eToro reported a 74% year-over-year decline in third-quarter net income to $15 million, driven by weaker crypto trading activity. The Nasdaq-listed platform’s net contribution fell 13% to $186 million from $215 million a year earlier, while adjusted EBITDA dropped 56% to $34 million from $78 million in the same quarter last year. These figures mark a clear deterioration in profitability compared to previous periods.
Revenue Collapse and October Trends
Crypto asset revenue plummeted to $1.35 billion from $3.97 billion a year earlier, with associated costs falling to $1.29 billion from $3.89 billion for the same period in 2025. This sharp contraction in both income and expense highlights the severe impact of reduced market participation on the company’s bottom line. Beyond the third quarter, October data showed crypto trades falling 62% year over year to just 2 million. The average invested amount per crypto trade also declined 29% to $228 during that month. Overall trading activity was lower across equities, commodities, and currencies, with 48.2 million trades recorded in October, down 22% from the same month in 2025.
The platform ended September with 4.39 million funded accounts, an 18% increase from a year earlier, yet assets under administration remained unchanged at $20.8 billion. eToro’s board approved a $250 million share buyback program, subject to market conditions and liquidity requirements. Previous reports noted that second-quarter net income was $53 million on $229 million in net contribution, which were down from record first-quarter results despite stronger equities trading. First-quarter results had already shown a 50% year-over-year drop in crypto trades, indicating this slump has been ongoing for several months. The consistent decline in crypto volume is clearly the primary driver behind the current earnings weakness.
