The quarter ended in September

eToro reported results on 10 November 2026 for its third quarter ended 30 September. Net income was $15 million, down 74% from $57 million a year earlier. Net contribution, a measure the company defines and reconciles in its release, declined 13% to $186 million. The company attributed the reduction primarily to decreased crypto trading activity. Funded accounts rose 18% to 4.39 million. The reporting shows a larger funded customer base alongside weaker financial performance for the period.

Account growth measures reach, while trading drives activity

An account can remain funded even if its owner trades infrequently or shifts attention to another asset class. That helps explain why the account count can rise while the business earns less from crypto. The earnings release also reports $20.8 billion in assets under administration at the end of September, unchanged from a year earlier. The three measures capture different aspects of the platform. Funded accounts describe customer participation at a broad level, administered assets describe the size of balances and trading activity helps explain how often customers transact.

Read crypto revenue alongside its associated costs

The quarterly tables show about $1.35 billion in crypto asset revenue and about $1.29 billion in associated cost of revenue. The size of both figures is important for interpreting the reported revenue. Counting the gross figure alone would overstate what remains after the associated cost, and neither figure on its own measures profit across the group. The Block’s coverage also drew attention to that pairing. Readers comparing trading platforms should check whether each company reports an activity on a gross or net basis and consult the reconciliation for the measures management emphasises.

October gives a separate observation

The release included October operating metrics outside the quarter. eToro reported two million crypto trades for that month, down 62% year over year, alongside an 18% increase in funded accounts. October’s figures should not be treated as results for the full fourth quarter. They offer an additional observation about trading frequency after the reporting period. Future releases can show whether the relationship changes as markets and customer activity evolve. For now, the dated figures support a narrower conclusion about eToro’s mix of account growth and transaction activity.

That distinction is especially useful when reading a platform’s customer figures alongside earnings. A funded-account count cannot show whether active clients traded more often, committed larger amounts to each trade or generated revenue through a different product during the period.

Photograph credit

Archival portrait of eToro co-founder and CEO Yoni Assia, 24 July 2017. Photograph by דורון לצטר. CC BY-SA 3.0. Image unchanged. Source: https://commons.wikimedia.org/wiki/File:Yoni_Assia.jpg . Licence: https://creativecommons.org/licenses/by-sa/3.0/

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Researched and published by CryptoGov Editorial Desk. Source publication and effective dates are explained in the article where relevant.