eToro Results Presentation Deck
P8
As part of our mission to empower people to grow their knowledge and wealth, we
recently launched the eToro Academy. Our online education hub provides users of all
levels of investing experience with free resources across multiple channels to improve
their understanding of financial markets..
Net income was negative $89 million primarily due to a non-cash charge of $71 million
in stock-based compensation for eToro employees and $36 million of transaction costs
related to the business combination with FTCV. Adjusted EBITDA was $33 million for
the second quarter of 2021.
eToro is on track to hit our 2021 forecast supported by a strong second quarter. We
remain focused on growth rather than short term profitability and have therefore
continued to reinvest income across our marketing channels and in the continued
expansion of our product offering and global presence.
Looking beyond the Q2 numbers, the volume of new users joining eToro and overall
trading activity on the platform has slowed to date in the third quarter compared to the
all time highs of H1 2021. We were conservative when we prepared our forecast and
anticipated varied market conditions and retail investor behavior.
We are thankful for your support, and look forward to continued success in 2021
and beyond.
Yoni Assia
Co-Founder & CEO
August 2021View entire presentation