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Investing.com -- Shares in Plus500 plunged around 13% Monday after the company kept its guidance unchanged even as its first-half customer income surged to a multi-year high.
The company’s revenue rose 12% year-on-year to $462.9 million, a three-year high, while customer income climbed 24% to $460.8 million, a five-year record for a six-month period. EBITDA increased 1% to $187.5 million, representing a 41% margin. The company said the results reflected strong performance across all business lines and continued diversification of its earnings base.
"H1 2026 delivered the strongest Customer Income in five years and the highest revenue in three years, reflecting the quality of our customer base, the power of our proprietary technology, and the growing breadth of our global platforms," said David Zruia, CEO of Plus500.
Plus500’s non-OTC business grew around 30% year-on-year to approximately $70 million, now accounting for roughly 15% of group revenue, up from 13% a year earlier, with the company pointing to accelerating momentum in its US operations. New customers rose 17% to 65,723, while active customers increased 10% to 197,294.
"This is a strong print and momentum continues into 3Q," Jefferies analysts commented in a post-earnings note.
Looking ahead, Plus500 said it expects full-year 2026 revenue and EBITDA to be in line with current market expectations, following multiple upgrades to those expectations earlier this year. The company said it enters the second half with strong operational momentum, citing continued scaling of its U.S. business, including its expanding prediction markets offering, alongside a resilient OTC operation.
"We expect there is room for 2H revenue forecasts to rise, possibly ahead of guidance," the analysts said.
Plus500 will report full first-half results, including new shareholder returns, on August 10.