eToro Shares Jump 20% After Q4 Earnings Beat

eToro shares surged more than 20% after the trading platform reported stronger-than-expected fourth-quarter earnings, even as weaker cryptocurrency activity weighed on several headline financial measures.

The Nasdaq-listed stock closed at $33.07 on February 17, 2026, representing a 20.4% daily gain. Shares then slipped slightly to around $33 in after-hours trading, according to a report on eToro’s market reaction.

eToro recorded fourth-quarter net income of $68.7 million, up 16% from $59.2 million a year earlier. Adjusted diluted earnings reached $0.71 per share, above the $0.60 expected by analysts.

eToro Q4 earnings show stronger profit but lower contribution

The company’s fourth-quarter earnings filing showed that net contribution declined 10% year over year to $227 million. Adjusted net income increased 6% to $70.4 million.

Adjusted EBITDA fell 19% to $87 million, compared with $108 million during the same quarter in 2024. However, the earnings-per-share beat and continued account growth helped investors look beyond the decline.

Funded accounts increased 9% to 3.81 million, while assets under administration rose 11% to $18.5 billion. eToro ended 2025 with $1.3 billion in cash, cash equivalents, and short-term investments.

Q4 financial measure	2025 result	Annual change
Net income	$68.7 million	Up 16%
Net contribution	$227 million	Down 10%
Adjusted net income	$70.4 million	Up 6%
Adjusted EBITDA	$87 million	Down 19%
Adjusted diluted EPS	$0.71	Down from $0.79

Crypto revenue fell sharply during the quarter

Total revenue and income reached $3.87 billion in the fourth quarter, down about 34% from $5.85 billion a year earlier. Cryptoasset revenue accounted for $3.59 billion, down from $5.81 billion.

That figure does not represent eToro’s profit from cryptocurrency trading. The company also recorded $3.64 billion in cryptoasset revenue costs, meaning the gross crypto revenue figure was largely offset by corresponding expenses.

eToro defines net contribution as total revenue and income minus cryptoasset revenue costs and margin interest expenses. Its official financial statements therefore place greater emphasis on net contribution than gross revenue.

• Cryptoasset revenue: $3.59 billion
• Cost of cryptoasset revenue: $3.64 billion
• Crypto derivatives trading income: $73.8 million
• Equities, commodities, and currencies income: $115.6 million
• Quarterly net contribution: $227 million

Full-year profit increased as eToro diversified

For the full year, eToro generated $13.84 billion in total revenue and income, up 9% from $12.64 billion in 2024. Net income increased 12% to $215.7 million.

Full-year net contribution rose 10% to a record $868 million, while adjusted net income increased to $251.5 million. Adjusted EBITDA climbed 4% to $317 million.

The company generated almost $12.98 billion in gross cryptoasset revenue during 2025. However, the SEC-filed results also showed $12.93 billion in associated cryptoasset revenue costs.

Full-year measure	2025	2024
Total revenue and income	$13.84 billion	$12.64 billion
Net contribution	$868 million	$788 million
Net income	$215.7 million	$192.4 million
Adjusted net income	$251.5 million	$227.9 million
Adjusted EBITDA	$317 million	$304 million

Crypto trading slowed in January 2026

eToro’s January data pointed to a continued decline in cryptocurrency engagement. The platform processed 4 million crypto trades, down 50% from January 2025.

The average amount invested per crypto trade fell 34% to $182. By comparison, total trades across all supported asset classes increased 55% to 74 million.

The average investment across all trades rose 8% to $252. The figures suggest that equities, commodities, currencies, and other products helped offset weaker cryptocurrency trading.

• Total trades increased 55% to 74 million.
• Crypto trades declined 50% to 4 million.
• The average crypto investment fell to $182.
• The average investment across all trades increased to $252.
• Total money transfers rose 68% to $1.8 billion.

eToro sees opportunity in AI and on-chain markets

CEO Yoni Assia said artificial intelligence and blockchain infrastructure are changing how people invest and interact with financial markets. He described 2025 as a milestone year following eToro’s public listing and product expansion.

The company plans to introduce more AI-powered investing tools, third-party applications, and around-the-clock access to selected assets. It also expanded its cryptocurrency offering to more than 150 cryptoassets during 2025.

Assia said some users who had previously focused on crypto started trading commodities such as gold and silver. He linked the change to lower cryptocurrency volatility and increased volatility in commodities, according to the earnings-call coverage.

Why did eToro stock rise?

The sharp share-price increase reflected stronger profitability than analysts expected, growing funded accounts, and confidence in eToro’s ability to generate activity outside cryptocurrency markets.

Investors also welcomed the company’s decision to increase its share repurchase authorization by $100 million. The increase brought the total authorized program to $250 million.

Still, the results contained mixed signals. Net contribution and adjusted EBITDA declined during the quarter, while January crypto activity weakened considerably. The full eToro results show that future performance will increasingly depend on whether growth in stocks, commodities, derivatives, and other products can offset softer crypto trading.

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