XTB revenue grows 23.8% in H1 2025 as client numbers rise

XTB revenue grows 23.8% in H1 2025 as client numbers rise
XTB boosts user base by 55.7%

​XTB, a global brokerage firm, has published strong preliminary financial results for the first half of 2025, highlighting a sharp increase in its client base and solid operating income, despite volatile market conditions. The company reported a consolidated net profit of PLN 410.1 million, slightly down from PLN 463.0 million in the same period last year. The decline was mainly due to a strategic increase in operating expenses aimed at fueling long-term growth.

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According to the report, total operating income for the first half of 2025 surged by 23.8% year-over-year to PLN 1.16 billion, up from PLN 938.1 million in H1 2024. This growth was driven by a 69.9% rise in active clients to 853,938 and a 41.5% increase in CFD trading volume, which surpassed 4.22 million lots. However, profitability per lot declined from PLN 289 in H1 2024 to PLN 251, reflecting intensified market competition and broader client engagement.

Rising expenses and business resilience

Operating expenses also rose sharply to PLN 608.7 million, marking a 48.3% increase compared to the same period in 2024. The key drivers of this rise included expanded marketing efforts (+PLN 108 million), headcount growth (+PLN 44.4 million), and higher spending on technology and licensing. XTB has warned that full-year operating costs could climb by as much as 40% in 2025 as the company prioritizes global brand expansion and client acquisition.

Despite the profit compression, XTB’s operational resilience remains evident. As of June 30, 2025, equity totaled PLN 1.76 billion, while the combined value of cash and bonds stood at PLN 1.71 billion, underscoring the company’s financial stability. Revenues were broadly diversified, with 46.3% generated from index-based CFDs—primarily US 100 and DE40—while commodity and currency CFDs accounted for 33.1% and 15.6%, respectively.

Geographic expansion

Following the milestone of reaching 1 million users, XTB’s expansion strategy continues to yield results. In H1 2025 alone, the company added 361,643 new clients—a 55.7% increase year-over-year. In July, it gained an additional 61,900 clients in just one month. The company also maintained a solid capital buffer, reporting a total capital adequacy ratio of 197.8%.

Looking ahead, XTB plans to expand further into Indonesia and Brazil, strengthen its fintech ecosystem, and introduce new products, including options and crypto assets. The final financial results for the first half of 2025 are scheduled to be published on August 28, 2025.

Read also: XTB UK doubles profit in 2024 despite 5% revenue dip

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