Israeli fintech company eToro reported a net profit of US$192 million for 2024, a sharp increase from US$15.3 million in 2023 and a US$21 million loss in 2022.

Earnings per share rose from US$0.80 to US$9.85, while revenue climbed to US$931 million from US$639 million.

Crypto trading growth contributed to these results, with EBITDA reaching US$304 million, up from US$117 million.

EToro is targeting a US$5 billion valuation with its IPO after a failed 2021 SPAC merger attempt. The IPO aims to boost its US market position.

In 2023, it raised US$250 million in private funding, valuing it at US$3.5 billion, and reduced its workforce to around 1,700 employees.

Recent eToro developments