On a day when etoro announced a fairly important acquisition of TradeZero giving it a stronger foothold in the US online brokerage market, it also released its Q2 2026 financial results, showing a slowing of activity and a drop in profitability.

etoro Revenues, or what it calls Net Contribution, fell by 11% from Q1 levels to $229 million in Q2 2026 (Q1 2026: $258 million), while Net Profit of $53.5 million was 35% below Q1’s record $82.4 million.

In examining etoro’s revenues in Q2 2026 versus Q1, we’d note that “core” revenues from equities, commodities and FX trading was $141.6 million, down 14% from Q1 ($165.6 million). That accounts for a good part of the decline in overall topline activity at etoro.

etoro shares responded by dropping by more than 10% in early trading on Tuesday morning, sitting at about $30.50 as at the time of writing, versus Monday’s close of $34.00. While etoro shares are still above their 52 week low of $24.74 set in February, they are still well under water from their May 2025 IPO price of $52 a share.

etoro’s results also sit in contrast to those of rival neobroker Robinhood (NASDAQ:HOOD), which reported record revenues in Q2 2026 even as crypto trading related activity declined. Unlike at etoro, Robinhood more than made up for falling crypto revenues in Q2 in other areas, such as Prediction Markets trading.

Funded accounts and AUA

Funded Accounts at etoro increased 18% year over year to 4.28 million compared to 3.63 million in the second quarter of 2025 (Q1 2026: 4.02 million). This was driven primarily by strength in user acquisition and retention efforts. Assets under Administration grew by 10% year-over-year to $19.2 billion, compared to $17.5 billion in the second quarter of 2025 (Q1 2026: $17.0 billion). However client AUA fell in July 2026, as per the stats below.

July KPI metrics

etoro also reported the below selected monthly business metrics for July 2026:

• Assets under Administration (AUA) were $18.5 billion, down 5% year-over-year.
• Funded Accounts were 4.32 million, up 18% year-over-year.
• Capital Markets/ECC Activity
  • Total number of trades for July was 48.5 million, flat year-over-year;
  • Invested amount per trade for July was $207, down 23% year-over-year;
• Crypto Activity
  • Total number of trades for July was 1.4 million, down 73% year-over-year;
  • Invested amount per trade for July was $182, down 50% year-over-year;
• Interest Earning Assets for July was $6.8 billion, down 8% year-over-year.
• Total Money Transfers for July was $1.1 billion, up 10% year-over-year.

Yoni Assia, Co-Founder and CEO of etoro said in a statement,

“We delivered another strong quarter as we continue executing against our long-term strategy.

“Technology continues to reshape how people invest and manage their money. Throughout our history, etoro has embraced these shifts, from social investing to crypto, and today AI and on-chain finance represent the next chapter in that evolution.

“During the quarter, we launched our new mobile app, continued expanding our platform and agent ecosystem, and strengthened our long-term digital asset strategy by expanding our self-custody offering and advancing the development of on-chain perpetual futures. We also launched new products like sub-accounts, etoro edge for active traders, and etoro wealth, and we saw continued strong momentum in our savings offering. Together, these developments build on our four strategic pillars of trading, investing, wealth management and neo-banking, creating a more seamless experience across every stage of our users’ financial journey.

“Today’s announcement of our acquisition of TradeZero marks another important step in that journey, strengthening our presence in the US and enhancing our capabilities for active traders. Together with another quarter of profitable growth, these milestones demonstrate the strength of our diversified business model and reinforce our confidence in the long-term opportunity ahead.”

Meron Shani, etoro CFO said,

“We are very pleased with our second quarter 2026 results, supported by strength in equity trading and Copy Trading activity, reflecting the resilience of our multi-asset platform. More than 60% of users who traded commodities during Q4 2025 to Q1 2026 subsequently traded equities in Q2 2026, and nearly nine in ten of those users have also traded crypto on etoro. This demonstrates how users move between asset classes as market opportunities evolve, helping drive engagement across market cycles.

“We delivered compelling financial performance through a combination of diversified revenue streams, strong funded accounts growth, and increased customer engagement. TradeZero is a highly complementary business, and the acquisition is expected to be financially accretive while positioning us for accelerated growth. The deal underscores our disciplined approach to capital allocation and our commitment to creating long-term shareholder value.”

etoro’s Q2 2026 results release can be seen here.