UP Fintech’s non-GAAP income stood at US$6.6 million, which was up by 26.2% y-o-y and 91.3% q-o-q. The company’s non-GAAP income excludes hare-based compensation and fair value change from convertible bonds.
Nasdaq-listed UP Fintech, known as Tiger Brokers in Asia, reported a GAAP (or generally accepted accounting principles) net income of US$3.3 million ($4.6 million) for the 3QFY2022 ended Sept 30.
The net income attributable to UP Fintech was 83.9% lower than the GAAP income attributable to the company of US$20.5 million in the corresponding period the year before. It was, however, a reversal into the black from the previous quarter’s loss of US$0.9 million.
