Futu Holdings Limited reported fourth‑quarter and full‑year 2025 results that exceeded analyst expectations. Revenue reached US$827.2 million, a 45.3 % year‑over‑year increase, beating the consensus estimate of roughly US$815 million by about US$12 million. Non‑GAAP adjusted net income rose to US$444.0 million, up 77.0 % YoY, while earnings per share of HK$24.0 surpassed the consensus range of HK$21.4 to HK$22.3, a beat of roughly HK$1.7 to HK$2.6.
The company added 954,090 net new funded accounts in 2025, lifting the total to 3.4 million and driving a 39.6 % YoY growth. Client assets climbed to HK$1.23 trillion, up 65.9 % YoY, reflecting inflows across Hong Kong, U.S., and Singapore markets. Operating margin expanded to 64.4 %, up from 50.0 % in Q4 2024, driven by higher trading volumes and efficient cost management. Although revenue fell slightly from Q3 to Q4, the year‑over‑year growth remained robust.
Management reiterated its confidence for 2026, guiding for 800,000 net new funded accounts and maintaining a strong outlook for continued client acquisition. The company also noted that it surpassed its full‑year 2025 guidance for net new accounts by 19 %, underscoring the effectiveness of its global expansion strategy.
Chairman and CEO Leaf Hua Li said, "2025 represented a pivotal year for Futu, as our globalization strategy achieved comprehensive success. The breakthroughs in our full‑year performance and the accelerated growth across overseas markets underscore Futu's steady progress toward becoming a professional financial services platform with global reach and influence." Li added, "We remain confident in our ability to acquire 800,000 net new funded accounts in 2026, supported by strong bottom‑up growth opportunities across both our established markets and newer ones." Head of Investor Relations Daniel Yuan noted, "In 2025, we delivered another year of strong client acquisition, adding more than 950,000 net new funded accounts and surpassing our full‑year guidance by 19 %.",
Investors responded positively to the earnings beat, with the market reflecting confidence in Futu's continued growth trajectory and margin expansion.
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