In the first months of January to March, Plus500’s revenue amounted to $215.6 million, which grew by 4% year on year and by 14% during the reviewed period. Of such sum, $169.6 million was earned as customer income, $30.6 million was generated as customer trading performance and the rest is interest income.
Plus500 Shows Strong Quarterly Results
On Apr 16, 2024, an exploitative trading update reported that the company’s quarterly EBITDA was at $102.6 million. The EBITDA over 1st quarter of the current year has been up 2 percent from the previous year while 19 percent more than that of the last quarter. The EBITDA margin margin for the current quarter fell from Q1 to 48% from 49%. However, the margin compared favorably with the 45% in the previous quarter.
The period witnessed considerable growth in the platform with the total customer base increasing by 31,949. It demonstrates some great annual growth and, most impressively, a 61 percent increase from the month before.
The Israeli broker experienced a decrease from the previous year in 2 percent of active clients to 134,745, just on the other hand, clients increased on a quarter-over-quarter basis by 14 percent. The platform’s ARPU (average revenue per user) in the last quarter was $1,600 having $1,320 as its average user acquisition cost. Maybe I should add that the firm fortified its user acquisition cost in the end.
Plus500 CEO’s Statement On Results
The CEO of Plus500, David Zruia ensured that he was content with the previous ups of the company. He placed an emphasis on not only the successful addition but also new markets, product development, and a strengthened relationship with customers. The success along with advantages in the market and good financial standing resulted in a very good operational and financial performance for Plus500.