eToro Group Ltd 6-K, filed Nov 10, 2025

eToro Group Ltd. (ETOR)

6-K 2025-11-10 For: 2025-11-10

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Added on April 12, 2026

About this 6-K

eToro Group Ltd filed this 6-K on November 10, 2025.

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Exhibit Number		Description of Exhibit
99.1		Press Release dated November 10, 2025, titled “eToro Reports Third Quarter 2025 Results”

		ETORO GROUP LTD.
		(Registrant)

Date:	November 10, 2025	By:	/s/ Jonathan Alexander Assia
			Name:	Jonathan Alexander Assia
			Title:	Chief Executive Officer

	●	Net contribution increased by 28% year over year to $215 million, compared to $167 million in the third quarter of 2024.

	●	Net income (GAAP) increased 48% year over year to $57 million, compared to $39 million in the third quarter of 2024.

	●	Adjusted Net Income (Non-GAAP) increased 35% to $60 million, compared to $45 million in the third quarter of 2024.

	●	Adjusted EBITDA (non-GAAP) increased by 43% year over year to $78 million, compared to $55 million in the third quarter of 2024, largely due to increased net contribution and disciplined cost management.

	●	Adjusted Diluted EPS (non-GAAP) was $0.60, compared to $0.51 in the third quarter of 2024.

	●	Funded accounts increased 16% year over year to 3.73 million compared to 3.21 million in the third quarter of 2024. This was driven primarily by ongoing user acquisition and retention efforts, as well as the acquisition of Australian investing app Spaceship in Q4 2024.

	●	Assets under Administration grew by 76% year over year to $20.8 billion, compared to $11.8 billion in the third quarter of 2024.

	●	Cash, cash equivalents and short term investments were $1.2 billion as of September 30, 2025.

	●	Launched key products across our four pillars of trading, investing, wealth management, and neo-banking including AI-powered solutions, U.S. Copy Trading, 24/5 trading, futures, local savings, and eToro Money in key markets

	●	Assets under Administration (AUA) were $20.5 billion up 73% year-over-year.

	●	Funded accounts were 3.76 million up 17% year-over-year.

	●	Capital Markets/ECC Activity

	○	Total number of trades for October was 62 million up 53% year-over-year;

	○	Invested amount per trade for October was $361 up 26% year-over-year;

	○	Total number of trades for October was 5 million up 84% year-over-year;

	○	Invested amount per trade for October was $320 up 52% year-over-year;

	●	Interest Earning Assets for October was $8.7 billion up 55% year-over-year.

	●	Total Money Transfers for October was $1.4 billion up 116% year-over-year.

¹	See “Non-GAAP Financial Metrics and Key Performance Indicators” below for additional information and a reconciliation to GAAP for all Non-GAAP financial metrics. Adjusted EBITDA margin is based on net contribution.Numbers may not sum up due to rounding; percentage changes based on unrounded data.
²	Numbers may not sum up due to rounding; percentage changes based on unrounded data.

	September 30		December 31
	2025		2024
	Unaudited		Unaudited
Assets
Current assets:
Cash and cash equivalents		1,093,467		575,395
Restricted cash		329		314
Short-term investment		131,000		65,000
Counterparties		294,716		224,867
Cryptoassets		93,775		113,279
Receivable from omnibus accounts		6,838		50,466
Other receivables and prepaid expenses		67,236		46,005
		1,687,361		1,075,326
Non-current assets:
Restricted cash		11,586		11,630
Right of use assets		40,601		44,406
Property and equipment, net		6,299		5,007
Goodwill and other intangible assets, net		44,421		46,346
Deferred taxes		10,318		8,647
		113,225		116,036

Total Assets		1,800,586		1,191,362

Liabilities and equities
Current liabilities:
Accounts payable		5,764		4,201
Current maturities of long-term lease liabilities		5,687		4,758
Payable to users		143,936		103,493
Accrued expenses and other payables		209,187		193,115
		364,574		305,567
Non-current liabilities:
Employee benefit liabilities, net		876		1,253
Other long-term liabilities		9,616		5,653
Long-term lease liabilities		45,327		43,546
Deferred taxes liabilities		2,185		2,968
		58,004		53,420
Equity attributable to equity holders of the company:
Common share premium		1,263,790		474,469
Preferred share premium		0		397,019
Treasury shares		0		(2,625	)
Advanced Investment Agreement		9,091		9,091
Other capital reserve		5,620		1,868
Retained Earnings (Accumulated deficit)		99,507		(47,447	)
		1,378,008		832,375
Total liabilities and equity		1,800,586		1,191,362

	Three months ended					Nine months ended
	September 30					September 30
	2025			2024		2025		2024
	Unaudited			Unaudited		Unaudited		Unaudited

Revenue and income:
Net trading income from equities, commodities and currencies		72,865			91,691		283,744		248,023
Revenue from cryptoassets		3,966,518			1,400,244		9,382,110		6,333,518
Net trading income (loss) from cryptoassets derivatives		(18,395	)		2,922		50,249		(231	)
Net interest income from users		58,850			46,036		155,342		145,568
Currency conversion and other income		24,287			15,451		70,701		54,549
Other interest income		9,410			5,001		21,005		12,288
Total revenue and income		4,113,535			1,561,345		9,963,151		6,793,715

Costs:
Cost of revenue from cryptoassets		3,889,146			1,384,596		9,295,088		6,231,088
Margin interest expense		9,785			9,440		26,461		27,456
Research and development		37,906			31,143		113,380		99,080
Selling and marketing		47,901			41,945		161,701		119,150
General, administrative and operating costs		57,434			48,770		183,206		160,434
Finance and other expenses, net		2,559			961		8,351		2,151
Total costs		4,044,731			1,516,855		9,788,187		6,639,359

Income before taxes on income		68,804			44,490		174,964		154,356
Taxes on income		11,987			5,990		28,010		21,159
Net income		56,817			38,500		146,954		133,197

Other comprehensive income, net:
Items that may be reclassified subsequently to profit or loss:
Cash flow hedges, net of tax		(1,212	)		601		3,752		601
Other comprehensive income (loss) for the year, net of tax		(1,212	)		601		3,752		601

Total comprehensive income		55,605			39,101		150,706		133,798

Basic net income per share		0.66			0.50		1.78		1.72
Diluted net income per share		0.53			0.44		1.55		1.54

Weighted-average shares of common shares used to compute net income per share attributable to common shareholders:
Basic		86,648,439			77,730,860		82,760,081		77,646,136
Diluted		100,396,074			86,707,195		94,580,493		86,635,250

	Three months ended						Nine months ended
	September 30						September 30
	2025			2024			2025(*)			2024
	Unaudited			Unaudited			Unaudited			Unaudited
Cash flows from operating activities:
Net income		56,817			38,500			146,954			133,197

Adjustments to reconcile net income (loss) to net cash provided by operating activities:
Adjustments to profit or loss items:
Depreciation, amortization and impairment		3,153			2,798			9,152			8,240
Share-based payment		4,300			5,901			12,132			23,837
Evaluation of liabilities		(5,351	)		-			3,963			-
Revaluation of fair value of cryptoassets and counterparties		(70,661	)		(37,983	)		(84,795	)		(31,511	)
Non-cash revenue from staking and blockchain rewards		(10,336	)		(5,258	)		(27,090	)		(11,844	)
Non-cash costs from staking and blockchain rewards		7,033			3,268			18,552			7,369
Finance and other expenses, net		2,559			961			8,351			2,151
Taxes on income, net		11,987			5,990			28,010			21,159
		(57,316	)		(24,323	)		(31,725	)		19,401
Changes in asset and liability items:
Decrease (Increase) of counterparties		48,376			16,549			8,543			(13,457	)
Decrease of cryptoassets		11,270			7,324			28,595			8,085
Increase of other receivables and prepaid expenses		(6,342	)		(2,660	)		(13,953	)		(7,545	)
Decrease (Increase) of restricted cash		(99	)		(183	)		36			(846	)
Increase of user and omnibus accounts, net		1,983			32,335			75,588			62,042
Increase of accounts payable		1,196			13,304			564			13,283
Increase (Decrease) of accrued expenses and other payables		(3,422	)		4,125			(1,406	)		3,751
Increase (Decrease) of employee benefit liabilities, net		(498	)		(65	)		(461	)		(544	)
		52,464			70,729			97,506			64,769
Interest paid, net during the period		(4,385	)		(1,056	)		(6,761	)		(3,164	)
Taxes paid, net during the period		(5,667	)		(3,801	)		(13,383	)		(11,320	)
Net cash provided by operating activities		41,913			80,049			192,591			202,883

Cash flows from investing activities:
Increase of Short term deposits		(24,000	)		-			(245,000	)		-
Decrease of Short term deposits		93,000			-			179,000			-
Increase of long-term investments		-			-			(500	)		-
Purchase of property and equipment		(1,785	)		(287	)		(3,066	)		(2,013	)
Purchase of intangible assets		(230	)		(95	)		(623	)		(343	)
Net cash (used in) investing activities		66,985			(382	)		(70,189	)		(2,356	)

Cash flows from financing activities:
Exercise of options		297			326			3,730			687
Repayment of lease liability		(1,122	)		(1,030	)		(3,340	)		(3,003	)
Issuance of class A common share upon initial public offering, net of underwriting discounts, commissions and other issuance costs		(875	)		-			377,943			-
Net cash provided by (used in) financing activities		(1,700	)		(704	)		378,333			(2,316	)

Exchange differences on balances of cash and cash equivalents		(1,591	)		4,247			17,337			219

Increase in cash and cash equivalents		105,607			83,210			518,072			198,430

Cash and cash equivalents at beginning of the period		987,860			503,554			575,395			388,334

Cash and cash equivalents at end of the period		1,093,467			586,764			1,093,467			586,764

	●	Crypto: Includes all cryptocurrencies and users’ crypto assets held in eToro digital wallets.

	●	Equities: Includes stocks, ETFs, and assets managed under the Spaceship program.

	●	Cash: Includes customers’ uninvested cash (e.g., cash balances, eMoney balances, in-process cashouts), as well as cash used for margin or posted as collateral for leveraged positions.

	●	Net Trading Contribution (Equities, Commodities and Currencies) is equal to our Net trading income from equities, commodities and currencies.

	●	Net Trading Contribution (Cryptoassets) is equal to Revenue from cryptoassets plus Net trading income (loss) from cryptoasset derivatives less Cost of revenue from cryptoassets, excluding the net contributions from blockchain rewards and staking activity.

	●	Net Interest Contribution represents Net interest contribution from users plus Other interest income plus the net contributions of staking activity, less Margin interest expense.

	●	eToro Money comprises the vast majority of our Currency conversion and other income. It represents the income earned from our money management services, including currency conversions, withdrawals, interchange on our debit card, transfers of cryptoassets, and fees relating to our cryptoasset wallet services.

	●	Subscriptions and Other is the remainder of Currency conversion and other income not attributable to eToro Money plus the net contributions of blockchain rewards.