eToro Group Ltd. (ETOR) Income Statement
ETOR 2025 at a glance
Fiscal year ended December 31, 2025 · U.S. dollarsETOR revenue and net income
Where ETOR's revenue goes
2025Each bar shows an amount and its share of revenue. ETOR kept 1.6% of revenue as net income.
ETOR profit margins
ETOR growth rates
to 2025| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Revenue | +9.4% | +29.7% | +90.5% | — |
| Gross profit | +11.4% | +28.0% | +9.3% | — |
| Operating income | +0.8% | — | +25.6% | — |
| Net income | +12.1% | — | +21.1% | — |
| EPS (diluted) | +241.5% | — | — | — |
1-year change and average annual growth (CAGR) over 3, 5 and 10 fiscal years. "—" when a starting value was zero or negative.
ETOR quarterly EPS vs estimates
eToro beat the analyst EPS estimate in 5 of the last 7 quarters. Next report: November 10, 2026 (estimate $0.37).
ETOR income statement
| 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | |
|---|---|---|---|---|---|---|
| Revenue | $13.81B | $12.62B | $3.88B | $6.33B | $945.4M | $550.1M |
| Cost of revenue | $13.05B | $11.94B | $3.47B | $5.97B | $0 | $64.4M |
| Gross profit | $757.8M | $680.5M | $404.7M | $361.3M | $945.4M | $485.7M |
| Research & development | $151.2M | $131.1M | $128.9M | $153.6M | $145.2M | $65.1M |
| Sales, general & admin | $323.4M | $270.2M | $218.8M | $384.2M | $506.7M | $329.6M |
| Total operating expenses | $485.5M | $410.3M | $357.9M | $548.8M | $1.19B | $398.5M |
| Operating income | $272.3M | $270.3M | $46.8M | −$187.5M | −$240.6M | $87.2M |
| Interest income | $30.1M | $16.7M | $10.1M | $1.6M | — | $1.4M |
| Interest expense | $41.3M | $39.2M | $28.1M | $23.2M | — | $1.5M |
| Income before taxes | $253.4M | $245.6M | $27.7M | −$214.9M | −$266.3M | $85.7M |
| Income taxes | $37.7M | $53.2M | $12.5M | $117,000 | −$593,000 | $2.9M |
| Net income | $215.7M | $192.4M | $15.3M | −$215.0M | −$265.7M | $82.9M |
| EBITDA | $307.4M | $296.1M | $68.1M | −$178.7M | — | $93.1M |
| EPS (diluted) | $2.22 | $0.65 | $0.73 | — | −$4.56 | — |
| Gross margin | 5.5% | 5.4% | 10.4% | 5.7% | 100.0% | 88.3% |
| Operating margin | 2.0% | 2.1% | 1.2% | −3.0% | −25.5% | 15.8% |
| Net margin | 1.6% | 1.5% | 0.4% | −3.4% | −28.1% | 15.1% |
| Jun '26 | Mar '26 | Dec '25 | Sep '25 | Jun '25 | Mar '25 | Dec '24 | Sep '24 | Jun '24 | Mar '24 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $239.5M | $268.0M | $3.87B | $4.10B | $2.09B | $3.75B | $5.84B | $1.56B | $1.84B | $3.38B |
| Cost of revenue | $16.7M | $16.3M | $3.75B | $3.89B | $1.88B | $3.53B | $5.71B | $1.38B | $1.67B | $3.17B |
| Gross profit | $222.8M | $251.7M | $110.8M | $215.0M | $209.7M | $222.4M | $130.2M | $171.7M | $172.2M | $206.4M |
| Research & development | $33.8M | $41.1M | $37.9M | $37.9M | $38.9M | $36.6M | $32.0M | $31.1M | $34.8M | $33.2M |
| Sales, general & admin | $129.2M | $58.4M | $40.7M | $105.3M | $128.8M | $110.7M | $41.0M | $90.7M | $95.5M | $93.4M |
| Total operating expenses | $159.3M | $152.5M | $27.3M | $143.2M | $167.7M | $147.3M | $31.6M | $121.9M | $130.3M | $126.5M |
| Operating income | $63.5M | $99.2M | $83.5M | $71.7M | $42.0M | $75.0M | $98.6M | $49.9M | $41.9M | $79.9M |
| Interest income | $8.9M | $10.7M | $9.1M | $9.4M | $7.4M | $4.7M | $4.4M | $5.0M | $3.9M | $3.3M |
| Interest expense | $13.0M | $9.9M | $6.4M | $12.3M | $13.8M | $9.2M | $9.6M | $10.4M | $9.6M | $9.6M |
| Income before taxes | $63.5M | $99.2M | $78.4M | $68.8M | $35.6M | $70.5M | $91.3M | $44.5M | $36.2M | $73.6M |
| Income taxes | $10.0M | $16.8M | $9.7M | $12.0M | $5.4M | $10.6M | $32.1M | $6.0M | $5.7M | $9.5M |
| Net income | $53.5M | $82.4M | $68.7M | $56.8M | $30.2M | $60.0M | $59.2M | $38.5M | $30.6M | $64.1M |
| EBITDA | $66.8M | $102.4M | $88.5M | $84.3M | $52.4M | $82.7M | $103.9M | $57.7M | $48.7M | $85.8M |
| EPS (diluted) | $0.68 | $0.86 | $0.69 | $0.53 | $0.31 | $0.69 | $0.65 | — | — | — |
| Gross margin | 93.0% | 93.9% | 2.9% | 5.2% | 10.0% | 5.9% | 2.2% | 11.0% | 9.3% | 6.1% |
| Operating margin | 26.5% | 37.0% | 2.2% | 1.7% | 2.0% | 2.0% | 1.7% | 3.2% | 2.3% | 2.4% |
| Net margin | 22.3% | 30.7% | 1.8% | 1.4% | 1.4% | 1.6% | 1.0% | 2.5% | 1.7% | 1.9% |
Quarterly columns are labeled by the month the quarter ended. Figures in U.S. dollars as reported in ETOR's financial statements (latest annual report filed March 2, 2026); data from EODHD. Sales, general & administrative expenses include sales and marketing.
ETOR financial results
In fiscal year 2025 (ended December 31, 2025), eToro reported revenue of $13.8 billion, up 9.4% from the year before. It had net income of $215.7 million (up 12.1%), a net profit margin of 1.6%. Diluted earnings per share came to $2.22. Over five years revenue grew at an average rate of 90.5% a year.
See the ETOR stock overview for the latest quote and news, or the ETOR chart for price history and technical indicators.
ETOR income statement FAQ
What is eToro's annual revenue?
eToro reported total revenue of $13.8 billion for fiscal year 2025, which ended on December 31, 2025. That was up 9.4% from $12.6 billion the previous year.
Is eToro profitable?
Yes. eToro reported net income of $215.7 million in fiscal 2025, a net profit margin of 1.6%; its operating margin was 2.0%.
What is eToro's gross margin?
eToro's gross margin was 5.5% in fiscal 2025: for every $100 of revenue, eToro kept $5 after the direct cost of its products and services.
How much does eToro spend on research and development?
eToro spent $151.2 million on research and development in fiscal 2025, 1.1% of revenue.
How fast is eToro growing?
Revenue grew 90.5% a year on average over the last five fiscal years, from $550.1 million to $13.8 billion.
What are eToro's earnings per share?
eToro earned $2.22 per diluted share in fiscal 2025, compared with $0.65 a year earlier.
When will eToro report its next earnings?
eToro is expected to report results for the quarter ending September 30, 2026 on November 10, 2026 before the market opens.
When does eToro's fiscal year end?
eToro's fiscal year ends in December. The latest annual report covers the year ended December 31, 2025 and was filed on March 2, 2026.