Plus500 plc (LON:PLUS), a global multi-asset fintech group operating proprietary technology-based trading platforms, has announced its interim results for the six-month period ended 30 June 2026[1].
David Zruia, Chief Executive Officer of Plus500, commented:
“H1 2026 was an outstanding period for Plus500. We delivered record results for a six-month period, reflecting the compounding quality and value of our customer base, the resilience of our global OTC and non-OTC businesses, and the enduring power of our proprietary technology.
In our non-OTC business, we launched our B2C prediction markets offering, including our next-generation sports contracts and, shortly after the period end, we introduced single stock futures and grew our B2B partnerships significantly. Collectively, H1 2026 marked a genuine step-change for our US business. At the same time, our OTC business continued to gain real traction globally, expanding both its geographic footprint and its product offering, including 24/5 trading.
Together, this progress continued our transformation from a single-product business to a diversified global multi-asset fintech group, operating at the centre of the world’s financial markets. H2 2026 started positively and the Board is confident in delivering FY 2026 revenue and EBITDA in-line with current market expectations.”
Key highlights
+ Record financial performance in H1 2026, including revenue growth of 12% and Customer Income[2] growth of 24% year-on-year (“YoY”).
+ The Group’s non-OTC[3] business launched its CFTC-regulated B2C prediction markets offering, including sports contracts, as well as single stock futures, and secured additional B2B partnerships with Wealthsimple and Nelogica.
+ The OTC business expanded its geographic reach, including new operations in Canada and Latin America, and launched 24/5 trading on stocks and ETFs.
+ Significant shareholder returns announced today totalling $182.5m, comprising share buyback programmes of $100.0m and total dividends of $82.5m, equating to $1.2001 per share.
+ The Group’s FY 2026 results are expected to be in-line with current market expectations[4], following several upgrades earlier this year.
Financial and operational KPIs*
| H1 2026 | H1 2025 | Change % | Q2 2026 | Q2 2025 | Change % | |
| Revenue[5] | $462.9m | $415.1m | 12% | $220.8m | $209.3m | 5% |
| EBITDA[6] | $187.5m | $185.1m | 1% | $91.8m | $91.3m | 1% |
| ARPU[7] | $2,346 | $2,307 | 2% | $1,683 | $1,578 | 7% |
| Active Customers[8] | 197,294 | 179,931 | 10% | 131,214 | 132,602 | (1%) |
| New Customers[9] | 65,723 | 56,165 | 17% | 25,856 | 29,268 | (12%) |
| AUAC[10] | $1,230 | $1,237 | (1%) | $1,283 | $1,267 | 1% |
*Unaudited
Excellent financial performance highlights the strength and depth of the Group’s platforms
+ Customer Income increased by 24% YoY to $460.8m, marking a five-year record high for a six-month period (H1 2025: $371.5m).
+ Trading income, the Group’s primary revenue driver, increased by 15% YoY to $441.8m (H1 2025: $385.5m).
+ Revenue increased by 12% YoY to $462.9m (H1 2025: $415.1m), representing a three-year record high for a six-month period.
+ The non-OTC business delivered revenue growth of c.30% YoY in H1 2026, increasing its contribution to c.15% of total Group revenue (H1 2025: c.13%).
+ EBITDA reached $187.5m in H1 2026 (H1 2025: $185.1m), representing a 1% increase YoY, reflecting the Group’s deliberate step-up in customer acquisition investment, the natural scaling of revenue-linked costs in the US business, and a short-term FX headwind from a materially stronger Israeli Shekel versus the US Dollar.
+ Basic EPS grew by 6% YoY to $2.17, driven by the strong financial performance and the positive impact of the ongoing share buyback programmes.
+ Total customer deposits rose by 10% to $3.4bn (H1 2025: $3.1bn), with an average deposit per Active Customer of c.$17,300 (H1 2025: c.$17,250).
+ Total shareholder returns announced today of $182.5m, comprising $100.0m in share buyback programmes and $82.5m in total dividends, underpinned by a strong financial position with cash balances of over $860m, bringing the aggregate shareholder returns announced since IPO in 2013, to c.$3.1bn.
Strengthened position of the non-OTC business, covering futures and prediction markets
+ The Group launched its CFTC-regulated B2C prediction markets offering in February 2026 and introduced sports event-based contracts in June 2026, the highest-engagement category within prediction markets.
+ In H1 2026, new B2B and B2C customers were onboarded, leading to significantly higher trading volumes being processed YoY, helping to drive non-OTC revenue growth of c.30% YoY. As a result, the business is on track to generate annualised revenue of approximately $140m in FY 2026, highlighting the successful expansion into the high-growth US market.
+ B2B partnerships expanded, with Wealthsimple in Canada and Nelogica in Brazil being announced shortly after the period end, building on the Group’s existing partnership with CME Group and FanDuel, as well as Topstep, highlighting the Group’s position as an infrastructure partner of choice. B2B partnerships are particularly valuable as they provide greater diversification of earnings as they scale.
+ Completed the acquisition of Mehta[11] in India, securing an immediate foothold in one of the world’s largest futures markets.
+ Plus500’s unique dual-channel position in futures and prediction markets covering B2B and B2C, as well as a new B2B2C sub-line, represents a significant and growing opportunity for the Group, with value creation beginning in the short-term and its contribution expected to compound over the medium- to long-term.
OTC business continued to expand its global presence and enhance its product offering
+ The Group’s OTC business continued to scale, launching new products and converting acquisition investment into revenue faster than in prior periods while sustaining strong long-term customer retention.
+ The launch of 24/5 trading on stocks and ETFs provides customers greater flexibility to respond to market-moving events in real time and reflects a structural shift reshaping the industry, with extended-hours trading rapidly becoming standard practice and accounting for a significant and growing share of global retail activity.
+ The OTC business continued to broaden its geographic diversification with continued expansion in Canada, Japan and Latin America, with a representative office established in Colombia. Existing OTC markets, such as the UAE, also performed extremely well, building on its more established operations to deliver a growing share of revenue and profit.
Focus on high-value customer cohorts converting acquisition investment into revenue more quickly
+ The strategic focus on higher value customers and investments in retention technologies continued during the period and resulted in a strong ROI on recently acquired cohorts converting into high-quality revenue more quickly than in prior periods.
+ New Customers increased by 17% YoY to 65,723 in H1 2026, reflecting the Group’s sustained and disciplined investment in customer acquisition, retention and activation technologies, driving a 10% increase in Active Customers YoY to 197,294.
+ ARPU increased by 2% to $2,346 and AUAC decreased favourably by 1% YoY to $1,230 in H1 2026, highlighting the Group’s ability to optimise acquisition investment while enabling stronger revenue generation more quickly from higher value customers.
+ In H1 2026, 20% of OTC revenue was generated by customers trading with Plus500 for up to one year (H1 2025: 16%), reflecting greater conversion in the short-term, while 50% of the OTC revenue was generated by customers trading for more than five years (H1 2025: 47%), highlighting the increased longevity and sophistication of the customer base.
$182.5m of shareholder returns announced today, extending total distributions since IPO in 2013 to c.$3.1bn
Shareholder returns totalling $182.5m, consistent with Plus500’s proven capital allocation framework, reflect the Group’s record H1 2026 results, robust balance sheet and highly cash generative business model, with operating cash conversion of 99% achieved during the period.
Today’s shareholder returns are comprised of new share buyback programmes of $100.0m and total dividends of $82.5m, equating to $1.2001 per share, bringing total shareholder returns announced in 2026 to $370.0m, following the announcement of $187.5m in February 2026.
Since its IPO in 2013, the Company has returned approximately $3.1bn to shareholders through dividends and share buybacks, including those announced today, delivering a total shareholder return of approximately 12,000% to the end of June 2026, and resulting in Plus500 being the best-performing share across the FTSE All-Share Index on a total return basis over that time frame[12]. This achievement demonstrates the Group’s exceptional and consistent track record of long-term, compounding shareholder value creation across market cycles.
Outlook
Plus500 enters the second half of 2026 with strong momentum and a clear strategy across its OTC and non-OTC operations. The Group’s OTC business continues to deliver high-quality, resilient earnings as it expands its geographic reach, provides greater technological depth and diversifies its product offering. At the same time, the Group’s expanding US presence, comprising B2B, B2C and B2B2C channels across futures and prediction markets, is a proven growth driver which continues to provide compelling opportunities for expansion.
A number of key growth engines are expected to drive progress in H2 2026 and beyond, including additional B2B partnerships, the continued scaling of the prediction markets offering, ongoing development of the Group’s global futures proposition including the integration of Mehta in India, and further growth across the Group’s OTC business.
Consistent with the Group’s disciplined approach to M&A, it continues to evaluate further bolt-on acquisition opportunities to accelerate its global growth strategy.
Reflecting this strong strategic position, the Group is exceptionally well-placed to build on a record H1 2026, sustaining momentum into H2 2026 and beyond.
The Company’s Board of Directors expects FY 2026 revenue and EBITDA to be in-line with current market expectations[13], following several upgrades earlier this year.
[1] All figures for the six-month period ended 30 June 2026 and for the six-month period ended 30 June 2025, included in this announcement, are unaudited
[2] Customer Income – From OTC (customer spreads and overnight charges) and non-OTC (commissions from the Group’s futures and options on futures operation and from ‘Plus500 Invest’, the Group’s share dealing platform)
[3] Non-OTC includes futures, prediction markets and share dealing
[4] Market expectations – Based on compiled analysts’ consensus forecasts (Source: Bloomberg), located on the Investor Relations section of the Company’s website. Consensus forecasts for FY 2026 Revenue and EBITDA are $811.5m and $365.1m, respectively
[5] Revenue is comprised of trading income and interest income
[6] EBITDA – Revenue (trading income and interest income) minus operating expenses plus depreciation and amortisation
[7] ARPU – Average Revenue Per User
[8] Active Customers – Customers who made at least one real money trade during the period
[9] New Customers – Customers depositing for the first time
[10] AUAC – Average User Acquisition Cost
[11] Mehta Equities Private Limited
[12] Source: Bloomberg
[13] Market expectations – Based on compiled analysts’ consensus forecasts (Source: Bloomberg), located on the Investor Relations section of the Company’s website. Consensus forecasts for FY 2026 Revenue and EBITDA are $811.5m and $365.1m, respectively
