Moomoo's Parent Company Futu Released Q1 Earnings Result with US$143.3 Million in Non-GAAP Adjusted Net Income, a 18% Increase QoQ

Moomoo's parent company Futu Holdings Ltd. ("Futu" or "the Company") announced its unaudited Q1 2024 earnings with US$331.3 million in revenues, up 9.2% quarter-over-quarter ("QoQ") and US$143.3 million in non-GAAP adjusted net income, a QoQ increase of 18.0%.

The results were underscored by the Company's primacy in Hong Kong, as well as its rapid growth and increasing recognition among global investors in markets it penetrated in recent years, including Singapore, Malaysia, Japan, Australia, the US and Canada. In Q1, the Company's new paying clients grew by 330.8% year-over-year ("YoY") to 177,161, and its daily average revenue trades (DARTs) in Q1 increased 7.0% YoY to 549,854.

With its customer-centric strategy and commitment to providing tech-powered solutions to address evolving investor needs, the Company celebrated both popularity and stickness of its platforms among global investors. By the end of Q1 2024, the Company had amassed 22.48 million global users and 1.887 million paying clients, up 12.3% and 23.5% respectively, compared to the previous year. It also maintained a strong client retention rate at over 98% in Q1, with the total client assets achieving US$ 66.18 billion, up 11.2% YoY.