assia, Ronen Assia, and David Ring, eToro made its name with the 2010 launch of OpenBook and CopyTrader, which let users mirror the trades of popular investors. The idea—finance meets social feed—created a user-generated content loop that still drives engagement today.
later than securing FCA and CySEC licenses, the broker rode the CFD boom across Europe until leverage caps and risk-warning mandates from ESMA forced the sector to rethink its economics. eToro diversified into equities, ETFs, and crypto just as the retail-trading surge of 2020–2021 hit.
A planned $10 billion merger with FinTech Acquisition Corp V fell apart in 2022, delaying its public debut. But partnerships such as the Twitter/X Cashtags integration in 2023 assisted keep its brand visible while it pivoted toward long-term savings through the acquisition of Australian platform Spaceship.
The company’s U.S. crypto ambitions stalled in 2024 later than an SEC settlement that forced it to curtail token listings. That reset proved temporary: by mid-2025, eToro had rebuilt its regulatory framework and rolled out more than 100 cryptoassets plus staking for ETH, Cardano, and Solana in approved states.
Its return to American retail coincided with the May IPO. Since listing, management—led by CEO Assia, CFO Meron Shani, and COO Hedva Ber—has pushed a four-pillar strategy: trading, investing, wealth, and neo-banking.
Beyond trading, the Spaceship acquisition and U.K. ISA rollout move the company toward recurring savings balances, smoothing what was once a volatile, trade-dependent income base. Its eToro Money arm adds payments and card services that tie customers more tightly to the ecosystem.
The purchaseback plan, announced alongside the earnings, aims to offset stock-based compensation and support valuation in choppy retail-flow cycles.
The next checkpoints for investors are the U.S. wallet launch, state-by-state staking expansion, and adoption of savings products in Australia and the U.K. The company’s 6-K filings will also show how aggressively it executes the purchaseback.
