Financial Highlights for Q4 2023:
- Revenue: $953.8 million (YoY: +51.6%, QoQ: +41.5%)
- Net Income: $273.4 million (YoY: +149.1%, QoQ: +12,172.3%)
- Operating Income: $104.6 million (YoY: +118.8%, QoQ: +231.0%)
- Gross Profit Margin: 83.7%
- EPS: $1.14 (Diluted EPS: $1.04)
Key Trends:
- Transaction Revenue: Increased 83% in Q4 due to a rise in average trading volumes and market volatility, indicating strong re-engagement from both simple and advanced traders.
- Subscription and Services Revenue: Grew by 12%, reaching $375 million, driven predominantly by blockchain rewards and asset custody services.
- Cost Management: Total operating expenses were $838 million, up 11% from the previous quarter, reflecting higher marketing and legal expenditures but significantly down year-over-year due to operational efficiencies.