Plus500 Achieves Strong Performance in Q1 2023 with 64% Quarterly Increase in Revenue

Plus500, a global multi-asset fintech group operating technology-based trading platforms, today released its trading data for the first quarter ended March 31, 2023, seeing a significant increase of 64% on a quarterly basis in revenue.

Financial Performance:

• Revenue in Q1 2023 reached $207.9 million, jumping 64% from $126.7 million in Q4 2022.

• EBITDA came in at $100.9 million for the quarter, 116% higher than $46.7 million in the prior quarter. The EBITDA margin was 49% in Q1 2023, comparing to 37% in Q4 2022.

• Customer trading performance during the quarter stood at $50.1 million, surging 111% compared to $23.7 million in Q4 2022.

• Clients deposits were $0.6 billion in Q1 2023, equivalent to the data in the prior quarter.

• New customers in Q1 2023 amounted to 28,201, increasing 10% compared to 25,527 in Q4 2022. The number of active customers came in at 137,053, increasing 5% compared to 130,865 active customers in the prior quarter.

• Average Revenue Per User (ARPU) rose by 57% from $968 to $1,517 on a quarterly basis, while Average User Acquisition Cost (AUAC) dropped by 6% from 1,462 in Q4 2022 to $1,381.

"Plus500 produced another strong performance in Q1 2023, again driven by our unique proprietary technology stack proposition, which attracts and retains higher value customers over the long term. We have a range of extremely exciting strategic growth opportunities ahead of us, particularly in the US futures market, enabling us to accelerate our development as a diversified, global multi‐asset fintech group with a highly valuable customer base and market leading capabilities. Supported by further organic investments and targeted acquisitions, we remain confident that Plus500 is well‐positioned to deliver sustainable growth and strong, consistent returns over the medium to long‐term," commented David Zruia, Chief Executive Officer of Plus500.