JERSEY
CITY, N.J., March 13,
2025 /CNW/ -- Moomoo's parent company Futu Holdings
Ltd. ("Futu" or "the Company") (Nasdaq: FUTU), a leading
tech-driven online brokerage and wealth management platform,
announced its unaudited Q4 2024 earnings with US$570.6 million in revenues, up 86.8%
year-over-year ("YoY"), and US$251.3
million in non-GAAP adjusted net income, a 105.4% YoY
increase.
For the year ended December 31,
2024, the Company recorded US$1.75
billion in revenues and US$742.6
million in non-GAAP adjusted net income, representing a YoY
increase of 35.8% and 26.2%, respectively.
A Deepened Globalization Strategy Boosts Client Acquisition
and Trading Activities
The Company reported robust growth in user and client
acquisition for Q4, posting over 25 million global users at the
year end that includes 2.41 million paying clients, up 16% and 41%
YoY respectively. Total client assets achieved US$95.7 billion with a YoY increase of 53%. In
the full year of 2024, the Company acquired over 701 thousand new
paying clients, representing 127% of its full-year guidance.
The Company sustained robust growth momentum across all markets
where moomoo operates. Q4 marked the strongest quarter in users and
paying clients growth in Singapore
over the past 10 quarters, while double-digit increases in both
metrics were recorded in Japan,
Canada, Malaysia and Australia. In terms of client assets, all
markets experienced a double-digit quarterly rise, with newly
penetrated markets such as Japan,
Canada, and Malaysia reporting a high growth rate.
In Hong Kong, where its
platform is known as Futubull, the Company further strengthened its
market-leading position this quarter. The user base continued to
expand, now reaching over half of the local adult population. The
quarter-over-quarter growth in paying clients reached the highest
level in recent three years, with the year-end average client
assets ascending to a record high, highlighting a continued asset
inflow from institutions and the private wealth segment.
Driven by its diversification strategy globally, the Company's
trading activities increased notably across multiple assets,
bringing the Q4 trading volume up to an all-time high at
US$371.5 billion. The total quarterly
trading volume for US stocks surged by 195% YoY to a historic peak
of over US$267 billion, and that for
Hong Kong stocks exceeded
US$97 billion, representing a
three-year high. Additionally, the Company's crypto
trading services that were launched in Singapore and Hong
Kong continued to gain traction, with the number of traders
and trading volume both soaring in Q4. The average deposit into
crypto accounts increased significantly, showing
growing confidence in this particular asset among investors.
The wealth management business also saw rapid expansion this
quarter, with the assets under management surpassing US$14 billion, almost doubling in size compared
to 2023 year-end.
User Engagement Propelled by Enhanced Product Capabilities
and Ecosystem Development
In Q4, the Company continuously optimized user experience
through a series of product launches and upgrades. A redesigned
desktop version of moomoo was released, offering a more tailored
interface and advanced features. In Japan, moomoo collaborated with the Japan
Exchange Group to offer Japanese stock options trading, and in
Australia, moomoo is a pioneer in
Australian stock recurring investment plan. In Singapore and Hong
Kong, the Company established a bond trading desk this
quarter to help clients execute large and complex bond orders.
As a global brand operating in various markets, moomoo is
dedicated to fostering an ecosystem featuring transparent,
high-quality content and seamless communication among investors,
listed companies, media and other financial partners. As part of
the global strategic partnership initiatives between the Company
and Nasdaq, moomoo launched its inaugural Global Paper Trading
Challenge in Q4, assembling over 150,000 challengers worldwide and
advancing financial literacy through hands-on market education.
Additionally, moomoo established global partnerships with
well-known investment service providers such as TradingView and
Seeking Alpha, creating value for both moomoo users and its
partners. Traders on the TradingView platform named moomoo as
2024 Best Stock Broker.
Bolstered by a more integrated ecosystem, user engagement
improved as the daily active usage on moomoo app significantly
increased across all markets, with a double-digit YoY rise in
Singapore, Malaysia and Australia. The Company also reported the
number of moomoo online course learners doubled compared to last
quarter, in line with the rapid surge in user activities across its
platforms.
In Q4, the moomoo app secured the top spot in Singapore and Malaysia among brokerages in terms of
accumulated downloads and daily active users for quarters running.
In Australia, moomoo achieved a
breakthrough, ranking the top by annual downloads for the first
time among local broker apps. In Japan, moomoo maintained in second place by
downloads for the second consecutive quarter. In Singapore, Japan and Malaysia, moomoo app continued to lead the
industry by receiving the highest user ratings on both Google Play
and App Store*.
*Source: data.ai
About moomoo
Moomoo is a leading global investment and trading platform
dedicated to empowering investors with user-friendly tools, data,
and insights. Our platform is designed to provide essential
information and technology, enabling users to make well-informed
investment decisions. With advanced charting tools, pro-level
analytical features, moomoo evolves alongside our users, fostering
a dynamic community where investors can share, learn, and grow
together.
Founded in the US, moomoo has expanded its global presence to
serve investors across multiple markets, including Singapore, Australia, Japan, Canada, and Malaysia. As a subsidiary of a Nasdaq-listed
company, moomoo is trusted by over 25 million investors worldwide
and has earned recognition from leading financial institutions and
publications for its innovation and reliability.
For more information, please visit moomoo's official website at
www.moomoo.com
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