The social investment platform eToro has announced performance estimations for the fourth quarter of 2021. The global trading company which is planning to go public through an American SPAC merger, expects to finish the quarter with total commissions between $285 million and $295 million.
This was announced in a SEC filing submitted by eToro’s SPAC merger partner FinTech Acquisition Corp. V., seen by LeapRate.
The Israel-based investment platform’s expected revenue is 30% higher than the $222 million generated in the Q3 2021 and nearly 77% compared to the fourth quarter of 2020.
The numbers are still lower than the revenue eToro registered in the first two quarters of the year.
However, eToro anticipates a total commission of $1.2 billion for the entire year, a more than two times higher than the $602 million reported in 2020.
According to the official filings, the total registered users on the trading platform will reach 27 million by 31 December 2021. This will add 2.1 million new registered users in the fourth quarter alone. This represents a significant growth in the demand for the company’s services from the Q3 2021 when it reported 1.6 million new users.
Yoni Assia, CEO and Co-founder of eToro, commented:
Yoni Assia Source: LinkedIn
Our preliminary fourth quarter 2021 financial metrics show continued strong growth and demonstrate that we are executing very well on our business plan. Our fourth quarter 2021 preliminary results point to full-year 2021 total commissions of approximately $1.2 billion, representing more than 100% year-over-year growth. We continue to see a strong increase in the number of users engaging with our platform across our global footprint and are very excited for what lies ahead in 2022 and beyond.
Experienced writer and journalist, working in the global online trading sector, Steffy is the Editor of LeapRate. She has previous experience as a copywriter and has been with the company since January 2020. Steffy has a British and American Studies degree from St. Kliment Ochridski University in Sofia.
